CANADA CAN SPEND ITS WAY TO BALANCED RECOVERY, DODIG SAYS

Canada will have capacity for stimulus programs to keep a rebound going even after massive government spending on the COVID-19 crisis, said Canadian Imperial Bank of Commerce Chief Executive Victor dodig, shown. Quebec’s subsidized childcare system should be a “blueprint” for the nation in helping women in the workforce, and the country’s tax-advantaged education savings plans could be adjusted to help mid-career workers acquire new skills, dodig said in a speech to the Canadian Club of Toronto. While there is a danger of “getting enamoured with an era of cheap money,” the government will still have the ability to spend on programs like that, dodig said in an interview following the speech. Those initiatives will help spur the economic growth needed for a more balanced recovery, he said.