Budget 2024

Tax and spend fiscal plan will inhibit growth

Robert Asselin believes there are several big expenses on the horizon that could strain public finances in the coming years without a big bump in economic growth. He lays out the positives and negatives of the fiscal and economic update in a story by the Canadian Press.

“I give a lot of credit for the government overall on COVID. I think they’ve provided the support that was needed both on businesses’ side and on the income-support side.  But they have also spent a lot of money on structural spending that is not COVID-related, and that will be hard to sustain over time without huge growth coming in.”