Home / News / COVID-19 economic recovery requires sustained spending, Freeland says

COVID-19 economic recovery requires sustained spending, Freeland says

Finance Minister Chrystia Freeland said the government can afford to continue spending on emergency support programs to help the Canadian economy through the ‘coronavirus recession,’ warning that ending them too early would imperil the eventual economic recovery.
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27 comments

  1. Avatar

    Chop Freeland up like the Saudi's do

  2. Avatar

    Aha goverments cant create jobs, they can stay out the way/ less regulations/ less tax which would increase oppurtunity. At least they said, " theres no free lunch" which is correct. People would be better off if they were more"anti-fragial"/ independent.

  3. Avatar

    she talks exactly like turdeau

  4. Avatar

    Literally every reputable economist affirms that this is true, which is why it's so unbelievably damaging that we allow right-wing conservative outlets to lie and pretend that our national budget is comparable to a family budget. We need to stop pretending that lying and disinformation is a right, and cleanse our media landscape of this blight that's so imperiled our democracy. There is no greater crime than to reliably mislead the public.

  5. Avatar

    When she says, “the government is going to take on the burden for Canadians” it’s like she actually believe that this money is coming from someone other than the Canadian taxpayers…

  6. Avatar

    Dont worry China is going to take over and put us inside to protect us against the common cold.

  7. Avatar

    DEMAND A BASIC INCOME NOW. IT COSTS LESS THAN THE STATUS QUO!

  8. Avatar

    Are politicians lowering their pay? If people are losing their businesses and jobs, including healthcare providers, are politicians helping out with some of their pay?

  9. Avatar

    Millions of people have no money to spend

  10. Avatar

    Sending hundreds of millions of Canadian taxpayer dollars to other countries counts as "spending" it appears.

  11. Avatar

    Since Covid-19 started a lot of small businesses have gone bankrupt and shutdown. What is not being reported in the media is that a lot of those said businesses are being bought up and out for cheap by corporations. What happens when corporations own most or all of the business?

  12. Avatar

    there’s one of the buzzwords “sustainability”/ World Economic Forum / The Great Reset
    Casedemic!

  13. Avatar
    Lawrence Veinotte

    30,000 plus dead from the governments covid measures, by next August those corpses are going to be pretty ripe for the liberals.

  14. Avatar

    That like/dislike bar is the most honest thing about this video 😂

  15. Avatar

    The government is the worst run business. But they don't care, the more they spend, the more they'll take from us.

  16. Avatar

    Well we have the right government in charge, SPEND, SPEND, SPEND and TAX, TAX, TAX and give money to every sob story around the world.
    Help Canadians and only Canadians, if you want to send money to the worlds losers then they should set up a fund that is financed by people who want there money spent that way and leave the rest of us alone.

  17. Avatar

    Tell us more, gender hire!

  18. Avatar

    We are living in George Orwell's 1984. Didn't realize I'd one day be saying this when I moved here 20 years back.

  19. Avatar

    Btw, want to find somewhere where basically everyone is overpaid for the actual work they do? Look at every levels of government officials, including clerks.

  20. Avatar

    stop the insanity, let the people live their lives. stop destroying the economy. this is a sham, as nothing to do with a virus, it's political. sheep, please WAKE UP!!!

  21. Avatar

    Build our 3 Pipelines if you want to do something useful. Green Farts is not work.

  22. Avatar
    Spherical Thought

    I know this is crazy and all, but how about letting people get back to work. I also like the idea of the government taking a cut. I mean, I bet they still collected pay during all the lock downs. You didn't here any of them complain about not having to work!

  23. Avatar

    CBC CANADIANS CORRUPT NEWS SOURCE

  24. Avatar

    We need to do a Sweden.

  25. Avatar

    Let's hope they dont spend our pension money again…

  26. Avatar

    Peter Armstrong’s take on the Bank of Canada’s Monetary Policy Report was just brutal. “They’re talking about inflation coming back under control and thus interest rates staying where they are in [he meant “until”] 2023, so that’s a long time.” In fact, inflation is completely under control. The annual inflation rate was 0.5% in September, just high enough to erase any doubts that the “true” rate of inflation is negative. (At the time of the 2016 renewal agreement, the Bank of Canada declared that the “true” rate of inflation was 0.3% lower than the actual rate, down from 0.5% as measured in 2012, but since, opaque as usual, it never published the study on which this conclusion was based, it seems to be having second thoughts about it. Governor Macklem said very clearly: “[W]e will continue to hold the policy interest rate at the effective lower bound until economic slack is absorbed so that the 2 percent inflation target is sustainably achieved. In our current projection, this takes us into 2023.” The “sustainably” adverb is a little ominous, given the Bank of Canada seems to be flirting with average inflation targeting, so that he may want to follow the three years of inflation substantially below 2% from 2020 to 2023 with three or more years of inflation substantially above 2% to compensate. But obviously that doesn’t concern Armstrong.

    David Cochrane said that the effective lower bound as defined by the Bank of Canada means rock-bottom interest rates, but the overnight rate now is only at 0.25%; it could go at least as low as 0.10%, which is where monetary economists Angelo Melino would like to see it. If, as Governor Macklem reconfirmed at Wednesday’s press conference, negative interest rates are part of the Bank of Canada toolkit, it could go negative.

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