This column by Armine Yalnizyan was originally published by the Toronto Star on Wednesday November 2, 2022. Armine is a Contributing Columnist to Toronto Star Business featured bi-weekly.
The fall economic statement comes out on Thursday and, regardless of what’s in this mini-budget, it promises to be a big deal.
The federal government’s regular fiscal update on how the budgetary year is unfolding usually doesn’t merit much of your time or attention. This year is different because so much has happened since April, when the federal budget was tabled.
People are anxious. The world is talking about recession. No matter Canada’s economic fundamentals — we are doing better on growth, inflation and even government borrowing than most places — we won’t duck bad times if the economies of the U.S., U.K., EU and China stall, or worse.