Saskatoon West MP Brad Redekopp is not impressed after the federal Finance Minister confirmed that the Liberals are are running a deficit of $343.2 billion this year, and for the first time the net federal debt will reach over $1 trillion this year. Unlike in previous years, the government refused to provide at least a 5-year forecast.
“Justin Trudeau has no plan to help Canadians get back to work or to restart our economy. Under Justin Trudeau, Canada is falling behind. Canada has the highest unemployment in the G7; we are the only G7 country to lose its AAA credit rating, and; we are the only G7 country without a recovery plan.”
The ‘snapshot’ also shows, for this year alone, a revenue loss of $71.1 billion, spending increases of $236.9 billion, and that the federal debt has increased to 49.1 per cent of GDP.
“We expected the Finance Minister would present Canadians with a clear, transparent economic recovery plan. Instead, he bragged about how Canada’s COVID-19 emergency response was the most expensive in the G-7; yet somehow he forgot to mention how he does not have a plan to restart our economy.”
Since the pandemic began, Conservatives have been putting forward constructive solutions to help Canadians. The goal has been, and continues to be, to help get workers and local businesses back on their feet as quickly as possible. The economic recovery will be driven by Canadians’ hard work, innovation and entrepreneurial spirit.