The reality is that Canada’s economy was already very weak before the CCP Virus hit.
Liberal finance minister Bill Morneau is responding to the devastating downgrade of Canada’s Credit Rating.
Here’s what he said:
My statement on Fitch's recent rating decision // Ma déclaration sur la décision de Fitch sur la note de crédit du Canada⬇️ pic.twitter.com/UblHfNHPXK
— Bill Morneau (@Bill_Morneau) June 24, 2020
Of course, Morneau’s statements are totally wrong, and he got shredded by Conservative finance critic Pierre Poilievre:
“No Minister. Going into the pandemic you gave us $80B in debt, growth of 0.3%, half of Canadians $200 from insolvency, higher unemployment than US, UK, Japan & Germany and the second highest total public&private debt/GDP in the G7.
All of that before the first COVID case.”
No Minister. Going into the pandemic you gave us $80B in debt, growth of 0.3%, half of Canadians $200 from insolvency, higher unemployment than US, UK, Japan & Germany and the second highest total public&private debt/GDP in the G7.
All of that before the first COVID case. https://t.co/XvjYsLPNze
— pierrepoilievre (@PierrePoilievre) June 24, 2020
If Canada’s economy had been strong before the crisis, and if the government had unleashed the potential of the Canadian People, it would have been far easier for us to get through this crisis and sustain a period of higher debt.
“I don’t blame Morneau for new measures necessitated by covid. But this backpatting about what a great job he did before the crisis hit is such nonsensical revisionism. He blew *his own targets* from *the Libs’ own platform*. By their own standard, that they chose, they failed.”
Instead, due to previous weakness, the current situation is much worse, and the consequences will be with us for a long-time.
No amount of false statements from Morneau can change that.
Photo – YouTube