Unfortunately a deficit is likely needed right now. Whether that could have been avoided if the Conservatives had not cut taxes when times were good is moot -- we have to look at the reality now and that suggests a time for deficit spending.
Throne speech warns of deficit, government cutbacks
Gov. Gen. Michaelle Jean unveiled the Harper government's five-point plan to protect Canada from the global economic meltdown in the speech from the throne.
The plan focused on cutting costs and didn't rule out a deficit -- a far cry from last year's throne speech, which was focused on using big surpluses for tax cuts.
Jean said it would be "misguided to commit to a balanced budget at any cost," a sign that Prime Minister Stephen Harper's budget may be headed for the red this year.
The speech repeatedly mentioned the importance of "prudence" and said the government would put department spending "under the microscope."
"Hard decisions will be needed to keep federal spending under control and focused on results," the speech says. "Departments will have the funding they need to deliver essential programs and services, and no more. Our government will engage Parliament and encourage members to take a more active role in scrutinizing spending and suggesting areas for restraint."
Liberal Leader Stephane Dion said his party is focused on making Parliament work and will not oppose the throne speech.
"As there is nothing new in this throne speech, it would be irresponsible to bring the government down on this," Dion told reporters.
But Dion criticized the Harper government, saying that they have overspent in their three years of office and have cut the wrong taxes.
Liberal MP Michael Ignatieff told CTV's Mike Duffy Live the Bloc and NDP don't have the burden of bringing down the government and said Canadians don't want the Liberals to trigger an election.
Ignatieff said the Liberals would fight any Tory cuts that affect the living standards of Canadians.
Full story here: http://news.sympatico.msn.ctv.ca/abc/home/contentposting.aspx?isfa=1&feedname=CTV-TOPSTORIES_V3&showbyline=True&newsitemid=CTVNews%2f20081119%2fthrone_speech_081119
Gov. Gen. Michaelle Jean unveiled the Harper government's five-point plan to protect Canada from the global economic meltdown in the speech from the throne.
The plan focused on cutting costs and didn't rule out a deficit -- a far cry from last year's throne speech, which was focused on using big surpluses for tax cuts.
Jean said it would be "misguided to commit to a balanced budget at any cost," a sign that Prime Minister Stephen Harper's budget may be headed for the red this year.
The speech repeatedly mentioned the importance of "prudence" and said the government would put department spending "under the microscope."
"Hard decisions will be needed to keep federal spending under control and focused on results," the speech says. "Departments will have the funding they need to deliver essential programs and services, and no more. Our government will engage Parliament and encourage members to take a more active role in scrutinizing spending and suggesting areas for restraint."
Liberal Leader Stephane Dion said his party is focused on making Parliament work and will not oppose the throne speech.
"As there is nothing new in this throne speech, it would be irresponsible to bring the government down on this," Dion told reporters.
But Dion criticized the Harper government, saying that they have overspent in their three years of office and have cut the wrong taxes.
Liberal MP Michael Ignatieff told CTV's Mike Duffy Live the Bloc and NDP don't have the burden of bringing down the government and said Canadians don't want the Liberals to trigger an election.
Ignatieff said the Liberals would fight any Tory cuts that affect the living standards of Canadians.
Full story here: http://news.sympatico.msn.ctv.ca/abc/home/contentposting.aspx?isfa=1&feedname=CTV-TOPSTORIES_V3&showbyline=True&newsitemid=CTVNews%2f20081119%2fthrone_speech_081119
No comments:
Post a Comment