Liberal Spending Driving Inflation
[:en]Take a look in your wallet or purse. If you can pull together five dollars, it might interest you to know that one in every five dollars in Canada did not exist prior to 2020.
According to recent numbers from the Bank of Canada, the number of dollars in circulation rose by 22% since 2020 when Justin Trudeau, Chrystia Freeland and Bank of Canada Governor Tiff Macklin started printing money to cover the Liberal Government’s out of control spending.
The Liberals were already running staggering deficits prior to the outbreak of the Coronavirus. When COVID-19 hit, they saw an opportunity to take advantage of the situation and radically alter the social and economic fabric of Canada. Now, Canadians are paying the price.
Between March of 2020 and April of 2022, the Trudeau government has added $576 billion in new (deficit) spending.
Let’s be clear, while they have certainly raised taxes on Canadians, they did not raise taxes by $576 billion to cover all that spending. First, they borrowed and then, when they couldn’t borrow anymore, they had the Bank of Canada print money to cover the cost of Justin Trudeau’s overspending.
Contrary to the convoluted verbal gymnastics of Finance Minister Freeland, basic economics are actually pretty simple. If you have more supply than demand, the value of a product goes down. If you have more demand than supply, the value and (by extension) the price of a product goes up. Money works much the same way. The more money out there, the less it’s worth. The Bank of Canada’s job is to prevent inflation by controlling how much money is released into the economy. In other words, their job is to preserve the value of our money. By printing—in reality, electronically creating—billions in new money, the Bank has failed, spectacularly, in their mandate. As a result, Canadians have seen the value/buying power of their money decrease, significantly, and, by natural extension, the prices of products increase, dramatically.
Let’s be clear: the government can make all the excuses they want (COVID-19, Ukraine, etc.), blame for the current inflation can be laid squarely at the feet of three people, Justin Trudeau, Chrystia Freeland and Tiff Macklin.
Canadians are struggling to make ends meet. Many parents are skipping meals to feed their kids. Many can’t afford to fill the car with gas or buy groceries. All because of the disastrous fiscal policies enacted by Justin Trudeau and executed by Freeland and Macklin.
Now, as the specter of COVID-19 quickly fades, instead of getting Canada’s financial house in order, they are doubling down on their failed policies.
Instead of easing the tax burden on Canadians, they have chosen, instead, to raise taxes.
The effects of inflation on Canadian families, seniors etc. has been exacerbated by Liberal Tax increases, chief among them the Liberal Carbon Tax—a tax on everything. April 1st of next year the carbon tax will again increase and by 2030 Justin Trudeau’s Carbon Tax will have added a staggering 37.57 cents per liter of fuel, not to mention significantly pushing up the price of groceries, home heating etc.
Other Liberal tax increases like the payroll tax increase proposed on CPP and EI premiums, small businesses and farmers pay, will only serve to make things worse for Canadian consumers.
Conservatives will oppose any new taxes.
Our leader has called for the head of the Bank of Canada to be fired and proposed putting in place a dollar-for-dollar program for government spending—for every dollar of new government spending, the government must find a dollar of savings within government.
We will facilitate a climate that attracts investment, where Canadian businesses can grow and thrive.
We will repeal Justin Trudeau’s inflation-driving Carbon Tax.
Only Conservatives are committed to getting Canada’s finances in order and only Conservatives can deliver.
Canada’s Conservatives are the only party who understand the kitchen table issues facing Canadians. We are the only party listening to Canadians, and we are the only party who can defeat Justin Trudeau.