The local business community is cautiously optimistic after a virtual meeting with area politicians and health-care officials on Friday.
The Orillia District Chamber of Commerce hosted a video conference on Zoom, which included special guests Mayor Steve Clarke, Simcoe North MPP Jill Dunlop, Simcoe North MP Bruce Stanton and Orillia Soldiers’ Memorial Hospital president and CEO Carmine Stumpo.
Each provided an update on the COVID-19 situation, and politicians explained what supports were available from their respective levels of government.
It was a lesson in how quickly the situation is changing.
Stanton noted the federal government was offering a 10 per cent wage subsidy for businesses. Not long after the conference, Prime Minister Justin Trudeau announced that figure would rise to 75 per cent.
“Initially, it sounds great,” said chamber president Nathan Brown. “How it’s implemented is the big thing.”
Brown is curious to learn more details about the feds’ plans to help small and medium businesses, and that information is expected to be released Monday. He is wondering if it will mean some laid-off employees will be going back to work.
“Are we just putting more people at risk? I’m not sure it’s the safest thing to do,” he said.
He is also looking forward to learning whether businesses will be able to defer principal payments. Currently, only the interest can be deferred.
Stanton told the more than 100 people taking part in the conference about some of the measures Ottawa is taking to assist people and businesses during the pandemic, including extending the tax-filing deadline to June 1, with no payments due until the end of August.
Stanton noted the fluidity of the situation and said he expects there will be more changes to supports that have already been announced.
That’s a positive sign for business owners who were told at first to take out loans to weather the storm — not an ideal option for many, Brown said.
“Initially, the response seemed to mirror the reaction to the credit crisis of 2008-09,” Brown said.
Dunlop told the conference the province has a plan to double the employer health tax exemption in 2020, which amounts to about $355 million in tax cuts for businesses. The government’s plan also includes allowing employers to defer WSIB premiums for up to six months and lowering hydro rates.
“We’re not sparing any expense here,” she said. “We’re talking about people’s health being our No. 1 priority.”
Clarke explained some of the measures the city has taken since declaring a state of emergency. They include a $100,000 emergency fund for “critical lead service providers on an as-needed basis” and the waiving of tax, water and sewer penalties until the end of June.
Asked what steps he’d like to see governments take next to support businesses, Brown wasn’t sure, again referencing the rapidly changing nature of the situation.
“We need to put health and well-being first and then we have the business side to get to after that,” he said. “I don’t know that we can say what we need going forward at this point.”
