We're starting to see the price of some of those policies and the lack of changes. We were, of course, very happy to have your party's support for an increase to the CEBA deadline. Unfortunately, that didn't happen. The consequences are significant. Right now we are seeing dramatically higher business bankruptcies—not just bankruptcies but also failures.
I will note something that often surprises people: For every one business that goes bankrupt, there are nine other businesses that just quietly close their doors. We believe bankruptcies represent, essentially, one in 10 business closures. Most businesses just find an orderly way to close their doors, pay their bills and cease operations. It's heartbreaking to see some of those businesses fail.
I will say that business failure is an accepted part of being an entrepreneur. Businesses fail in good times and in bad times with good government policies and bad government policies. However, we are seeing such a dramatic rise in business bankruptcies and, along with it, a reduction in the number of business start-ups. Those two things have not been seen together in the way they're happening right now—ever. We now have a net outflow of business owners. I worry the back-end damage of the CEBA loan program will push more over the edge. Businesses are not going to make it, not because they're not viable businesses but because they can't outrun their debt.
It is good news that there's going to be some money coming back from the carbon tax rebate. It's long overdue. That, of course, isn't going to be the case in Quebec or British Columbia, but it is the case in the eight other provinces. Also, we are hoping that some pieces of the capital gains changes that are positive will send a good message to some entrepreneurs. However, I worry about where we're headed in Canada. For small business owners, these are not easy days.