Prime Minister Justin Trudeau and his cabinet have been hit with a tsunami of dire economic predictions while on their retreat in Hamilton.
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The report, “Assessing the Potential Risks to the Sustainability of the Government of Canada’s Current Fiscal Plan” said the Trudeau government is facing three major risks: Second, that it may not be possible to get the Canadian inflation rate down to 2% by the end of 2024, without higher interest rates in 2023 and a deeper recession.Article contentThird, that supply chain constraints may become a permanent fixture of the Canadian and global economies, resulting in prolonged high interest rates on an ongoing basis.
On Tuesday, three more economists gave the Trudeau cabinet a series of similar warnings — the recession this year may be deeper than previously forecast, with higher unemployment and high interest rates and inflation.
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