MONCTON — The Chamber of Commerce of Greater Moncton understands the provincial budget’s focus on public health, but its CEO says there should have been more targeted recovery measures to help businesses recover from Covid-19.
The province released its $10.6-billion budget for 2021-2022 Tuesday, which emphasized investment in mental health services and public health care. It also highlighted investment distance education, small modular nuclear reactors, affordable housing, and an increase to the carbon-emitting products tax as per the federal backstop requirements.
They were happy to see the $3-million investment to address gaps in New Brunswick’s broadband network and the continuation of the travel incentive program, which last year paid out $17-million. But Chamber CEO John Wishart said that with the pandemic impacting all sectors of the economy, the business community was looking for some specific initiatives to help hardest-hit sectors such as restaurants, tourism and hospitality, retail, and the province’s airports, though
“Desperate times call for desperate measures, and while we understand the needed focus on public health, we think the government should have invested more directly in economic recovery,” Wishart said, in a release. “Our economy can’t rebound if we aren’t safe. But we were hoping for a more balanced approach.”
Sheri Somerville, CEO of the Atlantic Chamber of Commerce, echoed Wishart’s concerns, though she did praise the renewal of the travel incentive plan and increased funding for affordable housing.
“Today’s budget is reflective of the current economic climate, but does not provide meaningful support to businesses that will need help to come out of this pandemic on the other side,” said Somerville in a release.
“Our members in the tourism sector will be encouraged by New Brunswick’s renewal of the travel incentive program. We also applaud the government’s commitment of $10.8-million to increase the availability of affordable housing units throughout the province, as this assistance is urgently needed.”
In a recent pre-budget consultation with Minister Steeves, the Chamber said it listed core priorities for the provincial government. It says Tuesday’s budget isn’t putting forward many measures for the hardest-hit sectors.
“Other jurisdictions introduced overall tax deferral programs, but New Brunswick didn’t match those measures,” read the Chamber’s statement. “Also, the government didn’t acknowledge any measures to reduce the double taxation on non-owner-occupied properties and to reduce the size and cost of government to free up money to be spent on economic investment.”
The province may be looking at GDP growth of 2.9 percent this year, but the Chamber said that is a fragile projection if New Brunswick businesses don’t emerge from Covid in a sustainable way.
“The Minister of Finance quoted Winston Churchill at the end of his speech today saying, ‘this may be the end of the beginning,'” Wishart said. “If N.B. businesses don’t receive more help, it may simply be ‘the end’ for many.”
Huddle Staff
https://huddle.today/moncton-chamber-disappointed-budget-didnt-provide-more-help-for-businesses/
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Moncton Chamber Disappointed Budget Didn’t Provide More Help For Businesses
Wednesday, March 17, 2021
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Business Truth & Reconciliation
The Atlantic Chamber of Commerce takes proactive steps to promote reconciliation and respect for Indigenous rights within the corporate sector. In response to the Truth and Reconciliation Commission's Call to Action 92, the Chamber urges its members to embrace the United Nations Declaration on the Rights of Indigenous Peoples as a guiding framework.
Recognizing the importance of education, the Chamber encourages businesses to provide comprehensive training for management and staff on the history of Indigenous peoples, including the legacy of residential schools, Indigenous rights, and Aboriginal-Crown relations. Emphasizing intercultural competency, conflict resolution, and anti-racism, these efforts aim to foster a more inclusive and harmonious corporate environment rooted in mutual understanding and respect.
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