Seven things the social impact world needs to know about the federal economic update
Why It Matters
Ottawa’s fall economic statement is traditionally a snapshot of spending from the previous year. In 2020, the document represents another hint for the Liberal government’s priorities in the upcoming federal budget. Its contents will be significant for struggling social impact organizations.
Canada’s COVID-19 recovery plan is emerging in fits and starts as the federal government simultaneously struggles to stave off another wave of cases, prop up a struggling pandemic economy, and close deals on a successful vaccine. Monday’s fall economic statement is the latest incremental update.
It runs 287 pages of graphs, grim economic projections, and enhancements to the Liberal government’s pandemic response. There are few surprises in the document which, in normal times, acts as a checkpoint for a federal government’s spending habits over the previous year before it hunkers down to design an annual budget in the spring. But the Liberals did not table a budget in March, as the COVID-19 pandemic began creeping into the country.
While the social impact sector isn’t explicitly mentioned in the update, the document nonetheless serves as the latest hint o
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