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Corbella: Reckless federal budget burdens kids it claims to help
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Budget 2021’s Big Spend Has Some Goodies for Business but Leaves Debt Worries
Feds sending message that government rather than business can lead the recovery, says budget watcher
News Analysis
The Liberal government’s $101.4 billion new spend on COVID-relief and growth stimulus unveiled in the April 19 federal budget answers many questions posed last fall, but it still raises many concerns about its intent, timing, impact on economic growth, and the risky debt burden.
“They’re planning on government leading this recovery. They’re not looking for much support from the business sector,” Philip Cross, former chief economic analyst at Statistics Canada, told The Epoch Times.
Eventually, someone has to pay for all of this spending
Author of the article: Licia Corbella
Publishing date: Apr 20, 2021 • 3 hours ago • 5 minute read • Prime Minister Justin Trudeau, left, arrives with Deputy Prime Minister and Minister of Finance Chrystia Freeland as she prepares to table the federal budget in the House of Commons in Ottawa, on Monday, April 19, 2021. Photo by THE CANADIAN PRESS/Justin Tang
Article content
Apparently the promised $100 billion in stimulus infrastructure spending wasn’t enough for the federal Liberal government.
Despite warnings by numerous economists, think tanks and even Canada’s Parliamentary Budget Officer (PBO), Chrystia Freeland’s first federal budget, released Monday, promises an extra $101.4 billion on infrastructure spending over three years and that poses a grave risk to Canada’s fiscal health by massively increasing our debt and by pumping too much printed money into the economy.