The throne speech is where the government lays out its upcoming priorities
- Promises major spending and policy initiatives to fight the coronavirus
- Says will support people and businesses through this crisis "as long as it lasts, whatever it takes"
- Says it will launch a campaign to create more than 1 million jobs, restoring employment to pre-pandemic levels
- Will make "significant, long-term sustained investment to create a Canada-wide early learning and childcare system"
- Will introduce support for for hardest-hit industries, including travel, tourism and hospitality
- Will use "whatever fiscal firepower is needed"
- Will address corporate tax avoidance by digital giants
- Will release fiscal update with projections later this year
- Will invest in infrastructure, including clean energy and affordable housing
- Will legislate net-zero emissions goal by 2050
- Will make zero emissions vehicles more affordable and invest in Canadian charging stations
The Canadian dollar is at the lows of the day on the headlines but that's more about the broader risk tone. There are no real surprises here as Trudeau long-ago abandoned austerity or any sense of fiscal prudence.
For foreign investors, Canada is looking like a decent place to park money in the short term because the government money is going to be flowing. That should ultimately help CAD but it's skewed by the election at the moment. In the longer-term the cost of all this will be a CAD drag.
