In the opening aria of Finance Minister Chrystia Freeland’s 2022 budget performance Thursday in the House of Commons, the words of self-congratulation hit nothing but high notes. The Canadian economy, she intoned in a modest middle C introduction, has recovered from the COVID-19 recession brought on by government lockdown policies.
Canada has regained 112 per cent of the jobs that were lost during those awful first months, she sang. Unemployment is down. And, her voice rising, Freeland moved to the melodic heart of her budget speech. “Our real GDP is more than a full percentage point above where it was before the pandemic. Think about that: after a devastating recession — after wave after wave and lockdown after lockdown — our economy has not just recovered.”
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