OTTAWA — Deputy Prime Minister and Minister Finance Chrystia Freeland’s recent economic and fiscal update included commitments in response to key recommendations from Restaurants Canada.
The federal government’s commitments include:
- Setting aside funds to ensure the implementation of proof-of-vaccination programs across all Canadian provinces and territories.
- Proposing a Small Business Air Quality Improvement Tax Credit of 25 per cent on eligible air-quality improvement expenses.
- Extending the Highly Affected Sectors Credit Availability Program to Mar. 31, 2022, which was set to expire on Dec. 31, 2021.
- Strengthening supply chains under the National Trade Corridors Fund, with up to $50 million to support Canadian ports with the acquisition of cargo storage capacity
- Proposing to allocate $85 million in 2022-23 toward processing resident applications and reducing immigration processing times
- Increasing immigration levels in response to rising labour shortages
Furthermore, the update reinforced the government’s plans to extend the Canadian Recovery Hiring Program until May. 7, 2022 and the emergency rent and wage subsidy programs, including the Tourism and Hospitality Recovery Program, the Hardest-Hit Business Recovery Program and the Local-Lockdown Program.
Finally, Restaurants Canada is continuing to advocate for an eligibility threshold starting at 10 per cent revenue decline for the new Tourism and Hospitality Recovery Program and an extension of the re-payment deadlines for government loans.