Ottawa, Canada: Canada spent hundreds of billions of dollars to aid workers and keep businesses afloat during the pandemic, causing its national debt to soar. Canadians aged 65 or older, who will soon make up one quarter of the population, aren't concerned about having to repay the borrowed funds, while millennials on whom it will likely fall support higher social spending. Pandemic exposed social inequitiesJerry Dias, head of Canada's largest private sector union, argued the pandemic exposed social inequities that require heaps of new spending to mend. "I'm surprised that Canadians' attitudes toward debt has shifted so dramatically during the pandemic, how cavalier people have become about piling on debt." Lee cautioned that soaring costs, including on health care may prompt the government to adopt "very profound changes in taxation."

Source: Manila Times September 19, 2021 14:03 UTC