News

Canadian gov’t set to deliver targeted support in fall fiscal update

Announcements coming Monday

Canada’s government has spent more than any other country during the pandemic as a percentage of GDP. That number is going to continue to balloon.

The Globe & Mail reports that Monday’s update will offer fresh targeted support for retail, hospitality and tourism. The deficit will continue to grow from the $343.2B forecast from July.

At some point the heavy spending in Canada will be a headwind for the loonie as the deficit is reigned in but for now it’s a tailwind, particularly with commodity prices rising.

A separate report in Canada says the federal government is about to announce single-game sports betting today.

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