Chilliwack-Hope MP Mark Strahl noted the absence of concrete economic recovery planning in his response to the Trudeau Liberals’ economic and fiscal snapshot Wednesday.
Federal Finance Minister Bill Morneau tabled the government’s “snapshot” July 8 with confirmation that Canada’s deficit will balloon to $343.2 billion this year, and the net federal debt will be more than $1 trillion.
“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,” Strahl said in a release. “We didn’t get that today.”
His main criticism is the lack of any specific plan to help Canadians get back to work or to kick-start the economy.
“Under Justin Trudeau’s watch, Canada is falling behind,” the MP stated. “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 did not provide a five-year forecast.
The fiscal ‘snapshot’ also shows, a revenue loss of $71.1 billion this year, spending increases of $236.9 billion, and that the federal debt has increased to 49.1 per cent of GDP.
“Over the past five years, the Trudeau Liberals have completely abandoned their fiscal anchors,” Strahl said. “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 call on the Trudeau government to put forward a transparent plan to guide Canada’s recovery, concluded the MP.
Do you have something to add to this story, or something else we should report on? Email:
Want to support local journalism during the pandemic? Make a donation here.