Taxpayers Federation calls for balanced budget, spending cuts

Author: Franco Terrazzano 2024/04/15

OTTAWA, ON: The Canadian Taxpayers Federation is looking for a balanced budget and spending reduction in tomorrow’s federal budget.

“We haven’t seen one iota of fiscal responsibility from the Trudeau government, so hopefully Budget 2024 changes course,” said Franco Terrazzano, CTF Federal Director. “In Budget 2024, Prime Minister Justin Trudeau must show Canadians he cares about the state of the country’s finances and balance the books.”

The CTF’s pre-budget submission recommends the federal government balance the budget by reducing spending. 

The Parliamentary Budget Officer is forecasting a $41-billion deficit this year. The government has no plan to balance the budget. 

The PBO also projects interest charges on the debt will cost taxpayers $52.1 billion this year. That’s equal to the amount the federal government sends to the provinces through health transfers. In 2028, interest charges will cost $62 billion, which is more than the government expects to collect through its GST.

“A balanced budget means less debt for Canadians’ kids and grandkids to pay back, less money wasted on interest charges and more room to provide tax relief,” Terrazzano said. “In Budget 2024, Trudeau needs to put down the credit card and pick up the scissors.”

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Franco Terrazzano
Federal Director at
Canadian Taxpayers

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