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Canada’s deficit ‘manageable’ without tax increase if COVID-19 measures temporary: PBO – Globalnews.ca

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Canada’s budgetary deficit could be “manageable” without a dramatic increase in taxes, the country’s Parliamentary Budget Officer says.

Yves Giroux made the comments on The Roy Green Show on Saturday.

“My sense is that it’s possible to deal with the deep deficit that the government will be incurring in the current fiscal year, but as long as it’s for one year,” he said.

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“So it’s affordable without necessarily having to increase taxes if all the programs that have been set up and all the big exceptional expenditures are indeed temporary.”

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Budget watchdog flags $12B projected loss at federal crown corporations amid coronavirus

Last month the federal government released an “economic snapshot” which said the flood of spending in response to the COVID-19 pandemic would see the country’s deficit increase to $343 billion this year.






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Canada’s economic “snapshot” – Parliamentary Budget Officer weighs in


Canada’s economic “snapshot” – Parliamentary Budget Officer weighs in

The federal government has spent billions on a number of programs including the Canada Emergency Response Benefit (CERB) and the Canada Emergency Wage Subsidy (CEWS) to assist Canadians who lost their jobs or were laid-off as a result of the pandemic.

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Coronavirus: CERB extension to cost $17.9B, budget officer says

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But Giroux said if the programs are extended, or if Canada sees another year with a “big, big deficit” it would be “much more problematic.”

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“We would probably need to do something as a country to restore something that’s more fiscally sustainable over the long term, which means cutting expenditures or raising taxes or a combination of both,” he said.






1:56
What’s missing from the feds’ fiscal update?


What’s missing from the feds’ fiscal update?

What’s more, Giroux said if Canada were to see a second wave of the virus, the deficit would be less manageable.

In the 168-page fiscal snapshot, Finance Minister Bill Morneau did not indicate how or when the federal government planned to rein in the spending, but he insisted that the country remains well-positioned to handle the weight of that deficit because of historically low interest rates.

Canada’s overall debt, on the other hand, is projected to hit $1.2 trillion in 2020-2021, according to the fiscal snapshot.

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Where will Canada’s coronavirus economy go next? Here are 3 possible scenarios

Giroux said while the fiscal snapshot provided insight into how much money the government has spent and intends to spend this fiscal year, it doesn’t indicate what the government plans to do next.

Do they plan on stimulating the economy or do they plan on returning to more normal days government-wise, meaning a more normal level of deficit or even balanced budgets?” Giroux said. “So the government has given absolutely no indication as to its plans going forward.”

He said that’s why a real federal budget is so important.

Usually budgets usually have a five-year horizon,” he said. “And right now, the government’s horizon ends in March 2021, so we don’t know.






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Canada’s fiscal snapshot: One-on-one with Finance Minister Bill Morneau


Canada’s fiscal snapshot: One-on-one with Finance Minister Bill Morneau

However, the federal government has maintained that due to the unprecedented and unpredictable nature of the pandemic, releasing a full budget would not be possible.

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Giroux said that means as of right now there is “absolutely no indication whatsoever” of what the government plans to do come April 1.

“A big deficit again or something that’s more reasonable? Finances back on track? We just don’t know,” he said.”

— With files from Global News’ Amanda Connolly and Beatrice Britneff

© 2020 Global News, a division of Corus Entertainment Inc.

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Jacob Trouba says ‘there’s no animosity’ toward Rangers following trade rumors

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GREENBURGH, N.Y. (AP) — New York Rangers defenseman Jacob Trouba said Thursday “there’s no animosity” toward the organization following an offseason in which his name was prominently mentioned in trade rumors.

“It’s part of the business of hockey,” Trouba said following the first day of training camp for the reigning Presidents’ Trophy-winning Rangers.

According to reports, Rangers president and general manager Chris Drury had negotiated a trade that would send New York’s captain to Detroit in late June. The trade fell apart, however, when Trouba submitted his 15-team no-trade list to the Rangers on June 30 and included the Red Wings on it.

“Obviously, had the no-move that turned into the partial no-trade,” said Trouba, whom New York acquired in a trade with Winnipeg in June 2019 and signed to a seven-year, $56 million contract one month later. “That’s life, contracts, hockey business, whatever you want to call it.

“I knew that was coming that summer. It’s not by surprise. It was obviously something that was negotiated at the time.”

The 30-year-old’s insistence that his relationship with Drury is fine echoes what the executive said in a pre-training camp conference call with reporters.

“Jacob and I talk all the time as GM and captain should,” Drury said. “We’ve had a number of different conversations over the course of the summer on a lot of different things. He is very clear as to where he stands with me and what I think of him as a player and as a leader.”

Still, Trouba realizes that the 2024-25 season is likely the last for the current iteration of the Original Six franchise. The Rangers have qualified for the Stanley Cup Playoffs in each of the last three seasons, and have reached the Eastern Conference Finals in 2022 and 2024. Following last spring’s six-game series loss to the eventual Stanley Cup champion Florida Panthers, Drury wondered aloud in a conference call with reporters if the Rangers’ core players could lead the franchise to a Stanley Cup.

“(It’s) an opportunity that we have in front of us that in all likelihood will probably be the last crack for this core,” Trouba said. “I don’t think that’s a secret by any means. (A) group that’s kind of grown together, spent some years together here, and there’s something we want to accomplish.”

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Veterans Tyson Beukeboom, Karen Paquin lead Canada’s team at WXV rugby tournament

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Veterans Tyson Beukeboom and Karen Paquin will lead Canada at the WXV 1 women’s rugby tournament starting later this month in the Vancouver area.

WXV 1 includes the top three teams from the Women’s Six Nations (England, France and Ireland) and the top three teams from the Pacific Four Series (Canada, New Zealand, and the United States).

Third-ranked Canada faces No. 4 France, No. 7 Ireland and No. 1 England in the elite division of the three-tiered WXV tournament that runs Sept. 29 to Oct. 12 in Vancouver and Langley, B.C. No. 2 New Zealand and the eighth-ranked U.S. make up the six-team WVX 1 field.

“Our preparation time was short but efficient. This will be a strong team,” Canada coach Kevin Rouet said in a statement. “All the players have worked very hard for the last couple of weeks to prepare for WXV and we are excited for these next three matches and for the chance to play on home soil here in Vancouver against the best rugby teams in the world.

“France, Ireland and England will each challenge us in different ways but it’s another opportunity to test ourselves and another step in our journey to the Rugby World Cup next year.”

Beukeboom serves as captain in the injury absence of Sophie de Goede. The 33-year-old from Uxbridge, Ont., earned her Canadian-record 68th international cap in Canada’s first-ever victory over New Zealand in May at the Pacific Four Series.

Twenty three of the 30 Canadian players selected for WXV 1 were part of that Pacific Four Series squad.

Rouet’s roster includes the uncapped Asia Hogan-Rochester, Caroline Crossley and Rori Wood.

Hogan-Rochester and Crossley were part of the Canadian team that won rugby sevens silver at the Paris Olympics, along with WXV teammates Fancy Bermudez, Olivia Apps, Alysha Corrigan and Taylor Perry. Wood is a veteran of five seasons at UBC.

The 37-year-old Paquin, who has 38 caps for Canada including the 2014 Rugby World Cup, returns to the team for the first time since the 2021 World Cup.

Canada opens the tournament Sept. 29 against France at B.C. Place Stadium in Vancouver before facing Ireland on Oct. 5 at Willoughby Stadium at Langley Events Centre, and England on Oct. 12 at B.C. Place.

The second-tier WXV 2 and third-tier WXV 3 are slated to run Sept. 27 to Oct. 12, in South Africa and Dubai, respectively.

WXV 2 features Australia, Italy, Japan, Scotland, South Africa and Wales while WXV 3 is made up of Fiji, Hong Kong, Madagascar, the Netherlands, Samoa and Spain.

The tournament has 2025 World Cup qualification implications, although Canada, New Zealand and France, like host England, had already qualified by reaching the semifinals of the last tournament.

Ireland, South Africa, the U.S., Japan, Fiji and Brazil have also booked their ticket, with the final six berths going to the highest-finishing WXV teams who have not yet qualified through regional tournaments.

Canada’s Women’s Rugby Team WXV 1 Squad

Forwards

Alexandria Ellis, Ottawa, Stade Français Paris (France); Brittany Kassil, Guelph, Ont., Guelph Goats; Caroline Crossley, Victoria, Castaway Wanderers; Courtney Holtkamp, Rimbey, Alta., Red Deer Titans Rugby; DaLeaka Menin, Vulcan, Alta., Exeter Chiefs (England); Emily Tuttosi, Souris, Man., Exeter Chiefs (England); Fabiola Forteza, Quebec City, Stade Bordelais (France); Gabrielle Senft, Regina, Saracens (England); Gillian Boag, Calgary, Gloucester-Hartpury (England); Julia Omokhuale, Calgary, Leicester Tigers (England); Karen Paquin, Quebec City, Club de rugby de Quebec; Laetitia Royer, Loretteville, Que., ASM Romagnat (France); McKinley Hunt, King City, Ont., Saracens (England); Pamphinette Buisa, Gatineau, Que., Ottawa Irish; Rori Wood, Sooke, B.C., College Rifles RFC; Sara Cline, Edmonton, Leprechaun Tigers; Tyson Beukeboom, Uxbridge, Ont., Ealing Trailfinders (England);

Backs

Alexandra Tessier, Sainte-Clotilde-de-Horton, Que., Exeter Chiefs (England); Alysha Corrigan, Charlottetown, P.E.I., CRFC; Asia Hogan-Rochester, Toronto, Toronto Nomads; Claire Gallagher, Caledon, Ont., Leicester Tigers (England); Fancy Bermudez, Edmonton, Saracens (England); Julia Schell, Uxbridge, Ont., Ealing Trailfinders (England); Justine Pelletier, Rivière-du-Loup, Que, Stade Bordelais (France); Mahalia Robinson, Fulford, Que., Town of Mount Royal RFC; Olivia Apps, Lindsay, Ont., Lindsay RFC; Paige Farries, Red Deer, Alta., Saracens (England); Sara Kaljuvee, Ajax, Ont., Westshore RFC; Shoshanah Seumanutafa, White Rock, B.C., Counties Manukau (New Zealand); Taylor Perry, Oakville, Ont., Exeter Chiefs (England).

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This report by The Canadian Press was first published Sept. 18, 2024.



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Vancouver Canucks star goalie Thatcher Demko working through rare muscle injury

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PENTICTON, B.C. – Vancouver Canucks goalie Thatcher Demko says he’s been working his way back from a rare lower-body muscle injury since being sidelined in last season’s playoffs.

The 28-year-old all star says the rehabilitation process has been frustrating, but he has made good progress in recent weeks and is confident he’ll be able to return to playing.

He says he and his medical team have spent the last few months talking to specialists around the world, and have not found a single other hockey player who has dealt with the same injury.

Demko missed several weeks of the last season with a knee ailment and played just one game in Vancouver’s playoff run last spring before going down with the current injury.

He was not on the ice with his teammates as the Canucks started training camp in Penticton, B.C., on Thursday, but skated on his own before the sessions began.

Demko posted a 35-14-2 record with a .918 percentage, a 2.45 goals-against average and five shutouts for Vancouver last season.

This report by The Canadian Press was first published Sept. 19, 2024.

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