Briefing binder created for the Deputy Minister of Finance on the occasion of his appearance before the Standing Committee on Public Accounts on December 9, 2024 on the Auditor General of Canada's report 8, entitled “Canada Emergency Business Account”

Table of contents

• Opening Remarks
  • Set the tone by highlighting the key successes of the CEBA program and putting the program in its proper context.

Issue Notes

• Overview of the CEBA Program
  • A high-level summary of key stakeholders, objectives, and impacts
• Program Governance
  • Description of different implicated departments/agencies/organizations
  • Oversight mechanisms
• Program Evolution
  • Timeline and justification for program policy changes
  • Detail on the decision on collections
• Economic Effectiveness
  • Success of the program in reducing corporate insolvencies
  • Sufficiency of the program to provide financial support during the pandemic
• Canada Account
  • Background and how the Canada Account is governed
  • Role of Mins. of Finance and International Trade in approving Canada Account transactions
• Administrative Costs
  • Amount of administrative expenditures, by EDC and FIs
  • Mechanism for overseeing EDC administrative costs
• Collections and Enforcement
  • Current status of collections and enforcement efforts
  • Key roles and responsibilities of EDC and CRA
• Ineligible CEBA Loan Holders
  • Remediation and reclassification process
  • Current status
• Audit Overview and Recommendations
  • Summary of findings of fact, recommendations
  • Departmental responses to recommendations
• Media Overview
  • Previous media coverage of the CEBA program
  • Expected areas of focus following the publication of the OAG report
• Questions and Answers
  • Questions and answers from all the issue notes in this binder

Background

• Parliamentary Environment Analysis (CPA/PA lead)
• PACP Committee Member Bios (CPA/PA lead)
• Action Plan
  • A table summarizing the recommendations, the departmental response and key expected milestones
• Office of the Auditor General of Canada News Release
• Government of Canada Response
• Export Development Canada Response
• Summary of December 2 PACP Meeting
• Summary of December 4 PACP Meeting
• OAG CEBA Report

CEBA News Releases

1. Minister Morneau and Minister Ng mark the launch of the Canada Emergency Business Account
2. Prime Minister announces additional support for small businesses
3. Prime Minister announces expansion of support for workers and small businesses
4. Farmers to directly benefit from changes to Canada Emergency Business Account
5. Update on Financial Support Offered to Farmers from CEBA Changes
6. More small businesses can soon access the Canada Emergency Business Account
7. Government announces greater flexibility and extension of Canada Emergency Business Account
8. Canada Emergency Business Account now open to businesses using personal banking accounts
9. Government expands Canada Emergency Business Account loans
10. Government announces extension of Canada Emergency Business Account to help small businesses
11. Government extends loan forgiveness repayment deadline for the Canada Emergency Business Account
12. Fighting for the middle class
13. Canada Emergency Business Account: Government extends repayment and partial loan forgiveness deadlines