Well, today is the Liberal/NDP Non-Coalition Coalition Budget Day!

Ron in Regina

"Voice of the West" Party
Apr 9, 2008
29,011
10,963
113
Regina, Saskatchewan
Well, it’s not budget day, or week, or month, or season, yet, still.
(YouTube & Carney says he’ll ’take note’ of successful motion demanding spring budget)
1749014794539.jpeg
Is that…Alfred E Newman?
 
  • Like
Reactions: petros

Ron in Regina

"Voice of the West" Party
Apr 9, 2008
29,011
10,963
113
Regina, Saskatchewan
1750891987345.jpeg
In a keynote address to the Toronto Region Board of Trade, Tim Hodgson issued a call to action to business leaders to “bring your best ideas forward” as the country attempts to retool the economy like it did at the end of the Second World War.

Hearkening back to a time when Canada faced “such a transformational upheaval of the world order,” Hodgson reminded the room that eight decades ago, instead of hesitating like the dumpster fire of the last decade, Canadians came together to do great things.

The “One Canadian Economy Act” passed parliament last week and is awaiting first reading in the Senate. It must pass third reading before getting Royal Ascent and then becoming law -- a process that could happen this week as the Upper Chamber is expected to rise for the summer on Thursday or Friday.
 

Ron in Regina

"Voice of the West" Party
Apr 9, 2008
29,011
10,963
113
Regina, Saskatchewan
The Liberal government is sticking with its plan not to table a budget until at least the fall, so the eggheads at the C.D. Howe Institute took the liberty of doing it for them. They tallied up the government’s various new spending promises, estimated what tax revenue is going to look like for the foreseeable future, and concluded that Ottawa is on track to rack up $300 billion in new debt over the next four years, an average of about $75 billion per year (or, about $5 in new debt per Canadian, per day). And that’s under the most optimistic scenario. More likely is that it hits $350 billion.

This is way higher than any of the non-COVID spending charted under Prime Minister Justin Trudeau. Recall that it was only a few months ago that Trudeau was pressured into resigning in part due to shock that his government had allowed the deficit to swell to $62 billion. According to the C.D. Howe Institute, Canada is on a “troubling path.” “Adding $300 billion in federal debt while doing nothing to raise investment and productivity will make Canada more vulnerable, not less,” read the analysis. Oh well.
 
  • Like
Reactions: Taxslave2

petros

The Central Scrutinizer
Nov 21, 2008
117,209
14,249
113
Low Earth Orbit
The Liberal government is sticking with its plan not to table a budget until at least the fall, so the eggheads at the C.D. Howe Institute took the liberty of doing it for them. They tallied up the government’s various new spending promises, estimated what tax revenue is going to look like for the foreseeable future, and concluded that Ottawa is on track to rack up $300 billion in new debt over the next four years, an average of about $75 billion per year (or, about $5 in new debt per Canadian, per day). And that’s under the most optimistic scenario. More likely is that it hits $350 billion.

This is way higher than any of the non-COVID spending charted under Prime Minister Justin Trudeau. Recall that it was only a few months ago that Trudeau was pressured into resigning in part due to shock that his government had allowed the deficit to swell to $62 billion. According to the C.D. Howe Institute, Canada is on a “troubling path.” “Adding $300 billion in federal debt while doing nothing to raise investment and productivity will make Canada more vulnerable, not less,” read the analysis. Oh well.
Fortunately we can track the debt filing by filing. So far only $3.4B since April 1 but that's also the day we mail in our tax cheques.
 

Ron in Regina

"Voice of the West" Party
Apr 9, 2008
29,011
10,963
113
Regina, Saskatchewan
A new report from the C.D. Howe Institute concluded that the Trudeau government’s spending splurges played a major role in fuelling inflation during the pandemic. The report pointed the finger at Ottawa’s unfunded spending spree — more than the Bank of Canada’s monetary policies — that acted as “helicopter drops” of money for the private sector.

And not only do consumers pay higher prices but they must then pay again with the higher interest rates the central bank then implemented to try bringing those prices back down. In 2020, interest rates were down to 0.25 per cent as the Bank of Canada aimed to cushion the blow from the pandemic; by 2023, the rate had risen 20-fold, to five per cent.
 
  • Angry
Reactions: Taxslave2

Taxslave2

Senate Member
Aug 13, 2022
5,029
2,833
113
Kinda didn’t want interest rates to go up 20 fold, and crazy government spending leading to an inflationary crunch that we’re probably gonna be dealing with for years…but here we are.
Isn't that what you want? Money to the private sector?
Not tax money. All that was really required was policy changes that made it possible for business to operate. Not gobs of tax money to favoured businesses. Like giving Loblaws, one of the most profitable grocery chains in the country, taxpayers' money to improve their freezers.
 

Tecumsehsbones

Hall of Fame Member
Mar 18, 2013
60,162
9,435
113
Washington DC
Not tax money. All that was really required was policy changes that made it possible for business to operate. Not gobs of tax money to favoured businesses. Like giving Loblaws, one of the most profitable grocery chains in the country, taxpayers' money to improve their freezers.
Why mug customers when it's so much easier to have the politicians do it?