Heather Scoffield: Federal budget’s tricky navigation between looming recession and a green future
As she put together herand the Trudeau Liberals’ seventh, it wasn’t just the now-usual pandemic spillover, inflation and the global strife that were on her mind.
In other words, we have stalled — stymied by a global economy that is not working well, ongoing inflation, and a sharp spike in interest rates that has started to bite borrowers hard.And for sure, there’s a lot of spending in this budget — about $43 billion over six years, on par with the largesse we’ve come to expect from the Trudeau government, especially Freeland.
That’s partly because a stimulus program right now risks exacerbating the very inflation that both Freeland and the Bank of Canada are working to stifle. And it’s partly because there’s a conviction that the job market is resilient and won’t get hurt much in a downturn.
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