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RBC’s CEO Cautions Trudeau Against Overspending in New Budget
Royal Bank of Canada Chief Executive Officer David McKay cautioned the Canadian government against overspending in this year’s budget, saying that previous stimulus programs already have the economy primed for a strong recovery. Prime Minister Justin Trudeau has said he has voters’ support to release an ambitious, debt-financed recovery plan. Finance Minister Chrystia Freeland is scheduled to unveil the budget, the government’s first full spending plan in two years, on April 19. McKay said the government’s Covid-19 support programs have resulted in an extra C$180 billion ($143 billion) in cash in consumers’ ... (full story)