Bank of Canada Deputy Governor Pierre Duguay says Canada should be prepared to hear a string of alarming economic news in the next the next few months. And he says that justifies a “sense of urgency” in putting the federal government’s stimulus spending to work in the economy quickly.
The Conservative government has proposed spending $40 billion over two years to stimulate the economy, but no money will start to flow until April at the earliest.
Finance Minister Jim Flaherty has called for a free hand in spending $3 billion of the stimulus starting April 1, but opposition parties are asking for some oversight.
I have a wonderful idea that should make everyone happy. Direct the $3 billion to create new homeless shelters and low-cost housing. That would restart our woeful construction sector creating thousands of jobs across Canada. It would be easily tracked as Michael Ignatieff wants the stimulus to be transparent.
