Justin Trudeau is making Canadians pay for his mistakes. His failure to balance the budget means higher taxes down the road and less protection against the next economic downturn.
Justin Trudeau promised he’d balance the budget in 2019, instead he’s continued to spend and the deficit is more than $21 billion this year (Parliamentary Budget Office).
According to Finance Canada, the budget will not be balanced until at least 2040, by then racking up an additional $271 billion of debt.
Every year that Justin Trudeau runs deficits, he is borrowing money from future generations. Today’s deficits are tomorrow’s taxes.
Parliament today will debate the following Conservative Opposition Day Motion:
“That, given the Prime Minister broke his promise to eliminate the deficit this year and that perpetual and growing deficits lead to massive tax increases, the House call on the Prime Minister to table a plan in Budget 2019 to eliminate the deficit quickly with a written commitment that he will never raise taxes of any kind.”
Make no mistake, if Justin Trudeau is re-elected, he will continue to raise taxes to pay for his mistakes.
Justin Trudeau has already tried once to tax employee discounts, health and dental benefits and go after small business owners.
According to the Fraser Institute, more than 90% of Canadian families will pay higher taxes once the Liberals’ Canada Pension Plan tax increases are fully implemented by 2025.
According to the CRA’s own website, the Liberals’ plan to tax employee discounts ‘is currently under review’. Hardworking, low-income, wage-earning retail workers should not have to pay tax on the small employee discounts they receive.
The Parliamentary Budget Officer published a report which found that Justin Trudeau’s plan to tax employer-provided health benefits will cost Canadians $2.8 billion in personal income taxes.
The Liberals’ previously proposed tax grab would have forced business owners to pay a 73% tax on savings income, penalized family businesses for sharing earnings and work with family members, and doubled the tax on the sale of a farm from parents to children, forcing them to sell instead to multinational corporations.
Conservatives will continue to expose Justin Trudeau’s many failures and how Canadians will pay more for them, while presenting our own vision for creating opportunity to help Canadians get ahead.