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Forex News

Canada to introduce new powers to spend, raise taxes without Parliamentary approval

Having seen a copy of the legislation set to be tabled Tuesday, Globe Mail reports that the Canadian federal Liberals are set to introduce a bill granting them sweeping new powers to spend money and raise taxes without having to get the approval of Parliament, in the face of the coronavirus pandemic.

Further details

When a small number of MPs from all parties return to Ottawa to pass a multibillion-dollar coronavirus support package.

The legislation grants Finance Minister Bill Morneau extraordinary new powers to spend, borrow and tax without having to get the approval of opposition MPs until December 2021.

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