Economic “Update”


Today, the Minister of Finance tabled the 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.

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Conservatives understand that the economy is growing despite the Liberals, not because of them; that every penny over $10 billion in deficit spending is a broken promise; that Justin Trudeau is raising taxes on middle class Canadians to pay for his out-of-control spending; and that every time Justin Trudeau gives with one hand, he takes more with the other.

Our message:
– Conservatives believe in responsible government spending, lower taxes, and making life more affordable for every Canadian.

– The Liberals promised a small deficit of less than $10 billion. Today, it is more than DOUBLE that.

– Justin Trudeau promised balanced budgets by 2019. Today, his government officially projects he will NEVER balance the budget.

– Justin Trudeau is adding debt at twice the rate he promised and his government projects that debt will grow every year into the future.

The Justin Trudeau Liberals have and will continue to raise taxes on:
Hydro, gasoline and home heating
Health and dental benefits
Employee discounts
Personal savings
Lifesaving therapies
Local businesses

That’s why more than 80% of middle-class Canadians pay more tax today under Justin Trudeau.
For the last two years, Justin Trudeau has been giving with one hand and taking more with the other. Canadians cannot trust this Liberal Prime Minister to give them a tax break.
It is high tax hypocrisy for Justin Trudeau to force middle class Canadians to pay for his out-of-control spending, while his family fortune remains untouched.

When Justin Trudeau promises he won’t raise taxes on Canadians, Conservatives just don’t believe him, in spite of it all we will continue to fight the Liberals tax hikes every step of the way.
Justin Trudeau cannot attack local businesses one week, and then take credit for their accomplishments the next. We know that the economy is growing despite the Liberals, and not because of them.

In fact, the Parliamentary Budget Officer confirmed in August that the Liberals are failing to get funding for important infrastructure projects out the door: “Infrastructure Canada’s grants and contributions to provinces for infrastructure projects were essentially flat compared to last year (that is, the year before federal infrastructure stimulus was announced) […and] we estimate that about half of the overall budgeted federal infrastructure stimulus was actually spent in 2016-17.”

http://www.pbo-dpb.gc.ca/web/default/files/Documents/Reports/2017/EFM%20August%202017/EFM_August_2017_EN.pdf
Economic growth and job creation is a testament to the hard work of local Canadian businesses, not the tax and spend policies of Justin Trudeau.

BACKGROUND:

1. The government is proposing “to accelerate the indexation of the Canada Child Benefit (CCB) by two years, to July 2018 – which will provide an additional $5.6 billion in support to Canadian families over the next five years.”

2. The government is also proposing “to enhance the Working Income Tax Benefit (WITB) by $500 million per year starting in 2019 – in addition to the increase of $250 million annually already set to come into effect in that year as part of the enhancement of the Canada Pension Plan.” Further details will be provided in Budget 2018.

3. The government will be moving forward with their proposed small business tax rate cut (to 10% effective January 1, 2018 and to 9% effective January 1, 2019).

4. The government will move forward on “restricting income sprinkling by private corporations.” Revised draft legislative proposals will be released later this fall.

5. The government will move forward to “limit the benefit of investing passively in private corporations.” The details of the proposed rules will be released in Budget 2018.

6. The government will announce its National Housing Strategy this fall.