Ottawa planning rent relief program for smaller businesses [Financial Post (Toronto, Ontario, Canada)]
Canadian Imperial Bank of Commerce (CM)
Last canadian imperial bank of commerce earnings: 2/26 05:53 am
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Source: Financial Post
Ottawa planning rent relief program for smaller businesses Could include loans for commercial landlords who would reduce or waive rents from small business from April through June Rent relief is the next target of government programs aimed at keeping small and medium-sized businesses afloat during the coronavirus pandemic, Prime Minister Justin Trudeau said Thursday. Ottawa is understood to be contemplating a program that would include loans for commercial landlords who would, in turn, reduce or waive rents from small businesses for a period extending from April through June. However, details have not been hammered out and must be done in consultation with the provinces, which have responsibility for landlord-tenant relationships. Economists say commercial rent relief would boost the effectiveness of other aid programs, such as wage subsidies and emergency loans, the latter of which was expanded by Ottawa on Thursday to include both smaller and larger firms. As business groups await
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