Justin Trudeau promised a deficit of no more than $10 billion in 2017-2018. Instead, it’s almost double that.
The budget deficit for last fiscal year should have been no more than $10 billion.
And next year, it should have been on the way to being balanced.
Of course, that would only have been the case if Justin Trudeau could keep his promises, and we’ve all seen that he can’t.
Instead, the budget deficit for 2017-2018 is projected to be $19.4 billion, adding even more to our growing national debt.
This is a clear betrayal of Canadians, millions of whom voted for Trudeau expecting small budget deficits and a clear timetable for a balanced budget.
As noted by the Globe & Mail, “Finance Minister Bill Morneau’s February budget projected five more years of deficits, declining in size from $18.1-billion in 2018-19 to $12.3-billion in 2022-23. Mr. Morneau has not announced a firm date for erasing the deficit, even though Conservative MPs have repeatedly asked him to set a timeline.”
Of course, the issue is not that “Conservative MPs have repeatedly asked him to set a timeline,” the issue is that the Trudeau government already told us that the timeline for a balanced budget was 2019. It was a campaign promise that they pledged to keep.
Instead, they broke that promise and have no plan for getting back to balance.
Not only does this make us more vulnerable economically – especially amid rising interest rates – but it also makes it clear that no promise made by Trudeau in the upcoming election can be trusted.
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