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Canada to Reveal Huge COVID-19 Deficit, Make ‘Down Payment’ on National Childcare

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OTTAWA—Canada next week will reveal the breadth of the emergency spending it has made during the pandemic and lay the groundwork for future stimulus and social measures, like a national childcare program, government sources told Reuters. Canada did not release a budget for this fiscal year, which began in April, because of the economic uncertainty created by COVID-19, but in July projected a $343.2 billion deficit, the largest since World War II. The new fiscal document, dubbed the Fall Economic Statement, will be released on Monday and will include several scenarios for future spending and growth, and an update on this year’s deficit, which one source said would be greater than the July estimate. Much of the emphasis in Finance Minister Chrystia Freeland’s first fiscal planning document will be focused on support during the current surge in coronavirus cases, including possible new measures. But there will also be a “down …

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