Canada’s macroeconomy continues to grapple with the effects of the COVID-19 pandemic and resulting restrictions on normal work and economic activity. Data confirm we are well into the worst downturn since the Great Depression of the 1930s, and the impacts on a wide range of indicators (including employment, incomes, consumer confidence, business investment, and government revenues) have yet to be fully felt.
To discuss the economic outlook, and the government policies that will be required to respond to it, Centre for Future Work Director Jim Stanford recently joined a webinar hosted by the Pearson Centre, a progressive think tank based in Ottawa. He advanced a range of far-reaching measures, including: Bank of Canada support for municipal budgets, a moratorium on bankruptcy proceedings and creditor actions against firms struggling to stay in business, and a multi-faceted ‘reconstruction plan’ led by government to rebuild the economy in the coming years.
Here is his full conversation with Andrew Cordozo, director of the Pearson Centre: