Geopolitics

Chrystia Freeland’s harsh winter with high debt, sector support and so many promises

Politics Insider for December 3rd: The Treasury Secretary presents her first fiscal update, the government postpones controversial gun regulations and Canada’s pandas are back in China

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It was not a full federal budget, but finance minister Chrystia FreelandThe nation received the first fiscal and economic declaration 237 pages of estimates, plans and forecasts as well as an early forecast of a post-pandemic Canada. The headlines were all just as unprecedented as Bill Morneau’s summer snapshot: a $ 381 billion deficit (and maybe more), a national debt that exceeds a Trillion dollars and up to $ 100 billion in future incentives.

Freelands confidence exercise: Paul Wells saw the tax update as an opportunity to learn about all of the schedules, costs, and plans required to achieve the liberal mantra of “Better Back Down”. What he found was a plan not too dissimilar to Bill Morneau’s fiscal vision, as well as many promises – but not much precision as to when the recovery will be completed.

How much will this crisis even cost – in dollars if not in human suffering that is becoming increasingly difficult to grasp? What does “better dismantle” mean? How will the Trudeau government reduce the disproportionate burden on women from the 2020 economic crisis? What criteria determine spending decisions after the end of the crisis or after tomorrow sunrise? Today was the day Chrystia Freeland finally provided answers to these questions and more, and in any case, was her answer “I’ll tell you the answer another time.”

We are facing a harsh winter: Shannon Proudfoot noticed a repetition rhetorical theme in the tax update and the Freeland speech that gave him his vote. The finance minister explained an obvious, literal truth to both of them and painted an ancient pastiche: It’s winter right now. One day it will be spring. The entire liberal package, for all its billions in spending, assumes that everyone opts for this simple idea of ​​the terrible present and the hopeful future:

The subject was treated in an almost comedic manner in Freeland’s remarks to the House of Commons when she presented the fall economic statement on Monday and throughout the document itself. But the details make it clear that in terms of any large green or progressive redesignThis is a roadmap for winter and not an ambitious spring yet as the country is still under a country Collect snowstorm.

The liberal economic long game: The party in power wants the Canadian people to know these things: debt is cheap because interest rates are low, a vaccine might be on the way in the near future, and any economic forecast is that growth is the name of the game in 2021 will be (and beyond). So, forget about all the headlines about red ink and focus on the stability that will soon replace uncertainty. Of course, the opposition will never see things this way:

The Liberals will be the party that set new deficit records and plunged the nation into $ 1 trillion in debt with no plans to reduce it. Any stimulus package is guaranteed to stir the ire of opposition politicians waiting to pounce on a lead Pork barrel, bureaucracy or ideological preference. And they’ll cry about the fact that the Liberals never presented a full budget in 2020.

Five insights from the tax update: Prajakta Dhopade searched the document looking for issues either responding to urgent health needs or ticking off a liberal election pledge. She found money for Long term care, the Aircraft industry, planting trees, indebted students and Workers who work remotely (as well as those who cannot).

Yesterday Freeland’s day was in the spotlight. Prime Minister today Justin Trudeau will defend his government’s plan at a press conference outside his home Rideau Cottage– and later take part in Question Time in the House of Commons.

Put this under “Items buried on tax update day”. Public Safety Canada announced a second postponement of a new one “Firearm Marking” Regime that could eventually force manufacturers to stamp certain identifying information on weapons (the first postponement came in 2018, and the regulations were first introduced in 2004). A statement from the department promises “continued” consultations. The government ended the letter by breaking off speculation about the gun lobby on the passport: “The government will not reintroduce this Long gun register. ”

The pandas are at home: A few months ago Da Mao and He ShunThe prospects for a healthy life looked bleak. The Calgary Zoo was running out of bamboo (the Canadian source was unclear) and a return trip to China was frozen because of the problems the zoo described as “emerging government sensitivity.” The Chinese side seems to have come to an agreement, however, as the zoo announced that the pandas would be after a Marathon trip via a “diverted Lufthansa Cargo flight” to Frankfurt. Welcome Home.

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