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Government lays out positive, pragmatic initial approach to COVID-19: Canadian Chamber of Commerce
The Canadian Chamber of Commerce issued the following statement regarding the government’s COVID-19 response plan:
“The government’s initial $1-billion COVID-19 response plan is a positive and pragmatic approach to the global risks of the spreading virus.
We welcome the whole of government approach and the close coordination with the business community. The Canadian Chamber is helping to lead the business community’s response to COVID-19 and continues to work together with governments as they develop policy options and tools to help businesses and their employees.
Of note for our member businesses, the following programs are available to them and their employees. The government is:
- Waiving the one-week waiting period for EI to help employees that are self-isolating have immediate access to funds.
- Introducing special measures under its Work-Sharing program (an adjustment program designed to help employers and employees avoid layoffs where there this a temporary reduction in the normal level of business activity that is beyond the control of the employer).
- Increasing liquidity for Canadian businesses experiencing cash flow challenges by strengthening investment in federal lending agencies such as the Business Development Bank of Canada (BDC) should the economy experience tightening conditions.
The Canadian Chamber also has a pandemic preparedness toolkit to help its members and Canadian employers plan for potential impacts to their business. As the Canadian Chamber continues to work closely with the federal government, this toolkit will be updated to reflect recent developments.
The business community remains ready to work with governments at all levels to help Canadian businesses and their employees prepare and address the economic impacts COVID-19 pandemic.”