The Economy

Question period dealt with the economy, specifically the impact of the revised U.S. tariff schedule on Canadian and Quebec businesses. Bloc Québécois members said the government’s newly announced measures amount to loans, not direct cash, and that small and medium-sized businesses facing tariff-driven losses need immediate cash flow support to survive and keep workers. Liberal ministers Mélanie Joly and Dominic LeBlanc pointed to $1.5 billion announced that day to help business cash flow, including loans with no interest in the first year and low rates after, said business groups such as the Fédération des chambres de commerce du Québec support the measures, and said more help would come if needed.Written by AI from the debate. Updated .

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6 statements

Christine Normandin, Saint-Jean

Bloc Québécois
“The government's new plan will not help small businesses hit by U.S. tariffs. Businesses are already in debt and need direct cash to survive, not more loans. Will the government make a better plan?”
Official Hansard

Mr. Speaker, the Liberals have obviously understood that overlooking our businesses and the tariff crisis as they did in their economic update was outrageous. Unfortunately, today’s announcement seems improvised. It will not help the SMEs hardest hit by the revised U.S. tariff schedule. All businesses are saying the same thing: They do not want more loans; they are already in debt. In the very, very near future, in addition to assistance with modernization, they will need cash most of all to survive. This is a first step, but will the government confirm that it is not going to stop there and that it will immediately get back to the drawing board?

Mélanie Joly, Minister of Industry and Minister responsible for Canada Economic Development for Quebec Regions

Liberal
“We announced $1.5 billion today to help businesses with their cash flow. We are offering them loans with no interest in the first year and low interest after that. Business groups support this help.”
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Official Hansard

Mr. Speaker, I thank my colleague for her important question. The fact is that we announced some good news for our businesses this morning: $1.5 billion to help with cash flow. Extremely favourable loans are also on the table, with 0% interest in the first year and very low interest rates in the second and third years. Furthermore, there is no requirement to repay the loan before the end of the term, that is, in three years. We are doing that because we know that our businesses need help. We are there to help them. We received a positive response from the Conseil du patronat du Québec and from Manufacturiers et exportateurs du Québec. We are meeting their needs to the letter.

Christine Normandin, Saint-Jean

Bloc Québécois
“Businesses are at risk of closing. They need cash right now to pay their daily bills and help with wages so they do not lay off workers. When will the government help them?”
Official Hansard

Mr. Speaker, we will work together on the first step. However, to quote the Fédération des chambres de commerce du Québec, “For businesses whose survival is currently in jeopardy, this is not enough. They need to have the cash flow necessary to maintain their day-to-day operations, not take on more debt or make investments that will only benefit them in the medium to long term.” We repeat: Immediate assistance and a wage subsidy are needed to prevent layoffs. When will the government finally do something?

Mélanie Joly, Minister of Industry and Minister responsible for Canada Economic Development for Quebec Regions

Liberal

Linked statement

“Quebec business leaders are happy with our work, but we will do more. We are working on solutions to help Canadian companies hurt by new American tariffs.”
Official Hansard

Mr. Speaker, I was just speaking with the CEO of the Fédération des chambres de commerce du Québec. She told me how pleased she was with the government’s work. Of course, there is always more to be done, and we will certainly be doing more. In the meantime, I think this is good news. It is good news for companies like BRP, which have been affected by the White House’s new interpretation of tariffs. The same applies to companies like Manac that employ thousands of people in Quebec and across the country. That is why my colleague and I were in solution mode this morning.

Gabriel Ste-Marie, Joliette—Manawan

Bloc Québécois
“New American trade taxes are hurting Quebec manufacturers, especially small businesses that risk shutting down right now. Today's government announcement ignores them. I want the government to change its plan and help them immediately.”
Official Hansard

Mr. Speaker, the revised U.S. tariff schedule in effect since April 6 is a disaster for Quebec’s manufacturing industry. The Desjardins Group reports that a quarter of all Quebec exports to the United States are now subject to tariffs. We are talking about a 60% increase overnight. Moreover, it is our small and medium-sized businesses that are being hit. Today’s announcement ignores the businesses that are most at risk. They cannot take on more debt to modernize in the medium term when they are at risk of shutting down right now. They need help today. Will the government change course?

Dominic LeBlanc, President of the King's Privy Council for Canada and Minister responsible for Canada-U.S. Trade, Intergovernmental Affairs, Internal Trade, and One Canadian Economy

Liberal
“We announced new help today for businesses hurt by unfair American taxes on our goods. We have met with these businesses, and we will do more to help them if needed.”
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Official Hansard

Mr. Speaker, as my colleague the Minister of Industry clearly indicated, today we announced additional measures to support these businesses that are facing unjustified tariffs from the Americans. I, too, have met with many of these businesses, as has my colleague, of course. Our ministers and our members of Parliament are very much aware of these challenges. That is precisely why we have supported these industries and that is precisely why we are here to do more if necessary.

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