Budget 2023 – More broken promises
By GLEN MOTZ on March 31, 2023.
So much for a promised ‘fiscally responsible’ federal budget. Again, it is crystal clear that the Trudeau government has no understanding of what Canadians want or need to regain their financial security or faith in future prosperity. Only a year ago the Liberals assured Canadians the deficit position they had put our country into over seven years of irresponsible spending, would be reduced to $8.4 billion by 2026-27. Last fall’s economic statement even boasted of a $4.5-billion surplus the year following. Budget 2023 however, confirms the Liberals tax-and-spend pattern – even while Canadians are shouldering unsustainable inflationary costs for basic living. Fiscal prudence was never a consideration. This week’s $447-billion financial plan forecasts instead a $40.1 billion deficit this fiscal year. That puts Canada’s federal debt for 2023-24 at a projected $1.22 trillion. That is nearly $81,000 per Canadian household. This budget alone will add $4,200 per family in new government spending with no path offered to balance Canada’s budget projections. The cost of servicing Canada’s enormous debt continues to grow. In 2021-22, Canada’s debt servicing costs were $24.5 billion. The cost to service Canada’s debt in 2023-24 is projected to be $43.9 billion – almost double of two years ago! Justin Trudeau’s inflationary spending has driven up interest rates, which has driven up the cost of Canada’s debt servicing. All this budget has delivered for Canadians is more debt, more inflation and more costs on the backs of the already hard-working and beleaguered people of this country. Conservatives had three clear demands for this budget – lower taxes and scrap the carbon tax; end inflationary deficits and wasteful spending that are driving up the cost of living; and build more affordable homes. This budget meets none of these. Responses to my pre-budget constituency survey indicated 75 per cent of individuals, 55 per cent of businesses and 50 per cent of municipalities cite the biggest financial hurdles faced relates to the high cost of living. Individuals and families are living in desperation. Businesses are closing their doors because of dwindling customers and increased payroll and carbon taxes, while moderate to significant economic development shortfalls have impacted municipal budgets and employment opportunities. Seventy per cent of Medicine Hat-Cardston-Warner residents who participated in our survey do not believe Canada’s economic situation will improve in 2023, with the same percentage expecting their personal financial situation to be worse in 2023 than 2022. Inflationary spending is the root of skyrocketing food prices. One in five Canadians are skipping meals. Food bank reliance has hit historical highs, while unbelievably, some clients are seeking help to end their lives, not because they are sick but because they can’t afford to eat. Canada is broken and budget 2023 has done little to help fix it. It is critical for Canadians to know that Conservatives will not support this irresponsible budget. Conservatives believe that Canada should work for the people who have done the work. It’s time to make life more affordable for Canadians. Glen Motz is MP for Medicine Hat-Cardston-Warner 12-11
