According to a survey conducted by the Universit du Qubec Trois-Rivires' research institute on small and medium size businesses, the SaguenayLac-Saint-Jean region would be the most affected by the economic effects of COVID-19. This is not surprising. In fact, in our region, the tourism industry generates more than $300million in economic activity, including $58million for the cruise industry alone. The $70million that you announced yesterday is a very modest start. What does the government intend to do for the tourism industry in the regions?
Mr.Chair, it goes without saying that the tourism industry is indeed very much affected. That is why we are responding to their concerns and worries. We have therefore extended the emergency wage subsidy until the end of August. We are also providing the Canada emergency commercial rent assistance, as well as the $40,000loans from the Canada emergency business account. We have also just announced $70million in support for Canada's tourism sector. I am having good talks with various stakeholders in Quebec, including Martin Soucy from the Alliance de l'industrie touristique du Qubec. In addition, we are going to do our part to support the tourism sector through Economic Development Canada.
Mr.Chair, the tourism industry in the SaguenayLac-Saint-Jean region is the sum of all its stakeholders. Many of these businesses are too small to receive the assistance announced by the federal government. Overly restrictive standards will prevent some tourist accommodation from welcoming guests this year, even though they will have to pay their bills every month. What does the government plan to do to help the regions most affected economically?
I thank my colleague for his important question. What he is describing is the reason we are currently working on a game plan. We really want to be able to reach these small businesses, of which there are many in SaguenayLac-Saint-Jean, in Quebec and across the country. That is why the Prime Minister and the Minister of Finance have committed an additional $1billion to help those businesses that fall through the cracks. We need to respond now, and I will have more to say about it in the next few days.