With a federal election looming in the near future, both (the Liberals and Conservatives) are trying to bribe us to vote for them with our own money.
The Liberals are promising (an income) tax reduction of about $800, while the Conservatives are offering (a cut equivalent to about) $1,800. What can we deduce from this? Well, firstly that we are being overtaxed at the moment, which most of us already know.
Secondly, despite overtaxing us, our governments have been totally inept at balancing the budget. Although to be fair, the Liberals never made any attempt to do so.
So, how are the parties going to finance our new lower taxes? Well (Conservative Leader Pierre) Poilievre has stated he intends to shrink government bureaucracy, which has increased massively over the last 10 years. (Liberal Leader Mark) Carney hasn't explained how he will achieve his tax reduction, but I would bet he will go to his one and only play, which is “quantitative easing,”—that's printing money to the rest of us. The trouble with that is it devalues our currency and fuels inflation.
The recent suspension of the carbon tax has resulted in significant cuts in the price of fuel and heating costs, among other things. It means we will see a massive drop in inflation this month. In December 2024 and January 2025, we also saw a large drop in inflation due to the suspension of GST on a range of products and services. So it's hard to escape the conclusion that, in fact, the government is a major contributor to inflation.
It won't admit it, but (I think) the government actually likes inflation. It is mired in debt, so the reduction in the value of our currency helps reduce future debt payments.
The impact of the carbon tax is now becoming clear in B.C. We were repeatedly told the tax collected from individuals was more than offset by the quarterly refunds sent to us and that it was “revenue neutral.” This has now been exposed as a lie, as the B.C. government is struggling with a $1.5 billion revenue loss (https://www.castanet.net/news/BC/539411/End-of-consumer-carbon-tax-leaves-1.5-billion-hole-in-B.C.-budget).
How is it going to fund the deficit it created by hiring thousands additional government employees? Cuts in services? We know is not in the NDP's DNA, so we can look forward to more and more tax increases over the next three years, while Premier David Eby will no doubt go cap in hand to the federal government looking for a share of equalization payments.
We have become a “have-not” province, despite being blessed with endless resources. We are the Quebec of the West.
Canada's past success has been dependent on resources but these are now scorned in the futile attempt to achieve “net zero.” Former prime minister Justin Trudeau repeatedly told us that there would be thousands of good paying green jobs but omitted to tell us they would be in China and South Korea.
Our future has been jeopardised by left wing ideology that is rapidly being proven to be a recipe for failure. Elsewhere in the world, countries have woken up and are electing Conservative governments but here in Canada people seem willing to elect a Liberal government that has failed us for the last 10 years.
Carney is Trudeau on steroids and if we give him free rein for the next five years, Canada will be a basket case. At the end of those five years he will walk away to a well-paid job in the U.S. and write his memoirs, telling everybody how wonderful he was.
Let's hope sanity might prevail at the ballot box.
Peter Emery, Kelowna