Parliament resumes today and Conservatives are focused on the faltering economy. Our Opposition Day motion requests documents used by the government to make financial decisions.
The fact is that the economy was grinding down before COVID-19, before the blockades, and before this weekend's precipitous drop in the price of oil. In the last quarter, we saw the worst growth in 4 years. Yet the government kept spending with no outcomes to show for it. This has reduced Canada's fiscal capacity to respond to these unanticipated crises.
The deficit has ballooned to $28 B, and $100 B will be added to the debt by the end of this year. This is unsustainable.
Conservatives will be recommending budget measures to reverse this slide, including:
1. tax cuts to workers and entrepreneurs to incent investment and work;
2. a reasonable plan to phase down the deficit and reassure investors;
3. a Two-for-One Rule to reduce red tape;
4. an end to unnecessary handouts to profitable but favoured corporations like Loblaws and Mastercard; and
5. a general effort to reduce wasteful spending (see The Waste Report that I posted Friday). https://thewastereport.ca/
The exact wording of the Motion is:
That an order of the House do issue for any document prepared by any department, agency and Crown corporation since November 4, 2015, discussing warnings or concerns of economic downturns, their potential impact on the fiscal framework, or advice or recommendations on how to deal with them; and that the documents be provided to the House within 45 days following the adoption of this motion.