Liberals extend commercial rent-relief program for last time - Action News
Home WebMail Monday, November 11, 2024, 01:16 AM | Calgary | -0.5°C | Regions Advertise Login | Our platform is in maintenance mode. Some URLs may not be available. |
Politics

Liberals extend commercial rent-relief program for last time

The federal government is extending its commercial rent-relief program one last time. The Liberals say the program that aims to help small businesses with their rent or lease costs will be extended for this month, unveiling the details one week after rent was due.
A closed storefront boutique business called Francis Watson pleads for help in Toronto on Thursday, April 16, 2020. (Nathan Denette/Canadian Press)

The federal government is extending its commercial rent relief program one last time.

The Liberals say the program that aims to help small businesses with their rent or lease costs will be extended for this month, unveiling the details one week after rent was due.

In a release, the government says the one-month lifeline is a "final extension" for the program and that officials are looking at other options to help small businesses.

The rent-relief program provides forgivable loans that cover half of rent for eligible small businesses, and also requires landlords to waive a further one-quarter of what they'd otherwise be owed.

Property owners have to apply for the help, but take-up has lagged expectations and spending is projected to fall far short of the nearly $3 billion the Liberals have budgeted.

The government says that as of the start of this week, the program had provided over $1.32 billion in aid to more than 106,000 small-business tenants.

Add some good to your morning and evening.

Your weekly guide to what you need to know about federal politics and the minority Liberal government. Get the latest news and sharp analysis delivered to your inbox every Sunday morning.

...

The next issue of Minority Report will soon be in your inbox.

Discover all CBC newsletters in theSubscription Centre.opens new window

This site is protected by reCAPTCHA and the Google Privacy Policy and Google Terms of Service apply.