Public Finances | Trudeau refuses to commit to a balanced budget

(Ottawa) Prime Minister and Liberal leader Justin Trudeau on Friday again refused to commit to presenting a plan to return to balanced budgets even if a resolution by his party’s Quebec wing is passed by members assembled in Congress.




“The most important thing for me is to create a strong and resilient economy in which we can continue to invest and create good jobs. We know it’s important to demonstrate fiscal responsibility, which we still do,” Mr Trudeau replied to a press crowd.

He has repeatedly avoided answering questions directly from journalists trying to clarify whether passing the resolution or not is a priority for him.

Instead, Mr. Trudeau reiterated what is becoming a mantra: that Canada has the lowest deficit in the G7, the lowest debt-to-GDP ratio in the G7, and is one of the top three countries in the world with a AAA credit rating.

However, these arguments clearly do not convince the Quebec activists, whose resolution does not follow four paths. She demands that the Liberal Party of Canada adopt a “quantified and clear proposal” to return to a balanced budget and that it be “part of the party’s electoral platform” for the next election.

Members explain in the preamble that public debt has risen from 30% of GDP in 2015-2016 – when the Liberals came to power – to almost 50% in 2021-2022, “concerning many Canadians”. although it remains “proportionally appropriate”. compared to other major countries in the world.

They also note that when choosing a party to govern the country in the next election, Canadians are “likely to place a lot of importance” on the existence of a program to reduce debt and return to balanced budgets.

In its latest budget, presented last March, the Trudeau government abandoned its forecast of a return to balanced budgets in five years.

On Friday morning, Mr. Trudeau put the weight of the Quebec wing’s motion into perspective, believing it was just one of the many resolutions that would spark “great debates among Liberals” and that would be voted on Saturday.

“We will look at what the recommendations and the perspective of the party and its activists will be,” he said without making a commitment.

The delegates present at the congress have to vote on about thirty resolutions. Some are proposing lowering the minimum voting age to 17, introducing a guaranteed basic income and introducing an electric high-speed train on the Quebec City-Windsor corridor.

The National Convention of the Liberal Party of Canada lasts until Saturday.

Tyrone Hodgson

Incurable food practitioner. Tv lover. Award-winning social media maven. Internet guru. Travel aficionado.

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