Help Us ! Deliver us
from carnage Carney
When the Government of Canada finally delivers a financial statement (Budget) on Nov. 4, Prime Minister Mark Carney will reveal his priorities and decide his destiny. The Interim Parliamentary Budget Officer, Jason Jacques, has announced an expected $68 billion deficit for fiscal year 2025, up from $51 billion in 2024. The Liberals would like to blame U.S. President Donald Trump for these horrific numbers, but the previous government racked up these deficits before Trump regained the presidency.
Tariffs, shifting trade rules, and economic uncertainty don’t help, but as Ted Morton pointed out in the National Post (September 25, 2025 – First Six Months of Disappointment), “Let’s start with the big numbers. Unemployment sits at 7.1 percent, with 66,000 jobs lost in August and 41,000 jobs lost in July. Grimmer still, youth unemployment is off the charts, hovering around 14 per cent. After a decade with almost no economic growth, 2025 has seen the economy actually start to shrink.” These numbers demand bold steps and immediate action. Instead, Carney is approaching the problems facing Canada’s economy with timidity.
Carney finds the Trudeau numbers revolting, but he can change them. He does not have to add to the mess. At one point, Carney stated that immigration had occurred too quickly, resulting in spending that increased at a nine per cent annual rate. As he has transitioned from banker to politician, he sounds vague, less determined, and uncertain about what to do. Liberals brought Canada the worst economic growth since the Great Depression, and Carney should know that growing deficits and a contracting economy are bad news for individual investors, workers, and the country at large. Still, it’s rare to find a cabinet minister who admits their ministry needs to rein in spending.
Debt servicing costs are now $53 billion, and the growing deficit will add to it. Fiscal anchors appear to have vanished. Carney’s transition to a politician has blinded him to fiscal realities. His party, after a fourth straight election victory, continues to grow fatter and more complacent.
A nation cannot welcome immigrants at a pace faster than the economy can grow. Overall budget numbers tell the same story. Under Trudeau, costs rose at nine per cent per year, and Carney has done nothing to address the problem. Carney lacks the stomach for a bloody budget battle with his caucus or the party insiders. He would rather try to use smoke and mirrors, hiding expenses, playing shell games with the numbers, and prescribing short-term solutions that avoid tough choices.
Will the media make the Conservatives’ reality checks enduring? If Carney gets a pass from the House, once Conservative Leader Pierre Poilievre has taken them to task, and the media continue to cheerlead because Carney stands against Trump, where will that leave Canada fiscally?
The country still needs to beef up its defence spending after making pledges earlier this year. That will not happen if the public service cuts wait on attrition. Nor will a gun buy-back program work. It will be costly and unhelpful, another dizzy progressive scheme to feel good while accomplishing nothing.
Definitive and extraordinary steps need to be taken to get
Canada’s financial house in order. If
Carney continues to vacillate about developing the resource economy in Canada,
he will jeopardize Canada’s future. He
will abandon Canadians’ need for strong leadership and betray his promise to
renew our national vision.
The natural resources sector faces declining growth. In the second quarter of 2025, forestry dipped by almost five percent and energy by over two. These are not good numbers. Job creation faces challenges, and the prime minister’s actions have not matched his words.
Carney has promised coherence and clarity in the economy. So far, he sounds muddled and acts tentatively. Canadians expected more when they gambled on the Liberals and their new leader in the spring. Carney has a lot riding on the budget he presents in the House next month.
Read the full original article “A lot riding on Carney’s budget - by Dave Redekop” at
https://niagaraindependent.ca/a-lot-riding-on-carneys-budget/
No comments:
Post a Comment