Press release - PPC Government will eliminate deficit in four years and then cut taxes

Montreal, QUEBEC, August 23, 2021 – The Leader of the People's Party of Canada, Maxime Bernier, promised today that a PPC government would aggressively cut spending in order to eliminate the deficit within a first mandate. This would allow taxes to be cut during a second mandate. He made this commitment at a press conference with candidates in the Montreal area.

Statement by Maxime Bernier:

“Canada’s public finances are in a disastrous state. Under the Trudeau Liberals, spending, deficits, and the national debt are exploding. Justin Trudeau exploited the covid crisis to create a whole series of expensive new programs, and permanently increase the size of government. In 2020-2021, the Liberals recorded a $354 billion deficit, and Canada’s net debt surpassed $1 trillion for the first time.

All the other parties supported the Liberals’ massive spending and none of them is committed to reducing the size of government. This is utterly irresponsible. When another recession hits, or interest rates start to rise, the federal government will be in a precarious fiscal situation and could lose control of its finances.

Instead of buying votes with borrowed money, a responsible government should aggressively cut spending, balance the budget as quickly as possible, and then lower taxes in a prudent manner to put money back into Canadians’ pockets.

A People’s Party government will phase out all covid spending programs and reverse new programs announced by the Trudeau government; get rid of the deficit by the end of a first mandate through spending cuts and fiscal prudence; and cut personal income taxes, corporate taxes, and abolish the personal capital gains tax after the deficit has been eliminated, as the fiscal room is found to allow it.”

The People’s Party’s updated platform on public finances is available here.

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