Sault entrepreneurs gathered at Quattro Hotel & Conference Centre Wednesday for a Sault Ste. Marie Chamber of Commerce Fireside Chat with federal Minister of Small Business Rechie Valdez and Sault MP Terry Sheehan.
“It’s also about making sure there’s wrap-around supports. We just need to continue to work on supporting the people that need help,” Sheehan said. “There is the need for housing and developing housing much quicker and faster,” Valdez agreed, regarding ways to address social ills. “I’m a supporter of the mayor’s plan to have a police station downtown. What we did on a federal level was reverse the cuts to the RCMP and the Canada Border Services Agency. The previous government took almost a billion dollars from those agencies. We’ve reinvested in them. They laid off a bunch of people at our border so the border where some of the drugs and guns are coming in, we’ve reinvested in that.
“We need a multi-pronged approach to this. It’s not just a problem in Sault Ste. Marie, it’s a problem across Canada and the world. I have a lot of American friends that are saying the same thing. I know a man in the information technology business who moved from inside an American city just because he couldn’t live in the downtown any more, so what we need to do here is work with the province, the city and the downtown communities.
“What we did do when we implemented the changes on capital gains was ensuring that for small businesses we increased the lifetime capital gains exemption from $1 million to $1.25 million. That will allow more small businesses to have more of a tax relief.”
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