Canada’s Response to the Coronavirus: Better than the US, Worse than EU

Mar 31 13:03 2020 Print This Article

How does Canada’s fiscal response to the coronavirus stack up so far relative to the rest of the world? Data compiled by the IMF suggests that the totality of Ottawa’s announced measures rank somewhere in the middle among major western economies. Part of the measurement challenges involve disaggregating the direct spending component (e.g., extending unemployment insurance, food assistance, grants, funding for hospitals and health care infrastructure) versus items such as state guarantees for loans to businesses, or tax relief/deferment. Unlike Washington, Ottawa seems to have prioritized relief to individuals over corporate bailouts, but even here is less generous than most major European Union counterparts, as well as the United Kingdom.

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Broadbent Institute Economics Blog

Throughout his distinguished career, Ed Broadbent – educator, advocate, and political icon – has strived to create a better and more compassionate Canada. The institute exists to advance this vision. Broadbent understands that too much emphasis on markets can threaten important social programs and produce extreme levels of inequality, which excludes too many Canadians from making meaningful choices and enjoying a life of dignity.

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