The Burnaby Board of Trade Strongly Applauds Federal Government’s Announcement on 75% Wage Subsidy, Interest-Free Loans
March 27, 2020
Burnaby, BC – The Burnaby Board of Trade strongly applauds this morning’s announcement by the Federal Government to increase wage subsidies to 75% and guarantee interest-free loans for the small business community to help with the ongoing economic crisis related to COVID-19.
The Burnaby Board of Trade has been working tirelessly with the federal government to deliver quick and bold action in support of our business community during this crisis. From daily calls with the federal small business ministry, to direct advocacy with government MPs and with federal NDP leader and Burnaby MP Jagmeet Singh, the Burnaby Board of Trade has been at the forefront of fighting for the business community to mitigate the severe economic impacts of the COVID-19 pandemic.
Paul Holden, CEO and President of the Burnaby Board of Trade said, “We are witnessing first-hand the direct economic impacts of the COVID-19 virus on our community. Never has being ‘the voice of business’ been so vitally critical as it is now in these very challenging times. I am delighted that the Federal Government is listening to the voice of the business community and we strongly applaud this morning’s announcement. This is going to help save a lot of small businesses.”
Details are yet to be announced on these new programs, but the Burnaby Board of Trade will continue to work closely with government on next steps and implementation to ensure the roll-out is quick and helps as many businesses as possible.