Canada: Federal Government delivers its 2020 Economic and Fiscal Snapshot

On 8 July 2020, Canada’s Finance Minister Bill Morneau delivered a 2020 Economic and Fiscal Snapshot, taking into account the more than CA$230 billion¹ in economic measures introduced to support individuals and businesses impacted by the COVID-19 crisis. The snapshot, which outlines Canada’s current economic situation, does not include any new tax measures affecting individuals or corporations.

The snapshot forecasts a budgetary deficit of $343.2b for 2020–21, up from a deficit of $34.4b rep…