Fall 2020 Economic Statement – Chrystia Freeland News Conference

CPAC Special

Fall 2020 Economic Statement – Chrystia Freeland News Conference

Finance Minister Chrystia Freeland speaks with reporters about measures contained in the federal government’s fall economic statement. This is the government’s first detailed fiscal update since the start of the COVID-19 pandemic, which forced a cancellation of the March 2020 budget presentation by Freeland’s predecessor Bill Morneau. This is also Freeland’s first fiscal update since becoming Canada’s first female federal finance minister. The federal deficit is projected to reach at least $381.6 billion for the 2020-21 fiscal year, but it could near $400 billion if Canada sees escalated restrictions and further COVID-19 lockdowns. The government is prepared to spend up to $100 billion over the next three years on a recovery package. (November 30, 2020)