Blazingcatfur

The Liberal government is preparing to spend up to $100 billion to kick start the post-pandemic economy as it stares down a record-high deficit projection of more than $381 billion for this fiscal year.

In a long-awaited economic statement, tabled today, Finance Minister Chrystia Freeland said the government’s immediate priority is to do “whatever it takes” to help Canadians and businesses stay safe and solvent.

The short-term stimulus package is valued at $70 billion to $100 billion over roughly three years. The government says the stimulus spending — intended to build a greener, more inclusive, more innovative and competitive economy — will launch after a vaccine is distributed and life begins to return to normal.

More from CTV… Federal deficit on track to exceed $381B, as spending increases in wake of second COVID-19 wave

OTTAWA — The federal government is unveiling a new round of financial supports to respond to the second wave of the COVID-19 pandemic in Canada, as the latest projections show the national deficit is projected to hit a new high: at least $381.6 billion this fiscal year.

The deficit is growing for several reasons: ongoing pandemic supports, $25.1 billion in newly-announced programs aimed at getting badly-hit businesses through the next few months, as well as the early allocations being made to help rebuild the economy once the urgent health crisis passes. The Liberals are also making moves towards boosting transfer payments to the provinces.

Many Liberals will benefit.

But… Opposition parties signal they will not support the Liberals’ spending plans. Is an election next?

OTTAWA—The federal Opposition parties greeted the long-awaited economic update with a big collective thumbs down.

The initial reactions of Opposition leaders signal new spending measures, totaling $25 billion, may not find support across the aisle, which could trigger another crisis of confidence in the minority Trudeau government.

This is BS, it’s the opening gambit for taxpayer extortion by the Bloc and NDP, Trudeau will buy them off and survive.