Pat Kelly is my grandfather's name too.
We are really worried about the levels of debt that businesses are incurring. As I was saying in my commentary, there is a growing sense that the momentum—in terms of getting government support programs amended, changed and fixed—seems to be evaporating in government right now. I think there's a sense that we've got the supports in place, so let's just keep them going a bit longer and then we'll be done.
The economic damage we've seen so far is a tiny portion of what we will be seeing in the days ahead, even with a robust recovery, COVID coming to an end soon and reopening happening. It's beginning to happen in most provinces other than in Ontario, where the government has done a terrible job. We're starting to see some signs of life, but I can tell you that businesses, when they reopen, are going to be looking at their bills and at their income in May, June and the summer, and they'll be lucky to be able to pay their current expenses, let alone trying to make a dent in the $170,000 in COVID-related debt that they will have inherited.
All those bills for back rent and for inventory that a restaurant has had to chuck or that, in a retail setting, they perhaps have had to sell at fire sale prices.... Those costs have not gone away. They're not going to be forgiven in most circumstances, and they'll be an anchor around the necks of the business owners, dragging them under as the economy begins to recover. Then we'll wonder what the heck went on.