QUESTION PERIOD — Finance
Small and Medium-Sized Businesses
June 10, 2026
Government leader, new Equifax data paints a troubling picture of the challenges facing Canadian businesses. Business owners are scaling back their use of credit, delinquencies are on the rise, and many firms are struggling with cashflow pressures and ongoing economic uncertainty. Yet, your government continues to insist that its economic plan is working; in fact, you told this chamber yesterday that we are “in a good place.”
Leader, how does the government reconcile that claim with the reality that more businesses are falling behind on their financial obligations? It’s not me saying this; it’s new Equifax data, which clearly isn’t skewed.
Is this what the government considers a good place for Canada’s economy, with small- and medium-sized businesses being cash-strapped and concerned?
As I mentioned yesterday, the government is helping small- and medium-sized enterprises. I’m aware of the Equifax report, but we are cutting taxes on income, housing capital gains and business investment. We are reducing red tape, notably with the introduction of new regulatory sandboxes, which will directly help small- and medium-sized businesses. We’re increasing the financing cap for small- and medium-sized businesses to $5 million. We’re providing $500 million to the Business Development Bank of Canada, or BDC, to provide more commercial resources and insight. We have launched a productivity super-deduction to let SMEs write off new equipment costs. We’re investing in entrepreneurs, with women-owned businesses now comprising up to 20% of small- and medium-sized businesses.
We’re helping small- and medium-sized businesses. We know that there’s a challenge, but the government is committed —
Thank you, Senator Moreau.
Senator Moreau, small businesses are not just facing challenges. The backbone of our economy is in peril. Many are facing higher costs, weaker demand and a rising debt burden. I’m glad to see you’ve acknowledged this is a reality. However, it’s been 13 months, and government policies are clearly not working because the graph continues to force a situation on smaller businesses of higher costs, weaker demand and a burden on debt. When are you going to make a turn —
Thank you, Senator Housakos.
The government is committed to continuing to help businesses throughout the country, but there’s a positive outlook already. Wages have outpaced inflation every month that this government has been in office, and Canada now ranks as the most attractive country in the world for infrastructure investment and for investment generally as well. This will help, and diversification of our economy will help businesses throughout Canada.
