Mark Carney, former governor of the Banks of Canada and England, and Michael Sabia, ex-CEO of the Caisse de dépôt et placement du Québec, will provide input on Ottawa’s plan to restart the economy. (Bloomberg)
Mark Carney, former governor of the Banks of Canada and England, and Michael Sabia, ex-CEO of the Caisse de dépôt et placement du Québec, will provide input on Ottawa’s plan to restart the economy. (Bloomberg)
Mark Carney, former governor of the Banks of Canada and England, and Michael Sabia, ex-CEO of the Caisse de dépôt et placement du Québec, will provide input on Ottawa’s plan to restart the economy. (Bloomberg)
Talking point: Finance Minister Bill Morneau planned to prioritize spending on environmental programs in the never-tabled 2020 federal budget, and the prime minister’s choice of advisers suggests climate change and infrastructure will be key focuses of the post-pandemic strategy. Carney is the UN special envoy on climate action and finance, and he’s championed new climate-risk measurement standards for financial institutions. In April, the Liberal government appointed Sabia the new chair of the Canada Infrastructure Bank. The nature of the pandemic’s economic fallout—which has affected services firms and women workers significantly more than previous recessions—requires a less building-heavy stimulus plan than in the past, according to some economists. Ottawa’s plan also reportedly includes spending on immigration and social programs.
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