Although polls show the majority of Canadians are concerned about the federal debt and deficit, the issue may take a back seat during the election as blowback from the ballooning debt hasn’t had a major impact yet, say veteran political and economic analysts. The Trudeau government has borrowed substantially to respond to the pandemic, causing a $354 billion deficit in 2020-21, with this year’s deficit expected to be $154.7 billion. Nearly three-quarters of Canadians (74 percent) say they are concerned about the size of the current deficit, according to a Nanos poll conducted in May. University of Calgary political science professor emeritus Tom Flanagan says the spending party will continue until election day, leaving the hangover to some future time. “They just sent out the announcement that they’re giving all the seniors $500 in [Old Age Security],” Flanagan said in an interview. “CRB runs out in September, so I’m sure …
Election Call Comes Before Fallout From Record Deficits and Debt Hits: Analysts
August 16, 2021
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