Canada’s defence spending will lift economy but won’t stop recession: report

The Trudeau government’s spending splurges — less than Bank of Canada interest rate policies — were largely responsible for soaring inflation during the pandemic, a new report has concluded. The report, conducted by two economists at the C.D. Howe Institute, points the finger at Ottawa’s unfunded spending spree that acted as “helicopter drops” of money for the private sector. In 2020, the report says, 20.7 million Canadians out of an adult population of 30.3 million received income from one of the federal pandemic-related programs. In 2020, the programs are estimated to have cost $...