March 9th, 2023 - 4:28pm

Consumer Protection, Economic Development, In the House, Other News, Press Releases

SMALL AND MEDIUM-SIZED ENTERPRISES

Ottawa, March 09, 2023 –

On March 9, 2023, the House of Commons Standing Committee on Industry and Technology (Committee) presented its Tenth Report in the House of Commons entitled Small and Medium Enterprises in Canada: Charting a Competitive Future.

Members of the committee shared their thoughts regarding the report:

‘’Small and medium enterprises (SMEs) are the pillar of the Canadian economy employing the millions of workers in the private sector. With the challenges caused by inflation, supply chain disruptions and labour shortages, federal policies need to provide support and clarity so that businesses can prosper and grow. I wish to thank the witnesses and members of the committee for this important study that will help us better understand the current business conjuncture and provide constructive recommendations to the Government.’’ Joël Lightbound, Chair of the committee

“After eight years of this Liberal government, Canadians are struggling to cope with 40-year highs in inflation and the rising cost of living. The Standing Committee of Industry and Technology heard from 65 witnesses on the challenges impacting small businesses. We heard about high levels of pandemic debt, labour challenges and their fragile recovery period. We heard that only 50% of small businesses are seeing sales returning to pre-pandemic levels. While we agree with many of the recommendations in the report, it fails to address key measures the government can take to support small businesses immediately. We were disappointed that the committee did not recognize the negative impact inflation as well as new taxes and regulations introduced by the government will have on small businesses. The Conservative members of the Committee believe the following recommendations should have been included in this report: – Suspension of the automatic annual increases in Excise Duty Rates – Freezing of CPP and EI increases for SMEs, and; – That the Government of Canada immediately cancel the federal carbon tax This report failed to adequately recognize the struggle small businesses are facing – a struggle they refer to as ‘death by a thousand cuts.” Brad Vis, member of the committee from the Conservative Party of Canada

“I initiated this study because my region of Abitibi-Témiscamingue has been experiencing a labour shortage for about ten years now, and the current crisis has simply accentuated it. We made several recommendations that were adopted by the committee, but I am putting forward a complementary report to highlight other recommendations that I think are important to help our entrepreneurs and marginalized groups. I am also extremely proud to have allowed the people of Abitibi-Témiscamingue to contribute to this report to bring solutions to meet their needs.” Sébastien Lemire, Vice-Chair of the committee

“Small and medium businesses are essential to our economy. They generate most of the jobs and are connected our local communities. The government needs to foster the environment and provide the tools for them to thrive in this global economy.” Brian Masse, Member of the committee from the New Democratic Party

The report is available online here.

Pdf Copy: INDU-SMEsinCanada-10692226-final-e