A local MP said he has faith that if residents stay on track as a country and everyone does their
part to protect one another, it will set the stage for a successful economic rebound.
Central Nova MP Sean Fraser said the federal government’s emergency economic response to the COVID-19 pandemic is the largest in the country’s history and largest of any G7 country. Fraser said the government’s decision was one of determining who was in the best position to incur the cost of the pandemic, be it households and businesses, the provincial governments, or the federal government. The federal government chose, he said, to use its fiscal capacity and low interest rates to finance the recovery, noting it’s an expensive set of measures but the cost of inaction would have been greater.
Fraser said the federal government will continue to look at ways of supporting households and allowing businesses get their feet under them. As for a longer term outlook, Fraser said he’s hesitant to mention specifics but it would be no secret to say they are looking at options around funding to help provinces cover child care costs.
Although there are federal and provincial initiatives helping lead the charge to protect residents, Fraser said everyone will have to continue to do their part and follow public health regulations.