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View Bill Morneau Profile
Lib. (ON)
Well, I would start by saying it's pretty clear that the federal government has led the way. The federal investments on behalf of people and businesses have been extremely significant. You've seen the direct support now—as I mentioned in my opening remarks—that's in excess of $150 billion.
There's very significant support from the federal government. It is true that the federal government had a strong fiscal position going into this, and we remain capable of dealing with this challenge on behalf of Canadians.
That said, I know that provinces also have the capacity to be an important part of this effort. We are seeing provinces recognize that. They're putting forward programs, in some cases, and that is also important.
The kinds of things we've done, which have been supporting provinces with things like the essential worker top-up or the support for commercial rent—both areas that are really provincial—have been important. The Bank of Canada supporting the issuance of debt from the provinces has been critically important for them in having access to capital.
We've provided significant support. We'll need to continue to work together on the challenges we face, and we need to consider different jurisdictions and levels of government as we move forward appropriately.
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