Budget 2021 is the Government of Canada’s plan to finish the fight against COVID-19 and ensure a robust economic recovery that is sustainable and inclusive of all Canadians.
Today, the Honourable Mary Ng, Minister of Small Business, Export Promotion and International Trade, attended a fireside chat with Dayna Spiring, President and CEO of Economic Development Winnipeg, to discuss investments in small businesses and entrepreneurs from Budget 2021: A Recovery Plan for Jobs, Growth, and Resilience.
The COVID-19 recession has disproportionately affected low-wage workers, young people, women and racialized Canadians. For businesses, it has been a two-speed recession, with some finding ways to pivot and succeed but many—especially small businesses—fighting to survive. Budget 2021 is a historic investment to finish the fight against the pandemic, address the specific wounds of the COVID-19 recession, put people first, create jobs, grow the middle class and set businesses on a track for long-term growth. Budget 2021 will ensure that Canada’s future will be healthier, more equitable, greener and more prosperous.
The discussion between Minister Ng and Ms. Spiring focused on the many measures proposed in the budget to help small businesses and entrepreneurs bridge through the pandemic and come back stronger after recovery. Minister Ng highlighted that this is the most small business–friendly budget in Canadian history. From extending emergency measures like the Canada Emergency Wage Subsidy and Canada Emergency Rent Subsidy to incentivizing rehiring in recovery through a new Canada Recovery Hiring Program, Budget 2021 includes significant investments to support businesses in getting online and hiring back workers, commits to decisive action on lowering credit card fees, and improves support for exporters.
The Government of Canada’s top priority remains protecting Canadians’ health and safety, particularly during this third wave of the pandemic and given the more aggressive variants of the virus. Vaccine rollout is under way across Canada, with federal government support in every province and territory.
Budget 2021 is a plan to bridge Canadians and Canadian businesses through the crisis and towards a robust recovery. It will support almost 500,000 new training and work opportunities, including 215,000 opportunities for youth; support businesses in our most affected sectors, such as tourism and arts and culture; and accelerate investment and digital transformation at small and medium-sized businesses. Budget 2021 is a plan that puts Canada on track to meet its commitment to create 1 million jobs by the end of the year.
Canada entered the pandemic in a strong fiscal position. This allowed the government to take quick, decisive and responsible action, supporting people and businesses, and put Canada where it needs to be for a successful and strong recovery.