• Taxpayers Federation Lays out Case for Full Budget in Letter to Finance Minister
• CTF States: Even Before September 11th, A Budget was Needed
• CTF Says Martin must show "Fiscal Leadership"

Letter

OTTAWA: The Canadian Taxpayers Federation (CTF) has written a detailed three-page letter to Finance Minister Paul Martin imploring him to table a full Budget document this November.

Written by CTF federal director Walter Robinson, the letter points out that the U.S. prime rate has been cut by some 350 basis points since the beginning of the year and the Bank of Canada rate has been cut by 225 basis points over this same period.

"Our letter is very clear. Major banks are now predicting a recession, Canadian productivity growth is lagging behind that of the Americans and our government is poised to wipe out this year's project $7.2 billion surplus - if it hasn't already - with previous unbudgeted program spending and now the new measures to fight the war on terrorism," stated CTF federal director Walter Robinson. "Tabling a budget is not really an option for Minister Martin, it is an outright necessity."

In his letter to the Finance Minister, Robinson states:

Minister we have enjoyed a productive working relationship over the past four years. But allow me to be blunt. Your plans for an Economic Update on October 29th are insufficient given the current economic climate. Canadians will not stand for a glitzy, dog-and-pony, PowerPoint driven, public relations exercise.

Instead, you should take the time, gather the data and plan to present a full Budget document in early to mid-November. Canada faces an unprecedented fiscal situation and such times call for leadership. You can and you must show fiscal leadership by tabling a full Budget.

And the CTF makes it very clear as to the perception that will be left with Canadians should the Minister refuse to table a budget and face the reality of our current economic situation:

Anything less will be considered by the CTF as a blatant exhibition of contempt for Parliament and Canadian taxpayers. I trust that you will agree with sentiment of unparalleled concern and sense of urgency that this letter conveys.