This morning, the Prime Minister made a major announcement with respect to supporting small to medium businesses during this extremely challenging time. More details will become available early next week but these new measures will help to businesses to keep their employees employed with them and also support small to medium employers through the emergency and recovery period. The new actions include increasing the wage subsidy from 10% to up to 75%, a storefront business loan for $40,000 guaranteed by the federal government of which $10,000 is forgivable, and an HST deferral until June which effectively transforms these payments into short-term interest free loans. I fully support the federal government's announcement as it will clearly bring relief into our communities and help our small businesses retain their workers. As noted, more details will be available early next week.
It is also important that those living in high-rise communities are protected and every effort be taken to keep them safe in view from Covid-19 transmission. The City has been promoting education material, including how to maintain social distancing in elevators (stand as far apart as possible and limit each elevator to three people). Today, we also released best practices guidelines for landlords and condo boards to implement.
As many City recreational programs were scheduled to being in April, I would also like to share that these programs have been suspended and City is in the process of issuing refunds and credits. If you have any questions, please contact the City’s Parks, Forestry and Recreation department at [email protected].
COVID-19 is affecting all of us including the live local music industry and associated venues. To try to compensate, many have quickly pivoted to livestreaming performances from their homes. There are some great "shows" happening every day; here are a few of the most popular platforms that I encourage you to visit:
- #CanadaPerforms- streaming performances and a fund (established by the National Arts Centre, Facebook Live, and Slaight Music) for musicians to access support if selected for a livestream show
- Social Distancing Festival- website listing a variety of livestreamed shows across the world each day
- urgnt.ca/- platform for streaming local shows
All platforms will accept donations as a way of helping the artists generate a little income in a time of shuttered venues and cancelled events, so please consider donating, especially if you use their service.
Landlords, Condo Boards urged to adopt new health and safety measures to protect residents from COVID-19
The City of Toronto is urging Landlords and Condo Boards to adopt new health and safety measures to protect residents from COVID-19.
Mayor's Economic Support and Recovery Task Force to survey Toronto businesses about the impact of COVID-19
The City of Toronto, as part of the work of the Mayor's Economic Support and Recovery Task Force, has issued a survey to hear directly from local businesses about how the COVID-19 pandemic is impacting them and what information and support they need at this time.
Additional Support for Canadian Businesses from the Economic Impact of COVID-19
The Government of Canada is making additional investments to support Canadian businesses from the economic impacts of COVID-19. These new investments provide support to financial institutions and allow them to quickly provide credit and liquidity options for a range of businesses.