• Latest
  • Trending
Economics expert says federal government’s plan announcement will not help inflation – Global News

Economics expert says federal government’s plan announcement will not help inflation – Global News

August 11, 2022

Germany Connected Vehicle Market Share 2023 New Opportunities … – Digital Journal

January 30, 2023

Online apparel retailing market 2023-2027: A descriptive analysis of five forces model, market dynamics, – Benzinga

January 30, 2023
Some of the world’s top economists have weighed in on Argentina and Brazil’s plan for a common currency: ‘This is insane’ – Yahoo Finance

Some of the world’s top economists have weighed in on Argentina and Brazil’s plan for a common currency: ‘This is insane’ – Yahoo Finance

January 30, 2023

Beverly Crest shooting: 3 killed, 4 injured during shooting outside rental property – FOX 11 Los Angeles

January 30, 2023
'Get Out' and 'M3GAN' star Allison Williams talks about her life in horror – Entertainment Weekly News

'Get Out' and 'M3GAN' star Allison Williams talks about her life in horror – Entertainment Weekly News

January 30, 2023

World's Top Ten Billionaires; Gautam Adani Still Retains His Spot! – Inventiva

January 30, 2023

How Bangladesh trying to keep the stability? – Modern Ghana

January 30, 2023

Top 10 — No. 2: The American Luxury Powerhouse – WWD – WWD

January 30, 2023
Germany Economic Forecast: Government Expects Growth by 0.2 … – Bloomberg

Germany Economic Forecast: Government Expects Growth by 0.2 … – Bloomberg

January 30, 2023

New Digital Agency Can Help Luxury Brands Bridge Heritage And … – Forbes

January 30, 2023

Luxury Remains Robust Despite Volatile Markets, Says Richemont – WWD

January 30, 2023
YouSolar Is Providing Households With Complete Electrical Independence – Benzinga

YouSolar Is Providing Households With Complete Electrical Independence – Benzinga

January 30, 2023
Retail
Monday, January 30, 2023
Subscription
Advertise
  • Home
  • Government
  • Economy
  • Entertainment
  • Sport
  • Property
  • Leisure
No Result
View All Result
Get Economics News
No Result
View All Result

Economics expert says federal government’s plan announcement will not help inflation – Global News

by admin
August 11, 2022
in Economy, Government
0

Want to discuss? Please read our Commenting Policy first.
The federal government has unveiled an $8.9-billion “affordability plan” to help Canadians deal with inflation, but an economist with the University of Regina is concerned the government is not dealing with the problem, and might actually be making it worse.
“The system is overheating,” said Jason Childs, an associate professor of economics at the University of Regina.
“We’re dumping more money into the system, so what that’s going to do is it’s going to further inflation. It’s going to mean that interest rates as controlled by the Bank of Canada are going to have to rise even more than they otherwise would.”
Read more: Canada’s inflation rate hit 7.7% in May, fuelled by soaring gas, food prices
Deputy Prime Minister and Finance Minister Chrystia Freeland announced the $8.9-billion plan earlier this month in her first major speech since the release of the federal budget.
“We know that Canadians are worried about inflation and that they’re asking what their government is going to do about it,” Freeland said.
The federal government’s “affordability plan” offers $8.9 billion in new support that will “more money in the pockets of Canadians at a time when they need it most,” she said.
Read more: Freeland touts affordability programs, but no new spending, to combat inflation
Yet if Childs thinks this might overheat the system, what does he think the solution should be?
According to Childs, the solution remains in the hands of the federal government and the Bank of Canada in what he calls fiscal restraint. For Childs, actions speak much louder than words.
“We need the government to reduce its spending and to really take that sort of fiscal restraint seriously,” Childs said.
“It stopped getting the Bank of Canada to buy its bonds. That’s good news that will slow things down. But we are a long way from where we need to be to stabilize inflation.”
According to Childs, Saskatchewan is actually doing better than most provinces in Canada in terms of inflation.
Overall, Saskatchewan’s need for relief from inflation is lower than elsewhere. But the reality is there is no relief in sight from inflation said Childs and those already struggling to make ends meet will continue to be hit the hardest.
Get a roundup of the most important and intriguing national stories delivered to your inbox every weekday.
Get a roundup of the most important and intriguing national stories delivered to your inbox every weekday.

source

YOU MAY ALSO LIKE

Some of the world’s top economists have weighed in on Argentina and Brazil’s plan for a common currency: ‘This is insane’ – Yahoo Finance

Germany Economic Forecast: Government Expects Growth by 0.2 … – Bloomberg

ShareTweetShare

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Search

No Result
View All Result

Recent News

Germany Connected Vehicle Market Share 2023 New Opportunities … – Digital Journal

January 30, 2023

Online apparel retailing market 2023-2027: A descriptive analysis of five forces model, market dynamics, – Benzinga

January 30, 2023
Some of the world’s top economists have weighed in on Argentina and Brazil’s plan for a common currency: ‘This is insane’ – Yahoo Finance

Some of the world’s top economists have weighed in on Argentina and Brazil’s plan for a common currency: ‘This is insane’ – Yahoo Finance

January 30, 2023
WordPress Site

© 2022 Get Economics News

Navigate Site

  • About
  • advertise
  • Privacy & Policy
  • Contact Us

Follow Us

No Result
View All Result
  • Home
  • Government
  • Economy
  • Entertainment
  • Sport
  • Property
  • Leisure

© 2022 Get Economics News

Privacy Policy