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.
Now is the time to invest in Canadians, the government says.
The federal deficit hit $12.7 billion first eight months of 2016, from a $1-billion surplus a year earlier.
But the former parliamentary budget officer said it was "exciting."
Spending more on infrastructure would boost Canada's economy, Poloz argues.
Spring budget had projected the deficit to be $5.4-billion.