Politicians, Get Ready for a Fight

Politicians, Get Ready for a Fight

March 9, 2021

To be a federal politician now could be the best of times, or the worst of times.

Our leaders have some turbulent waters to navigate in the aftermath of COVID-19.

The first order of business will be to restart our economy. That will require spending in the magnitude not seen in our history.

Then the attention will shift to managing our country’s bulging debt, including creative ways to reduce the debt. That could entail putting the brakes on spending.

That’s the challenge. We need to spend. And then we need to stop spending.

These first two challenges will start to pit different segments of our population against each other.

The next level of discourse will escalate. How do we bridge the gap between the haves and have nots of our peaceful and united country?

All Canadians contribute to the fabric of our country. As a nation we are respectful and by the most part considerate of others.

That is true. But now we are down to money and that’s where great divide can occur.

There is a political minefield because of the significant disparity between different segments of our country.

Government workers will continue receiving their salary and pensions. Some in business have enjoyed unprecedented opportunities and are thriving.

Others are financially devastated.

These include small business owners that have lost their business, their livelihood and potentially their house and other assets because those were pledged as securities for business loans.

Others have seen their employer go out of business or shifts towards a new economy that has left them unemployed or unemployable.

The pandemic was difficult. Our recovery might be more so.

 Peter Watson, of Watson Investments MBA, CFP®, R.F.P., CIM®, FCSI offers a weekly financial planning column, Dollars & Sense. He can be contacted through www.watsoninvestments.com

Watson Investments
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