Ottawa’s Coronavirus Deficit Will Take Years to Pay

July 6, 2020

Less than a minute

Source: Amanda Connolly, globalnews.ca, July 06, 2020

It may be upwards of a decade before the deficit is eliminated and start paying down the debt.

The massive federal deficit created by the unprecedented coronavirus emergency response could take more than 10 years to get under control, one economist suggests.

In an interview with The West Block guest host Robin Gill, the B.C. Business Council’s chief economist, Ken Peacock, speculated that while some economic activity might normalize more quickly, the $260-billion federal deficit forecast by the parliamentary budget watchdog will not be under control for some time.

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