Green Party Platform Costing Does Not Pass Economics 101

October 11, 2019

The Greens have promised pharmacare, free tuition and carbon neutrality in their election platform.  These are extremely costly programs.  Their plan is to tax the rich but history has shown that it just doesn’t work.  In Europe in the 1980s, 12 countries had a wealth tax.  Today it only remains in 4 small countries; the others have realized that it is better to be able to tax a reasonable amount from the rich then none at all when they relocate or move all their money offshore due to high tax rates.

No serious economist or tax expert takes the Green Party Platform 2019 Costing seriously or their promise to balance the budget in 5 years.

The Greens want to increase government spending and run significant budget deficits each year for the next 5 years and in the same breath say they are going to balance the budget in 5 years. 

This balancing act assumes that they will to be able to raise the corporate tax rate by 40% and add an asset tax on wealthy individuals with the assumption that corporations and wealthy individuals will just pay their new taxes – this is incredibly naïve in an era of globalization.

The Greens have a revenue line in their costing plan of $8.2 Billion from tax havens in the first two years alone! The CRA has spent millions of our taxpayer dollars trying to go after wealthy Canadian families’ international tax planning with little or no success. The Greens think they can just give CRA appropriate resources and collect over $8 Billion of revenues that would otherwise not be collected due to tax havens by 2020-21. Even if our tax code was drastically changed in the first year of a new government any legal proceedings against wealthy Canadians would take years to get to trial in our civil justice system.    

The Greens will require all homes to be carbon neutral by 2030. Do you have a spare $150,000 to completely retrofit your house?

The Green Party has not even told voters how much they would raise the carbon tax to meet their emission reduction targets?

The Greens’ plans would devastate our economy and your household budget. It’s hard to have the funds to fight climate change when your unemployment rate goes to 25% and talented people and profitable companies flee Canada.

Canadians understand that you can’t borrow money indefinitely – even countries – borrowing always leads to a larger portion of tax dollars paying interest payments to bond investors as opposed to this money going to our health and social programs.  To provide some context, we are almost at the point where the interest payments on our government debt will exceed the federal government budget for healthcare.  That’s not a good use of taxpayers’ dollars.

A new Conservative government will balance the annual operating budget within 5 years WITHOUT cuts to Canada Child Benefit, Benefits to Seniors, or to our public healthcare system and social spending. Canadians trust the Conservative party to effectively manage the economy and to help Canada live within its means.

VOTE Conservative for a Strong Economy!