This document discusses Canada's deficit, debt, spending, and economic growth under Prime Minister Harper's government. It provides statistics on debt to GDP, program spending, revenue, and budget balances. It also analyzes criticisms from opposition parties like the NDP and Liberals, arguing they fail to consider external economic factors like the 2008 recession or improvements to transfers to provinces. The document questions why opposition parties do not discuss other federal programs or policies impacting investment and economic growth.
14. Comments:
• There has been many comments on the federal government, especially debt and deficit. Mr. Harper took over as official
government on February 5, 2006. The house was in a minority parliament as Paul Martin just left office. The CPC first annual
report was 2006-2007 - http://www.parl.gc.ca/parlinfo/Compilations/FederalGovernment/PrimeMinisters/Gallery.aspx
•
• Harper took a hard look at funding social programs starting in 2007-2008 (link: http://www.fin.gc.ca/afr-rfa/2008/afr2008_e.pdf)
– see page 13
• USA economy growth rates on average are 2% as compare to 4% in the 1990s. http://www.statista.com/statistics/188165/annual-
gdp-growth-of-the-united-states-since-1990/. LPC comments that Harper has been poor manager of the economy and yet nothing
on USA Growth rates. USA still has not totally recover from housing bubble or stagnation with the middle class:
http://www.cnbc.com/id/102438557. USA is Trade has been rebounding, but the problem is the lack of capacity for exports in key
provinces like Ontario and PQ: http://www.statcan.gc.ca/tables-tableaux/sum-som/l01/cst01/gblec02a-eng.htm
• 2008-2009 there was world-wide global recession which forced Harper and his government to spend on a stimulus. Both the LPC
and NDP claim the stimulus was not enough it terms of helping the economy:
http://www.thestar.com/business/2009/02/06/stimulus_not_enough_liberals.html. It is funny how Mr. Goodale recently made
posts that CPC had been poor on managing the finances, but says little on how LPC asked for more money
• Mr. Harper increases transfers to the provinces by 50% over the past 8+ years. The provinces have more money for
education/healthcare than at any point of time in the past 20+ years. In the 1990s the LPC cut transfers to the provinces, but
nothing is said, why? http://www.slideshare.net/paulyoungcga/canada-deficit or
http://www.slideshare.net/paulyoungcga/provincial-transfers-and-program-spending. The opposition parties like the LPC or NDP
are good at saying healthcare will see $36B less in money, but say little how healthcare delivery by various provinces has gotten
worst over the past 10+ years, why? The PBO report never look at delivery, but felt it is just a funding issue:
http://www.bloomberg.com/visual-data/best-and-worst//most-efficient-health-care-2014-countries
15. Comments:
• Neither the LPC nor NDP discuss either the Build Canada or Gas Tax fund, why? Goodale did say the Build Canada fund is not working, but he never
ever said that infrastructure projects carry over to multiple years, why? http://www.slideshare.net/paulyoungcga/municipalities-canada. BTW: What
party brought up CPPIB could be used to finance infrastructure projects? http://news.nationalpost.com/2015/01/23/kelly-mcparland-justin-trudeaus-
hidden-agenda/. Did the LPC not raid EI in the 1990s? http://www.cbc.ca/news/canada/martin-defends-employment-insurance-surplus-1.164131
• Mr. Harper continues to provide different programs that either existed under the LPC or were revamped under his watch. Mr. Goodale was quoted as
saying his party introduced SDTC, but never says how that program benefited green technology, why?
http://www.slideshare.net/paulyoungcga/federal-government-programs-canada or http://www.hazmatmag.com/remediation/federal-budget-
supports-environmental-technology-contaminated-site-cleanup/1000016105/. So, where does SDTC or Next Generation Fuel Funds stand with either
the NDP or LPC?
• LPC never talks about issues with provincial policies, why? The LPC is great saying it is all about money, but really they never once said how mining
regulations or skills trades or power rates or carbon taxes or other policies are impacting business investment, why?
http://www.canadianmanufacturing.com/manufacturing/mpp-chan-says-exporting-priority-ontario-liberals-142867/ or
http://www.theglobeandmail.com/report-on-business/economy/ontario-drives-manufacturers-away-with-overpriced-electricity/article14854752/. It
is never one policy that hurts business, so why is more not being said by the LPC? CPC have done great taxation, investment/trade/etc. or basically
federal policies! http://www.kpmg.com/ca/en/issuesandinsights/articlespublications/press-releases/pages/canada-remains-most-competitive-
business-tax-environment.aspx or http://www.slideshare.net/paulyoungcga/key-market-and-industry-indicators-for-canada-january-2015. The LPO
has also said the AG sector is important, but yet their policies have failed that sector: http://www.ofa.on.ca/media/news/connecting-with-cabinet-is-
first-order-of-business
• Trudeau - http://business.financialpost.com/fp-comment/terence-corcoran-finance-minister-joe-oliver-has-it-right
• Mulcair Corporate Taxation - http://www.macleans.ca/economy/business/tom-mulcairs-idea-on-corporate-taxes-sounds-scary/
• Paul Martin - https://www.policyalternatives.ca/publications/monitor/beware-canadian-austerity-model. Justin Trudeau talks about Harper being a
poor fiscal manager, but never once discusses the economic growth trends, why? http://www.multpl.com/us-gdp-growth-rate/table/by-year
•
Source: http://www.fin.gc.ca/afr-rfa/2014/afr-rfa-eng.pdf
2012-2013 and 2013-2014 were re-stated to reflect changes in debt reporting and/or sick leave
2012-2013 and 2013-2014 expenses where restated due to changes in reporting on OAS security, EI as well as other expenses
Government made changes in 2012 on how it stated different debt
Government made a one-time adjustment for sick leave
Government purchased net assets of $16B
Government expenses exceeded revenue by $134B
Source of Government of Canada
85% of the debt is due lower revenue and higher spending. The bulk of new spending came via increases to program spending as well as the stimulus