The Daily Chase: Federal government unveils budget; Bitcoin stabilizes after big plunge
Chrystia Freeland, Canada's deputy prime minister and minister of finance, listens during a news conference in Ottawa, Ontario, Canada, on Tuesday, Oct. 20, 2020. Prime Minister Justin Trudeau warned opposition lawmakers they will trigger an election in Canada if they approve the creation of an "anti-corruption" committee.
, Bloomberg
For the first time in more than two years, itâs budget day in Canada â and the leaks are coming fast and furious. Letâs rattle through some of them: Our Bloomberg News partners are reporting the feds will extend wage and rent relief, while adding a temporary support program for new hirings, plus approximately $2 billion earmarked for childcare, and will also plow ahead with previously telegraphed taxes on digital services. Elsewhere, Reuters said the budget will also present a timeline for other Big Tech taxation measures that were floated in the Fall Economic Statement, plus a levy on yachts and other luxury items (which the Liberals previously set their sights on in their platform). And the big one: The Globe and Mail is reporting Finance Minister and Deputy PM Chrystia Freeland will go all the way in deploying the $100 billion in stimulus that she floated in the Fall Economic Statement. Which brings us to one of the many important questions for today: How will the feds manage the immediate health crisis while demonstrating fiscal responsibility that Bay Street and the broader business community craves?