The Trudeau Liberals, after weeks of leaving Canadians in suspense, boasted about what they call a successful upcoming economic update, despite weeks delaying its release. Finance Minister Chrystia Freeland is expected to release the Fall Economic Statement on December 16 — it's normally made available by October or November. Justice Minister Arif Virani during Question Period on Monday told the Commons, "I anticipate you'll hear about the economic record that we've amassed."He boasted about $10 a day daycare and how it ushered 110,000 women away from their families and into the workforce. The Liberals have "amassed a lot of debt," retorted Tory leader Pierre Poilievre, detailing how the Liberals have surpassed the economic "guardrail" and is approaching "a cliff." .The Canadian Taxpayers Federation is calling on the federal government to cut spending and provide a plan to balance the budget ahead of its Fall Economic Statement. “Interest charges on the federal credit card now cost taxpayers more than $1 billion every week,” said Franco Terrazzano, CTF Federal Director. “Every dollar the government takes from the GST now goes to paying interest on the federal debt.“Enough is enough, taxpayers can’t afford to pay higher taxes and debt interest charges to bankroll this government’s borrowing binge.”The CTF said Budget 2024 projects a deficit of $39.8 billion this year. However, an October report from the Parliamentary Budget Officer projects this year’s budget deficit at $46.4 billion.The federal government’s debt is expected to pass $1.25 trillion this year, which is more than double where it stood when Prime Minister Justin Trudeau formed government in 2015, said the CTF in a statement.“If the government doesn’t cut spending and provide a real plan to balance the budget in the Fall Economic Statement, it will be more proof this government isn’t serious about financial responsibility,” Terrazzano said. “The government has tried out-of-control spending and runaway deficits and it’s not making Canadians’ lives better, so it’s time for a different approach.“It’s time for the government to put down the credit card and pick up some scissors.”
