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‘Is it even big enough?’: Morneau shells out unprecedented billions, economists applaud move as COVID-19 crisis deepens

By Peter Mazereeuw and Mike Lapointe      

'The ability to carry debt, and keep those carrying costs of debt down low, is a game-changer in terms of how we manage the deficit,' says former parliamentary budget officer Kevin Page.

Finance Minister Bill Morneau, pictured briefing the press in Ottawa on March 18, 2020. Mr. Morneau has already announced more than $100-billion in new spending as the government seeks to contain the economic damage from the spreading novel coronavirus. The Hill Times photograph by Andrew Meade

Finance Minister Bill Morneau says he is spending an unprecedented amount of borrowed money to prop up Canada’s economy as the spreading novel coronavirus has kept Canadians in their homes, out of stores, and more than two million out of work, and economists, a former parliamentary budget officer, and a former deputy prime minister say the spending is needed.

Peter Mazereeuw

Peter Mazereeuw is a deputy editor for The Hill Times covering politics, legislation, and the Senate.
- peter@hilltimes.com


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