MLI senior fellow Philip Cross appeared on BNN Bloomberg to discuss the testimony of Evan Siddall, the president and CEO of Canada Mortgage and Housing Commission (CMHC), before the Finance Committee. Sidall presented a dire picture for Canada's economy which sparked debate this past week.
"Canadians need to understand that we're not just in a healthcare emergency, we're in a very serious economic crisis," states Cross.
Cross warns that Canadians will be facing a number of obstacles to recovery, such as a worsening job market, a rapid economic recession in an extremely short time frame, and declining prices. Cross also goes on to warn that Ottawa will face a significant challenge in moving away from CERB in the coming months.