Liberals introduce bill for new COVID-19 spending after economic update
Making passage of the legislation a confidence vote that could trigger an election if it doesn’t garner the necessary support.
How we deal with our ever-rising nation debt?
Federal deficit of $381 billion and a debt exceeding $1 trillion, just under 50% of gross domestic product.
Budget update won’t have fiscal anchor until after crisis: PM
It will provide some guidelines for ongoing spending to help the economy.
Report says pandemic intensified economic disparities
BDO affordability index shows nearly two in five say their personal finances deteriorated during the first wave.
Getting house in order top priority for Canadian businesses: BDC
Indebted businesses more ‘fragile’ than during 1st wave, Business Development Bank of Canada economist warns.
Economic freedom on the wane worldwide
Policy response to COVID-19 has put more of the economy into government hands, threatening economic freedom globally.
Only private investment will save Canada’s economy
Generating, rather than consuming government revenues will require a profound reversal by the Trudeau government.
Fitch Ratings issues new warning over federal spending, debt
Downgraded Canada’s triple-A credit rating in June to AA+ over the deterioration of public finances due to COVID-19.
Federal finances remain vulnerable to fluctuating interest rates
An increase could lead the government into a downward cycle of increased deficits, and that means higher taxes.
Nova Scotia moves from surplus to $853M deficit due to pandemic
The province’s net debt has increased to $16.9 billion from $15.7 billion
Canada’s debt is piling up again from deficit spending
Our ability to deal with the economic effects of COVID-19 is really a fiscal dividend from the actions of earlier governments.
Economic shock from COVID-19 leading to higher indebtedness: Poloz
Can lead to slower growth, make it more difficult for the central bank to hit its 2% inflation target in the future.
Manitoba premier cites high debt load, uncertainty for workforce cuts
Has rejected demands from unions, opposition parties, pundits and some economists to maintain public-sector jobs.
No unilateral powers for feds to spend, borrow, tax during virus crisis
Government proposes sweeping new powers for up to 21 months act unilaterally without seeking Parliament’s approval.
Recurring federal deficits could be risky for future generations: study
Federal debt should reach $713 billion at the end of the current fiscal year and grow to $810 billion by 2024-2025.