Conservative costing plans aim to reduce deficits by 85% over the next five years

The Conservative Party announced the costing of the 2021 Platform on September 8 and promised to reduce the federal budget deficit without reducing government programs.

Conservative Cost accounting plan We aim to reduce the deficit from $ 168 billion this year to less than $ 25 billion by 2025-26 by 85%. According to the plan, the conservative platform promise will initially add $ 30 billion to the projected budget deficit of $ 138.2 billion this year. After that, the deficit will decrease year by year.

“Even without the additional growth that results from the plan, the Conservatives run a disciplined government that limits future spending growth, so no reductions are needed,” according to costing documents.

The costing, produced by the Government’s financial oversight body, the Parliamentary Budget Officer (PBO), was released just hours before the debate of French leaders.

so Press conference Mr. Outur, who was held before the summit, told reporters that the election had limited time to implement economic policy due to Trudeau’s sudden election call.

“It was a process set up by Trudeau. We didn’t have access to the PBO until the campaign started,” said Autour.

The Conservative Party’s economic recovery plan describes several ways to improve Canada’s economic performance. This includes a $ 5 billion investment in Canada’s leading research institutes, which will increase GDP by 0.6% to 1.6% over the next five years, based on PBO assumptions.

Canada’s $ 7.6 billion employment surge plan also creates an estimated 180,000 jobs. An annual investment of $ 5.6 billion in Canadian worker benefits will also increase employment by 0.5%, or about 95,000.

The Conservatives are also aiming to increase business investment by 2% over four years through $ 13.8 billion in Canadian investment accelerators.

Due to regulatory reforms and reduced trade barriers between states, Canada’s GDP will rise by 1% over five years.

The document states plans to exclude some programs from the Liberal Party, including the $ 2 billion allocated to “natural climate solutions” over a five-year federal budget in 2021. It will be reassigned to a conservative $ 1.5 billion project.

The Conservatives will also cancel Trudeau’s universal childcare program and release $ 26.7 billion. It will be partially used to fund the Conservative’s refundable tax credits, which cover up to 75% of childcare costs for low-income households.

Andrew Chen

Andrew is a Toronto-based reporter.