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Canada’s spending and deficits higher than comparable countries during pandemic

Canada’s unemployment higher, recession deeper than other industrialized countries, despite comparatively high spending and borrowing


Canada’s unemployment higher, recession deeper than other industrialized countries, despite comparatively high spending and borrowingVancouver—Federal and provincial governments across Canada have spent and borrowed more than many other industrialized high-income countries around the world during the COVID crisis, but Canada’s economic performance lags those other countries, finds a new analysis released today by the Fraser Institute, an independent, non-partisan Canadian public policy think-tank. “What is becoming clear is that the record-high spending that we’ve seen in Ottawa and around the country both before and as a result of the COVID crisis is not translating into better economic performance, and could in fact be a drag on our recovery,” said Jason Clemens, Executive Vice President at the Fraser Institute and co-author of a new blog Canada’s spending and deficits higher than comparable countries during pandemic.
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