Minister Ng highlights Budget 2021 investments in small businesses and entrepreneurs
"Budget 2021 is the best thing we can do for our economy and our future," Minister Ng said
EDMONTON, Alta. — Mary Ng, Minister of Small Business, Export Promotion and International Trade, delivered remarks on Budget 2021: A Recovery Plan for Jobs, Growth, and Resilience at an event held by the Calgary and Edmonton chambers of commerce.
The COVID-19 recession has disproportionately affected low-wage workers, young people, women and racialized Canadians. For businesses, it has been a two-speed recession, with some finding ways to pivot and succeed but many—especially small businesses—fighting to survive.
“While providing Canadians with the support they need to get through the pandemic, we need to invest now to ensure businesses in Alberta and across Canada have a strong recovery and are competitive in the long term,” Ng said in a prepared statement. “Budget 2021 is the best thing we can do for our economy and our future.”
Minister Ng spoke about what the budget means for Alberta-based businesses and workers, focusing on the many measures proposed to bridge small businesses and entrepreneurs through the pandemic and help them come back stronger. Minister Ng highlighted that this is the most small business-friendly budget in Canadian history. From extending emergency measures like the Canada Emergency Wage Subsidy and Canada Emergency Rent Subsidy to incentivizing rehiring in recovery through a new Canada Recovery Hiring Program, Budget 2021 includes significant investments to support businesses in getting online and hiring back workers, commits to decisive action on lowering credit card fees, and improves support for exporters.
Among the opportunities the budget proposes for Alberta are tax credits, R&D funding to support carbon capture, and $1 billion over five years to encourage investments in clean technology projects.