Business as Usual? Re-opening the Economy

The combination of economic slowdown and what some consider lavish federal spending created a lot of fears and frustrations about economic recovery.

When news agencies investigated at the end of 2020, they found it was difficult to tell where federal relief money had gone.

In late 2020,  CBC News reported that multiple people had been told to pay back the money they received from CERB.

Some feel the Canadian government went too far in assisting citizens, since generous government programs may lead to a crisis of national debt.

Many Canadians fear a major post-pandemic recession.

Safety and Security

The pandemic changed the attitudes of governments and citizens towards the economy. No one could have predicted the impacts of the pandemic, and it has encouraged a re-evaluation of how the economy should run. Some Canadians believe that continued government relief could improve the lives of many.

CERB payments improved life for  Canadians. Many people now feel that a national Universal Basic Income would offer poorer citizens a better standard of living.

This article predicts that the pandemic crisis has shifted government spending habits for the long term.

An Uncertain Future

As soon as the shutdown started in March 2020, Canadians wondered when it would end. Governments immediately tried to project when they could allow the economy to safely reopen. Provincial governments made varying decisions, with varying results. No economy fully reopened before a second wave of Covid-19 cases in the winter of 2020- 2021 forced governments to order business shutdown again.

The government of Manitoba called for a ‘restart' in the late summer of 2020.

Much more cautious, the Atlantic provinces kept their borders closed throughout 2020. Their economies fared better than expected.

In Alberta fears of recession are widespread.

Canada's Finance Minister, Chrystia Freeland, tweeted that the government have a plan to get through the winter.

Provincial and federal governments repeatedly assured Canadians that they have a plan for the future and have faith that the pandemic will end. This exhibit was created during the ‘dark months’ Freeland references, as province after province re-entered lockdown at the end of 2020. It remains to be seen if the Canadian economy will re-open in 2021 with a whimper or a roar.
Prev Next