MP Larry Miller Reacts to Fall Economic Statement

October 25, 2017

MP Larry Miller Reacts to Fall Economic Statement

 

Ottawa, ON – Yesterday, the Honourable Bill Morneau, Minister of Finance, released the Federal Government’s Fall Economic Statement 2017. Larry Miller, Member of Parliament for Bruce-Grey-Owen Sound, is disappointed that the statement confirms that the Federal deficit will remain double what was promised in the 2015 election and that Canada will take on approximately $100 billion in new debt over the next 7 years.

 

The Update of Economic and Fiscal Projections (Fall Economic Statement) precedes the Federal Budget, which is usually tabled early in the following year. The statement provides an overview of fiscal policies and the state of the Canadian economy. The 2017 statement reinforced that Canada will continue to run deficits for the foreseeable future and that the deficit for the 2017-18 fiscal year will be $19.9 billion – more than double the size of the deficit promised in 2015.

 

Furthermore, the economic statement confirmed that over the next 7 years, the Government will take on approximately $100 billion in new debt. This is despite significant tax increases by the Federal Government.

 

“The 2017 Fall Economic Statement has confirmed what many Canadians know to be true – this Government has a spending problem,” said Miller. “Since this Government took office, 80% of middle-class Canadians are paying more in taxes and this Government still is unable to balance the books and continues to take on more and more debt. We all know that the economy is growing despite the Government’s failed economic policies – not because of them.”

 

For more information on the Fall Economic Statement 2017 please visit; http://www.budget.gc.ca/fes-eea/2017/docs/statement-enonce/toc-tdm-en.html.

 

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