The federal government “probably” overspent on its COVID-19 stimulus payment programs, says former Liberal finance minister Bill Morneau, who also expressed concern about the possibility of a recession hitting Canada this year.
“For this government to be more effective … in managing the economy, it’s about engaging with the provinces to make sure that we create those opportunities across the country,” Morneau said on an episode of CTV News’ “Question Period,” the full version of which has not yet aired.
Referring to federal COVID subsidies, Morneau said, “Was there too much? Probably.”
“But getting it exactly right, that’s tough. So I think now that we have the benefit of seeing what transpired, I think we need to be very cautious given that we know that the economic environment that we’re facing is challenging.”…