June 18, 2020 / 9:50 PM / 24 days ago

Canada won't hike taxes to help pay for coronavirus aid programs - fin min

OTTAWA, June 18 (Reuters) - The Canadian government will not raise taxes at this time to help cover the cost of costly coronavirus aid programs, Finance Minister Bill Morneau told CTV on Thursday.

The Liberal government has so far unveiled measures worth more than C$160 billion ($117.7 billion) in direct spending, or around 7% of gross domestic product.

Analysts predict the budget deficit for the 2020/21 fiscal year is set to exceed C$250 billion, smashing previous records.

$1=1.3600 Canadian dollars Reporting by David Ljunggren; Editing by Sandra Maler

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