PwC Federal Budget Instant Reaction: $200 billion in existing and new measures to support financing for Canadians and Canadian business



    
    First time in 15 years Canada Small Business Financing Program has
    changed
    

    OTTAWA, Jan. 27 /CNW/ - PwC Canada tax specialists commented today:

    Access to $200 billion of additional financing is now going to become
available through an Extraordinary Financing Framework to improve the access
to financing and to strengthen the financial system - a much needed addition
to the borrowing capacity of Canadians and Canadian businesses to manage
through the downturn.

    
    Certain measures under the Extraordinary Financing Framework include:

    -   An additional $50 billion for the Insured Mortgage Purchase Program,
        increasing its size to $125 billion.
    -   $13 billion to increase the lending of Crown corporations, of which
        $5 billion will be delivered through the new Business Credit
        Availability Program.
    -   $12 billion for a Canadian Secured Credit Facility to support
        financing of vehicles and equipment.
    -   An increase in the loan limit for small businesses under the Canada
        Small Business Financing Program. The current limit, which has not
        changed in the past 15 years, will be raised from $250,000 to
        $350,000 and to $500,000 for loans made for acquiring real property.
    

    A PwC Budget Flash with additional Budget highlights will be issued later
today followed by a detailed Budget Memo. For more information and detailed
commentary on the Budget please contact, Carolyn Forest,
carolyn.forest@ca.pwc.com, 416-814-5730 or visit www.pwc.com/ca/budget.

    PricewaterhouseCoopers (www.pwc.com) provides industry-focused assurance,
tax and advisory services to build public trust and enhance value for its
clients and their stakeholders. More than 155,000 people in 153 countries
across our network share their thinking, experience and solutions to develop
fresh perspectives and practical advice. In Canada, PricewaterhouseCoopers LLP
(www.pwc.com/ca) and its related entities have more than 5,200 partners and
staff in offices across the country.
    "PricewaterhouseCoopers" refers to PricewaterhouseCoopers LLP, an Ontario
limited liability partnership, or, as the context requires, the
PricewaterhouseCoopers global network or other member firms of the network,
each of which is a separate and independent legal entity.





For further information:

For further information: Carolyn Forest, PricewaterhouseCoopers LLP,
(416) 814-5730, carolyn.forest@ca.pwc.com

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