The $59.5-billion federal budget is a disappointment, says to Conservative Red Deer-Lacombe MP Blaine Calkins.
“Another year, another disappointing budget from the Trudeau Liberals. Higher taxes, inflationary deficits, and no real plan to address the pressing issues facing Canadians — it’s clear that this government is out of touch with the needs of hardworking families,” said Calkins in a Facebook statement.
Finance Minister Chrystia Freeland unveiled the Liberals’ latest federal budget plan on Tuesday, which promises billions of dollars for the health-care system, clean-energy infrastructure and other priorities.
Federal departments and agencies are being told to start tightening their belts as the Trudeau government looks for ways to pay for its latest budget promises. Freeland says the savings won’t come at the expense of service to Canadians.
The federal deficit is projected to decrease to $14 billion by 2027-28 from $43 billion, while the debt-to-GDP ratio is expected to rise slightly in the coming year before falling to 39.9 per cent in 2027-28, down from 42.4 per cent.
The Canadian Taxpayers Federation criticized the Liberals for raising taxes and running deficits indefinitely.
“This budget is giving taxpayers big deficits, more money wasted on interest charges and higher taxes. This government doesn’t care about fiscal prudence or helping taxpayers,” said Franco Terrazzano, federal director of the federation, in a statement.
The federation says that while the government is providing some one-time GST rebates, there are no broad-based tax cuts.
“Giving a few families back some of their GST money back is really just an admission there’s a problem without looking for a serious solution. Taxpayers need real tax relief.”
The federation says the deficit is expected to reach $40 billion in 2023, which is almost $10 billion higher than forecast in the fiscal update, and there is no plan to balance the budget. The debt will total $1.2 trillion by the end of 2023. Interest charges on the debt will cost taxpayers almost $44 billion in 2023. Interest charges will reach $50 billion in 2027.
Conservative MP Calgary Michelle Rempel Garner said with Budget 2023, Prime Minister Justin Trudeau served up a stale, expensive, nothing burger.
“It creates more debt for Canadians and does little to address the needs of Calgarians, like more affordable housing, or lowering the cost of living,” said Rempel in a statement.
“This flagrant disregard for public finances will only make the inflationary crisis worse. Canadians deserve better.”
– with files from The Canadian Press