TORONTO — Pierre Poilievre’s Conservatives have released their costed platform, which includes $34 billion in new spending over four years — and slashing the Liberals’ deficit by 70%.
The Tories’ 2025 election platform will cut $75 billion in taxes over four years, funded by $56 billion in spending reductions, Poilievre told reporters at a press conference in Woodbridge, ON (North Toronto) on Tuesday.
Liberal leader Mark Carney on Saturday released his party’s costed platform, which amounts to $130 billion in new spending. A Tory government “over the next four years” will save Canada $125 billion compared to Mark Carney.
Poilievre pointed to a study from the Privy Council Office that states people “may lose faith in the Canadian project” and emigrate to more prosperous regions.
Further, with the staggering rise in the cost of groceries, Canadians might have to resort to “fishing, hunting and foraging for food” on public lands, said Poilievre, reading verbatim from the government report.
Poilievre said his party’s commitment to unlocking resources, building homes and accelerating infrastructure projects will result in “rocket fuel” economic growth that will generate more than $21 billion annually by fiscal year 2027–2028.
He reaffirmed his commitment to cut the middle-income tax bracket by 15% and the GST on new homes under $1.3 million, and even promised to “never hike taxes” while the Conservatives are in government under a Taxpayer Protection Act. The Act will “ban new or higher federal taxes without asking taxpayers first in a referendum.”
To start, the Tories will “cut $10 billion annually,” and “hire two for every three people who retire” from the public service.
“I will think of it as my mother’s money,” said Poilievre, adding that if his mother wouldn’t agree with her retirement savings to be spent in a certain way, he won’t do it.
Poilievre said his government would save money by ending funding for the CBC (but not for the French-language Radio-Canada) and cut foreign aid by one-third, with $1.3 billion in cuts in 2025–26, and more than doubling those cuts, $2.8 billion, by 2028–2029.
“Every dollar of spending will be met with $1.50 in savings,” said Poilievre, noting there will be “less spending on bureaucracy, consultants, foreign aid and handouts to insiders and special interests.”
“Families are paying $10,000 more in tax than they did before the Liberals were first elected. Groceries cost $800 more than they did last year and will go up another $400 a year under Mark Carney’s planned food tax,” said Poilievre.
“Violent crime has increased by 50%, and our once-safe towns and cities are suffering from chaos and disorder.”
“Canadians can’t afford a fourth Liberal term under Mark Carney, who is doubling down on the Trudeau record and promising $130 billion in new inflationary spending. This disastrous Liberal platform was ready before Mark Carney even became Liberal leader and will drive up taxes, food and housing costs even higher.”
Liberal candidate François-Philippe Champagne, on Tuesday said, “Today, Pierre Poilievre proved that he has no plan to meet this consequential moment, stand up to President Trump, or grow the Canadian economy.”
“Pierre Poilievre put forward the same tired ideas he’s been peddling for years: more cuts, more division, more chaos,” wrote Champagne in a statement.
“Pierre Poilievre’s platform is just another way he’s following President Trump’s playbook,” he said, claiming Carney’s plan will “build the fastest growing economy in the G7.”
The Canadian Taxpayers Federation issued a statement applauding the Conservatives’ platform.
“The best way to help Canadians is by cutting taxes and leaving more money in their pockets,” said Carson Binda, CTF BC Director.
“Poilievre’s platform offers sweeping tax cuts to save Canadians money.”
“These tax cuts come with a guarantee to hold a referendum before any new tax increases. That’s a great promise which would stop government from dipping into your pockets on a whim.”
“The Conservative platform shows a commitment to both meaningful tax reduction while reining in wasteful spending, but it doesn’t go far enough,” said Devin Drover, CTF Atlantic Director.
“While families tighten their belts, politicians need to stop borrowing money we can’t afford and wasting billions on interest payments.”
“Under the Conservative plan, taxpayers would save $2.4 billion in interest payments over the next four years versus the Liberal platform. The total budget deficit would be $31.4 billion in 2025 and go down to $14.2 billion by 2029.”
