News Analysis
As Canadians struggle with record gas prices and rising food costs, the Liberal government is under pressure from the Conservatives and NDP to ease the cost-of-living crisis. But analysts say neither of those parties’ proposals nor the government’s actions are anything other than stop-gap measures, which don’t deal with the underlying problems. They add that government belt-tightening would help the Bank of Canada get red-hot inflation under control.
Philip Cross, former chief economic analyst at Statistics Canada and Munk senior fellow at the Macdonald-Laurier Institute, says proposals from the Opposition Conservatives and the NDP may be popular but won’t remedy the broader inflation problem and can actually make it worse….