Terence Corcoran: Election highway to economic slowdown
|National Post 15 Sep 2021 at 09:42|
If all goes according to the “fully costed” fiscal plan in the Trudeau Liberal party platform, the federal debt will hit at least $1.4 trillion in 2025/6, roughly $35,000 for every Canadian and about $140,000 for the proverbial family of four. In 2019, federal debt per capita stood at about $20,000 or $80,000 per family. How many Canadians will experience a 75 per cent increase in income over these years — or their lifetimes — to help pay for the debt?
It’s not just a Liberal thing. As the federal election battle continues, Canadians face a political race between two leading parties dedicated to a massive expansion of government intervention and spending, the impact of which is highly likely to lead to slower growth and weak gains in personal and family income.