Ottawa is likely to wind up supersizing its financial stimulus. But it must find ways to do so that avoid waste and abuse. And it must move fast, because a huge swath of Canada’s service economy is struggling with a sudden stop to sales as a result of lockdowns.
Virus-containment measures are “going to have devastating consequences for many companies and many will not come back without immediate help,” says Greg D’Avignon, president of the Business Council of British Columbia. “The key issue is speed.”
He recommends immediate rollbacks to taxes, including carbon-related levies, as well as extending the deferral of tax payments even further into the future.