Trudeau gets little credit for boom: poll
Fears over deficit dampen outlook, new poll shows
Just days after the Liberals released their first “report card” — which claimed the federal government was doing a great job — Canadians have given their own less than flattering verdict.
Canada’s economy may be one of the strongest in the developed world this year, but Prime Minister Justin Trudeau’s government isn’t getting much credit.
A Nanos Research poll found just 25 per cent of Canadians describe Trudeau’s performance as an economic manager as good or better — fewer than other surveys suggest would currently vote for the Liberal leader.
Some 36 per cent rate his performance as poor or very poor, and another 36 per cent mark it as average.
“What this survey shows is that there is fundamental disconnect between the macroeconomic reality and micro opinion of Canadians,” pollster Nik Nanos said in an interview.
“For all intents and purposes, there’s quite a small minority of Canadians not concerned about housing and interest rates. It’s a large, dark cloud that looms over the psychology of Canadians.”
While the country is on pace to lead the G7 in growth with its strongest expansion since 2011, Canadians instead seem focused on rising interest rates and the deficit.
The results could reflect a deeper malaise for which Trudeau’s government may find no easy solutions: anxiety over housing affordability and growing piles of debt at a time when borrowing costs are rising.
Concern over debt loads could turn any interest rate increases by the Bank of Canada into a political headache for the Liberals.
Other highlights of the survey include:
40 per cent of respondents say reducing the deficit should be Trudeau’s top priority with a windfall generated by strong growth. Another 21 per cent call for spending on social programs, 19 per cent prioritize infrastructure spending and 18 per cent want tax cuts for individuals.
88 per cent are at least somewhat concerned about the price of housing.
84 per cent are at least somewhat concerned about the gap between Canada’s rich and poor, a key Trudeau economic theme.
81 per cent are at least somewhat concerned on the ability of Canadians to pay their mortgages and debts as interest rates rise.
Trudeau swept to power with lofty pledges on issues such as middle-class anxiety, the environment and progress for Indigenous Canadians. The poll results raise a question of whether the Liberals have set expectations too high, Nanos said.
“The Liberals were quite clever before they were in government in managing expectations” but have since created high expectations, the pollster said. “If they are not able to make headway after creating all those high expectations, that’s when they are going to run into political turbulence. The Liberals are saying all the right things but Canadians want them to do stuff.”
This year is shaping up to be the strongest for new housing starts in a decade. Excluding inflation, Canada’s economy grew by 4.2 per cent in the second quarter from a year earlier, a pace not seen since 2000. Employers added 312,700 jobs over that time.
On Tuesday, the Liberals released their mandate letter tracker which claimed that 66 of its commitments have been completed, 218 are on track, 13 are “underway with challenges,” three are not being pursued and 21 are ongoing commitments.
However, the independent website Trudeau Meter, which tracks election campaign promises, said of 226 promises made only 59 were kept, 72 were in progress, 59 had not been started and 36 had been broken.
THE LIBERALS ARE SAYING ALL THE RIGHT THINGS, BUT CANADIANS WANT THEM TO DO STUFF.