Ottawa, ON – Today, the PBO published their analysis of the Liberal fall minibudget, which can be summed up simply: prices up, debt up, taxes up, time’s up. After eight years of Justin Trudeau, Canadians are having to deal with one hundred billion dollars of additional debt that keeps inflation high, making the government richer while everyone else gets poorer.
In their analysis, the PBO reported that the deficit will be $8.5 billion worse this year than the Liberals promised, meaning more Canadian tax dollars will be spent servicing interest costs on Trudeau’s debt. On top of this, they will add another $20.7 billion in inflationary debt, despite warnings from the Governor of the Bank of Canada that this will make everything more expensive.
Justin Trudeau’s uncontrolled spending will keep inflation and interest rates higher for longer, pushing already struggling Canadians over the edge. And this reckless spending risks a mortgage meltdown on the $900 billion of mortgages that will renew over the next three years.
Worse still, Trudeau continues to hide where his promised $17.8 billion dollars of savings is coming from. Not only does the government have no plan to balance the budget, but they also have no plan to stop pouring fuel onto the inflationary fire.
Justin Trudeau is not worth the cost. Only common sense Conservatives have a plan to axe the tax, and balance the budget, to bring down inflation and interest rates.
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