Tuesday, August 9, 2022
No Result
View All Result
  • Media
Support Us
Macdonald-Laurier Institute
  • Home
  • About
    • Who We Are
    • Who Makes MLI Work
    • Tenth Anniversary
    • Jobs
  • Experts
  • Issues
    • Domestic Policy Program
      • Agriculture and Agri-Food
      • Canada’s Political Tradition
      • Economic policy
      • Energy
      • Health Care
      • Justice
      • Social issues
      • Telecoms
    • Foreign Policy Program
      • Foreign Affairs
      • National Defence
      • National Security
    • Indigenous Affairs Program
  • Projects
    • COVID and after: A mandate for recovery
    • COVID Misery Index
      • Beyond Lockdown
    • Provincial COVID Misery Index
    • Centre for Advancing Canada’s Interests Abroad
      • Dragon at the Door
      • The Eavesdropping Dragon: Huawei
    • An Intellectual Property Strategy for Canada
    • Speak for Ourselves
    • Canada and the Indo-Pacific Initiative
    • DisInfoWatch.org
    • The Transatlantic Program
    • Indigenous Prosperity at a Crossroads
      • Aboriginal Canada and Natural Resources
    • Talkin’ in the Free World with Mariam Memarsadeghi
    • Past Projects
      • Justice Report Card
      • Munk Senior Fellows
      • A Mandate for Canada
      • Confederation Series
      • Fiscal Reform
      • The Canadian Century project
      • Fixing Canadian health care
      • Internal trade
      • From a mandate for change
      • Size of government in Canada
  • Events
    • Upcoming Events
    • Past Events
      • MLI Dinners
      • Great Canadian Debates
  • Latest News
  • Libraries
    • Inside Policy Magazine
      • Inside Policy Back Issues
      • Inside Policy Blog
    • Papers
    • Columns
    • Books
    • Commentary
    • Straight Talk
    • Video
    • Multimedia
    • Podcasts
    • Leading Economic Indicator
    • Labour Market Report
    • MLI in the Media
  • Home
  • About
    • Who We Are
    • Who Makes MLI Work
    • Tenth Anniversary
    • Jobs
  • Experts
  • Issues
    • Domestic Policy Program
      • Agriculture and Agri-Food
      • Canada’s Political Tradition
      • Economic policy
      • Energy
      • Health Care
      • Justice
      • Social issues
      • Telecoms
    • Foreign Policy Program
      • Foreign Affairs
      • National Defence
      • National Security
    • Indigenous Affairs Program
  • Projects
    • COVID and after: A mandate for recovery
    • COVID Misery Index
      • Beyond Lockdown
    • Provincial COVID Misery Index
    • Centre for Advancing Canada’s Interests Abroad
      • Dragon at the Door
      • The Eavesdropping Dragon: Huawei
    • An Intellectual Property Strategy for Canada
    • Speak for Ourselves
    • Canada and the Indo-Pacific Initiative
    • DisInfoWatch.org
    • The Transatlantic Program
    • Indigenous Prosperity at a Crossroads
      • Aboriginal Canada and Natural Resources
    • Talkin’ in the Free World with Mariam Memarsadeghi
    • Past Projects
      • Justice Report Card
      • Munk Senior Fellows
      • A Mandate for Canada
      • Confederation Series
      • Fiscal Reform
      • The Canadian Century project
      • Fixing Canadian health care
      • Internal trade
      • From a mandate for change
      • Size of government in Canada
  • Events
    • Upcoming Events
    • Past Events
      • MLI Dinners
      • Great Canadian Debates
  • Latest News
  • Libraries
    • Inside Policy Magazine
      • Inside Policy Back Issues
      • Inside Policy Blog
    • Papers
    • Columns
    • Books
    • Commentary
    • Straight Talk
    • Video
    • Multimedia
    • Podcasts
    • Leading Economic Indicator
    • Labour Market Report
    • MLI in the Media
No Result
View All Result
Macdonald-Laurier Institute

Economic fallout of COVID-19 will only be resolved if we can get this new virus under control: Philip Cross on Global News

March 16, 2020
in COVID-19, Domestic Policy Program, Economic policy, Health, In the Media, Latest News, Multimedia, Philip Cross
Reading Time: 2 mins read
A A


With the government having announced a significant fiscal stimulus to combat the spread of COVID-19, but will it be enough to help businesses and workers?

Speaking on Global News’ The West Block, MLI Senior Fellow Philip Cross joined Goldy Hyder, President of the Canadian Business Council, and Mike Le Couteur to discuss the economic impacts of COVID-19 and if the government fiscal stimulus will be enough to mitigate the negative impacts on businesses and workers.

“I don’t think we should be concerned with debt to GDP ratios at all. This is a healthcare crisis. It has economic implications and we should be aware of that. But fundamentally, we’re not going to solve this with monetary and fiscal stimulus or economic policy, we have to get this virus under control,” says Cross.

If Canada fails to contain the virus, no economic interventions will prevent Canada’s economy from tumbling according to Cross. Healthcare and health outcomes should be the priority during this time.

Cross goes on to explain that we will not be spending our way out of this crisis. Interventions such as social distancing and ensuring proper washing of hands at little cost to the government, but will have the biggest impact on Canadian health outcomes.

Government spending should be focused on mitigating the negative economic impacts on Canadian workers and businesses. The upcoming federal budget will have to pivot as Canada’s economy will suffer deep losses during this crisis. Pivoting the budget in a short amount of time will be a monumental task, however it is a necessary one according to Cross.

“This is a classic black swan. This came out of nowhere. Nobody was expecting this. The whole budget planning cycle was going into other priorities. But I think they’re going to have to pivot. This is the first, second, and third economic problem this government has to deal with now. So they have to focus on that and that exclusively,” says Cross.

Tags: CoronavirusCOVID-19economic policyeconomyPhilip Cross
Previous Post

Macdonald-Laurier Institute Statement on COVID-19 – MLI’s Ottawa Office Staff Asked to Work from Home

Next Post

The limits of monetary and fiscal stimulus: Philip Cross in the Financial Post

Related Posts

Corporate Canada should take UK tribunal decision on wokeness in the workplace as a warning: Jamil Jivani in the National Post
Columns

Corporate Canada should take UK tribunal decision on wokeness in the workplace as a warning: Jamil Jivani in the National Post

August 8, 2022
Report subsidies as negative taxes: Jack Mintz in the Financial Post
Columns

Report subsidies as negative taxes: Jack Mintz in the Financial Post

August 8, 2022
Russia outlines ambitions for crucial areas like the Arctic in new naval doctrine: Robert Huebert on CBC
Foreign Affairs

Russia outlines ambitions for crucial areas like the Arctic in new naval doctrine: Robert Huebert on CBC

August 8, 2022
Next Post
Past stimulus threatens long-term economic growth and political stability: Philip Cross for Inside Policy

The limits of monetary and fiscal stimulus: Philip Cross in the Financial Post

Macdonald-Laurier Institute

323 Chapel Street, Suite #300
Ottawa, Ontario
K1N 7Z2 Canada

613.482.8327

info@macdonaldlaurier.ca
MLI directory

Follow us on

Newsletter Signup

First Name
Last Name
Email Address

Support Us

Support the Macdonald-Laurier Institute to help ensure that Canada is one of the best governed countries in the world. Click below to learn more or become a sponsor.

Support Us

Inside Policy Magazine

  • Current Issue
  • Back Issues
  • Advertising
  • Inside Policy Blog
  • Privacy Policy

© 2021 Macdonald-Laurier Institute. All Rights reserved.

No Result
View All Result
  • Home
  • About
    • Who We Are
    • Who Makes MLI Work
    • Tenth Anniversary
    • Jobs
  • Experts
  • Issues
    • Domestic Policy Program
      • Agriculture and Agri-Food
      • Canada’s Political Tradition
      • Economic policy
      • Energy
      • Health Care
      • Justice
      • Social issues
      • Telecoms
    • Foreign Policy Program
      • Foreign Affairs
      • National Defence
      • National Security
    • Indigenous Affairs Program
  • Projects
    • COVID and after: A mandate for recovery
    • COVID Misery Index
      • Beyond Lockdown
    • Provincial COVID Misery Index
    • Centre for Advancing Canada’s Interests Abroad
      • Dragon at the Door
      • The Eavesdropping Dragon: Huawei
    • An Intellectual Property Strategy for Canada
    • Speak for Ourselves
    • Canada and the Indo-Pacific Initiative
    • DisInfoWatch.org
    • The Transatlantic Program
    • Indigenous Prosperity at a Crossroads
      • Aboriginal Canada and Natural Resources
    • Talkin’ in the Free World with Mariam Memarsadeghi
    • Past Projects
      • Justice Report Card
      • Munk Senior Fellows
      • A Mandate for Canada
      • Confederation Series
      • Fiscal Reform
      • The Canadian Century project
      • Fixing Canadian health care
      • Internal trade
      • From a mandate for change
      • Size of government in Canada
  • Events
    • Upcoming Events
    • Past Events
      • MLI Dinners
      • Great Canadian Debates
  • Latest News
  • Libraries
    • Inside Policy Magazine
      • Inside Policy Back Issues
      • Inside Policy Blog
    • Papers
    • Columns
    • Books
    • Commentary
    • Straight Talk
    • Video
    • Multimedia
    • Podcasts
    • Leading Economic Indicator
    • Labour Market Report
    • MLI in the Media

© 2021 Macdonald-Laurier Institute. All Rights reserved.

IDEAS CHANGE THE WORLD!Have the latest Canadian thought leadership delivered straight to your inbox.
First Name
Last Name
Email address

No thanks, I’m not interested.