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Canada is in trouble; this Budget isn’t the solution

I spoke to Bill C-69, Budget Implementation Act, 2024, No. 1.

The Liberal view that Canada is a post-nation state is doing irreparable harm to this once great country. Our economy is the sick child of the G7. Our friends in the world no longer see us as a dependable ally. We continue to underfund our military at a time of growing threats. We don’t attract private sector investment – jobs are created only by government. People can no longer afford the basics of life: housing, groceries, fuel, and daily expenses. Debt at every level is escalating.

The last Bill C-69 went all the way to the Supreme Court where it was eventually found to be unconstitutional. But it directly resulted in years of divisiveness; years of project delays, years of foregone taxes from productive sectors while shoveling money out the door to government insiders. This new C-69 will have many of the same outcomes.

This budget was marketed as Fairness for Every Generation, but it is particularly unfair for young Canadians who will have to bear the burden of $1.3 trillion in debt and growing interest payments. Each Canadian owes $30,000 in debt – just at the federal level, not accounting for provincial debt, plus their personal debts.

The government is not honest in portraying Canada’s economic situation, as it claims that $800 billion in funds collected from Canadians to be invested for their pensions (CPP and QPP) is somehow a government asset, collateral for excess spending and borrowing.

I looked for information on the government’s housing plan. Housing costs have doubled under this government. Has take home pay doubled? Absolutely not. And I found references in this bill to only two of the 53 housing initiatives.

Nothing gets done in this country unless the government writes a cheque to do it. That is particularly the case for big corporations who choose to build their facility in the right place, with the right flavour of the day, in order to pocket big subsidies. The jobs they create cost millions each (and we now know many won’t even go to Canadians), and the economy will never recoup those funds.

Listen to the voices telling you to get the budget back to balance, stop inciting inflation, allow interest rates to drop lower, encourage private sector investment and jobs that let us bring home prosperity.

For Further Reference

The transcript of Greg’s remarks from Hansard.