On Sept. 9, the Hon. Erin O’Toole, Leader of Canada’s Conservatives, released the full costing of Canada’s Recovery Plan as reviewed by the Parliamentary Budget Office.
“With the only shrinking economy in the G7, Justin Trudeau has nothing to show for running reckless deficits and spending more than all of the previous Canadian governments combined,” said O’Toole. “We cannot afford four more years of Justin Trudeau hiking taxes and saddling future generations with mountains of debt.”
Through Canada’s Recovery Plan, a Conservative government will pursue a responsible and measured approach to balancing the budget over the next decade by running a disciplined government that limits the growth of future spending and makes no cuts.
The plan maintains current federal spending commitments for public programs in 2021-22, while reducing the deficit by 85 per cent over the next five years from $168 billion this year down to below $25 billion in 2025-26.
Canada’s Conservatives have a detailed plan to boost Canada’s economic performance.
However, to be fully transparent and show the prudence of the Conservative plan, the costing shows what spending and deficits will look like without the plan’s stimulus measures resulting in any additional growth.
While not included in the estimates of the plan in order to be prudent, Conservatives believe that growth will actually be higher because Canada’s Recovery Plan includes a robust plan to boost the country’s economic performance by:
Delivering the Canada Job Surge Plan, a generous job growth incentive to restore the one million jobs lost during the pandemic and create thousands more.
Making Canada the most innovative economy in the world with ultra-competitive tax rates, innovation incentives that target Canadian benefits, and an advanced research agency to invest in promising technologies.
Overhauling Canada’s tax system and reducing the burden of regulation to make Canada the best place in the world to invest and build a business.
Providing financing and investment capital to small businesses so they can flourish.
Building world-class infrastructure all across this great country, including significant investments in public transit and broadband.
“Canada’s Recovery Plan will get the economy firing on all cylinders and ensure workers benefit from higher wages, more secure jobs, and better supports for families,” concluded O’Toole. “Our fully costed plan will secure the future for all Canadians from coast to coast to coast.”
Only Canada’s Conservatives have a plan to grow the economy, protect public services, and put Canada’s fiscal house in order.
The platform costing can be found here.
