Global News: Ottawa’s coronavirus deficit will take ‘many, many years’ to pay down: economist


The massive federal deficit created by the unprecedented coronavirus emergency response could take more than 10 years to get under control, one economist suggests.

In an interview with The West Block guest host Robin Gill, the B.C. Business Council’s chief economist, Ken Peacock, speculated that while some economic activity might normalize more quickly, the $260-billion federal deficit forecast by the parliamentary budget watchdog will not be under control for some time.

“That is going to take many, many years. It might be upwards of a decade before they get the deficit eliminated and start paying down the debt,” said Peacock.

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