We didn't do a counterfactual because for the counterfactual the shock would have been so immense that I'm not sure our models would have been able to absorb all of that. The best alternative to a counterfactual would probably be trying to look at other similar countries that didn't provide the same level of support, if there are any, and I doubt that there are any that ran that very rough experiment. It's certain that there would have been very difficult situations for millions of Canadians, businesses and households had the government not provided support.
On March 18th, 2021. See this statement in context.