Taxpayers federation says throne speech does not address mounting federal deficit

Taxpayers fed pans speech

The Canadian Taxpayers Federation has come down hard against Wednesday's speech from the throne.

The federation says the federal Liberals gave no indication in the speech on how to address the federal deficit, closing in on $400 billion, and makes reference to new, "permanent big-ticket spending on measures unrelated to the pandemic."

"The deficit is closing in on $400 billion and there was zero mention of any plan to hit the brakes on spending,” said CTF federal director Aaron Wudrick.

“We can’t carry on like this for much longer, and yet the Trudeau government seems to meet this deteriorating fiscal situation with a shrug.”

Wudrick says the federal debt is on track to reach $1 trillion by the end of 2020, adding more debt has been incurred this year than in the previous 22.

“Regrettably, this government appears to want to exploit this health crisis as a pretext to splurge on big-ticket items that we could not even afford before the pandemic,” said Wudrick.

”Ottawa has a massive deficit so now is the time to focus spending on the highest priorities instead of shopping around for nice-to-haves that simply add to the credit card bill. A better approach would be treating all industries and businesses fairly by offering broad-based tax relief that benefits all."

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