Budget 2021: The pandemic
The federal government will unveil its first budget in more than two years on April 19. This budget will be released as Canada emerges from the worst economic shock in modern times caused by the COVID-19 pandemic. The federal government is promising to spend between 70 and 100 billion dollars over the next three years to ensure Canadians continue to have the federal supports needed to weather successive waves of the pandemic. Earlier this month, the parliamentary budget officer, Yves Giroux, said the portion of federal spending related to COVID-19 is set to drop by 86 per cent in the coming fiscal year compared to 2020-21. In 2020-21, an estimated $122 billion rushed to Canadians through labour market supports such as the emergency response benefit, the recovery benefit and enhanced employment insurance.