By Canadian Press

Liberals face pressure for concrete ideas, economic plan in spending update

Nov 27, 2020 | 9:05 AM

OTTAWA — The federal Liberals are being warned that they need to provide a detailed plan on navigating the health and economic fallout from the COVID-19 pandemic in a key spending document next week.

Business and labour groups say the government must outline concrete proposals to manage COVID-19 in the short term, but also outline more long-term steps for recovery.

Finance Minister Chrystia Freeland is to table the fall economic statement on Monday, giving a full accounting of pandemic spending so far and possibly laying out new programs and plans.

The update will also provide a view of the depth of this year’s deficit, which in July was forecast at a historic $343.2 billion.

A report this morning from RBC forecasts the update will show a deficit of close to $370 billion, plus economic stimulus plans that take next year’s deficit to at least $90 billion.

Meaningful Mementos

Remembering Someone You've Lost at Christmas

Dec 03, 2024

Seasonal Sorrow

How Do You Get Through The Holidays When You're Grieving?

Nov 01, 2024

Upcoming Events at Oliver's

Grief & Loss and Estate Planning Seminars

Oct 02, 2024

Should the Liberals make some aid permanent, the cost to finance it could lead to tax increases that a report from the C.D. Howe Institute today suggests could include a two-point increase in the GST.

This report by The Canadian Press was first published Nov. 27, 2020.

The Canadian Press