Claude DeBellefeuille, MNA for Salaberry-Suroît, with the support of the Canadian Federation of Independent Business (CFIB), believes that the government's announcement regarding the Canadian Business Emergency Account (CBEA) does not meet the needs of Quebec businesses that require more breathing room.

For several months now, the Bloc Québécois has been hammering away at the need to give businesses that have benefited from the CUEC more breathing space in their repayment terms, especially in a context of inflation and economic uncertainty that is already threatening to lead to a wave of closures. "While it's good to see that the government is finally addressing the CUEC issue, after months of questioning from the Bloc Québécois, what Ottawa is proposing is clearly insufficient for businesses" points out the Bloc MP.  

"Postponing by 18 days the date for applying for a loan from financial institutions, and postponing by three months the deadline for fully repaying interest-free loans granted during the pandemic, clearly fall short of the expectations and needs of businesses. At a time when rising interest rates are hurting SMEs, the government's rigidity risks triggering a pandemic of bankruptcies early next year " warns Ms. DeBellefeuille.  

The Bloc Québécois is also calling on Ottawa to grant greater flexibility to companies that have received loans under the CUEC, a request the government seems unlikely to have grasped the importance of. "We're asking the government to offer companies that need it the possibility of obtaining an extension and concluding a repayment agreement without losing their subsidies" says DeBellefeuille. In particular, Claude DeBellefeuille proposes that the government establish a direct channel of communication with companies, rather than delegating its own responsibilities to the banking sector.