Madam Speaker, one of the big disappointments from last week's fall economic statement was the lack of action on extending the loan repayment deadline for the Canada emergency business account program.

CEBA loans saved hundreds of thousands of businesses across Canada and millions of jobs during the pandemic, but recovery has been slow, particularly in sectors such as tourism. The deadline to repay CEBA loans was extended from the end of 2022 to the end of 2023, but there continue to be calls to extend it once more, to the end of 2024.

Last month, the provincial premiers from across the country called on the government to make that extension. Chambers of commerce, including those in my riding, and the Canadian Federation of Independent Business asked for an extension. The NDP and Bloc Québécois have both asked for an extension. Sadly, both the Liberals and Conservatives in this place have ignored those calls and remained silent. Eventually, the government extended the repayment deadline by 18 days. That time will only allow businesses to secure additional loans and take on more debt.

I recently met with Anette and Jörg in my riding. They own one of the oldest craft distilleries in the country. They have been in business for years. As many of the small businesses in my riding do, they depend on the tourism industry to be successful, so the CEBA loan program literally kept their business alive during the pandemic. They were on schedule to pay back their CEBA loan until this summer, when wildfires in the interior of B.C. drove the provincial government to close the region to tourism. It was not just that visitors did not want to come to a region that was on fire; they were literally told they could not come. August, one of the two big months for tourism-related business, was a complete writeoff.

I also heard from Conrad, who has a family-owned and operated fashion store in Osoyoos. The CEBA loan made the difference in getting his business through COVID. Conrad's business is almost entirely dependent on tourism, and it was also impacted by the wildfires this summer. He did not even get to the break-even point this year, and he cannot pay back the CEBA loan or even buy new stock for next year.

The wine industry is a multi-billion dollar industry in the Okanagan Valley. It was hard hit last winter, with an unusually hard and early frost that damaged many vines and even killed vines in some vineyards. Therefore, harvest was cut in half this year, and that impact will be felt next year and years after that when the wine matures. On top of that, most of the 300 or so wineries in the region were also hit by the lack of tourism in August because of wildfires. I had dinner last week with wine industry leaders and learned that many wineries are considering closing or selling right now, because they cannot make ends meet. Some have already closed.

The B.C. Craft Brewers Guild reported yesterday that 15% of their members face bankruptcy if the CEBA loan repayment period is not extended. They are impacted not only by the downturn in tourism but also by the inflation that has driven up the cost of everything that goes into their craft beers.

Small businesses across Canada are in crisis. We need to support them by extending the CEBA loan repayment deadline. It is not too late.

Richard Cannings

$554,545.00