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Liberal Candidate Paul Chiang Steps Down Amid Controversy

Paul Chiang, a Liberal candidate in the Markham-Unionville riding, has announced his resignation following backlash over comments he made regarding a Conservative opponent, Joe Tay. Chiang suggested that individuals could claim a bounty offered by Hong Kong authorities by turning Tay over to the Chinese consulate. This statement, made during a press conference in January, sparked widespread criticism and raised concerns about foreign interference in Canadian politics. The Royal Canadian Mounted Police (RCMP) has since launched an investigation into the matter, citing potential threats to Canada's democratic processes. Chiang issued an apology, calling his remarks a "deplorable lapse in judgment," but the controversy persisted. Conservative leader Pierre Poilievre condemned the comments, stating that they endangered Tay's safety and sent a chilling message to the community. Chiang's resignation comes as Liberal leader Mark Carney faces mounting pressure to address ...
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Businesses urge Ottawa to extend CEBA loan deadline amid economic slowdown


The Canada Emergency Bank Account (CEBA) loan program, which provided nearly a million businesses with up to $60,000 in interest-free loans to cope with the COVID-19 pandemic, is set to expire on Thursday. Businesses that repay the loan by the deadline can receive partial forgiveness of up to $20,000, or one-third of the loan. After the deadline, the debt is rolled into a three-year loan with a five per cent annual interest rate.

However, many business groups are calling on the federal government to give CEBA loan holders more time to repay the loans and receive the forgiveness, citing the ongoing economic challenges and lockdowns caused by the virus. They argue that forcing businesses to repay the loans now could lead to more insolvencies and closures, especially in hard-hit sectors such as accommodation and food services.

The federal government, on the other hand, has warned that delaying or forgiving CEBA loans would have significant financial consequences for the public finances, as it would add to the already large deficits and debt. Economists at Desjardins estimate that more than half of businesses in Canada received the CEBA loan, and that the total amount distributed was $49.2 billion. They also caution that postponing or cancelling the repayment of the loans could risk additional upward pressure on interest rates, which could affect the cost of borrowing for the government and the private sector.

The CEBA loan program was one of the key measures introduced by the federal government to support businesses during the pandemic. It was launched in April 2020 and was later expanded to include more eligible businesses and increase the loan amount. Businesses that received the loan can use it for expenses such as rent, payroll, utilities, and insurance. The program is administered by financial institutions in cooperation with Export Development Canada.

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