Canada’s public finances are in a disastrous state. Under the Trudeau Liberals, spending, deficits, and the national debt are exploding. Justin Trudeau exploited the covid crisis to create a whole series of expensive new programs in areas of provincial jurisdictions such as daycare and dental care. The Conservatives, NDP, Bloc and Greens all supported the Liberals’ massive covid spending and none of them is committed to reducing the size of government.
This is utterly irresponsible. Because of this fiscal profligacy, inflation and interest rates are at their highest level in decades. When another recession hits, the federal government will be in a precarious fiscal situation and could lose control of its finances. Moreover, no broad-based reduction in the tax burden will ever be possible with a government that keeps growing and paying for new programs with borrowed money.
A People's Party government will:
Reverse new spending programs announced by the Trudeau government.
Get rid of the deficit by the end of a first mandate through fiscal prudence and spending cuts, including corporate welfare, foreign development aid, CBC, equalization payments, and funding for programs which are provincial or municipal responsibilities.
Stop using our tax system for political ends and make it simpler and fairer. In particular, it will eliminate targeted tax measures that are inefficient and serve no compelling public policy purpose.
Cut personal income taxes, corporate taxes, and the personal capital gains tax after the deficit has been eliminated, over the course of several budgets, as the fiscal room is found to allow it.
.svg)
