Canadian Chamber: Rent is due Thursday. What’s the plan?

(OTTAWA) – September 29, 2020 – This morning Canadian Chamber of Commerce President and CEO, Hon. Perrin Beatty, issued the following statement, regarding the urgent need for clarity on commercial rent support:

“When the September extension of the Canada Emergency Commercial Rent Assistance (CECRA) program was announced, it was made clear the program was being wound down. Businesses needing rent support would need a new and improved program to help keep them afloat.

The problems associated with CECRA are well-documented: it was complex, restrictive, took a month-to-month approach, and depended on landlords, to name a few. Governments at all levels understand these issues and that’s why a new program is the preferred path. We agree.

The reality, however, is that businesses operate in real time and must be able to plan in order to be successful. Now, rent is due Thursday. That means businesses urgently need to know the plan.

A business-led recovery from the pandemic is our goal. But for many sectors, including restaurants, travel, and tourism, recovery from the pandemic remains a long-term challenge as restrictions on those businesses continue. As those businesses continue to be limited, the need for corresponding long-term programs to help cover some of the resulting losses is also ongoing.

Together, we need to ensure that businesses are able to survive the winter. Millions of Canadians’ livelihoods depend on it. On commercial rent, it’s time to see the long-term plan.”

About the Canadian Chamber of Commerce – Because Business Matters

The Canadian Chamber of Commerce helps build the businesses that support our families, our communities and our country. We do this by influencing government policy, by providing essential business services and by connecting businesses to information they can use, to opportunities for growth and to a network of local chambers, businesses, decision-makers and peers from across the country, in every sector of the economy and at all levels of government, as well as internationally. We are unapologetic in our support for business and the vital role it plays in building and sustaining our great nation.

-30-

For more information, please contact:

Phil Taylor, Canadian Chamber of Commerce
[email protected]