"A Citizen"s Eye View"

Friday, April 6, 2012

Why can't Harper reverse his mistakes and put Canada back in surplus?

The Progressive Canadian Party is a legitimate federal political party. They are composed mainly of members of the former Progressive Conservative Party of Canada who would have nothing to do with the merger between the Reform/Alliance group and Peter MacKay's P.C's in 2003. They can be seen as either Red "Tories" or Blue "Grits" and take equally, the best ideas and philosophies from either sides of the political spectrum. They are purely "Canadian" in their thinking and are slaves to no ideology or corporate interest. Their sole purpose is to do what's best for all Canadians
Below, is a statement from the Leader of the Party, the Honorable Sinclair Stevens, in response to the Reform-Conservative 2012 budget. 

"Why can't Harper reverse his mistakes and put Canada back in surplus?

Newmarket, Ontario, April 4, 2012
The Federal Government could put Canada into a budget surplus in 2012-2013 if they immediately reversed two mistakes they have made since taking power in 2006.

That year they inherited a $13.8 billion surplus. But to win favour with voters they reduced the GST from 7% to 6%, and in 2008 they cut it further to 5%. As a result the GST revenue fell by $19 billion from 2007 to 2009.

After real growth in the economy GST revenue is still 12 billion lower than in 2005.

But the cut helped them get elected.

The second mistake they’ve made is reducing corporate taxes from 21% to 16.5%. This tax yielded the Federal Government $153 billion in 2006 compared to $131 billion last year – a fall of $22 billion. They now propose to lower the rate to 15% compared to a 27% rate in the United States.

But the corporate tax cuts gained them business support.

It is time they corrected their errors.

They project a deficit this year of 24.9 billion, which should not have been allowed to happen, and next year they project 21.1 billion in deficit. They now project the national debt will reach an all-time high of $600 billion, and remain there to 2015. Parliament must insist that the lost GST revenue and corporate tax gifts be immediately reversed to ensure there is a surplus in FY2012-13 instead of a deficit of 21.1 billion.

When the Liberal Government was in power they took steps to lower the national debt, which was approaching $600 billion, so that by the time the Harper Government took over it was down to $500 billion. Clearly, if we accept their figures, the Chretien-Martin Governments were better managers than the Harper Government.

It is intolerable that a government is so devious in their quest for power that they subject the nation’s grandchildren to such a huge and continuing debt.

For more information contact:

Hon.Sinclair Stevens,
PC Party Leader,

No comments:

Post a Comment