Business leaders welcomed today’s announcement to lower the benchmark interest rate, create a credit facility program to support small and medium sized businesses, and relax capital requirements for the financial sector.
The overarching priority right now for employers across Canada is ensuring the health and safety of their employees. Companies are taking decisive action to implement policies and programs aimed at limiting the spread of COVID-19 while continuing to provide critical services to Canadians.
The government has taken important steps today to support the financial system and businesses that are experiencing liquidity problems. Additional support will be required to ensure businesses remain operational over the coming weeks.
We applaud the government’s approach to supporting the economy and stand ready to do whatever we can to limit the economic impact of the current health emergency.
September 21, 2023