Mounting Debt Not the Solution for Jobs or Economy

(Toronto – January 26, 2021) – Today, Rocco Rossi, President & CEO, Ontario Chamber of Commerce released the following statement in reaction to the federal government’s new loan program.

“The Ontario Chamber of Commerce welcomes the new Highly Affected Sectors Credit Availability Program (HASCAP) as it will provide desperately needed capital for highly-affected sectors. However, mounting debt is not a mid or long-term solution for businesses that are already overleveraged and on the brink of bankruptcy. We ask that the Government of Canada consider a forgivable loan option for this program to better support business at a critical time.”

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About the Ontario Chamber of Commerce
For more than a century, the Ontario Chamber of Commerce (OCC) has been the independent, non-partisan, indispensable partner of Ontario business. The OCC’s mission is to support economic growth in Ontario by defending business priorities at Queen’s Park on behalf of its network’s diverse 60,000 members.

For more information, please contact:
Ceara Copps – Edwards
Manager, Public Affairs
cearacoppsedwards@occ.ca| Mobile: (647) 936-6734