The Canadian Taxpayers Federation has created a plan to balance the federal budget in the next two years, instead of the projected 50 years projected by the Liberals..“Modest spending restraint could get the budget back to balance, but Prime Minister Justin Trudeau is using the cloud of the pandemic to go on a debt-fueled spending binge,” said Franco Terrazzano, Federal Director of the CTF, in a Monday release..“It’s time to stop racking up a bigger tax bill and balance the budget.”.The CTF outlined a proposed plan which would balance the federal budget in 2023-24, that was presented to the Standing Committee on Finance..CTF’s proposed balanced budget plan:.“The federal government could balance its budget in 2023 by returning to pre-pandemic spending, which was already at all-time highs,” said Terrazzano..“A balanced budget means less debt for Canadian kids and grandkids to pay back, less money wasted on interest charges and fewer tax hikes.”.The CTF’s pre-budget submission recommends balancing the budget in 2023-2024 by bringing program spending to pre-pandemic levels in 2018-2019, adjusted upward for inflation and population growth..The CTF said the federal government was spending at all-time highs before the pandemic, in 2018-2019. .Data from the Parliamentary Budget Officer shows that on Budget 2021’s trajectory, the federal government wouldn’t balance the budget until 2070, meaning debt interest costs would amount to $3.8 trillion..Ewa Sudyk is a reporter with the Western Standard.,.esudyk@westernstandardonline.com
