Canada's giant deficit may have been needed, but the hard part will be digging our way out of it

Kevin Carmichael: \u0027In the coming months, the Liberal government will have to pull off its biggest challenge yet,\u0027 says one economist

“In the coming months, the Liberal government will have to pull off its biggest challenge yet,” Bank of Nova Scotia economists Rebekah Young and Marc Desormeaux said in a report. “It will need to resist pressures from the right to consolidate prematurely in a manner that could throw into jeopardy Canada’s fragile recovery, while pushing back against pressures to ramp up indefinitely social spending on borrowed credit.

“I am a little bit cynical about the ability of Canada to rally around a vision that would lift growth potential substantially,” Young said in an email. The jobless rate dropped to 12.3 per cent from 13.7 per cent the previous month, while total hours worked increased, a positive signal that the recovery is gaining momentum.Article content continued

“The jobs numbers for June join a growing number of economic indicators that have been less bad than feared early in the economic recovery,” said Nathan Janzen, an economist at Royal Bank.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

nationalpost /  🏆 10. in CA

Canada Latest News, Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Border Agency Has Lost Track Of Thousands Of People Ordered Out Of Canada'The government will do a better job of ensuring the integrity of the system,' Trudeau said.
Read more »

What To Do If You Spot A Rogue American Tourist In CanadaRemember, not every American license plate is a rule-breaker. 🇨🇦🇺🇸
Read more »

Telefilm Canada investigating allegations of misconduct against employeeA statement from Telefilm does not name the employee, citing privacy concerns, but the investigation comes after allegations surfaced on social media about the conduct of Telefilm feature-film executive Dan Lyon
Read more »

Canada unprepared for second wave of COVID-19, Senate committee saysThe Senate's social-affairs committee says Ottawa needs to pay urgent attention to the country's long-term care homes ahead of a potential resurgence of the coronavirus
Read more »

CMHC reports annual pace of housing starts in Canada increased in JuneCanada Mortgage and Housing Corp. says the annual pace of housing starts rose in June as starts of multi-family projects rose, offsetting a decline in single-detached homes.
Read more »