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On November 30, the Honourable Chrystia Freeland, Minister of
Finance, put forward the Government s Fall 2020 Economic
Statement. The document referred to as “FES 2020”
provides updated economic forecast numbers, announces a number of
measures specifically related to the Covid-19 pandemic, and puts
forward a number of income tax and GST measures for either current
implementation or future study.
FES 2020 projects a total budget deficit in the current
(2020-21) fiscal year of over $380 billion dollars, dropping to
approximately $120 billion in the following fiscal year and down to