/Liberals fiscal snapshot predicts $343 billion deficit as Morneau offers little intention to curb spending

Liberals fiscal snapshot predicts $343 billion deficit as Morneau offers little intention to curb spending


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“There are growing signs that the worst of the economic shock is behind the Canadian and global economies,” the document said.

National Post

A reporter reads a copy of the federal government’s Economic and Fiscal Snapshot 2020 in a media lock-up in Ottawa on Wednesday, July 8, 2020. Sean Kilpatrick / The Canadian Press

By the numbers

Estimated federal deficit for 2020-21: $343.2 billion

Direct federal aid to individuals and businesses as a result of COVID-19: $212 billion

Number of Canadians who were laid off or had their hours cut as a result of COVID-19 between February and April:5.5 million

Number of Canadians who applied for the Canada Emergency Response Benefit: 8.16 million

Amount government paid out in Canada Emergency Response Benefit as of June 28: $53.53 billion

Number of students who applied for Canada Emergency Student Benefit: 601,356

Amount government paid out in Canada Emergency Student Benefit as of July 2: $1.42 billion

Number of Canadians whose jobs were supported by the Canada Emergency Wage Subsidy: 3 million

Expected unemployment rate by the end of 2020: 9.8 per cent

Expected unemployment rate in 2021: 7.8 per cent

29: Number of times the government uses the word “unprecedented” in its fiscal snapshot documents

— The Canadian Press

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