OTTAWA, ON: The Canadian Taxpayers Federation is calling on Federal Finance Minister Chrystia Freeland to balance the books and provide tax relief when she tables Budget 2023 on Mar. 28.
“Freeland could balance the budget and provide tax relief with modest spending restraint,” said Terrazzano. “A balanced budget means less debt for Canadian kids and grandkids to pay back, less money wasted on interest charges and room to cut taxes.”
Today, Freeland announced the federal budget will be tabled on Mar. 28.
The CTF’s pre-budget submission recommends balancing the budget in 2023-24 by bringing program spending to pre-pandemic levels in 2018-19, adjusted upward for inflation and population growth. The federal government was spending all-time highs before the pandemic in 2018-19.
The Parliamentary Budget Officer’s recent Economic and Fiscal Outlook projects the deficit to increase to $43 billion in 2023. The PBO is also projecting an $8.7-billion deficit in 2027, despite the government’s claim in the mid-year fiscal update that it will run a $4.5-billion surplus that year.
A Leger poll shows 74 per cent of Canadians feel the average family is overtaxed.
“Canadians pay too much tax because the government wastes too much money,” said Terrazzano. “Canadians are struggling to fill their cars with gasoline and pay for ground beef at the grocery store because Ottawa is spending like crazy and raising taxes.”
The CTF testified at the House of Commons and Senate finance committees to outline a plan to balance the budget. You can watch the CTF’s presentation at the House of Commons committee here. You can watch the CTF’s presentation at the Senate committee here.
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