financial assistance

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Trudeau government should cut strings on Ottawa’s ‘re-opening’ support

The Trudeau government plans to provide $14 billion in financial support for provincial governments across the country.

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Unlike individuals or companies, governments in Canada and elsewhere commonly self-insure against risk. This means rather than purchase insurance externally, most governments accept the risks and associated costs. While this can be the most effective way for government to manage day-to-day risk, as we have seen from recent earthquakes in Japan and New Zealand, catastrophic events are another matter altogether.