For months now, Liberal leader Justin Trudeau has faced criticism for not putting out an economic plan. This accusation has left him open to Conservatives harping on the point that he had a weak alternative plan for the economy. He has been pilloried for his out-of-context statement that “the budget will balance itself”.
But now that the Conservatives have put out their election year budget, Justin Trudeau came out vowing to reverse the Tories’ plan to almost double the maximum amount Canadians can sock away in their tax-free savings accounts.
What’s more is he is promising that the Liberals would balance next year’s budget should they win this fall’s election.
Other elements of his economic plan which has been revealed over time is the scrapping of the government’s income-splitting measure and rolling back the age of eligibility for old age security to 65 from 67 — while steadily resisting pressure to reveal platform proposals.
Meanwhile not to be outdone, NDP Leader Tom Mulcair has unveiled plans over the last few months to raise the federal minimum wage to $15 per day and start a $15-a-day child care program, All that will be possible because of his plan to raise corporate taxes and cut small business taxes. Critics charge that higher corporate taxes will make it harder to convince businesses to set up in communities and will have an adverse effect on job creation.
“It’s a well-established fact. Liberals balance budgets. Conservatives have been running deficits,” Trudeau said.
And no, a Liberal budget won’t balance itself!