Terrazzano: Throne Speech missing fiscal prudence
OTTAWA, ON: The Canadian Taxpayers Federation is criticizing the federal government’s Throne Speech for failing to prioritize debt reduction or tax relief.
“The federal government is $1 trillion in debt, but the Throne Speech didn’t even mention the deficit or debt,” said Franco Terrazzano, Federal Director with the CTF. “The Throne Speech claims the government is ‘prudently managing spending,’ but the government is still spending recklessly.”
Even before the pandemic, the federal government was spending all-time highs. Budget 2021 would increase permanent federal government spending by more than $100 billion by 2026. Despite claiming that the federal government is “prudently managing spending,” the Throne Speech does not mention any plan to balance the budget or reduce the debt.
In addition to the $1-trillion federal debt, the CTF is raising concerns over other policies included in the Throne Speech:
Gun Buyback: The cost of reimbursing gun owners could reach $756 million, according to the Parliamentary Budget Officer. The National Police Federation said the gun buyback will not address public safety issues.
Carbon Tax: The federal carbon tax will increase the cost of gasoline by nearly 40 cents per litre by 2030. In addition, the federal government is planning on imposing a second carbon tax through fuel regulations. The second carbon tax could add an extra 11 cents per litre of gas.
Online censorship: The Throne Speech says the government will “reintroduce legislation to reform the Broadcasting Act.” This legislation could reduce the ability of citizens to hold the government accountable online.
“Taxpayers expect the federal government to stop the massive deficits, but instead we’re getting higher gas prices, less online accountability and expensive and ineffective gun policies,” said Terrazzano.