Home
Search:
1146 feeds
357 categories
0 articles (<24 hours)
36 registered users

Use the Mobile version
Mobile

Follow our Twitter feed

View our Linkpartners
Links

Username:
Password:

Register | Retrieve

General


RSS FeedsCan Scheer balance the budget without cutting services?
(The Star Canada)

 
 

21 september 2019 00:00:03

 
Can Scheer balance the budget without cutting services?
(The Star Canada)
 


OTTAWA—Can the Conservatives have their budgetary cake and eat it too?Over the first two weeks of the federal election campaign, Andrew Scheer has announced tax cuts that would blow a $2 billion hole in a prospective Conservative governments’ first budget in 2020.While that would be partially covered by a $1.5 billion cut in unspecified federal support for corporations, the Conservatives have so far provided few hints on how they would make good on Scheer’s pledge to balance the budget within five years.A Star analysis of the Conservatives’ campaign promises so far — on top of the baseline projections prepared by the independent Parliamentary Budget Office (PBO) — would result in a deficit of $24.3 billion in 2020-21. That’s in the absence of new spending or spending restraints the Conservatives could promise in the remaining 30 days of the election campaign.Based on what the Conservatives have announced, the deficit would be $16.5 billion in 2024-25 — the year Scheer has suggested he’d balance the books.(This analysis is only possible because the Conservative campaign has allowed the PBO to provide a cost analysis for every announcement they’ve made so far.)“It looks like there’s a race to the bottom in the sense that (the Liberals and Conservatives) want to compete with each other about who is going to add more tax cuts and who is going to add more spending,” said Mostafa Askari, chief economist at the University of Ottawa’s Institute of Fiscal Studies and Democracy.“To me, this would be irresponsible. The least they can do, the least anchor, is the declining debt-to-GDP ratio. Even if you don’t have a balanced budget target … at least you have to show a decline in debt-to-GDP ratio,” referring to the fiscal goal the Liberals set for themselves during their first term.“From what I have seen so far, they need to take really drastic action to come to ...


 
16 viewsCategory: General > North America > Canada
 
Liberals say look to record on racism amid Justin Trudeaus brownface scandal. So we did
(The Star Canada)
Young people take to the streets to demand more aggressive action on climate change
(The Star Canada)
 
 
blog comments powered by Disqus


Copyright © 2008 - 2024 Indigonet Services B.V.. Contact: Tim Hulsen. Read here our privacy notice.
Other websites of Indigonet Services B.V.: Nieuws Vacatures Science Tweets Nachrichten