Kamloops (July 8, 2020): Today Cathy McLeod, Member of Parliament for Kamloops-Thompson-Cariboo, responded to the “snapshot” of Canada’s financial situation presented by the Finance Minister in the House of Commons:
“Today’s economic ‘snapshot’ from the federal Liberals failed to give Canadians a plan for getting back to work, or for restarting our economy,” MP McLeod said. “The debt-to-GDP ratio is rising, the deficit has exploded to $343.2 billion, and the Liberals have completely lost control over the federal debt which for the first time will reach over $1 trillion.”
“This is not just a result of the pandemic. Trudeau’s sky-high taxes, wasteful spending and massive deficits put Canada in an incredibly weak position before the pandemic began,” stated MP McLeod. “His government added $87 billion of debt during their first four years in power, and as a result, Canada is the only G7 country to have lost its AAA credit rating, and has one of the highest debt levels in the AA category.”
“Before the economic snapshot was released, Conservatives put forward a practical suggestion, the Back-to-Work Bonus, so that workers could earn higher wages without being penalized by losing access to the Canada Emergency Response Benefit. We were completely ignored by the Trudeau government,” said McLeod. “We know we need to support small businesses, lower taxes, cut red tape and make our country an attractive place to do business again.”
“Conservatives, including myself, will continue to advocate for Canadians to get the help they need, and call on the Trudeau government to put forward a transparent plan to guide Canada’s recovery,” Cathy McLeod concluded.