Today, Minister of Middle Class Prosperity and Associate Minister of Finance, the Honourable Mona Fortier, continued her cross-country virtual Budget 2021 tour by meeting with members of the Cape Breton business community.

“I virtually visited Cape Breton to hear directly from the small business community – including those who have been hardest hit by the pandemic – our tourism operators, hospitality industry, arts and culture institutions and beloved restaurants. We will continue to stand beside you as we work together to get through this challenging third wave. When our economy is ready to reopen,  our government has a plan to create jobs, and ensure a resilient and more inclusive recovery. Cape Breton will be a part of this plan.”

Minister of Middle Class Prosperity and Associate Minister of Finance, the Honourable Mona Fortier

• Budget 2021 includes $101.4 billion over three years in proposed investments as part of the Government of Canada’s growth plan that will create good jobs and support a resilient and inclusive recovery. Key measures include:

  • Extending emergency supports to bridge Canadians and Canadian businesses through to recovery, including:
    • Extending the Canada Emergency Wage Subsidy, the Canada Emergency Rent Subsidy and Lockdown Support until September 25, 2021.
    • Extending the number of weeks available for important income support for Canadians such as the Canada Recovery Benefit and the Canada Recovery Caregiving Benefit.
  • Introducing the new Canada Recovery Hiring Program for eligible employers that continue to experience qualifying declines in revenues relative to before the pandemic. The proposed subsidy would offset a portion of the extra costs employers take on as they reopen, either by increasing wages or hours worked, or hiring more staff.
  • Supporting small and medium-sized businesses through several transformative programs, such as:
    • A new Canada Digital Adoption Program that will assist over 160,000 businesses with the cost of new technology. And it will provide them with the advice they need to get the most of new technology with the help of 28,000 young Canadians who will be trained to work with them.
    • Allowing Canadian small businesses to fully expense up to $1.5 million in capital investments in a broad range of assets, including digital technology and intellectual property. This represents an additional $2.2 billion investment in the growth of Canada’s entrepreneurs over the next five years.
  • Improving the Canada Small Business Financing Program through amendments to the Canada Small Business Financing Act and its regulations. These proposed amendments are projected to increase annual financing by $560 million, supporting approximately 2,900 additional small businesses.
  • Revitalizing Canada’s tourism sector through $1 billion to help tourism businesses recover and support festivals and cultural events that provide jobs and growth in many of our cities and communities.

Related products

• Budget 2021: A Recovery Plan for Jobs, Growth, and Resilience
• Budget 2021: Address by the Deputy Prime Minister and Minister of Finance
• Young Canadians
• A Canada-wide Early Learning and Child Care Plan
• Supporting Women
• Low-wage Workers
• Support for Small Business
• Job Creation
• Building an Innovation Economy of the Future
• A Healthy Environment for a Healthy Economy
• Strong Indigenous Communities
• Supporting Tourism, Hospitality, Arts and Culture
• Housing

Associated links

• Fall Economic Statement 2020: Supporting Canadians and Fighting COVID-19
• Canada’s COVID-19 Economic Response Plan

Media may contact:

Isabella Brisson
Press Secretary
Office of the Minister of Middle Class Prosperity and Associate Minister of Finance
isabella.brisson@canada.ca

Media Relations
Department of Finance Canada
fin.media-media.fin@canada.ca
613-369-4000

General enquiries

Phone: 1-833-712-2292
Facsimile: 613-369-4065
TTY: 613-369-3230
E-mail: fin.financepublic-financepublique.fin@canada.ca

Stay connected

Twitter: @financecanada

RSS