July 22nd, 2015

PBO report confirms Stephen Harper's 'Action Plan' isn't working

A New Democrat request to the Parliamentary Budget Officer has revealed that the Conservative’s so-called balanced budget is in deficit this fiscal year (2015-2016).

Earlier this week, NDP Finance Critic Nathan Cullen (Skeena – Bulkley Valley), wrote to the PBO asking for an update to Finance Canada numbers in the federal budget. The report shows that Conservative mismanagement will lead to a $1 billion deficit this fiscal year.

“This is further evidence that Stephen Harper’s plan isn’t working – shrinking GDP, private sector job losses, record household debt – and now a budget deficit,” said Cullen. “The conservatives staked their whole brand on a balanced budget while slashing services for Canadians – but they failed to build a balanced economy and will leave Canadians with another budget deficit.”

The New Democrats called on the Parliamentary Budget Officer earlier this week to provide an update on the state of eroding federal finances, based on the Bank of Canada’s projections which downgraded expected growth for the Canadian economy.

“It’s Canadians that are paying the price for Conservative mismanagement – families are working harder than ever, but still can’t get ahead,” added Cullen. “New Democrats have proposed measures to support innovation in manufacturing and investment in infrastructure and public transit that will boost our economy and create jobs for Canadians.”