It is “the largest economic relief package for our country since the Second World War”, Finance Minister Chrystia Freeland said on Monday.
The spending will bring the deficit to a historic C$381.6bn by March 2021.
The wide-ranging plan includes targeted relief for hard-hit business sectors, investments in long-term care homes and distribution of a Covid-19 vaccine.
The announcement – the first full fiscal update from Canada’s Liberal government since the onset of the pandemic – comes as the country battles a steep second wave of Covid-19 infections. The number of active cases in Canada has more than doubled in November alone, bringing the total number of infections to more than 376,000 – according to a tally from Johns Hopkins University. So far, more than 12,000 Canadians have died. Read more…..
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NYU Stern Professor of Marketing Scott Galloway discusses his book, ‘Post Corona: From Crisis to Opportunity,’ which looks at the negative impact of the coronavirus pandemic, capitalism and the wealth gap in America, Big Tech getting stronger, and the lasting impact of COVID-19.