A proper Throne Speech, written by a responsible government would have said something like “Faced with the COVID-19 global pandemic, my government pulled out all the stops as it tried to mitigate the impact that this once-in-a-lifetime event has on Canadian families. We have borrowed billions and billons and tens of billions of dollars ~ all of which we and our children and our grandchildren must repay, with interest. Now we must make plans to restart our economy so that all Canadians, all across Canada, can earn the money they need. There are many things that many Canadians want to do … commendable things but things that will have to wait while we all get back to work.” That’s not what Her Excellency the Right Honourable Julie Payette, our Governor General said, though, is it?
David Dodge, one of Canada’s most respected officials ~ formerly Deputy Minister of Finance and also former Governor of the Bank of Canada warned us, in an essay published by the Public Policy Forum and then the fiscally conservative Fraser Institute warned us, too, in a report by Jake Fuss and Professor Steve Globerman, that “Canada’s fiscal challenges extend far beyond just the short-term impact of COVID-19. An aging population will continue to place upward pressure on federal finances and a new structural imbalance between revenues and spending means deficits and debt are likely to continue growing for decades to come … [and] … The long-term projections demonstrate that based on current trends, the federal government is not on track to balance its budget at any point during the next three decades … or, as David Dodge put it: “Inevitably, at some unforeseen moment, it will bite us in the back.”
Even John Manley, a former Liberal Minister of Finance and Deputy Prime Minister, urges caution. ““I think we have at a minimum given up enormous flexibility in our options”” … [Manley said in an interview, quoted in the National Post when referring to Canada’s longer-term fiscal position, particularly since Ottawa has declined to provide any sort of a plan to return to budgetary balance] … “We’ve done the right thing by protecting people’s incomes and keeping businesses alive. But it’s not without cost,” he said.“
But Justin Trudeau and Chrystia Freeland know better. They are unworried by the lessons of recent (1980s) history. They don’t care that record high deficits run up in the 1970s and early ’80d nearly brought us to financial ruin and that it wasn’t until the Wall Street Journal in mid January 1995, dubbed Canada “an honorary member of the Third World” in an editorial that referred to the Canadian dollar as the “northern peso” that the Chrétien-Martin government got serious and heeded Brian Mulroney’s warnings and put Canada on a strict fiscal diet. In fact, of course, much of the “fiscal diet” wasn’t a real diet at all, it involved offloading social costs on to British Columbia, Alberta and Ontario.
Today’s Throne Speech is nothing more than a return to the entirely irresponsible policies of Pierre Trudeau, and economic illiterate who got Canada into deep trouble in the first place. Justin Trudeau, just like his father, is a fiscal fool …
… who seems hell-bent on reducing Canada to Third World status in pursuit of some mythical, totally irrelevant, port-modern, “just society” goals.
The Globe and Mail says that “The Liberal government is pledging to do “whatever it takes” to support the economy through the health and economic crisis of the coronavirus pandemic, releasing a Throne Speech Wednesday that also vows to create one million new jobs through environmentally-focused measures and incentives for companies to hire and train workers.” There is about as much chance of that happening as there was of the Trudeau regime planting the two billion trees he promised to Greta Thunberg … but failed, as he so often does, to deliver. The Trudeau government does promise to make the few (less than ¼ of all Canadians) who already pay most (over ½) taxes pay even more. That threat will, simply, drive the most productive Canadians out of Canada.
The Throne Speech promises a testing assistance response team to “quickly meet surge testing needs.” It adds that Ottawa is “pursuing every technology and every option for faster tests.” But Ontario Premier Doug Ford beat them to the punch by over an hour. But the Trudeau regime seems, with its focus on education and health care to want to run the provinces … how will Premiers Horgan, Ford, Legault and Higgs respond to that?
Of course, a Throne Speech is nothing more than a statement of intent. It doesn’t become operational, so to say, until money is allocated, This Throne Speech is little more than an election manifesto. Team Trudeau wants the Conservatives to speak and vote against it so that they, the Liberals can lie and say “See, the dreadful Cons don’t want to save the planet or provide housing for the homeless. The Liberals assume, I guess, that the NDP, which seems leaderless and adrift, will find enough to like so that Canada can avoid an election when the WE Charity scandal and Justin Trudeau’s abysmal performance in allowing COVID-19 to enter and get established in Canada when other countries were acting responsibly is still fresh in voters minds.