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.
Can green investment help relaunch Germany’s economy?
Public pressure grows to address big issues such as global warming.
Increasing government debt rarely a successful strategy
Spending our way to a heightened state of environmental stewardship could cause more harm than good.
Ontario writes off $445M in old Chrysler debt from bailout
Ottawa wrote off $2.6 billion last year that it wouldn’t collect from the automaker.
Budget deficits can increase social inequality
Burden falls on the whole population, and low-income Canadians can least afford to contribute.
Federal spending dangerously near record Canadian levels
Increasing the size and role of government comes with larger deficits, mounting debt and/or tax increases.
Canada’s robust credit rating should calm fears about federal deficits: Trudeau
One expert says credit ratings can be misleading.
Ottawa to run bigger than expected deficits over coming years
Feds are on pace to post a $19.4-billion deficit in 2018-19, $1.3 billion higher than the projection in last February’s budget.
Businesses question CAQ plan to cut immigration amid Quebec labour shortage
The target number would mean a 24% drop from the roughly 52,400 immigrants Quebec accepted last year.
Net worth rising but higher debt stings Canadian consumers: analysis
Household debt has been identified as key vulnerability.
Fewer living paycheque to paycheque but more overwhelmed by debt: survey
Canadian Payroll Association survey has mixed findings.
Ouch again! FAO says Ontario deficit to jump almost $12B this year
Spending plan will add about $70 billion to the net debt, increasing it to almost $400 billion in 2020-21.
Trudeau government to post deficits $8B bigger than expected next two years
Liberals will post a $22.1-billion shortfall this fiscal year, $4 billion more than $18.1 billion projection.
Scotiabank CEO downplays concerns raised over Canadian debt levels
Porter says IMF should look at the “other side of the balance sheet” which has kept pace or outgrown the size of the debt.
Canadian household debt hits $1.8T as report warns of domestic risk
Average amount of personal debt increased 3.3% to $22,837 per person, not including mortgages.
Alberta’s debt danger: escalating deficits and a race to the bottom
The gap is narrowing as net per-person debt converges with Ontario’s.
Heading down the debt path again
The federal government’s planned $30-billion budget deficit, to be…