Skip to main content

“I am a Canadian, free to speak without fear, free to worship in my own way, free to stand for what I think right, free to oppose what I believe wrong, or free to choose those who shall govern my country. This heritage of freedom I pledge to uphold for myself and all mankind.” ~~ John G. Diefenbaker

Cathy McLeod: Federal Budget 2021 -- Big spending not a recovery plan


Having a federal budget that continues emergency COVID supports for individuals and businesses is critical, as the pandemic remains unchecked.

The Conservatives have always supported these benefits for obvious reasons. But after waiting two years for the Liberals to table a budget, to learn they are forecasting a deficit of $154.7 billion for 2021-22, and accrued a deficit of $354.2 billion in 2020-21, is beyond disappointing.

To put this into understandable terms, this means the average family now owes $77,000 in federal debt, a burden of $33,000 on every individual in Canada.

This is more debt than all the previous governments of Canada took on in the 150-year history of our nation.

It’s an election-style budget focused on spending, rather than a meaningful plan for recovery that reopens our economy and serves the best interests of Canadians.

I worry how we are going to pay for this out-of-control debt plan without any real stimulus.

The attention-grabbing national child-care program is something the Liberals have been promising for probably 20 to 30 years now, so I meet that proposal with a bit of skepticism. And closer to home, I wonder how the 1% tax on vacant property owned by non-residents is going to impact communities like Sun Peaks.

Many economists have advised that the extra $101.4 billion in promised stimulus spending is unnecessary because the economy is rebounding faster than expected.

What amendments the other parties propose remains to be seen, but I know the Official Opposition will be carefully reviewing and analyzing the 700-page document.


If budget approved:

  • Extends EI sickness benefits to 26 weeks (previously 15 weeks).
  • Adds 12 weeks to Canada Recovery Benefit (CRB) to a maximum of 50 weeks. After July 17, the benefit drops to $300/week (from $500/week).
  • For businesses, extends CEWS and the rent subsidy programs until September 25th
  • A one-time payment of $500 this August for OAS recipients who will be 75 or older as of June 2022.
  • Luxury tax on new cars and private aircraft valued at more than $100,000 and boats worth over $250,000.
  • Carton of cigarettes to rise by $4.


To read the entire Budget 2021: https://www.budget.gc.ca/2021/home-accueil-en.html

 


Labels:

Comments

Post a Comment

Popular posts from this blog

FORSETH: Without a strong local presence, there is NO reason for anyone to tune in to local(?) radio

LOCAL HOMETOWN RADIO IS DYING … and without serious measures put in place, it will likely never see the light of day again. For well over four decades, the Canadian Radio and Television Commission (CRTC) has presided over its’ demise, and for that I say, “Shame”. Without out a word to say enough was enough, the CRTC has allowed corporate Canada to buy up one radio station after the other, and then allowed them to slash staff to the point where some so-called local radio stations do nothing more than air programming that originates from communities well outside the region in which they are located. Case in point?   On CHNL* 610 in Kamloops, the morning show hosted by Vinnie and Randi, DOES NOT originate from Kamloops -- it doesn’t even originate here in BC. It’s a program that Stingray airs across multiple radio stations in Western Canada. It doesn’t end there. Not only are Vinnie and Rando doing mornings on CHNL, but they also show up on sister station Country 103 … and of course o...
5 comments
Read more

Conservative Economic Team Responds to Urgent Industry Concerns

 " For far too long, the BC NDP has ignored the economic challenges facing British Columbians. Manufacturing jobs are vanishing, forestry is in decline, and private sector employment growth has stagnated. Meanwhile, affordability has worsened for both families and businesses. British Columbians deserve better, and we’re here to deliver real solutions to rebuild our economy and create jobs that support everyday working people and their families ." – Gavin Dew, MLA and Shadow Minister for Jobs, Economy, Development, and Innovation.   December 3, 2024, Vancouver, BC – The Conservative economic team met today with business leaders and stakeholders to tackle critical issues impacting British Columbia’s economy. Attended by 9 critics from the Conservative Caucus, this meeting was convened by MLA Gavin Dew – Shadow Minister for Jobs, Economic Development, and Innovation - as a direct response to an October 30th open letter from seven of the province’s largest industry associations. ...
Post a Comment
Read more

WARD STAMER -- We need certainly in our markets, and certainly in our fibre supply, before we no longer have a forest industry in this province

Image Government of BC I think we all realize that the threat of Trump’s 25% tariff is like other provocative statements he’s made in the past. That said, we should have reason to be concerned. Tariffs don’t benefit anyone. A tariff of that magnitude – included on our own softwood lumber exports, will make things more expensive for Americans, and cause friction in the supply chain. If imposed, a twenty-five percent tariff will be equally detrimental to the citizens and economy of the United States, as well as the people of BC. There are two things, however, of equal concern to the threat of punitive tariffs by incoming U.S. President-elect Donald Trump. One is our antiquated stumpage fees. It is a legacy from decades ago, and one incapable of responding to changing market conditions. We need to revamp our stumpage system to better reflect market conditions, and our economic costs. Instead, a value-added tax system will be instantly responsive to current market conditions and will encou...
Post a Comment
Read more

Labels

Show more