While Canada is not yet in recovery, now is the time to define the priorities for the next phase. To prevent drastic economic collapse the government established sweeping emergency benefit packages at substantial cost to the nation. The Parliamentary Budget Office suggests that it is not unthinkable for the federal debt to reach $1-trillion this year, possibly bankrupting a generation. In Canada’s recovery, tough conversations will need to be had on reigning in government spending. If the past is indicative of the future, then it is likely defence spending will be the first casualty. But in the post-COVID world, that would be exactly the wrong approach.
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