‘Economic Collapse’: Pandemic Shutdown Wallops Canadian Economy

A sign on a store window in Ottawa on March 23, 2020. Most economists agree that many small businesses will not survive the shutdown to prevent the spread of COVID-19. The Canadian Press/Adrian Wyld

News Analysis

Most economists agree that a large number of small businesses will not survive the government-mandated shutdown to prevent the spread of COVID-19, and predict that businesses—and people—who do make it through the crisis will live with permanently higher taxes due to record-high government deficits.