It appears increasingly clear that the Trudeau government is seeking to move the release of any upcoming budget closer to an election, giving them the chance to campaign on their promises without actually delivering.
Canada will soon have gone two years without a federal budget, with the Trudeau government announcing they will not release a budget in March.
The government claims they need ‘more time’ to assess the economic impact of the virus crisis, which is what they have said throughout the two year period Canada went without a budget.
However, I think the real reason here is the Trudeau government wanting to push the budget closer to an election.
Earlier, I spoke to Marc Patrone on Sauga 960 AM, and discussed my view that the Trudeau government is seeking to exploit a window of time in which they feel they can gain votes.
That window will be time between a budget being released/the short-term ‘boom’ when most people have been vaccinated and activity increases, and the inevitable result of the surge of debt, lost businesses, lost jobs, and economic damage Canada has experienced.
There will be a time where the Liberals will be able to release a budget, point to some numbers showing economic growth, and campaign on their promises, rather than having to deliver anything.
So, why would they want to release a budget before most people are vaccinated?
They might miss their political window of opportunity.
What we are seeing unfortunately is the Trudeau government putting their political interest ahead of Canada’s interests.
Canadians need a sense of economic stability, and a federal budget would be a huge step in that direction.
Printing a bunch of money (Canada has seen some of the largest expansions of the central bank balance sheet in the world), a surge in debt – Canada’s debt rise is among the highest on earth as a percentage of GDP, and thinking that government payments (which were necessary early on yet can’t be sustained forever) can replace long-term economic growth in the private sector is a recipe for disaster.
Couple that with a government that seems focused only on how much money they can spend – and how much attention they can get for spending it – and Canada is heading for a period of severe economic risk.
The fact is, the Trudeau government is focused on short-term politics, when Canada requires leaders who look at the long-term.
This moment will require a lot of political courage, particularly those who can advocate for the bedrock principles of fiscal responsibility, individual freedom, and limited government. It may not be easy to advocate for those things right now, but it’s what Canada needs.
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