In the past two months, the Bank of Canada has tripled the size of its balance sheet to almost $400 billion, with more to come, Mr. Chair. In the 2008 recession, the world's major economies endured quantitative easing on a previously unknown scale, most of which has not since been unwound. Canada endured a then-record $50-billion deficit, but we did not need to enter the uncertain world of QE, quantitative easing, as a result of the strength of Canada's oil and gas industry. Will the minister acknowledge that this government's oil and gas policy mismanagement has led to economic decline, necessitating hundreds of billions of dollars of quantitative easing?
On May 13th, 2020. See this statement in context.