Le Lézard
Classified in: Health, Business, Covid-19 virus
Subjects: ECO, AVO

The MEI's President and CEO reacts to the emergency economic measures


MONTREAL, March 25, 2020 /CNW Telbec/ - The members of the House of Commons today passed the COVID-19 Emergency Response Act following negotiations between the government and the opposition parties. The President and CEO of the MEI, Mr. Michel Kelly-Gagnon, shares his reactions.

"At first glance, many of the Bill's measures seem reasonable and guided by simple common sense. There are, for instance, the income support payments to workers affected by the coronavirus, or again the additional payments to the provinces and territories that might need them," says Michel Kelly-Gagnon.

"Also good is the fact that many of the measures contained in this Bill are of limited duration, and will need to be approved again later by Parliament," says Mr. Kelly-Gagnon. "This therefore limits the risk of undemocratic abuses or excesses," adds the MEI's President and CEO.

The government as arsonist-firefighter

While the government's stated interest in "promoting the stability or maintaining the efficiency of the financial system in Canada" is potentially a very good thing, Mr. Kelly-Gagnon nonetheless has a word of caution for public decision-makers.

"No one can be opposed to this, but it must be recognized that the details will be extremely important. The government's actions risk generating unintended consequences in the medium and long term. Indeed, this is what we observed with the government interventions responding to the 2008 financial crisis: More often than not, the government acts like an arsonist-firefighter," argues Mr. Kelly-Gagnon.

"Finally, we cannot help but bemoan the fact that the current federal government decided to accumulate deficits when the economy was humming. This reduces its room to manoeuvre today and its ability to deal with serious crises like the one we are presently living through," concludes the President and CEO of the MEI.

The MEI is an independent public policy think tank. Through its publications, media appearances, and advisory services to policy-makers, the MEI stimulates public policy debate and reforms based on sound economics and entrepreneurship.

SOURCE Montreal Economic Institute


These press releases may also interest you

at 03:23
The total number of votes in EQT AB (publ) ("EQT") changed during March 2024 as a result of a conversion of 348,106 class C shares to 348,106 ordinary shares. The conversion was made pursuant to EQT's previous Share Program. The total...

at 03:20
Due to a conversion of shares from Series A to Series B in accordance with AB SKF's Articles of Association, the Company confirms the following. As per 28 March 2024, the Company's share capital amounts to SEK 1,138,377,670 and the total number of...

at 03:00
Caledonia Mining Corporation Plc ("Caledonia" or the "Company")  announces its operating and financial results for the year ended December 31, 2023 (the "Year"). Further information on the financial and operating results for the Year and the quarter...

at 03:00
This week marks the launch of The Lenserf Group's pioneering "Exceed Your Potential Academy" for over 20 student interns from six Historically Black Colleges and Universities (HBCUs). This innovative, employer-sponsored program offers an 8-week...

at 03:00
Performance Brokerage Services, North America's highest volume dealership brokerage firm, is pleased to announce the sale of Kawasaki Honda of Medford, Oregon from Milt and Kathy Smith to Jaime Rodriguez, Parminder Thind, and...

at 02:59
Israel Corporation Ltd. ("ILCO") announced today its fourth quarter and annual results for the period ending December 31, 2023. Selected Financial Figures for the Fourth Quarter and 2023: $m Q4/23 Q4/22 2023 2022 IC share in ICL profit 29 146 285...



News published on and distributed by: