Kamloops-Thompson-Cariboo MP Cathy McLeod says she was disappointed in the federal government’s Fall Economic Statement.
“The finance minister confirmed that the Liberals are borrowing $20 billion this year to pay for their out-of-control spending and that they are desperately hiking taxes to pay the bill,” said McLeod.
“They promised a small deficit of less than $10 billion. Today, it is more than double that.
“Furthermore, the economic statement confirmed that over the next seven years, the government will take on approximately $100 billion in new debt. This is despite significant tax increases by the federal government.”
McLeod says Prime Minister Justin Trudeau has and will continue to raise taxes on hydro, gasoline and home heating; health and dental benefits; employee discounts; personal savings; and lifesaving therapies.
“The Economic Statement has confirmed what many Canadians know to be true—the government has a spending problem,” said McLeod. “Since this government took office, 80 per cent of middle-class Canadians are paying more in taxes and this government still is unable to balance the books and continues to take on more and more debt.
“We all know that the economy is growing despite the government’s failed economic policies—not because of them.”
“The finance minister has officially projected that he will never balance the budget. Which begs the question, if you can’t balance the budget when the economy is doing well, when will you?” concluded McLeod.