Commentary Spending promises from all of the major parties in the election have been pouring in hard and heavy. And with three weeks left in the campaign, we can expect proposed spending to reach even more staggering levels, as party leaders try to buy the electoral love of citizens. While the parties are long on expenditure promises, they are terribly short on details when it comes to how we are going to pay the bills. In response to the pandemic, Canada’s government has increased spending levels at a rate unseen outside of wartime periods. The federal deficit went from $21.77 billion in fiscal 2019/2020 to a breathtaking $314 billion in fiscal 2020/2021. No party has released a fully costed plan to balance the budget, so we have to draw interpretations from what they have said on the issue. The Liberals have said little on how they plan to balance the budget. …
Opinion: Major Parties’ Big-Spending Promises Mean Canada Won’t See Balanced Budget Any Time Soon
September 1, 2021
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