By Canadian Taxpayers Federation —— Bio and Archives--March 29, 2023
OTTAWA, ON: The Canadian Taxpayers Federation is criticizing Finance Minister Chrystia Freeland’s budget for raising taxes and running deficits indefinitely.
“This budget is giving taxpayers big deficits, more money wasted on interest charges and higher taxes,” said Franco Terrazzano, Federal Director of the CTF. “This government doesn’t care about fiscal prudence or helping taxpayers.”
The deficit is expected to reach $40 billion in 2023, which is almost $10 billion higher than forecasted in the fiscal update. There is no plan to balance the budget.
The government overspent its own 2022 budget by $18 billion.
The government is promising to find $3.95 billion in savings in 2023, but total spending is still increasing by another $20 billion in 2023 to $490.5 billion.
“If you’re spending more money, you’re doing a bad job of finding savings,” Terrazzano said.
The debt will total $1.2 trillion by the end of 2023. Interest charges on the debt will cost taxpayers almost $44 billion in 2023. Interest charges will reach $50 billion in 2027.
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By Jesse Brogan on 2023 03 30
Under the laws of Legal Agency, if debts are incurred by the Agent, but not authorized or accepted by those represented, the debt goes personally to those representatives that incurred it.
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