Small Business Week chance to support 'the backbone of the economy' - OrilliaMatters | Canada News Media
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Small Business Week chance to support 'the backbone of the economy' – OrilliaMatters

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NEWS RELEASE
ORILLIA DISTRICT CHAMBER OF COMMERCE
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The week following Thanksgiving, is Small Business Week (Oct. 18-24) and now more than ever businesses are grateful for all the support of local consumers that have made positive changes in their purchasing habits to support their own community.

During the first wave of COVID-19, innovations and changes within local businesses were completed with help from all levels of government to keep a very large portion of our businesses open and it is the local consumers who deserve the credit for coming to the aid of those businesses as a first choice.

During this second wave, we cannot afford to change that trend of supporting the shop, dine and finding tourism opportunities locally. It may be the only chance we have to keep our businesses open through the fall winter months ahead. There is an overwhelming sense of thankfulness from businesses based on community efforts to support their own community first.

“Without the tax base from local businesses, your municipal tax levels would increase substantially to fill the gap paid by the brick and mortar taxes of commercial and industrial properties,” said Nathan Brown, president of the Orillia District Chamber of Commerce.

“Out of country online retailers are not paying direct taxes in your community and that possible price advantage will eventually catch up to local residents,” said Brown. These local businesses not only employ your family, friends and neighbours but they also support local charities, athletics and community groups.

“The money spent here stays here and this has never been truer than during our travel limitations during the COVID-19 pandemic. The money spent in our community will stay in our community,” said Brown.

“Downtown Orillia businesses are very thankful and overwhelmed by the support of local residents over the past several months,” said Lisa Thomson-Roop. Manager of Downtown Orillia.

“Our merchants have worked diligently to implement safe practises to keep our community healthy by offering services such as curbside pick-up, delivery, online shopping, enhanced cleaning in stores as well as limiting the number of people in a location one time,” said Thomson-Roop. “Keeping the community we are proud to call home safe, is our top priority and shopping local will ensure the downtown not only survives but thrives for years to come. “

Councillor Ted Emond, Chair of the City’s Economic Recovery Task Force agreed.

“Small business is the backbone of the economy in and around Orillia,” said Emond. “These businesses have and continue to support our community, and it is more important than ever that we spend our money locally rather than on online retailers that contribute nothing to our economy. The message bears repeating. But more important is the continued effort to shop local.”

Kris Puhvel, Executive Director at Orillia & Lake Country Tourism commented on ways to help this effort.

“This fall, visit your favourite local restaurant or try a new one, take in one of the many experiences offered by our tourism businesses and buy your products from our local shops,” said Puhvel. “Your collective support will help ensure their well-being – now and in the future.”

Small Business Week is Oct. 18 through Oct. 24, 2020 and it should be noted that 9 out 10 Canadians in the private sector work for a small to medium sized business. #staysafeshoplocal

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Minimum wage to hire higher-paid temporary foreign workers set to increase

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OTTAWA – The federal government is expected to boost the minimum hourly wage that must be paid to temporary foreign workers in the high-wage stream as a way to encourage employers to hire more Canadian staff.

Under the current program’s high-wage labour market impact assessment (LMIA) stream, an employer must pay at least the median income in their province to qualify for a permit. A government official, who The Canadian Press is not naming because they are not authorized to speak publicly about the change, said Employment Minister Randy Boissonnault will announce Tuesday that the threshold will increase to 20 per cent above the provincial median hourly wage.

The change is scheduled to come into force on Nov. 8.

As with previous changes to the Temporary Foreign Worker program, the government’s goal is to encourage employers to hire more Canadian workers. The Liberal government has faced criticism for increasing the number of temporary residents allowed into Canada, which many have linked to housing shortages and a higher cost of living.

The program has also come under fire for allegations of mistreatment of workers.

A LMIA is required for an employer to hire a temporary foreign worker, and is used to demonstrate there aren’t enough Canadian workers to fill the positions they are filling.

In Ontario, the median hourly wage is $28.39 for the high-wage bracket, so once the change takes effect an employer will need to pay at least $34.07 per hour.

The government official estimates this change will affect up to 34,000 workers under the LMIA high-wage stream. Existing work permits will not be affected, but the official said the planned change will affect their renewals.

According to public data from Immigration, Refugees and Citizenship Canada, 183,820 temporary foreign worker permits became effective in 2023. That was up from 98,025 in 2019 — an 88 per cent increase.

The upcoming change is the latest in a series of moves to tighten eligibility rules in order to limit temporary residents, including international students and foreign workers. Those changes include imposing caps on the percentage of low-wage foreign workers in some sectors and ending permits in metropolitan areas with high unemployment rates.

Temporary foreign workers in the agriculture sector are not affected by past rule changes.

This report by The Canadian Press was first published Oct. 21, 2024.

— With files from Nojoud Al Mallees

The Canadian Press. All rights reserved.

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PBO projects deficit exceeded Liberals’ $40B pledge, economy to rebound in 2025

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OTTAWA – The parliamentary budget officer says the federal government likely failed to keep its deficit below its promised $40 billion cap in the last fiscal year.

However the PBO also projects in its latest economic and fiscal outlook today that weak economic growth this year will begin to rebound in 2025.

The budget watchdog estimates in its report that the federal government posted a $46.8 billion deficit for the 2023-24 fiscal year.

Finance Minister Chrystia Freeland pledged a year ago to keep the deficit capped at $40 billion and in her spring budget said the deficit for 2023-24 stayed in line with that promise.

The final tally of the last year’s deficit will be confirmed when the government publishes its annual public accounts report this fall.

The PBO says economic growth will remain tepid this year but will rebound in 2025 as the Bank of Canada’s interest rate cuts stimulate spending and business investment.

This report by The Canadian Press was first published Oct. 17, 2024.

The Canadian Press. All rights reserved.

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Economy

Statistics Canada says levels of food insecurity rose in 2022

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OTTAWA – Statistics Canada says the level of food insecurity increased in 2022 as inflation hit peak levels.

In a report using data from the Canadian community health survey, the agency says 15.6 per cent of households experienced some level of food insecurity in 2022 after being relatively stable from 2017 to 2021.

The reading was up from 9.6 per cent in 2017 and 11.6 per cent in 2018.

Statistics Canada says the prevalence of household food insecurity was slightly lower and stable during the pandemic years as it fell to 8.5 per cent in the fall of 2020 and 9.1 per cent in 2021.

In addition to an increase in the prevalence of food insecurity in 2022, the agency says there was an increase in the severity as more households reported moderate or severe food insecurity.

It also noted an increase in the number of Canadians living in moderately or severely food insecure households was also seen in the Canadian income survey data collected in the first half of 2023.

This report by The Canadian Press was first published Oct 16, 2024.

The Canadian Press. All rights reserved.

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