Thank you, Mr. Chair.
I completely agree with what Mr. Lamontagne just said. The economic impact of the cultural sector is always underestimated, even though it is an economic driver.
My next question is for Mr. Davidson.
Mr. Davidson, in your presentation, you talked about the Canada emergency business account. You're asking for the loan repayment deadline to be extended by two years. We have also heard a lot of recommendations from the Quebec chambers of commerce, which are asking for a one-year deferral instead.
According to data from the Canadian Federation of Independent Business, 19% of SMEs will be in serious trouble without this deferral. There was the pandemic, and then the rise in interest rates. A number of companies have continued to take on debt and are now threatened with bankruptcy.
A number of ministers seem to be very much in favour of this request, unlike the Minister of Finance and her senior officials. They say they want to shut down pandemic-related programs and that extensions will cost too much. However, if we compare the cost of 19% of SMEs going bankrupt to the cost of the requested extensions, it seems obvious that it would be better for the government to grant a one-year extension than to shut everything down.
What do you think? How would you convince the Minister of Finance to reverse her decision?