Abstract:Canada entered the COVID-19 pandemic with a strong fiscal position, which gave it room to mitigate its economic impacts. Of interest in this paper is the history of Canada's financial position in terms of net debt as reported in the Government of Canada's annual financial statements. Net debt is a measure of fiscal sustainability that has been reported in the Government of Canada's public accounts since the country's earliest days. It created (and continues to create) a particular visibility of the "effectiven… Show more
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