Liberal Budget Will Add $330 Billion In New Debt Over Next Five Years
FORT ST. JOHN – Bob Zimmer, Member of Parliament for Prince George-Peace River-Northern Rockies, issued the following statement regarding the release of the Liberal’s first budget in over two years:
“After waiting over two years for the Liberals to release a plan for jobs and the economy, I know many in our region are disappointed by what Justin Trudeau and his government have put forward.
“Canadians want to get back to work. Instead of focusing on safely reopening our economy, the Liberals want to test an out-of-control debt plan without any real stimulus, one that abandons the natural resource sector entirely, and provides no real fiscal anchor.
“This budget tries to make up for Justin Trudeau’s botched COVID response. It doesn’t.”
“I am especially concerned about the $330 billion this budget will add to our national debt over the next five years as well as the financial harm this will cause Canadians now and in the future. This year, for the first time in history, Canada’s national debt will pass $1.2 trillion. Not only that but interest costs to taxpayers will double from $20 billion in 2021-22 to almost $40 billion in 2025-26.
“I am also concerned about the lack of infrastructure funding included in the budget. I firmly believe that now is the time to invest in much-needed infrastructure, like replacing the Taylor Bridge, because these projects will help prepare us for success in the future. It’s unfortunate that the Liberals have not made this type of funding a priority.
“This budget does nothing to secure long term prosperity for Canadians. This is 739 pages of spend, spend, spend that will only lead to higher taxes.
“Canadians deserve better, especially during this time of crisis. Canadians can be confident that with Erin O’Toole’s Recovery Plan, we will secure their future by recovering millions of jobs and will introduce policies that result in wage growth and lower taxes.”
More information: Bob.Zimmer@parl.gc.ca