Federal aid during the COVID-19 pandemic in Canada

• The Prime Minister, Justin Trudeau, today issued the following statement on Small Business Week, which runs from October 15 to 21, 2023:
  "Today, we mark the beginning of Small Business Week , an opportunity to recognize the more than one million small and medium-sized businesses across Canada that are the backbone of our economy.
• "In today's rapidly evolving global business environment, we continue to listen to Canadian entrepreneurs and small business owners to ensure they receive the support they need.
• We will continue to be there for small business owners so they can keep putting their dreams into action and grow our local economies.
• "To Canada's small business owners: thank you for your contributions and your dedication to serving our communities.

• TORONTO, Aug. 15, 2023 /PRNewswire/ -- Visionary Education Technology Holdings Group Inc. (the "Company") (NASDAQ:VEDU), a private education provider located in Canada, with subsidiaries in Canada and market partners in China, today announced its financial results for the fiscal year ended March 31, 2023.
• Revenue from rent increased by $4.8 million, or 208.5%, from $2.3 million in fiscal 2022 to $7.1 million in fiscal 2023.
• Our gross profit increased by $1.2 million, or 44.1%, to $3.7 million in fiscal 2023 from $2.6 million in fiscal 2022.
• professional fees increased by $617,799, or 176.2%, from $350,636 in fiscal 2022 to $968,435 in fiscal 2023, representing 11.5% and 6.7% of our total revenue for fiscal 2023 and fiscal 2022, respectively.

• Canadians are feeling the effects of these stresses: in 2021, nearly 16 per cent of provincial households experienced some degree of food insecurity.
• But a basic income guarantee would involve regular payments, not just a one-time rebate.

What the research says

• We draw on our research with Coalition Canada, a network of basic income advocacy groups.
• Our research brought interdisciplinary teams of scholars and practitioners together to develop a series of case studies examining basic income through the lens of different sectors.
• Overall, our research suggests that a basic income guarantee could have a significant impact on the economic uncertainties faced by farmers and fishing communities in Canada.

Reducing economic uncertainty

• One potential impact of a basic income guarantee would be reducing economic uncertainty for the most vulnerable agriculture and fisheries workers.
• A basic income guarantee could offer individuals more financial security and control over their employment choices, and thus address the racialized, classed and gendered disparities prominent in food systems labour.

Supporting new fishers and farmers

• Supporting new farmers and fishers, especially those using more socially and ecologically sustainable practices, is an essential part of building a more resilient food system.
• While a basic income guarantee alone can’t address these challenges, it could provide greater economic stability for new farmers and fishers when they invest in infrastructure and training.

Preparing for future stressors

• A basic income guarantee could also be a step towards building resilience against ongoing stressors, like the climate crisis and extreme weather events, along with preparing for future emergencies.
• The COVID-19 pandemic demonstrated that those with more stable incomes and flexible work arrangements are better able to adapt to unexpected shocks.

Next steps for the food system

• A basic income guarantee also shouldn’t replace contributory programs, like the Employment Insurance fishing benefits.
• There is also a need to think systematically and holistically about the role of basic income across the food system.
• The only way to accomplish this is with further input from farming and fishing communities and Indigenous communities in collaboration with anti-poverty, food sovereignty and food justice organizations.

• This support allowed the economy to rebound and return to its pre-pandemic levels."
• We could not agree more with the Auditor General in this regard.
• These programs protected Canadian workers, businesses, and the economy, from the worst impacts of the pandemic.
• Through this work, for example, CRA's audit results to date show that the vast majority of applicants met the requirements of the CEWS program.