The Trudeau government has a terrible track record with budgets, their housing and affordability programs aren’t effective, and the average Canadian is paying the price. After nine years of Trudeau budgets, we’re poorer, and the middle class is disappearing.
After 9 years of out-of-control spending, adding more to Canada’s debt than all other Prime Ministers combined, and the non-stop hiking of taxes, Trudeau’s latest budget is just more of the same that got us into this mess. Despite forcing the Bank of Canada to raise interest rates ten times in a row and hold them at the highest levels in decades, he didn’t reign in spending. Even though the interest payments on his debt ($54.1 Billion) will be more money than the government is sending the provinces for health care, he did not stop his inflationary spending. This is now endangering our social programs and jobs – sky-high interest rates not only threaten your mortgage or car loan, but they also make it harder to pay off our national debt.
It’s not just Conservatives that the Trudeau Liberals are flagrantly ignoring warnings and calls for fiscal responsibility. Economists and fiscal pundits from across the country are giving this budget a massive failing grade. Even prominent Liberals have openly criticized this budget. Former Liberal Deputy Finance Minister and Governor of the Bank of Canada, David Dodge, said he believes that this budget will be the worst budget since 1982. Former Liberal Finance Minister, Bill Morneau, said this budget was a threat to business investment in Canada as well as economic growth.
This isn’t the first time this has happened. Both the Bank of Canada and former Liberal Finance Minister, John Manley, have told Trudeau that he was pressing on the inflationary gas pedal with his spending that ballooned interest rates.
The results have spoken for themselves. Under his watch, rent, mortgage payments and down payments have all doubled since he was elected in 2015.
Food banks received a record two million visits in a single month last year, with a million additional people expected in 2024.
While life has gotten worse for Canadians, the Trudeau Liberals are spending more than ever before, with nearly $40 billion in new inflationary spending set for this year. And worst of all, who pays for all this? You do. Bankers and bondholders are the ones who benefit when the government spends more and keeps inflation and interest rates high. But struggling families can’t afford higher taxes and the cost of everything being continually driven up so high.
That is why my Conservative colleagues and I have voted non-confidence in this budget and this government. Only common sense Conservatives have a plan to fix the budget, which you can see on the next page. For too many Canadians, a return to common sense can’t come soon enough.