Today's discussion:

You can thank Trudeau’s policies for our stagnant economy and deteriorating federal finances

The Trudeau government's policies have resulted in economic stagnation and a marked deterioration in the country’s finances. Large increases in spending, taxes, and borrowing have not translated into a more robust economy. If Canada is to restore its economic and fiscal health, Ottawa must enact fundamental policy reform.

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Comments (16)

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The Hub Staff

Thank you for contributing to Hub Forum. To see more from The Hub on Canada’s finances, check out this piece by Geoff Russ: https://thehub.ca/2023-09-20/lots-of-debt-higher-interest-rates-big-political-promises-how-sustainable-are-canadas-finances/

12th January 2024 at 11:55 am
Mike

Being in my 20s, the increasing federal and provincial debt burdens are very worrisome. I say this because it will inevitably result in more taxation down the line, which, apart from costing my age cohort more, will also drive investment – and by virtue of this, jobs – out of our great country. When you combine these potential tax grabs with the fact that housing, food, etc., is increasingly unaffordable, it makes you question whether you can remain in Canada. While I rather stay here, the idea of going to the United States is becoming more enticing.

12th January 2024 at 7:16 am
remi van wermeskerken

The sooner Trudeau and the Liberal/NDP coalition are gone, the better for Canadians. We need to get the reckless spending under control.

12th January 2024 at 7:39 am
Paul Attics

The principle of sustainability used for how we should treat the natural environment should also be applied in a bipartisan way to our fiscal environment.

Obviously, the components of our fiscal health (growth, revenue/taxation, and spend) must be in balance over the medium term and beyond. Ideology has little to do with this practical reality at the top level. The current Federal government has been chronically out of balance whether in “good” times or “bad”.

This is irresponsible taking (borrowing or stealing) from we Canadians of tomorrow.

12th January 2024 at 8:39 am
BobSt

Taxes increases start now, effective April, carbon 1 increases, carbon 2 kicks in, alcohol tax escalator, a tax increase that requires no debate, payroll taxes going up. That’s at the federal level. Now when you add in provincial increases on property, in New Brunswick, NBPower is proposing a 12% increase to hydro rates (add in the carbon increase and its certainly more than 12% to the monthly bill’s bottom line. So our federal, provincial and municipal governments have overspent, interest rates have skyrocketed and the debt servicing cost is crippling. Who do you think these governments are going to turn to pay off those historically debts.

12th January 2024 at 10:47 am
Lauraine

Payroll taxes??? are contributions by employers and employees

13th January 2024 at 3:17 pm
Richard Courtemanche

When people realize that the objectives of the NWO, the WEF, the WHO, etc… are not conspiracy theories and that Trudeau is perhaps their favourite and most productive mentee, we should not expect that the unstable traitor and his sidekick Freeland intend to make things better for Canadians. On the contrary, morally, mentally and physically sabotaging the population facilitates our capitulation to these evil global oligarchs.

What is equally revolting is the apparent inability of anyone to do anything to counter our demise, thereby giving the traitors a few more years to finish us off, assuming the same scoundrels won’t be re-elected.

12th January 2024 at 8:53 am
Paul Attics

Consider listening to the podcast “Things Fell Apart”, Episode 7 in Season 2 in particular.

https://www.bbc.co.uk/sounds/brand/m0011cpr

12th January 2024 at 9:01 am
Gary Oxenforth

When the liberal/NDP Gov is gone and the Conservatives take over they will get the blame for cutting services and increase taxes

12th January 2024 at 8:50 am
A. Chezzi

No doubt the current government bears some responsibility for the slow economy but to say it is all Trudeau fault is the simple mantra of Pierre Poilieve. There are world conditions to consider which are out of the control of Justin Trudeau. To ascribe all the fault to Trudeau is to endow him with great power. The war in the Ukraine, in the Middle East, with the Houthis, the world problem with inflation (which Canada is dealing with better than other countries), and supply are matters which are affecting all countries. While PP rants and rails against Trudeau, he has yet to offer anything concrete by way of a plan. He is rage farming and you cannot build a country on rage and negativity. I hope Canadians take a very close look at what he offers if he ever does state his plans. He may well take a page from Doug Ford and say nothing during the election campaign, choosing to ride on the poll numbers. That is not fair to Canadians but I think he is more concerned with power than fairness. In that he is like Trump and the Con rhyme with the Republicans. It is not so far fetched to think he will lead us down the same rabbit hole. Harper did say he wanted to make the Conservatives the natural ruling party of Canada and Poilieve is his loyal follower. God only knows what he will do to make the Conservative dream a reality.

12th January 2024 at 9:15 am
Kim Morton

Are you paid by the liberal party to spew propaganda? Or are you really that clueless?

12th January 2024 at 10:31 am
BobSt

I think he’s a bot…

12th January 2024 at 10:37 am
Paul Attics

Oh, the irony. Hyperbolic propaganda of any party or ideological persuasion, paid or unpaid, equally pollutes good faith dialogue. Just stop.

12th January 2024 at 10:57 am
Paul H

Read the article again. It’s not about the current Conservative leadership. It’s about the Trudeau government’s inept fiscal policies.

12th January 2024 at 10:19 am
Lauraine

The same argument goes on and on….. use the USA as the model for growth. Wrong.

13th January 2024 at 3:20 pm
Hbkool

Excellent article. The net debt method goes against every rule a credit facilitating company has for lending money.

I have advocated that the government use a simple rule to define the gross debt. Amortize that amount over 25 (or even 50) at a 4% interest rate and show us that number in every government budget. If that number is higher than any other listed expense item, other than CPP and OAS, the government should call an election.

12th January 2024 at 8:48 pm