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Opinion

A green and just recovery would benefit all Canadians

By Kyla Tienhaara and Ronald Labonté      

Canada, with its own sovereign currency, can create billions in new money simply by selling bonds to its central bank, something the government has been doing at the rate of $5-billion/week since March. As long as inflation remains low there is little risk in the government continuing to do so. If there ever was a time to take that slight risk and to spend big, it is now.

Canada's federal Environment Minister Jonathan Wilkinson, pictured. Mega-investing in green technologies is imperative and will bring employment opportunities, although it is not a panacea in economic or environmental terms. Particular attention must be paid to the equity dimension of a green industrial strategy, write Kyla Tienhaara and Ronald Labonté. The Hill Times photograph by Andrew Meade

Earlier this month, Prime Minister JustinTrudeau indicated that he would unveil an ambitious green spending plan in the Speech from the Throne on Sept. 23. But by mid-month, the Liberals had started backtracking on this messaging. A $100-billion proposal was reportedly shelved out of concern that the government might be viewed as “hijacking” or “taking advantage” of the pandemic to pursue an “agenda.” This is terribly short-sighted.

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