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MNI: Canada Boosting Health Spending CAD46.2B Over 10 Years

(MNI) OTTAWA
OTTAWA (MNI)
Bank of CanadaPolicy NewsCentral Bank NewsHomepageCanadaFiscalGovernment sector Bank of Canada Market NewsBriefPolicy StoryPolitical RiskStoryRegionNorth America

Canada will boost healthcare spending by an extra CAD46.2 billion over 10 years on top of currently legislated increases that take the total package to CAD196 billion, Prime Minister Justin Trudeau said, just days after pledging to avoid new outlays that make the Bank of Canada's inflation fight more difficult.

Trudeau announced the plan Tuesday after meeting with leaders of provincial governments who are responsible for running the public health system. The extra money includes an immediate CAD2 billion top-up. Experts have told MNI loose fiscal policy is likely to make it harder for the Bank to cut interest rates this year. (See: MNI INTERVIEW: Deficit Means Little Scope For BOC Cut- Asselin)

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Canada will boost healthcare spending by an extra CAD46.2 billion over 10 years on top of currently legislated increases that take the total package to CAD196 billion, Prime Minister Justin Trudeau said, just days after pledging to avoid new outlays that make the Bank of Canada's inflation fight more difficult.

Trudeau announced the plan Tuesday after meeting with leaders of provincial governments who are responsible for running the public health system. The extra money includes an immediate CAD2 billion top-up. Experts have told MNI loose fiscal policy is likely to make it harder for the Bank to cut interest rates this year. (See: MNI INTERVIEW: Deficit Means Little Scope For BOC Cut- Asselin)