When Finance Minister Chrystia Freeland rolls out her fall budget update on Thursday, we’ll see a bit of “rapid reaction” help for low-income workers at risk of losing their jobs, some attention to students, a splash of spending for the housing sector, and a small down-payment on bigger climate measures to come.The Liberals’ standard approach to fiscal policy has been trying to be all things to all people, but that’s more challenging than ever right now.
If she tries to ease the effects of recession, she risks undermining the Bank of Canada’s moves to deliberately cause a slowdown. So we should expect a lot of words — but not much money — about the importance of mitigating and adapting to climate change, the need to bolster Canada’s standing in the world so we can spread the word of liberal democracy, and the need to all take care of our health.
But that current conundrum — inflation, high interest rates, on the brink of recession — requires more than words. She has had a close eye on British politics, where former prime minister Liz Truss lost the trust of markets and sent her country into a tailspin with a poorly designed mini-budget. Targeting that segment of the population with specific government support makes sense, says Jimmy Jean, chief economist at Desjardins Group.The sectors most vulnerable to pain in the upcoming recession will be those that are still fragile from the pandemic, he says. He points to accommodation, food and entertainment — those sectors that were open and shut so many times because of COVID-19 and risk being hit again because they rely on discretionary spending.
hscoffield The Red Star needs to go
hscoffield We're all screwed...royally
hscoffield Don't worry the people that stole cerb have the money in their secret offshore accounts.
hscoffield And where did those billions come from, expand there money tree orchid did they
hscoffield Every level of government seems to have tons of cash hanging around while Canadians struggle financially on a daily basis. I'm so strapped I've borrowed money from parents and maxxed out my credit card and line of credit. I haven't been this broke for 25 years. It's scary.
hscoffield Can we just give it back to the people they stole it from?
hscoffield You mean the excess tax the federal government collected that should be immediately returned to the overtaxed?
hscoffield Your propagandists act like this money is the federal Liberals’ play thing and what good causes could they spend it on. Meanwhile, the country doesn’t have enough housing, lacks decent transportation, doesn’t invest in science, etc.
hscoffield I bet MAiD to figure prominently
hscoffield Every step of the way they have made things worse, will this be any different?
hscoffield
hscoffield Dobt gve it to FORD THE SCUMBAG fordnation .. WE WANT TO KNOW WHY YOU MET WITH COMMIES THIS WEEK?
hscoffield