Updates from Minister Valdez
New Federal Supports for Small Businesses Impacted by Tariffs
Small businesses are the backbone of Canada’s economy, and our new government is putting them at the centre of growth. Last week, Minister Valdez joined Prime Minister Carney to announce a new package of supports to help SMEs impacted by tariffs to adapt, invest, and thrive:
- BDC loans expanded: Small businesses impacted by tariffs can now access loans of up to $5 million through the Business Development Bank of Canada — providing the capital needed to manage cash flow and pursue new opportunities.
- $1 billion for SMEs: A Regional Tariff Response Initiative delivered by the Regional Development Agencies will offer flexible financing and new non-repayable contributions for businesses in sectors directly impacted by U.S. tariffs.
- Buy Canadian Policy: A new government-wide approach to procurement will prioritize Canadian suppliers, opening more opportunities for SMEs to win contracts and strengthen domestic supply chains.
These measures mean more stability for entrepreneurs, more security for workers, and more prosperity for Canadian families.
Protect, build, and transform Canadian strategic industries
Beyond small businesses, the federal government is also moving forward with broader industrial strategy investments to build a more resilient Canadian economy. A new $5 billion Strategic Response Fund will help firms across sectors diversify and grow. And a reskilling package will support up to 50,000 workers with more flexible Employment Insurance and training opportunities.
Together, these initiatives reflect a bold plan: to make Canada’s economy less dependent on a single trading partner, more self-reliant in the face of global shocks, and better positioned to create good jobs and long-term prosperity.
Canada Strong Pass: A Summer Success
This summer, Canadians embraced the new Canada Strong Pass. Since its launch, the pass has driven a 15% increase in visits to national museums and Parks Canada sites, while also leading to tens of thousands of new VIA Rail bookings. Families saved money while discovering Canada, and local restaurants, hotels, and shops benefited from more visitors. By making travel more affordable and accessible, the Canada Strong Pass has strengthened communities, supported small businesses, and created a summer of renewed national pride.
Making life more affordable for Canadians
As of Canada Day, the federal government’s new middle-class tax cut is in effect. A two-income family is now saving up to $840 every year — real relief at a time when Canadians are watching every dollar. And on August 1, tolls on the Confederation Bridge dropped from over $50 to just $20, while fares on Marine Atlantic and Quebec federally supported ferries were cut in half. These changes are making travel more affordable for families and boosting regional economies.
Improving Service at the CRA
We have heard from small business owners that long wait times at the Canada Revenue Agency are frustrating. That’s why the Finance Minister has directed the CRA to cut wait times and improve service for families, seniors, and small businesses. Canadians deserve faster, simpler, and more reliable service — and our government is making that the standard moving forward.
Supporting 2SLGBTQI+ Communities
In August, Minister Valdez reaffirmed the federal government’s unwavering support for 2SLGBTQI+ Canadians. She highlighted progress under Canada’s first-ever 2SLGBTQI+ Action Plan, including $25 million for entrepreneurs, over $75 million invested across 160 projects, and new funding to improve safety and security at Pride events across the country.
Advancing Women’s Economic Security
Minister Valdez announced over $650,000 in federal funding to help women with disabilities overcome barriers to economic security. This national project delivered by Realize will work with employers across Canada to improve workplace policies, provide targeted training, and foster peer networks — ensuring that no woman is left behind.
National Leadership on Gender Equality
Earlier in the summer, Minister Valdez co-chaired the annual meeting of Federal, Provincial, and Territorial Ministers Responsible for the Status of Women in Yellowknife. Together, ministers reaffirmed their commitment to advancing gender equality and supporting women and gender-diverse Canadians across Canada.
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