Twitter  Facebook  YouTubeNewsletter Sign UpJoin Now

Chamber News

Back to News
Analysis of the Federal Budget

The Canadian Chamber of Commerce reported that the first federal budget released in more than two years, had many positives for business as the look to adapt and exit the pandemic, but our longer-term economic health will depend on the government managing debt and deficits.

“For all of the subsidy and stimulus spending Canada has seen and will continue to see, the only path to real, sustainable growth starts with helping this country’s business owners create more opportunities for more Canadians. Businesses are the ones that drive the economy, start and grow organisations that hire Canadians and build projects. The Budget’s focus on growth and jobs is an important step towards our economic recovery, but our growth drivers will need to shift from public spending to private investment to help get our finances under control. The plan to reduce deficits over the coming years is important, but it will depend on meeting our growth targets,” said Perrin Beatty, President and CEO, Canadian Chamber of Commerce.

Belleville Chamber of Commerce CEO, Jill Raycroft stated that "Over the course of the past year, the federal government’s response to the pandemic, and its efforts to continue supporting small business is of primary interest for members of the Belleville Chamber of Commerce.  While this budget is described as one for all people, and touches on issues that also indirectly impact business (such as childcare, housing and broadband) we are happy to hear that support for business through rent and wage subsidies continues through September – but even more importantly, the government recognizes the pandemic does not have a firm end date and they will be flexible with theirs as well.  We do have a unique challenge in our region that our unemployment rate is low and many employers struggle to find workers.  On the other hand, we have the polar opposite issue with the tourism industry completely hobbled with the lockdowns. We saw an opportunity to increase funding for internal training and succession planning that would help but that doesn’t capture headlines the way “new jobs” does. The expectation that interest rates will remain low for the next couple of years may also ease fears of increased debt in response to an increase in interest rates. "

Beatty went on to say “Canada’s fiscal situation needed serious consideration as we begin to shift away from subsidies to economic growth. With so much pent-up demand on the horizon, avoiding structural deficits and fuelling private sector growth were the core building blocks businesses were looking for in this budget. To ensure the hardest-hit sectors and small businesses survive until they can become self-sustaining again, the extension of support programs like CEWS and CERS will help. However, the government must ensure that support is not removed too early and that its level does not decrease too quickly. The Budget announcements on longer-term competitiveness issues like interprovincial trade barriers, productivity, and reducing the regulatory burden in Canada are an important step forward and should be prioritized” added Beatty.

CLICK HERE to view the budget from the Government of Canada.

READ FULL PRESS RELEASE and Budget Analysis from the Canadian Chamber of Commerce on the 2021 Federal Budget. 

REGISTER now for the budget discussion with local MP Neil Ellis on Friday, April 23 at 1:00 p.m.

Chamber Members SAVE on products and services. Check out these Member 2 Member Offers.

Be Prepared First Aid Traning - 15% off
Dinkles & Paulos Restaurants - 10% OFF
NRG Alternatives - 10% Discount
Papa Johns Pizza Member Offer- 25% off
Cloud Bookkeeping Services - 10% OFF
Constant Contact Chamber Member Offer
Shoppers Drug Mart - Save 20% on Thursdays
Group Benefit Plan for Chamber Members
Jesan Property Maintenance - SAVE 10%
OSM Website design - SAVE on services.
Quinte Siding - 10% OFF
Parsons Cleaners Member offer - 10% OFF
Belleville & District Shrine Club
Grand & Toy - Members can save up to 85%
Body Systems Nutrition - 15% OFF purchases.
Allen Insurance - Exclusive Chamber Member Rates
Esso Chamber
Superior Propane - Save 5% on fixed price propane
Stirling Festival Theatre - Group Discounts available to members
St. John Ambulance - Discount on training
RBC - Save on Bank charges
Cloud Bookkeeping Services - 10% OFF
Jesan Property Maintenance - SAVE 10%
Papa Johns Pizza Member Offer- 25% off
Quinte Siding - 10% OFF
RBC - Save on Bank charges
Shoppers Drug Mart - Save 20% on Thursdays
Allen Insurance - Exclusive Chamber Member Rates
Dinkles & Paulos Restaurants - 10% OFF
Group Benefit Plan for Chamber Members
Belleville & District Shrine Club
St. John Ambulance - Discount on training
OSM Website design - SAVE on services.
Superior Propane - Save 5% on fixed price propane
NRG Alternatives - 10% Discount
Parsons Cleaners Member offer - 10% OFF
Body Systems Nutrition - 15% OFF purchases.
Grand & Toy - Members can save up to 85%
Stirling Festival Theatre - Group Discounts available to members
Esso Chamber
Be Prepared First Aid Traning - 15% off
Constant Contact Chamber Member Offer
Belleville & District Shrine Club
Quinte Siding - 10% OFF
Stirling Festival Theatre - Group Discounts available to members
Esso Chamber
Constant Contact Chamber Member Offer
Be Prepared First Aid Traning - 15% off
Jesan Property Maintenance - SAVE 10%
NRG Alternatives - 10% Discount
Body Systems Nutrition - 15% OFF purchases.
Papa Johns Pizza Member Offer- 25% off
Cloud Bookkeeping Services - 10% OFF
St. John Ambulance - Discount on training
Grand & Toy - Members can save up to 85%
Allen Insurance - Exclusive Chamber Member Rates
Parsons Cleaners Member offer - 10% OFF
Group Benefit Plan for Chamber Members
OSM Website design - SAVE on services.
Shoppers Drug Mart - Save 20% on Thursdays
Dinkles & Paulos Restaurants - 10% OFF
RBC - Save on Bank charges
Superior Propane - Save 5% on fixed price propane