In light of the recently announced capacity restrictions on restaurants in many provinces across the country, Restaurants Canada is again calling for the following changes to federal support programs to help foodservice businesses continue contributing to jobs, economic growth and vibrant neighbourhoods across the country:
- An eligibility threshold starting at 10% (instead of 40%) revenue decline for the new Tourism and Hospitality Recovery Program, with a wage subsidy rate that is calculated as 1.2x the percentage decline in sales up to a maximum of 75%, to ensure restaurants can survive the ongoing pandemic.
- Greater forgiveness for all government-backed business loans and an extension of the repayment deadlines for loans through the Canada Emergency Business Account (CEBA).
- Tax credits or other sources of funding to defray the exorbitant costs incurred from pandemic safety expenditures.
Restaurants Canada is also calling on all provincial governments to amplify our call for Federal assistance, as well as looking at ways to provide direct support to the foodservice industry which has borne the brunt of the cost of battling this pandemic. Provincial programs that provided limited support last year have expired and are not available to those that need it the most.
Restaurants will not be able to survive yet another wave of restrictions without more inclusive financial support. It is imperative that all governments act quickly to limit the damage to all affected businesses.