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Opinion

COVID-19: economic impacts and prospects

By Kevin Page      

There are some potential game changers for outcomes—a vaccine; and a resurgence in international leadership and cooperation. Closer to home, we need a Canadian economic recovery plan that will boost confidence in the future with strategic and measured investments in long-term challenges and adjustment support for Canadians and businesses left behind by the coronavirus.

Finance Minister Chrystia Freeland, pictured Sept. 14, 2020, arriving for last week's cabinet retreat in Ottawa before Parliament resumes on Sept. 23. Economic and fiscal plans must be tied to economic scenarios with unmeasurable probabilities. Finance ministers around the world will be under pressure to change the way they prepare budgets, writes Kevin Page. The Hill Times photograph by Andrew Meade

The year 2020 will be etched into history books forever as the year of the global coronavirus pandemic. In fewer than nine months, notwithstanding enormous containment efforts, this virus has infected almost 26 million people across more than 200 countries and territories and caused 860,000 deaths. In Canada, we have seen 130,000 cases and more than 9,000 deaths.

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