The risk of losing credibility is not immediate because we're in relatively good company in the league of countries that have deficits as far as the eye can see on the horizon, but it doesn't mean it will stay like that for most G7 countries. In the league of international comparison, Canada is the 11th lowest for net debt in 2020 among 29 advanced economies, and it's scheduled to be the 6th lowest, but that's as things stand now. It doesn't mean that future budgets won't have additional spending measures. In fact, in my opinion, that is very likely, so this will change, of course.
On April 27th, 2021. See this statement in context.