In this edition:
- Auditor-General reports that $3.5B in CEBA loans went to ineligible recipients
- Michael Lindsay named interim President and CEO of Metrolinx
- New Niagara Geopark signs highlight Indigenous trails
- U.S. Postal Service won’t accept Canada-bound mail due to strike
- Welland radio stations aim to move back into urban area
- Alectra Utilities invites customer feedback on future electricity grid planning
- RESCON takes City of Toronto to court over Green Standard performance measures
- Focus on Finance & Economy
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Photo credit: Backcountry Media / Adobe Stock
Auditor-General reports that $3.5B in CEBA loans went to ineligible recipients
The Canada Emergency Business Account (CEBA) program quickly disbursed $49.1 billion in loans to small businesses to cover expenses that could not be deferred during the COVID‑19 pandemic. Of those loans, 91% went to eligible businesses. As of 31 March 2024, approximately 83% of the total loan amounts originally disbursed had been repaid, with a portion forgiven.
Based on the Auditor-General’s report, an estimated $3.5 billion went to ineligible recipients.
In a statement made in response, Finance Minister Chrystia Freeland said that the report “fails to properly acknowledge that CEBA was designed and delivered during a global pandemic. Within less than two weeks, the federal government stood up new, emergency support for 898,000 small businesses across the country.”
Picture credit: Infrastructure Ontario
Michael Lindsay named interim President and CEO of Metrolinx
Today, the Ontario government named Michael Lindsay as the new interim-President and Chief Executive Officer of Metrolinx, effective as early as December 16, 2024. Mr. Lindsay has been given a clear mandate with opening Eglinton Crosstown as his top priority. Mr. Lindsay will move over to Metrolinx on December 9 to begin supporting the transition process.
Picture credit: Niagara Geopark
New Niagara Geopark signs highlight Indigenous trails
In keeping with its mandate, the Geopark intends to tell both the stories of Niagara’s unique geology and landscapes, together with “fascinating” stories of Niagara’s Indigenous Peoples, said Niagara Geopark manager Aydan Drumm.
Picture credit: Lost_in_the_Midwest / Adobe Stock
U.S. Postal Service won’t accept Canada-bound mail due to strike
The U.S. Postal Service has temporarily suspended accepting mail headed to Canada due to the strike by Canada Post workers.
It is asking customers to refrain from mailing items addressed to Canada until further notice.
Picture credit: Pixel-Shot / Adobe Stock
Welland radio stations aim to move back into urban area
The owner of 91.7 Giant FM and New Country 89.1 stations, which operate on a roughly 8.1-hectare parcel of property on Forks Road in southwest Welland, is looking to move.
The property, on which sits not only tall AM radio towers and other equipment for a station, but also solar panels capable of lowering hydro power costs down to nearly nothing, has been put up for sale.
Photo Credit: Alectra Utilities
Alectra Utilities invites customer feedback on future electricity grid planning
Alectra Utilities is encouraging customers to participate in its Customer Engagement Survey to help shape the future of energy delivery and guide its long-term investment plan.
Each residential and small business customer completing the survey will be entered into a draw for one of 10 chances to win $1,500 in free electricity, applied as a credit directly to their account. Large business customers have one of 3 chances to win a team breakfast or lunch valued at $500.
Picture credit: S… / Adobe Stock
RESCON takes City of Toronto to court over Toronto Green Standard (TGS) performance measures
The Residential Construction Council of Ontario (RESCON) has filed a legal application in the Ontario Superior Court of Justice against the City of Toronto over the escalation of the Toronto Green Standard (TGS) performance measures.
RESCON is seeking a mandatory order that would enforce the Building Code Act and prohibit the city from imposing building regulations on planning applications because they are beyond the legal authority of the city.
Did you know?
Focus on Finance & Economy
A mixed bag: Canadian rental developer sentiment varies from region to region
Through the Daily Updates, the GNCC aims to deliver important business news in a timely manner. We disseminate all news and information we feel will be important to businesses. Inclusion in the Daily Update is not an endorsement by the GNCC.
