We can’t afford to miss it because this window of opportunity won’t be open for long
Business investment fell 16.2 per cent, which Statistics Canada says is a result of plant closures, low oil prices and heightened economic uncertainty. Employee compensation fell by 8.9 per cent, the steepest drop ever recorded, as workers were laid off, furloughed, or had their hours slashed.
The Trudeau government seems poised to continue its spending binge, after the prime minister suggested his government would return to Parliament in September with “ambitious” spending plans that are expected to significantly expand the social safety net.
“This is our moment to change the future for the better,” Trudeau told reporters last week. “We can’t afford to miss it because this window of opportunity won’t be open for long.”
The Liberal government is expected to post a $343 billion deficit in 2021, not including another $37 billion in spending announced last week, which will introduce three new benefits programs for workers, and relax employment insurance rules to allow more Canadians to apply for financial aid.
With files from Canadian Press
Source: – National Post
