Economy

Outside of the government executives from some of the largest banking institutions in Canada met with Deputy Prime Minister and Minister of Finance Chrystia Freeland and urged the government to get its debt under control and to commit to new debt limits. Right now Canada’s debt is pushing over $874 billion, $343 billion of which is due to COVID-19 related spending alone.

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The Canadian economy just saw  its deepest drop-off on record with Statistics Canada reporting a GDP decline of 38.7% between April and June.

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The rise of a new cottage industry would mean that local suppliers and local supply chains would stimulate growth. This would even work on a community scale. The shared resources from a community in one or various industries would be used for promotion and advertisements or shared shipping.

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