“Adding that tool to the fiscal tool kit is the sort of thing that can make the fiscal delivery more automatically sensitive to the economic cycle.”
OTTAWA — Canada’s top central banker says adding an income-support measure like the Canada Emergency Response Benefit to the government’s tool kit could help the country more quickly respond to sudden shifts in the economy.
The idea of a basic income means different things to different people, but is at its core a no-strings-attached payment governments provide instead of a variety of targeted benefits. He added it would be a long-range project, but would eliminate the need to pass special legislation or quickly devise new programs.
Poloz said Thursday we are in an era of low interest rates due to “demographic reasons and economic growth reasons,” although he did not know how low.
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