Finance Minister Freeland Defends Fall Economic Statement

In Committee from the House of Commons

Finance Minister Freeland Defends Fall Economic Statement

Finance – December 8, 2020:

Finance Minister Chrystia Freeland faces questions over the government’s fall economic statement, the first detailed fiscal update since the start of the COVID-19 pandemic. Minister Freeland also responds to questions about the independence of the Bank of Canada, the aerospace industry, the government’s emergency pandemic relief benefits, and more.

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.

Also responding to questions are the Department of Finance’s Soren Halverson, Andrew Marsland, Nicholas Leswick, Tushara Williams, and Evelyn Dancey.