Talk of the Town by Mayor Allan Thompson — Spring is welcomed back to Caledon

May 5, 2016 · 0 Comments

Last Thursday, Finance Canada released the Fiscal Monitor — February 2016.
The monitor shows that the federal government had a $7.5 surplus as of February, for the fiscal year 2015-2016. Finance Minister Bill Morneau said in his budget that there would be a $5.4 billion deficit for the fiscal year 2015-2016. This means that the Liberals ran a $13 billion deficit in March 2016 alone.
Finance Canada has once again confirmed that the Conservative government left the Liberals with a balanced budget.
The Conservative Party balanced the budget while keeping taxes low for hardworking Canadian families and growing the Canadian economy.
The Finance Minister’s own budget forecasts confirm that the Liberals ran a $13 billion deficit in March 2016 alone.
The Liberal government needs to come clean with Canadians and tell the public what this money was spent on.
This is yet another example that the Liberal numbers don’t add up.
Canadians cannot trust Finance Minister Bill Morneau to tell them the truth about the Liberals’ out-of-control spending. It just goes to show you, when it comes to taxpayer money, the Liberals just can’t spend enough of it.
The Conservative record is clear. We created jobs. During the worst economic downturn since the Great Recession, Canada had the best job creation and economic growth record among G7 countries.
We lowered taxes. We reduced taxes to their lowest point in 50 years, with a typical family of four saving almost $7,000 per year.
We balanced budgets. After running a targeted stimulus program that created and maintained approximately 200,000 jobs, we kept our promise to balance the budget and left the Liberals with a surplus.
The Liberal record is also clear. They are increasing taxes. Budget 2016 increased taxes on Canadian families and small businesses by cancelling the Children’s Fitness Tax Credit; cancelling the Children’s Art Tax Credit; keeping the small businesses tax rate at 10.5 per cent instead of lowering it to the scheduled nine per cent; and ending the hiring credit for small businesses.
They are obsessed with deficit spending.
Despite not being in a recession, the Liberals are borrowing billions of dollars and plunging the country into deficit to pay for their out-of-control spending. It’s up to the Liberals to explain what the discrepancy is.
This could be the largest end-of-year budget adjustment since Paul Martin’s Liberal government. Allan thompson