“Businesses in customer facing sectors that have made it to today, so close to reopening and herd immunity, face two grim realities: lower revenues for up to two years and an inability to take on more debt. We are very worried about a wave of business closures through 2022 as they face a tipping point of continued revenue loss and maximum indebtedness. The situation is untenable with the current one-size-fits-all approach to government support programs,” said Perrin Beatty, President and CEO, Canadian Chamber of Commerce.
(OTTAWA) – June 10, 2021 – In advance of the G7 Leaders’ Summit occurring June 11-13, the Canadian Chamber of Commerce’s Vice President Policy & International, Mark Agnew, made the following statement on the key actions that the G7 needs to take to accelerate the global economic recovery.
“This week’s G7 Summit marks the first major in-person gathering of world leaders since the start of the pandemic. Having the leaders meet in-person is a critical signal to businesses and consumers that there is a light at the end of the pandemic tunnel.
As Canada’s representative to the G7’s business advisory group, the Canadian Chamber has actively worked with our counterparts to provide recommendations on the key areas where we hope to see progress. Now is the time for action from government.
Health Canada’s Expert Panel has provided a science-based framework for how Canada can safely enable international mobility. We hope that the G7 will make progress on the safe resumption guidelines for international travel and accelerate an international standard on vaccine passports, both of which are important for the 25% of businesses that face obstacles with the status quo.
The widespread deployment of vaccines globally is critical to ending the pandemic. The G7 needs to take a clear stand opposing export restrictions and supporting the Ottawa Group Trade and Health Initiative as a means to accelerate global vaccination. The pandemic is a global problem requiring global solutions.
The G7 must also make demonstrable progress to strengthen the resiliency of critical mineral supply chains. Ensuring greater supply of these products is essential to the production of battery and semi-conductor technology, both of which are necessary preconditions for achieving our Net Zero 2050 aspirations.”
About the Canadian Chamber of Commerce – Because Business Matters
The Canadian Chamber of Commerce helps build the businesses that support our families, our communities and our country. We do this by influencing government policy, by providing essential business services and by connecting businesses to information they can use, to opportunities for growth and to a network of local chambers, businesses, decision-makers and peers from across the country, in every sector of the economy and at all levels of government, as well as internationally. We are unapologetic in our support for business and the vital role it plays in building and sustaining our great nation.
For more information, please contact:
firstname.lastname@example.org (preferred and fastest response time)