Debt-ridden businesses are unlikely to survive the latest round of lockdowns, say industry experts.
Except for Saskatchewan, all provinces and territories have imposed a 50 per cent capacity limit on businesses. On average, Canadian businesses have taken on an extra $170,000 in debt since the pandemic began, he added. Until Feb. 12, Ottawa is also lowering the revenue-loss threshold for businesses from 40 to 25 per cent, with payments retroactive to Dec. 19.The Local Lockdown program subsidizes 25 to 75 per cent of wages and rents, depending on revenue loss, while the Canada Worker Lockdown program pays $300 a week to employees whose income has been cut by at least half because of restrictions.
Nor has he seen any government data to justify so much restriction of restaurant operations, especially since the industry has prioritized the safety of its employees and customers, Barclay added.
Watching Daniel Blaikie argue the need for a deaf liberal base was very eye-opening for how little they cared. Businesses are short staff but will be even shorter if we fail to support them now.
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