OTTAWA-The federal government will announce a spending plan this afternoon to manage the rest of the COVID-19 crisis and draw an economic course in Canada after the pandemic.
The Liberal Party’s first two-year budget is expected to outline the government’s plans for the country’s childcare system, including what strings will be attached to spending.
As the Liberal Party aims to pave the way for climate change promises, measures to increase affordable housing and money supplies aimed at greening the economy are also expected.
Meanwhile, Treasury Minister Chrystia Freeland is being asked by the state to pay more for medical care to control ongoing pandemics and future costs. Meanwhile, hit companies, charities and workers are calling for a pledge to continue to flow aid beyond the summer when many programs take place. It will be finished.
The budget also has a political component, as the government needs to find at least one other major party to support the document in a vote of confidence in the House of Commons.
Without a parliamentary dance partner, the government would collapse and the country would enter a federal campaign.
Elliott Hughes, a former adviser to the last liberal finance minister to budget, said the budget should balance Canadians’ current concerns about pandemics with long-term economic needs.
The document is also likely to outline Trudeau’s vision for the country, which the opposition will give voters today the opportunity to present their own ideas, he added.
“People reflect, look and think.’What government approach is best for me to get out of the pandemic, and frankly, who do you want to lead?'” Hughes said. , Currently using Summa Strategies.
The deadly virus created financial constraints that in turn forced the closure of non-essential businesses, schools and day care, causing a historic slip in employment.
There was a similarly historic stream of federal aid to support the financial base of businesses and households, today’s budget detailed last year’s deficit, estimated at $ 380 billion.
The economy as a whole was better than previously expected, but there are still pockets of blows in the country as sectors that rely heavily on face-to-face interactions such as restaurants and tourism expect a long-term recovery.
The Liberal Party’s backed fiscal guardrail (debt-to-GDP ratio) to keep spending off track is in itself confused. Josh Nai, senior economist at RBC, said the government should try to outline plans to stabilize this number and ultimately reduce it.
“It will take a very long time to return to the pre-pandemic level,” he said. “I think it’s something investors and rating agencies want to see to make sure things are going in the right direction.”