EN FR

Liberal platform must have a plan to balance the budget: Taxpayers Federation

Author: Franco Terrazzano 2021/08/30

OTTAWA, ON: The Canadian Taxpayers Federation is calling on the Liberal Party to include a plan to balance the budget following Leader Justin Trudeau’s comment that the party will be releasing its platform “in the coming days.”

“Canadians deserve to know if the Liberals will ever balance the budget,” said Franco Terrazzano, Federal Director with the CTF. “In 2015, the Liberals told Canadians that they would balance the budget in 2019, but they missed that by a country mile. Now the Parliamentary Budget Officer is projecting that we may not see a balanced budget for nearly five decades.”

The CTF is calling on the Liberal Party to include a plan to balance the budget as Trudeau today announcedthat the party’s platform will be out “in the coming days.” 

When running for prime minister in the 2015 election, Trudeau promised Canadians he would balance the budget in 2019. However, the feds won’t balance the budget until 2070 on the Trudeau government’s current trajectory, according to PBO data.

The Conservatives and New Democrats have already released their platform commitments.

The Conservative platform promises to balance the budget “within the next decade,” but doesn’t have a credible plan showing how it’s going to meet its budget target. The platform does not include costing analysis.

The NDP’s commitments include hikes to income taxes, business taxes, capital gains taxes, along with imposing a wealth tax, luxury tax, excess profits tax, foreign home-buyers tax and taxes on so-called internet giants. Despite these tax hikes, the NDP platform does not have any plan to balance the budget or pay down the $1-trillion federal debt.

“The Liberals are promising to spend money the government doesn’t have, but they still haven’t released any plan to balance the budget,” said Terrazzano. “After the unprecedented spending, taxpayers deserve to see politicians’ plans to stop borrowing money and start chipping away at the $1-trillion debt.”