Thank you.
Good morning.
Thank you to the committee members for inviting me today. It is always a pleasure to appear before the committee.
Since my last appearance at this committee in late April, Canada's COVID-19 economic response plan has helped protect millions of jobs, provided emergency support to families and kept businesses afloat as they deal with the impact of the COVID-19 pandemic.
As communities cope with the second wave of the COVID-19 pandemic, it is safe to say these are extraordinary, challenging and stressful times. As elected officials, we share the responsibility of leading by example and reassuring our constituents by being there for them and showing them we are committed to helping.
Since the beginning of the health crisis, our government has been there. We have listened to Canadians and consistently adjusted the supports available to them to ensure the social safety net protects those who need it most.
Alongside programs like the Canada emergency wage subsidy and the Canada emergency business account, a critical part of our response has been the regional relief and recovery fund, or RRRF. Delivered through the six regional development agencies, the fund helps businesses and not-for-profit organizations that may not be eligible for other programs or that require additional assistance. It has proven to be a lifeline for businesses that might otherwise not have survived.
In rural communities, we have provided more funding to Community Futures Development Corporations, commonly known as CFDCs. They help rural businesses access capital and technical support.
Since we launched the RRRF in May, it has assisted more than 12,000 businesses, helping them cover costs and protect more than 100,000 jobs across the country. It has been vital in helping them keep their employees, pay their bills and prepare for a more sustainable future.
In the midst of a second wave and in the face of an alarming increase of COVID-19 cases in some parts of the country, many businesses across the country find themselves on shaky ground. That's why just last month our government announced that it would provide an additional $600 million to support workers and businesses through the RRRF. This will bring our RRRF support, through the regional development agencies, to more than $1.5 billion to further help businesses and organizations weather the continued impact of the COVID-19 pandemic.
Over the past several months, I've heard first-hand, through phone calls and video teleconferences, from many businesses and organizations that have benefited from what they have described as very much welcome support.
Through CFDCs and Business Development Centres, or BDCs, in Quebec, we have provided more than 3,400 businesses with liquidity and technical support, thereby protecting 15,000 jobs. Some 600 of those are in northern Quebec, including in the Abitibi—Témiscamingue region.
I have no doubt that information will be of particular interest to my fellow member Mr. Lemire.
Across Canada we've helped businesses and communities respond to the challenges of COVID-19, whether it has been helping businesses in Stratford, for example—I'm convinced John will want to have more information about that—to adapt to the loss of the festival; working with Edmonton Global to track investments and promote trade—I'm convinced James may be interested in that information as well—or funding an incubator in Toronto that will help entrepreneurs from under-represented groups. If Nate wants information about that, I'm here as well.
As we all know, tourism businesses have been deeply affected by the crisis. Thanks to the RRRF, as well as the broader measures implemented by our government, we have been able to help numerous tourism businesses. We know, however, that our work must continue, and it is continuing because they are confronted with unique circumstances.
We are working closely with tourism stakeholders, as of course they are dealing with the impact of the pandemic.
Businesses of all sizes have been hit hard by the COVID-19 pandemic, and the regional relief and recovery fund is here for them.
We're here to reaffirm to businesses that the government has their backs, obviously, and of course I am willing to answer my colleagues' questions regarding anything the regional development agencies have been doing in the context of this pandemic. Our officials, Nav's and mine, are here to answer any specific questions as well.
Thank you.