Prolonged inflation can lead to a renewed public desire for fiscal responsibility.
Increased government spending leads to short-term, easily-noticed benefits, and long-term costs that are tougher to pin on that initial spending.
It’s why politicians like Jagmeet Singh think they can get away with supporting inflationary spending and higher taxes, and then blame people like Galen Weston for the consequences.
But over time, people start to make a link between prolonged increased spending, and the way life is becoming less and less affordable.
And that seems to be happening now in Canada.
According to a new Nanos poll, a majority of Canadians would prefer a balanced budget/lower tax burden over a budget deficit/investment in programs:
“Which is more important to you?”
Balancing the budget to ease the tax burden on Canadians: 56%
Running budget deficit to invest in programs for Canadians: 35%
Nanos Research / March 1, 2023 / n=1012 / MOE 3.1% / Telephone/Online”
"Which is more important to you?"
Balancing the budget to ease the tax burden on Canadians: 56%
Running budget deficit to invest in programs for Canadians: 35%
Nanos Research / March 1, 2023 / n=1012 / MOE 3.1% / Telephone/Online
— Polling Canada (@CanadianPolling) March 13, 2023
This kind of public sentiment represents a political opportunity for the Conservatives. If Canadians are beginning to turn against the underlying ideological attitude of Justin Trudeau & Jagmeet Singh (spend more, tax more) then the CPC has an opening to expand their level of support.
Spencer Fernando
