We recently asked our research staff and senior fellows for their thoughts on how Canada’s experience with COVID-19 and the related recession might permanently—at least the next five years—affect Canadians and our economy. In total, we received 19 submissions. Find below the final submissions as selected by our team (after adjusting for duplicates in certain areas such as trade and savings).
For now, the new wage subsidy program will cost $71 billion.
In response to the COVID crisis, Parliament granted sweeping powers to the finance minister.
Once you adjust for inflation and population growth, Alberta’s economy barely grew at all between 2008 and 2018.
Default risk and exchange-rate risk increase for foreign lenders as they increase their holdings of any government’s debt.
Provincial government debt-service costs are set to reach $13.2 billion this year.
High regulatory and severance costs alongside legislative uncertainty will exacerbate an already bad situation.
Effectively, the CERB will now cost $40 billion, up from $15 billion.
Letting the price of scarce goods rise forces us to use the limited supply of the good for the most important purposes.
When we learned that the first cases in Canada were from overseas flights, no measures were taken to screen passengers from infected areas.