The Liberal Party’s platform is being criticized for its “reckless spending and lack of a plan to balance the budget” by the Canadian Taxpayers Federation (CTF)..The platform – which does not include a plan to balance the budget – projects the debt to GDP ratio to tick down from 48.5% to 46.5% by 2026..“All we’re hearing from the Liberals is more borrowing, but not a peep about balancing the budget and reining in spending,” said Franco Terrazzano, Federal Director with the CTF..“In 2015, the Liberals told Canadians they would balance the budget in 2019, but they kept running deficits. With this plan, it’s a good bet the Liberals will never balance the budget.”.Canada has the fifth highest gross debt to GDP ratio among 29 industrialized countries, according to the International Monetary Fund..The Parliamentary Budget Officer projected deficits until 2070 on the Trudeau government’s trajectory, says the Federation, adding that debt interest charges would cost Canadians $3.8 trillion by 2070 if that were to happen..“The Liberals want to spend more on everything, but there’s no plan to repair our national finances and chip away at the $1-trillion federal debt,” said Terrazzano..“The Liberals are doing nothing to get off the runaway spending train and that’s reckless.”.The CTF also had words for Erin O’Toole’s failure to provide any plan for a return to balanced budgets..O’Toole re-released his promise to balance the budget over a decade, but declined to provide any numbers as to how he would achieve it..Reid Small is a BC correspondent for the Western Standard.,rsmall@westernstandardonline.com,.Twitter.com/reidsmall
The Liberal Party’s platform is being criticized for its “reckless spending and lack of a plan to balance the budget” by the Canadian Taxpayers Federation (CTF)..The platform – which does not include a plan to balance the budget – projects the debt to GDP ratio to tick down from 48.5% to 46.5% by 2026..“All we’re hearing from the Liberals is more borrowing, but not a peep about balancing the budget and reining in spending,” said Franco Terrazzano, Federal Director with the CTF..“In 2015, the Liberals told Canadians they would balance the budget in 2019, but they kept running deficits. With this plan, it’s a good bet the Liberals will never balance the budget.”.Canada has the fifth highest gross debt to GDP ratio among 29 industrialized countries, according to the International Monetary Fund..The Parliamentary Budget Officer projected deficits until 2070 on the Trudeau government’s trajectory, says the Federation, adding that debt interest charges would cost Canadians $3.8 trillion by 2070 if that were to happen..“The Liberals want to spend more on everything, but there’s no plan to repair our national finances and chip away at the $1-trillion federal debt,” said Terrazzano..“The Liberals are doing nothing to get off the runaway spending train and that’s reckless.”.The CTF also had words for Erin O’Toole’s failure to provide any plan for a return to balanced budgets..O’Toole re-released his promise to balance the budget over a decade, but declined to provide any numbers as to how he would achieve it..Reid Small is a BC correspondent for the Western Standard.,rsmall@westernstandardonline.com,.Twitter.com/reidsmall
