Deficit Déjà Vu
Ottawa, ON – In 2015, the Liberals promised that deficit spending was necessary to build affordable housing and create economic growth. After a decade of doubling the size of the debt, inflation-adjusted investment per worker fell by 10.8 per cent, the largest decline in the G7.
Meanwhile, per-worker investment rose 22.9 per cent in the United States. This means that now Canadian workers get just 55 cents of investment for every dollar an American worker receives.
Despite his track record of failure, Mark Carney is choosing to double down, repackaging the same decade-old, Liberal ideas with shiny new slogans such as “spend less and invest more.” His even-larger deficits, disguised as investment, are creating the same disastrous results.
86,000 more Canadians are out of work, and we now have the second-highest unemployment rate in the G7 as the economy shrank more than any other G7 country after Carney broke his promise to build the fastest-growing economy in the G7. It’s all because investment is fleeing with $610 billion of net investment going to America over the last decade.
Every dollar of investment pushed out of Canada is a dollar that isn’t creating jobs for our workers or delivering higher wages for our people. As Carney’s policies push wages down, his out-of-control spending pushes taxes and inflation up, taking more money out of Canadians’ pockets.
That’s why Conservatives put forward a motion calling on Carney to stop copying the failed Liberal playbook and recognize that his deficits are driving investment and jobs out and the cost of living up.
Canadians can’t afford another bait-and-switch Liberal who promises one thing but delivers the opposite. Conservatives will continue to oppose Carney’s reckless spending and fight to restore Canada’s promise with lower taxes and stronger take-home pay.