Poilievre held a rally at RBC Place London just hours before he was to learn who he’ll be facing in the next federal election, which could be called as early as this week.
It was clear from Poilievre’s remarks to a crowd of about 2,500 supporters that he believes his opponent will be Mark Carney, the former governor of the Bank of Canada who served as an economic advisor to Prime Minister Justin Trudeau.
View attachment 27976(No mention was made of the other three candidates: Chrystia Freeland, Karina Gould and Frank Baylis)
Carney claims three more years of deficit to invest in growing the Canadian economy, and then we’ll get right back to balance. If Mark Carney’s
pledge sounds like something you’ve heard before, that’s because Justin Trudeau made a very similar commitment a mere
ten years ago.
We spent a ton of money and ran up debt at record rates under the Liberals to get our economy growing again. This year alone, the federal government expects to spend $48.3 billion more than it collects in revenues. Meanwhile, Canadians are still waiting patiently for that return to balanced budgets.
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When the Trudeau government came into office at the end of 2015, our economy was producing
$57,491 per person (in 2017 dollars). Today, nine years later, our economy is producing
$58,951 per person (in those same 2017 dollars).
Boiled down, this means that Canadians are now a whopping 2.5 per cent richer, on average, then when Trudeau took office almost ten years ago. Wow. It would seem that the promised growth, much like the return to balanced budgets, somehow failed to materialize.
Have costs for pretty much everything increased in the last 10 years, including the carbon tax, which is…a tax on everything? While the government attempted to stimulate growth artificially by borrowing and spending money, tax hikes and new bureaucratic and regulatory hurdles countervailed this by slowing down private investment.
When we account for inflation, we find that the level of
investment per
person across all sectors of the economy (excepting the public sector) has fallen by 8%.
Just three more years of deficit to invest in growing the Canadian economy, and then we’ll get right back to balance. If Mark Carney’s pledge sounds like something you’ve heard before, that’s because Justin Trudeau made a very similar commitment a mere ten years ago. To refresh your memory...
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While Mark Carney may use different words to promote them, his plans to grow Canada’s economy with government spending and deficits are eerily similar to those put forward ten years earlier by the very prime minister he is now hoping to “replace.”
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