CTF releases federal pre-budget submission
- Balanced budget, debt reduction, axing carbon tax, ending corporate welfare among CTF recommendations
OTTAWA, ON: The Canadian Taxpayers Federation (CTF) today released its 2018 pre-budget submission to the federal government.
The CTF is calling on the Trudeau government to return to a balanced budget, pay down federal debt, abandon its ill-advised carbon tax and put an end to corporate welfare spending.
“The Liberals campaigned on ‘modest’ deficits leading to $25 billion in new debt," said Wudrick, “Instead, we’re on track for at least $80 billion in additional debt, with absolutely no plan to get back to balance. This government needs to put forward a plan to get back to balance and start reducing the debt load on future generations."
As of 2018, Canada's federal debt stands at $649 billion with interest payments in the last year alone costing Canadians taxpayers approximately $26 billion (which is more than the government spent on National Defence). Since 1990, Canadians have spent more than $1.3 trillion dollars on paying interest on public debt.
In addition to balanced budgets and debt repayment, the CTF eleven-point submission calls for:
- Ending "tax-on-tax" double taxation for goods such as gasoline
- Ending all spending on corporate welfare and “regional development”
- Axing the federal carbon tax
- No new taxes on small business
- Repealing the escalator tax on alcohol
- Resisting any demands for new sugar or fat taxes;
- Passing a Truth in Budgeting Act
- Undertaking a core spending review to identify $14 billion in waste by 2019-20
- Controlling government sector pay and benefits
- Major reform of Canada's Employment Insurance system
The CTF's 2018 federal pre-budget