Manitoba premier calls on feds to act as intermediary for provincial borrowing plan

By | April 6, 2020

WINNIPEG — Manitoba’s premier is calling on the federal government to act as the intermediary and borrow funds on behalf of provincial governments and then loan it to them.

Premier Brian Pallister said Ottawa should coordinate the national emergency response.

“They can borrow at much lower rates, they can pass those savings on as a service to team Canada,” he said.

According to the province, Pallister has received support from all other premiers in a letter to Prime Minister Justin Trudeau.

“The COVID-19 pandemic has shut down Canada’s economy,” Pallister said, noting that governments are struggling to find money from other sources.

Pallister said this plan could save Manitobans in excess of $1 billion in the next ten years.

“This federal emergency reserve savings team concept would be the first of its kind in Canadian history,” he said. “A common sense, friendly Manitoba suggestion. Lower interest payments mean more money for healthcare, now and in the future and a lower burden on future generations too.”

Pallister made the announcement at a news conference on Monday morning.

To date, there are 203 cases of COVID-19 in Manitoba, both probable and lab-confirmed. There have also been two deaths.

This is a developing story, more details to come.

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