Small businesses in my Vancouver East riding are calling on your government to extend the Canada Emergency Business Account (CEBA) loan repayment deadline, a measure which my New Democrat colleagues and I absolutely agree is a necessary measure.
The evidence is clear: according to your own government’s numbers, as of February 2023, fewer than 15% of all businesses who sought relief from CEBA loans had repaid the loan in full. The repayment date must be extended to ensure that small business owners have a fair chance to receive the benefits of the loan forgiveness and interest relief provisions of the loan.
Here in Vancouver East, and indeed across British Columbia, the health of small businesses is a primary determining factor in the health of our economy. 98% of all enterprises in BC are self-employed or small- to-medium businesses with fewer than fifty employees. One in ten people in our province are entrepreneurs. Small business is what business looks like in BC.
City TV: Concerns raised about rising cost of rentals for low-income earners: Vancouver MP
A Vancouver NDP MP is sounding the alarm when it comes to rent-geared-to-income housing units, saying incoming changes by the federal government will lead to a severe shortage within the affordable housing market in this country.
Vancouver East MP Jenny Kwan says she’s learned that as of March 31, 2028, Ottawa will be cutting subsidy funding to non-profits that operate buildings that include units for those on a fixed income. Once those suites are vacated, she says the price of those units will be bumped to market rates.
For example, a rental suite that’s going for $650 right now could be increased to $1,800 or more.
Kwan adds these changes are happening right now at some buildings in Metro Vancouver as non-profits try to bank money to prepare for their funding to be slashed in the future.
