CHILLIWACK – Mark Strahl, Member of Parliament for Chilliwack—Hope is responding to Liberal Prime Minister Justin Trudeau and Finance Minister Bill Morneau’s Economic and Fiscal ‘Snapshot’.
Today, Finance Minister Morneau tabled the government’s Economic and Fiscal ‘Snapshot’. The Finance Minister confirmed that the Liberals are running a deficit of $343.2 billion this year, and for the first time the net federal debt will reach over $1 trillion this year.
“Conservatives supported the emergency benefits that Canadians needed to get through the early stages of this global pandemic, but now is the time for a clear, forward-looking plan that will transition us from emergency response to economic recovery,” said MP Strahl. “We didn’t get that today.”
“Justin Trudeau has no plan to help Canadians get back to work or to restart our economy, said MP Strahl. “Under Justin Trudeau’s watch, Canada is falling behind. We have the highest unemployment rate in the G7. We are the only G7 country to have lost its AAA credit rating and we are the only G7 country without a recovery plan.”
Unlike in previous years, the government refused to provide at least a 5-year forecast.
The ‘snapshot’ also shows, for this year alone, a revenue loss of $71.1 billion, spending increases of $236.9 billion, and that the federal debt has increased to 49.1 per cent of GDP.
The Liberal government has included an additional $15 million for the Deputy Prime Minister’s office budget but failed to include any new funding for the Auditor General’s Office to provide oversight of the government’s unprecedented spending.
“Over the past five years, the Trudeau Liberals have completely abandoned their fiscal anchors,” continued MP Strahl. “Today was an opportunity to reverse course and put Canadians first. Instead, Justin Trudeau once again put Liberals first.”
“Conservatives know that to be competitive, we need to unleash the power of the private sector. Help Canadians get back to work. Support small businesses. Lower taxes, cut red tape and make Canada an attractive place to do business once again.”
Conservatives will continue to fight to get the Canadians the help they need, and we will continue to call on the Trudeau government to put forward a transparent plan to guide Canada’s recovery,” concluded MP Strahl.