The federal government may be unable to recover upwards of $5 billion in pandemic loans to small businesses, The Globe & Mail reports. The Canada Revenue Agency has taken over responsibility for collections on the Canada Emergency Business Account. According to a briefing obtained by the Globe, the CRA may need to seek out about 100,000 debtors, including 40,000 who weren’t eligible to receive loans to begin with.
Ottawa prepares to write off CEBA debt
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