WOLFVILLE, NS - Kings-Hants MP Kody Blois held a virtual Q&A on April 30 with representatives from the Annapolis Valley Chamber of Commerce, the Avon Chamber of Commerce, the East Hants Chamber of Commerce, the New Minas Business Association and the Windsor Township Business Association to discuss Budget 2021 and how it impacts business owners in Kings-Hants.
Business group representatives identified challenges their members are facing when it comes to staffing and growing their workforce, explaining how the pandemic has proved that things that used to be viewed as good social policy, like affordable housing and childcare, are crucial economic policies as well.
Event attendees discussed how Budget 2021 aims to help more people, especially women, get back to work by improving access to affordable childcare. The federal government’s goal is to reduce childcare fees by 50% by the end of 2022 and have $10 per day childcare by 2026. Access to safe, affordable housing was issue representatives identified as being top of mind for Nova Scotians. Budget 2021 invests $7 billion over six years to top up the Rapid Housing Program and improve the Canadian Housing Benefit so more Canadians have a safe place to call home.
Other highlights from Budget 2021 include:
- Protecting jobs by extending the Canada Emergency Wage Subsidy, the Canada Emergency Rent Subsidy and Lockdown Support until September 25th, 2021
- Helping hard-hit businesses hire more workers by introducing the Canada Recovery Hiring Program
- Strengthening the Women Entrepreneurship Strategy so more women entrepreneurs can access financing, training and mentorship
- Improving the Canada Small Business Financing Program by expanding loan-class eligibility, increasing the maximum loan from $350,000 to $500,000 and extending loan coverage from 10 to 15 years for equipment and leasehold improvements. It also expands borrower eligibility to include non-profit and charitable social enterprises
- Launching the Canada Digital Adoption Program to help small to mid-sized companies adopt technologies and get their business online, while creating thousands of new jobs for young Canadians
- Reducing credit card transaction fees to keep more money in business owners’ pockets
- Investing more than $1 billion for the Universal Broadband Fund, on top of the $1.75 billion previously committed by the federal government
- Enhancing the Rapid Housing Initiative, the Canada Housing Benefit and the National Housing Co-Investment Fund so more Canadians have an affordable place to call home
- $2.2 billion to address infrastructure priorities in municipalities and First Nations communities through the Canada Community-Building Fund
More information on Budget 2021 can be found online at www.budget.gc.ca.