Canadians are worried about taxpayers’ huge bill for the pandemic response ― but don’t think now is the time to pull back.
High government debt levels in the years to come will hold Canada back, Fitch Ratings says.
But the government went into the COVID-19 crisis with considerably less debt than other wealthy nations.
But thanks to rock-bottom interest rates, taxpayers will only be on the hook for $1 billion a year
Our huge borrowing binge will still be way less, proportionally, than what the U.S. is about to do.
Spending more on infrastructure would boost Canada's economy, Poloz argues.
The proposed budget will increase government spending while having a deficit of $29.4 billion. It will direct billions of dollars to infrastructure spending, First Nations, and the middle class and lower income groups.
Canada's government once borrowed half of what it spent. We're nowhere near that today.
Capital gains taxes are the biggest problem, Toby Sanger says.
"The government has the flexibility to provide fiscal stimulus to a Canadian economy that badly needs it."