Planning Ahead. The pandemic will end at some point, vaccines developed and then what? Before coronavirus almost every gov was in structural deficit, some worst than others. Conservatives were talking or enacting expenditure cuts, more progressive govs were talking growing

our way out of it and talking up the low borrowing costs.
Everyone during pandemic believes they have made financial sacrifices and will be looking to recoup. This will not happen.
We are not going to hav V recovery, long slow process that will not replenish either gov or

personal coffers. Expenditure cuts will be mostly off table for ops since it would be akin to draining a desert.
Instead, I look for the largest tax increases we have seen in my lifetime. New income brackets with higher rates. Corporate tax as well
The impetus will be also on

tax reform. Major rethinking of the tax code, simplification and maybe even see universal basic income.
Tax loopholes will be shut and a much more vigorous effort by govs to get tax cheats. Tax havens closed where possible.
Rich will pay more,capital gains taxed more.
Carry on

Add HST in there.
Now Canada is in relatively good shape other than the long run implications of our energy sector look bad.
The world is awash in debt, pressure on Banks, world finance redux a la crisis. This will be time for Canada to understand its privilege and fight foreign

aid cuts. Rich countries need to help.