Help is on its way for the arts and live events industry, with $181.5 million for the Canadian Heritage department and the Canada Council for the Arts
OTTAWA — The federal government has announced new support in its fall economic statement to help the tourism industry and other sectors that have been devastated by the COVID-19 pandemic, including through arranging low-interest loans of up to $1 million for heavily impacted businesses.
“We know that businesses in tourism, hospitality, travel, arts and culture have been particularly hard-hit,” Finance Minister Chrystia Freeland said in her speech to the House of Commons.
“So we’re creating a new stream of support for those businesses that need it most — a credit availability program with 100-per-cent government-backed loan support and favourable terms for businesses that have lost revenue as people stay home to fight the spread of the virus.”
The document also includes new money to help the arts and live events industry, with $181.5 million for the Canadian Heritage department and the Canada Council for the Arts to expand their funding programs.