Fiscal Responsibility

 

Through Canada’s Recovery Plan, a Conservative government will get spending under control and balance the budget. 

 

To restore fiscal responsibility , we will:
 

  • Adopt a responsible and measured approach to balance the budget over the next decade
     
  • Rein in deficits to address inflation and the rising cost of necessities
     
  • Wind down emergency pandemic supports in a responsible and compassionate way as recovery gets underway
     
  • Invest in targeted stimulus measures, such as infrastructure, to create jobs and improve the quality of life of Canadians
     
  • Get back to robust economic growth of three per cent or more, so people have access to good jobs and opportunities to grow their business, which in turn provides more tax revenue to invest in core public services

 

Supporting Points:

  • Canada is borrowing $424 million more than it takes in each day.
     

  • Budget 2021 shows total federal debt doubling to $1.4 trillion in just four years, which amount to $93,000 for every family in Canada
     

  • Carrying this much debt leaves Canada in a vulnerable position to future downturns and crises
     

  • Over the past two years, Justin Trudeau’s government has made a staggering 16,760 spending announcements, more than any government in history
     

  • Canada has spent more than any other country in the OECD on its pandemic response and the results are among the worst in the G7
     

  • Even now, Canada’s unemployment rate sits at 7.5%, the second highest in the G7 and they missed their recovery target by 340,000 jobs
     

  • Nearly half of Canadians are doubtful they can cover living expenses this year without going into further debt, which is the highest level in three years