Taxpayers Federation releases balanced budget plan

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CTF Federal Director Kevin Gaudet met with Finance Minister Flaherty this past week to present him with the CTF pre-budget recommendations entitled Zero in Two: Taxpayers Deficit Action Plan. Gaudet said, “federal plans for deficit elimination are too timid. Better fiscal health means shedding some spending.” In releasing Zero In Two the CTF outlines detailed measures for balancing the federal budget. They include: Reduce program spending by $18 billion below 2010-11 levels in addition to curbing spending growth. This returns program spending to levels seen between 2008-09 and 2009-10.

• Eliminate corporate welfare, regional development agencies, bio-fuel subsidies, most arts and language subsidies and other select grants and contributions.
• Privatize Atomic Energy of Canada, Canada Post’s Purolator Courier and VIA Rail. Also, end taxpayer support for the CMHC and Canada Post.
• Reduce most departmental budgets by 10-25% and freeze remaining budgets for two years.
• Reduce the Equalization Program by 10% annually for two years and assist recipient provinces in paying down respective debts in lieu of cash-transfers.
• Pass a Taxpayer Protection Act to ban future deficits and tax increases without an explicit mandate to do so given in an election or referendum.
• Pass a Debt Retirement Act with a schedule for making Canada debt-free.
• Prevent a further EI payroll-tax hike by eliminating non-insurance based EI programs.
• Eliminate the Vote Tax – per vote subsidy.

To read the complete report click here. Gaudet concluded, “Right now, the government is borrowing $124 million a day. This needs to be zero quicker than planned. Balancing the budget is going to take some heavy lifting. All MPs are responsible for getting us into this position, so they will all need to set aside partisan games and pork-barrel spending to get us out.”

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