Coronavirus: Canada's opposition parties react to fiscal and economic snapshot | HIGHLIGHTS
CA, 09 Jul 2020
Canada's opposition parties reacted on Wednesday to what the federal Liberal government has styled as a fiscal and economic snapshot in Ottawa on Wednesday.
The snapshot showed that Canada would see the deficit soar to $343 billion this year and debt reach $1.06 trillion, with officials warning the economy may never return to normal.
Conservative Leader Andrew Scheer and Shadow Minister for Finance Pierre Poilievre spoke about the outlook, saying it "painted an extremely dire" picture for Canada's finances but said Morneau gave no plan on how to help Canada, including how to stimulate growth. Poilievre also said that Morneau could "not bring himself to utter" the size of the debt or the country's deficit.
NDP Leader Jagmeet Singh said the "snapshot" gives the government an opportunity to make the wealthiest "bear the brunt" of the COVID-19 pandemic, and called on the Liberals to institute a wealth tax and end "giveaways" to the wealthiest.
Bloc Quebecois MP and Finance Critic Gabriel Ste-Marie said from their perspective, the government is spending a lot of money and should make web giants like Netflix and Facebook, who he said are seeing more usage due to the pandemic, "pay their fair share." He also said the government must adapt the pandemic measures, like the Canada Emergency Response Benefit, to the current economic needs, such as helping people who want to go back to work be able to do so.
Green Party parliamentary leader Elizabeth May also commented on the numbers, saying they are shocking but not a surprise given the pandemic. She said the pandemic is a wake up call that "the economy takes a back seat to nature," and that spending was necessary because health in the economy is "completely dependent on our health as human beings."
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The snapshot showed that Canada would see the deficit soar to $343 billion this year and debt reach $1.06 trillion, with officials warning the economy may never return to normal.
Conservative Leader Andrew Scheer and Shadow Minister for Finance Pierre Poilievre spoke about the outlook, saying it "painted an extremely dire" picture for Canada's finances but said Morneau gave no plan on how to help Canada, including how to stimulate growth. Poilievre also said that Morneau could "not bring himself to utter" the size of the debt or the country's deficit.
NDP Leader Jagmeet Singh said the "snapshot" gives the government an opportunity to make the wealthiest "bear the brunt" of the COVID-19 pandemic, and called on the Liberals to institute a wealth tax and end "giveaways" to the wealthiest.
Bloc Quebecois MP and Finance Critic Gabriel Ste-Marie said from their perspective, the government is spending a lot of money and should make web giants like Netflix and Facebook, who he said are seeing more usage due to the pandemic, "pay their fair share." He also said the government must adapt the pandemic measures, like the Canada Emergency Response Benefit, to the current economic needs, such as helping people who want to go back to work be able to do so.
Green Party parliamentary leader Elizabeth May also commented on the numbers, saying they are shocking but not a surprise given the pandemic. She said the pandemic is a wake up call that "the economy takes a back seat to nature," and that spending was necessary because health in the economy is "completely dependent on our health as human beings."
For more info, please go to
https://globalnews.ca/news/7153346/coronavirus-canada-fiscal-snapshot-2020/
Subscribe to Global News Channel HERE: http://bit.ly/20fcXDc
Like Global News on Facebook HERE: http://bit.ly/255GMJQ
Follow Global News on Twitter HERE: http://bit.ly/1Toz8mt
Follow Global News on Instagram HERE: https://bit.ly/2QZaZIB
#GlobalNews #COVID19 #cdnpoli #Coronavirus
