"PUTTING MONEY BACK IN THE POCKETS OF CANADIANS"

Politicians do not like talking about taxes unless of course they are cutting them, or as the Conservative government keeps telling Canadians, “putting money back in their pockets”.

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JOE OLIVER VISITS TURKEY

“Our Government’s sound economic management and unwavering commitment to balance the budget this year—while creating jobs, growth and long-term prosperity for Canadians—has resulted in a resilient economic performance in a challenging global economy. As Canada is doing with its Economic Action Plan, we encourage G-20 countries to follow through on their commitments to create jobs and a strong, sustainable and balanced global economy.”

 

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WAKE UP JOE THE BUDGERT WILL BE BALANCED THIS YERAR

The government has painted itself into the proverbial “political” corner”. In the March 2011 budget, the government made a commitment “to return to balanced budgets by 2015-16 at the latest”.  

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OUR GRANDCHILDREN WILL BE REALLY ANGRY WITH US

For the past several weeks, politicians and the media have been arguing over Joe Oliver’s decision to delay the budget until after March 31st.  If the Finance Minister keeps to his word, the earliest the budget could be tabled would be in the week of April 20th. The later the budget is tabled, the less time there is to ensure timely passage of any accompanying legislation, without the use of time limits and closure.

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CANADIANS DESERVE A “REAL BUDGET"

 

Budgets are becoming less and less important as policy documents but does anyone really care or does it really matter: certainly not for the Harper government?

Finance Minister Joe Oliver did a 180-degree flip on January 16th.  After much confusion about the impact of the dramatic fall in oil prices, Mr. Oliver announced that the budget would be delayed until after March 31, perhaps to April or even May or maybe even until after the election. There is no legal or constitutional requirement to table a budget.

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DISAPPEARING CREDIBIL.ITY

In last year’s budget, the price of oil was $110 a barrel. In June, the price of a barrel of oil began to fall and by October it was down to close to $80. The government was not at all concerned by this decline or to emerging risks in the global oil market.

 

Indeed the government was so confident that the risks were minimal that in the same month Prime Minister Harper, with great fanfare, announced major tax cuts, including income splitting.

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