As unbelievable as it may sound, imagine that Justin Trudeau paid out in benefits to Canadian households twice as much as the lost income suffered due to COVID-19!
In the second quarter, according to RBC Economics Research, federal assistance to Canadian households in Canada Emergency Benefit (CEP) and other benefits amounted to $ 56 billion as wage losses due to the pandemic amounted to $ 56 billion. to $ 23 billion. This represents a surplus of $ 33 billion.
This means that Trudeau’s payments in PKU and COVID-related benefits exceeded household wage losses by 143% during the first three months of the war against the damn pandemic.
Did Justin Trudeau enrich households with PKU?
How ridiculous is the economic impact of this federal gift? “In the end, according to the RBC study, the disposable income of Canadian households jumped 11%”, thereby increasing the purchasing power of home buyers.
That the Trudeau government put in place an economic intervention plan to respond to COVID-19 last March was totally justifiable.
But what just doesn’t make sense is paying all the victims of COVID a lot more money than the losses suffered.
It is a shameless waste of public funds. Thirty-three billion dollars overpaid during the first three months of the pandemic? We agree that this is a nasty bill to be paid off by all taxpayers.
That the federal government financially support the real victims of the economic crisis generated by the pandemic … we can only congratulate it.
But that it gives many beneficiaries of the COVID Response Plan more money than the losses suffered, is completely absurd and totally unjustifiable.
When a government financial survival plan makes it possible to increase purchasing power, do you agree that it is royally wrong!
Justin Trudeau’s inordinate generosity has obviously had a disastrous impact on the first quarter of the current fiscal year of the federal government.
Thus, for the period from April to June of the 2020-21 fiscal year, the federal government posted a budget deficit of $ 120 billion.
The federal government’s program expenses alone exploded by $ 90.3 billion, mainly due to money transfers paid to individuals and businesses under the Economic Intervention Plan.
Unfortunately, we can expect that the gap between the benefits paid under Trudeau’s intervention plan and the salary losses actually suffered will increase substantially over the months of July, August and September.
From April to September, remember that the Trudeau government planned to pay victims of COVID-19 some 80.5 billion in ECPs to workers and $ 5.2 billion in ECPs to students.
In addition, there were emergency wage subsidies in the order of $ 86 billion.
And the essential workers who supported us in these times of war against COVID-19 were entitled, for their part, to a “top-up” of $ 3 billion.
No doubt they deserved it!
DURING THIS PERIOD FROM APRIL TO JUNE, THE FEDERAL MAKES IN PARTICULAR
$ 41.6 billion in PCU
$ 22.8 billion in emergency wage subsidy
$ 5 billion in addition to various services (seniors, children, etc.)
$ 13 billion in emergency business support and the Canada Student Emergency Benefit (CPUE)
$ 3 billion essential workers