Yesterday, Rocco Rossi, President & CEO, Ontario Chamber of Commerce released the following statement in response to the Government of Canada’s further details on the wage subsidy.
“Questions still remain, and we cannot wait anymore. “A wage subsidy is a critical measure to support businesses and employees throughout this difficult time and we appreciate the Government of Canada’s efforts to listen and respond to our needs. However, we are disappointed in the subsidy’s final design. Simply put - businesses cannot afford to wait any longer for relief.
“Asking businesses to wait an additional six weeks is completely unacceptable. They have waited long enough. Every day means more and more businesses closing and more and more workers being laid off.
“The 30 percent threshold puts many businesses, especially small businesses, at a disadvantage as it is a one-size-fits-all solution for a diverse economy. Using last year’s revenue as the comparator will cause issues for new firms. For non-profit organizations and registered charities similarly affected by a loss of revenue, it is not yet clear on how a definition of revenue loss appropriate to their circumstances will be determined.”