Bob Zimmer is panning Monday’s federal budget, saying it falls short on helping the economy even with an unprecedented amount of spending.
“After waiting over two years for the Liberals to release a plan for jobs and the economy, I know many in our region are disappointed by what Justin Trudeau and his government have put forward,” the Prince George-Peace River-Northern Rockies MP said in a statement following the budget release. “Canadians want to get back to work. Instead of focusing on safely reopening our economy, the Liberals want to test an out-of-control debt plan without any real stimulus, one that abandons the natural resource sector entirely, and provides no real fiscal anchor.”
The budget, presented by Finance Minister Chrystia Freeland, proposes to extend business and income support measures through to the fall and to make investments to create jobs and help businesses across the economy come back. It will support almost 500,000 new training and work opportunities including 215,000 opportunities for youth; support businesses in our most affected sectors such as tourism and arts and culture; and accelerate investment in digital transformation of small and medium-sized businesses. Freeland claimed it create one million jobs by the end of the year.
“I am especially concerned about the $330 billion this budget will add to our national debt over the next five years as well as the financial harm this will cause Canadians now and in the future,” said Zimmer. “This year, for the first time in history, Canada’s national debt will pass $1.2 trillion. Not only that but interest costs to taxpayers will double from $20 billion in 2021-22 to almost $40 billion in 2025-26.”
Zimmer said he’s also concerned about the lack of infrastructure funding in the budget.
“I firmly believe that now is the time to invest in much-needed infrastructure, like replacing the Taylor Bridge, because these projects will help prepare us for success in the future,” he said. “It’s unfortunate that the Liberals have not made this type of funding a priority. This budget does nothing to secure long term prosperity for Canadians. This is 739 pages of spend, spend, spend that will only lead to higher taxes.”