Tourism industry welcomes federal support
The measures announced by the Prime Minister are in line with what TIAO has been campaigning for since the COVID-19 crisis escalated. A significant rise in the proposed payroll support and access to credit is exactly what our members have asked for and the federal government has listened to our requests.
The tourism industry is the backbone of our local economy, employing over 400,000 people in every corner of the province. Many are small family businesses representing the entire income of a family; in rural towns these businesses are the staple of the local economy.
The 75% wage subsidy backdated to March 15 will help businesses to retain and rehire staff and the business loans and deferral of GST and HST payments will be a major help in improving cash flow and crisis management.
After weeks of uncertainly, this is a major step forward in ensuring our industry survives these unprecedented times and we welcome the federal government’s willingness to listen to those on the front line and act accordingly.
Tourism Industry Assoc.
of Ontario (TIAO)