It has been a few months since I last commented on the Liberal budget, and i was pretty unimpressed then. Now The Business News Network (BNN) reports that TD Banks economists are waring that the cumulative deficit in this first (hopefully last) Trudeau term will be $16.5 worse that Finance Minister Bill Morneau forecast.
The Finance Minister is meeting with private sector advisors … they, like his own offcials, are going to tell him the same things:
- Your government cannot afford to continue to spend wildly;
- You’re sending hundreds of millions of dollars to dubious overseas “causes” in an effort to burnish the prime minister’s non-existent image as a world statesman ~ that money needs to be saved, here at home;
- Given that we account for about 1% of the globe’s greenhouse gas emissions all of our expensive efforts to reduce carbon emissions are doomed to be expensive failures ~ just more PR tricks; and
- A carbon tax is about the worst thing that you can do to the Canadian economy.
I suspect Mr Morneau knows all this, but he doesn’t set the priorities.
Canada needs to:
- Invest in our natural resources, especially in the infrastructure needed to get our oil to “tidewater” ~ pipeline must be built, no matter what First Nations will try to extort from the companies and governments;
- Restrain social programme spending ~ not cancel, not claw back, just restrain;
- Develop free(er) trade deals with Asia (the TPP), Britain, China (which is not part of the TPP), Europe (the CETA) and others; and
- Reduce taxes, not impose new ones.
In short, I suppose, Canada needs a new, Conservative, government.