Delta variant threat to the global economy means fiscal prudence may take an election back seat
This week, the world’s most influential central banker, U.S. Fed Chair Jerome Powell, called the delta variant a “wild card” for the global economy.
While there are warning signs that the growing impact of this new, more contagious strain may play a role in the upcoming Canadian election, economic observers say that by itself, a slowdown during the campaign may not have the effect it might have had in the past.
As the health of Canadians takes centre stage in the minds of voters, and as parties take turns proposing their own stimulus measures, some say fiscal conservatives may have more trouble rousing voters this time around.
That is not to say economic issues related to the pandemic — such as the cost of housing, a 10-year high for inflation, business shutdowns and the effect of school closings on working parents — won’t also become election issues.