Tuesday, Dec 1, 2020

• On November 30, the Deputy Prime Minister and Minister of Finance, the Honourable Chrystia Freeland, presented the Fall Economic Statement 2020 in the House of Commons. The Fall Economic Statement is posted here. Read the government’s release.

• This morning we hosted a debrief with the Honourable Mona Fortier, Canada’s Minister of Middle Class Prosperity and Associate Minister of Finance, following Canada’s 2020 Fall Economic Statement. 

• Investments in testing and tracing, procurement of personal protective equipment, and a suite of measures to protect people in long-term care.
  • $150 million to improve ventilation in public buildings and help reduce the spread of COVID-19.

• An increase of the maximum rate of the Canada Emergency Wage Subsidy to 75 per cent for the period beginning December 20, 2020 and extending this rate until March 13, 2021.

• An extension of the current rates of the Canada Emergency Rent Subsidy and Lockdown Support until March 13, 2021. Both programs will be available until June 2021.

• A proposal to extend the Canada Emergency Rent Subsidy for an additional three periods to March 13, 2021.

• The Canada Emergency Business Account (CEBA) program will be expanded, allowing qualifying businesses to access an additional interest-free $20,000 loan, in situations where there is need. Half of this additional amount, up to $10,000, would be forgivable if the loan is repaid by December 31, 2022. The deadline to apply for a CEBA loan has been extended to March 31, 2021.

• The government will work with financial institutions in the near term to create the Highly Affected Sectors Credit Availability Program – a new program for the hardest hit businesses, including those in sectors like tourism and hospitality, hotels, arts and entertainment. This stream would offer 100 per cent government-guaranteed financing for heavily impacted businesses, and provide low-interest loans of up to $1 million over extended terms, up to ten years.

• A top-up of up to $500 million, on a cash basis, to Regional Development Agencies and the Community Futures Network of Canada. The government will earmark a minimum of 25 per cent of all the Fund’s resources to support local tourism businesses.

• Temporary support of up to $1,200 in 2021 for each child under the age of six for families entitled to the Canada Child Benefit.

• Laying the groundwork for a Canada-wide Early Learning and Child Care System.

• The Department of Finance Canada also released the Annual Financial Report of the Government of Canada for 2019–20; providing an overview of the government’s spending and revenue for the previous fiscal year.

KEY UPDATES 

COVID-19 RESPONSE FRAMEWORK UPDATES

• On November 27, the Ontario government announced they’re moving five public health regions to new levels with stronger public health measures. Learn more.

• Based on the latest data, the following public health regions will move from their current level in the framework to the following levels effective at 12:01 a.m., November 30:
  • Red-Control
    • Windsor-Essex County Health Unit.

  • Orange-Restrict
    • Haldimand-Norfolk Health Unit.

  • Yellow-Protect
    • Hastings Prince Edward Public Health

    • Lambton Public Health; and

    • Northwestern Health Unit.

  • All other public health regions will remain at their current level.

CANADA EMERGENCY RENT SUBSIDY

• Canada Emergency Rent Subsidy (CERS) applications are now open. Organizations can now apply directly for the subsidy from September 27 to October 24, 2020 through the Canada Revenue Agency (CRA) My Business Account, or Represent a Client portals. Applications for the second CERS period (October 25 to November 21, 2020) opened on November 30.

  • Applications for the second CERS period (October 25 to November 21, 2020) opened on November 30.

• In response to concerns raised by stakeholders about the program, the Government of Canada is proposing to amend the CERS in order to allow applicants to include eligible expenses in their CERS application before the expense has been paid.

  • This means that organizations can include rent and other eligible amounts already paid in respect of a claim period as well as amounts that are payable for the claim period when submitting their CERS applications. Amounts that are not paid at the time of the application will have to be paid no later than 60 days after payment of the subsidy. 

• The CRA has launched a CERS online calculator and application form that are designed almost identically to those of the Canada Emergency Wage Subsidy (CEWS). The calculator guides applicants through a step-by-step process that allows them to determine the subsidy amount they can claim, based on the information they enter.  The CERS web pages include detailed information about eligibility requirements, how payment periods are structured, and how the subsidy is calculated. Click here to learn more.

• Applications are now open for the Black Entrepreneurship Program’s National Ecosystem Fund and the Black Entrepreneurship Program’s Knowledge Hub. Learn more.

• The National Ecosystem Fund will provide funding to Black-led not-for-profit business organizations to strengthen their capacity to provide support, financial planning services and business training for Black entrepreneurs and business owners.
  • Black-led not-for-profit business organizations that serve Black entrepreneurs and Black-owned businesses are encouraged to apply through the National Ecosystem Fund web page by December 21, 2020.

• The Insurance Bureau of Canada (IBC) has launched its Business Insurance Action Team (BIAT) to help struggling small businesses in Ontario’s hospitality sector find viable insurance amid the COVID-19 pandemic.

• Click here to learn more and apply for the BIAT. Business owners with any insurance questions can click here for further support.

ADDITIONAL UPDATES 

• On November 27, The President of the Treasury Board of Canada announced that the new Centre for Regulatory Innovation is fully operational. The Centre is dedicated to helping business and industry launch novel products and services into the marketplace. Learn more.

• On November 26, the government of Ontario announced they're proposing the Supporting Local Restaurants Act, 2020 which, if passed, would cap delivery fees charged by food delivery companies in areas where indoor dining is prohibited due to COVID-19. Learn more.  

• On November 26, the Government of Ontario announced targeted testing in school communities for asymptomatic students and staff in regions of the province that currently have a high number of active COVID-19 cases. Read the release.

• On November 25, the Ontario Government urged Ontarians to celebrate the holidays at home with their own household and virtually with everyone else. For Ontarians who live alone, they recommended celebrating exclusively with one additional household as a safe way to spend the holidays. Learn more.

• The government of Canada has signed a new agreement on November 24 for a COVID-19 antibody therapy. This is designed to block the virus from attaching to and entering human cells to potentially prevent the virus from causing COVID-19 illness. Learn more.

• On November 24, the Ontario government deployed new COVID-19 rapid tests to provide faster results in regions of high transmission and rural and remote areas. These new tests will provide Ontarians with more access to innovative testing options and will help quickly identify and manage outbreaks to stop the spread of COVID-19. Learn more.

• On November 21, the Government of Canada successfully concluded talks on transitional trade continuity agreement with the United Kingdom. As the Comprehensive Economic and Trade Agreement (CETA) will no longer apply to the United Kingdom beginning January 1, 2021, this new agreement will provide continued access to the benefits of CETA on a bilateral basis, including the elimination of tariffs on 98% of Canadian products exported to the United Kingdom. Read the release.

• Regulations Under Supporting Local Restaurants Act, 2020
  • The Supporting Local Restaurants Act, 2020 prohibits food delivery services providers, who are identified in the regulations, from charging restaurants more than the prescribed amount for food and beverage delivery services or related services. Learn more.

• On November 30, the Ontario Chamber of Commerce presented on Bill 229, Protect, Support and Recover from COVID-19 Act (Budget Measures), 2020 (the Ontario Budget bill).

• Our President and CEO Rocco Rossi spoke to the urgency of ensuring that small businesses get fair, consistent, clear guidelines and support and an evidence-based path forward to survive the pandemic. Read our rapid policy update on the budget here.