Fall Eco­nomic Statement dis­con­cert­ing

Prairie Post (West Edition) - - Opinion -


Last week, the Lib­eral’s tabled their Fall Eco­nomic Statement.

The Fi­nance Min­is­ter con­firmed the Lib­er­als are bor­row­ing $18 bil­lion this year, and al­most $20 bil­lion next year, to pay for their out-of-con­trol spend­ing and they have no plan to bal­ance the bud­get. Ever.

The take away from this Lib­eral mini-bud­get is Trudeau’s deficits are mas­sive, con­tin­u­ing in­def­i­nitely with no plan bring Canada’s bud­get back to bal­ance. This year’s deficit is more than three times what Justin Trudeau said it would be and he has added $60 bil­lion in debt in just three years. Next year, the deficit will be even higher while the Lib­er­als plan is to con­tinue to spend ev­ery­one else’s hard-earned money.

A re­spon­si­ble gov­ern­ment would have paid down the debt when the econ­omy was per­form­ing. Rather, we see Trudeau spend­ing the cup­boards bare and forc­ing Cana­di­ans to pay for his reck­less spend­ing through higher taxes. The av­er­age Cana­dian mid­dle­class fam­ily is pay­ing $800 more in­come tax to­day than when Justin Trudeau took of­fice. That amount is be­fore con­sid­er­ing the cost of the Lib­er­als’ car­bon tax and their new pay­roll taxes. In other words, it is only go­ing to get worse.

The gov­ern­ment should be prepar­ing for a rainy day, in case of a fu­ture eco­nomic down­turn.

For ex­am­ple, a $10 re­duc­tion in the price of a bar­rel of oil hits the bud­get by more than $2 bil­lion.

Two weeks ago, Western Cana­dian Se­lect was trad­ing below $14 per bar­rel. Has this been taken into ac­count in the Fall Eco­nomic Statement? No.

I was proud to see fel­low Al­ber­tans flock to the streets in Cal­gary in sup­port of Canada’s en­ergy sec­tor.

These were not paid ac­tivists and pro­tes­tors but hard-work­ing men and women who rely on the jobs our world class nat­u­ral re­source in­dus­try cre­ates.

Canada is los­ing $80 mil­lion a day due to the crip­pling price dif­fer­en­tial be­tween Cana­dian and global oil prices. This is money we could be us­ing to build schools, hos­pi­tals, roads, af­ford­able hous­ing and sup­port vi­tal so­cial pro­grams.

In­stead, it is go­ing to fund those same projects in the United States.

The Lib­eral fis­cal up­date does noth­ing to ad­dress the un­prece­dented cri­sis fac­ing Canada’s oil and gas sec­tor, a cri­sis where we see the ram­i­fi­ca­tions es­pe­cially here in Al­berta. The Prime Min­is­ter can­celled two pipe­line projects that would have car­ried Cana­dian oil to new mar­kets in Europe and Asia. Rather than help­ing Canada’s en­ergy sec­tor, the Trudeau gov­ern­ment has in­tro­duced new taxes, bur­den­some reg­u­la­tions and the “No Pipe­line” Bill C69 as their ‘so­lu­tion’.

Not only have Lib­eral in­com­pe­tence and bad poli­cies chased away ma­jor pipe­line projects that would have cre­ated thou­sands of jobs and helped elim­i­nate the dev­as­tat­ing price dis­count on Cana­dian oil, this failed fis­cal up­date demon­strates there is no in­ten­tion by the Lib­eral’s to in­crease Canada’s com­pet­i­tive­ness on the global stage.

Trudeau should have low­ered busi­ness tax rates to en­hance our com­pet­i­tive­ness and boost in­vest­ment in the econ­omy, mir­ror­ing changes south of the boarder.

An in­abil­ity to at­tract in­vest­ment is a demon­stra­tion of Canada’s lack of com­pet­i­tive­ness. For­eign in­vest­ment in Canada is down 50.7 per cent since the Lib­er­als have taken of­fice.

While Trudeau keeps ask­ing Cana­di­ans to pay more, he leaves his fam­ily for­tune un­touched.

Con­ser­va­tives will al­ways be the voice of the tax­payer.

You can count on us to con­tinue fight­ing for hard­work­ing Cana­di­ans ev­ery step of the way. JOHN BAR­LOW, MP, FOOTHILLS

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