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New Ontario Finance Minister Peter Bethlenfalvy "Laser-Focused" on Economic Recovery
Peter Bethlenfalvy, the new finance minister of Ontario, believes there’s hope for a strong economic recovery from the COVID-19 pandemic. He spoke about his plans and expectations in an interview.
"I’m very optimistic about not only the rollout but getting this economy back on its feet and stronger than before, both from a health point of view and from a business point of view—those things are linked," Bethlenfalvy said.
Bethlenfalvy emphasized the importance of cooperation between the federal government, provinces, and municipalities in combating the pandemic’s economic and health effects. He has already been in contact with his federal counterpart, Chrystia Freeland, who is also relatively new to the finance portfolio.
"I’m very confident we will have a very constructive working relationship," Bethlenfalvy said. "It’s essential that the federal government and the provincial government and municipal levels of government work together, and that’s exactly what’s been occurring, and I think that’s critical."
The finance minister also addressed concerns about the rollout of COVID-19 vaccines, which some have criticized as being too slow. Bethlenfalvy believes the vaccine will provide a "shot in the arm" to public health and ultimately the economy.
"I think there’s hope," he said.
Trevin Stratton, chief economist at the Canadian Chamber of Commerce, agrees that a cohesive national response to the pandemic is needed. He recommends a data-driven, science-based approach that includes widespread rapid testing and contact tracing, open communications, and consistent messaging.
"Governments must make a priority of generating and sharing timely data about how and where the disease is spreading, and design their policies based on that data," Stratton said. "Their actions must be timely, targeted, and effective."
Bethlenfalvy’s appointment comes after the resignation of his predecessor, Rod Phillips, who took a Caribbean vacation during the pandemic despite government advice to stay close to home.
Sources
- Postmedia News
- Canadian Chamber of Commerce