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Ottawa’s decision to extend the time small businesses have to repay a pandemic-era loan, but not provide them more time to get partial debt relief was a “very balanced” and “fiscally responsible” move, Canada’s new minister of small business said, even though business associations still aren’t happy.
“The decision we made was as a result of listening,” said Rechie Valdez, who took over from Mary Ng this summer. “As soon as I got sworn in, I have been travelling the country, meeting different small businesses. What they have asked for is flexibility and time, which is why we provided that extension.”