Trudeau & Freeland’s Low-Growth, High Debt Plan Will Cripple Canada’s Economy
The consequences for hard-working Canadians will be immense if the Liberals impose their radical schemes.
Canada is at an historic inflection point.
We can take the path of rewarding work, unleashing our energy sector, bringing back Canadian manufacturing, and growing our economy, or we can take the path of punishing work, crippling the energy sector, destroying Canadian manufacturing, and making growth nearly impossible.
Reading that, you – and all common sense Canadians – can see that the first path is best.
Yet, unlike us, the Trudeau Liberals aren’t using common-sense.
Instead, they’re picking the second path, and the consequences could be disastrous.
In a recent column, John Ivison noted that among Finance Department officials, there is growing fear about Trudeau’s spending plans:
“With Trudeau and Freeland apparently simpatico on the plan to “build back better”, concerns about affordability at Finance have been trampled. “They are fiscally conscious people but they have thrown up their hands and said, ‘How much do you want to spend.’ There is a state of discouragement that I haven’t seen in 25 years in Ottawa,” said one senior bureaucrat.”
“The concerns are not just with the size of the spending package being considered but with the nature of it.
Senior business Liberals, who advocated deficit spending in 2015, say the focus should now be on economic growth, rather than the redistribution of borrowed money.
“The lack of focus on growth is problematic,” said Robert Asselin, a senior vice-president at the Business Council of Canada, who was previously an advisor to prime ministers Paul Martin and Trudeau.”
“Esteemed voices like former Bank of Canada governor, David Dodge, and ex-TD Bank chief economist, Don Drummond, have warned that far from being “a fabulous opportunity” (in Freeland’s words), more social spending would leave Canada vulnerable to future increases in interest rates and inflation.
Both economists lived through the debt crisis of the mid-1990s, when many of the politicians and advisors around the table today were still under-graduates.”
Considering how polarized politics are today, if even some Liberals and Finance Department officials are expressing this level of concern, you can only imagine how bad Trudeau & Freeland’s plans really are.
We have not seen this before at the national level in Canada.
Even in times of big spending, there was at least an acknowledgment that some basic pillars of the economy, the energy sector, manufacturing, the incentive to actually work and produce, must remain in place.
Now, the Liberals are hell-bent on demolishing those pillars all at the same time, while raising spending to massively high levels.
In short, they will be simultaneously crippling our ability to grow the economy, pushing jobs and investment to foreign countries, making us more dependent on things produced in foreign countries, bringing in huge numbers of new people every year through increased immigration, making life more expensive, and creating a huge disincentive to work, all while piling up so much debt that it will eat away at our ability to fund social programs.
What we are witnessing is a government putting a radical ideology into practice, betraying Canadians and crippling our economy. The damage this will do is massive, and the Liberals must be stopped.