Then that's probably the best idea I've heard so far, quite frankly, because it does allow.... To Shaun's point, the math doesn't lie. If your revenues are zero or 20% and you have other fixed costs, there is absolutely no money to pay rent, but at the same time, rent has to be paid. If we think about what rent does, we not only pay our landlords, individuals such as Shaun, but we also support millions of pensioners and large government service pension plans, which are our largest landowners. They need to get paid. We need the ecosystem to survive.
You also have another massive problem, and we've seen it in Vancouver. Some are asking for emergency loans from the province. We pay outsized amounts of property tax in those rents, and without those being paid, you're going to create fires in every single municipality because of shortfalls in revenues.
You as government, with leadership, can impose a plan like that so that you're protecting landlords for themselves, because alternatively you'll have an utter collapse of the commercial real estate market and rents will plummet. Mortgages will not get paid and pensioners will not get their incomes, just as investors like Shaun will not. At the end of the day, that plan would work.
Paying 100% of the rent for people who have had a catastrophic loss in sales of 60%, 70%, 80% or 100% is absolutely necessary if you want to protect jobs in our industry. If you leave a portion of the rent payable by people who have no funds.... To Gabriel's point, the $6.2-million loan is not an option. I don't believe any of those loans have actually been approved or gone out, compared to those in the CEBA program. It's going to take far too long, and many people in our industry will be bankrupt before that happens. Without direct government intervention, the stats are there: More than 50% of us will not survive.