Tuesday, 20 Apr 2021 07:32 AM MYT
It also follows through on stimulus promised late last year, outlining a C$101.4 billion “growth plan” over three years, with nearly half of that spending coming in the first year. Opposition lawmakers were unimpressed with the budget. But the leader of the left-leaning New Democratic Party said he was not prepared to bring down the government over it. “It is clearly irresponsible to have an election or in any way to trigger an election while we are in the midst of this third wave,” Jagmeet Singh told reporters. “The impact on people would be devastating and we are not going to do that.
“There's a lot of spending in a lot of programs. But the effects of all of those combined together for me is just a bit unsure,” said Robert Asselin, senior vice president of policy at the Business Council of Canada. Of the nearly C$50 billion in new spending this year, C$27 billion is set aside to extend pandemic recovery measures like wage and rent subsidies for businesses and for a new program to help transition companies back to hiring.
The official also said that the government had run stress tests on the accumulating debt and was confident of its abilities to service that debt even as interest rates rise in the future.
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