OTTAWA, ON: The Canadian Taxpayers Federation (CTF) delivered a pair of oversized scissors to Finance Canada today to encourage Finance Minister Bill Morneau to start cutting spending.
“In 2015, the Trudeau Liberals ran on a platform of three ‘small’ deficits before returning to balance. If they had stuck to their own plan, they would have added $24 billion to the federal debt before presenting a balanced budget next spring,” said CTF Federal Director Aaron Wudrick. “Instead, they’ve already added $57 billion in debt and are on track to add another $49 billion by 2023, for a total of $106 billion – more than quadruple the debt they promised – with still no plan to balance the budget.”
Wudrick noted that with the Fall Economic Statement expected within weeks, Morneau may also want to take a look at cutting red tape and taxes to help bolster Canada’s economic competitiveness.
“Business tax cuts south of the border have erased a key competitive advantage for Canada,” said Wudrick. “Carbon taxes will make things worse. Meanwhile, the regulatory obstacles faced by projects like the Trans Mountain pipeline expansion send a terrible signal to prospective investors.”
“The bottom line is that this government is living beyond its means and sticking our children and grandchildren with the bill. We’re happy to give Minister Morneau these giant scissors to keep in his office as a daily reminder of the most important task ahead of him.”
To see an infographic comparing the Liberal platform deficit promises with actual budget figures, please click HERE
To see an infographic comparing Liberal platform debt and actual debt being incurred, please click HERE
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