$ 5,175 per second – this is the amount that the Montreal Economic Institute estimates that Canada’s federal debt is increasing every second. In other words, that’s $ 447 million per day.
Another report published by the CD Howe Institute presents the Liberal 2021 budget as risky and refers to the âsensitivity and fragilityâ of Canada’s financial situation. They predict that debt levels as a percentage of GDP will continue to rise, with Canada’s debt-to-GDP ratio rising to 60% by 2055.
The Prime Minister’s printing of money and his spending on favorite projects has resulted in higher and higher inflation, as I have written in the past. According to Statistics Canada, the inflation rate reached 3.1% in June, bringing the increase in the cost of living to a 10-year high.
After adding $ 500 billion to our debt in just two years with a lot of untargeted spending, this flood of cash is now pushing prices up. The cost of everything seems to be increasing for you and your family and yet the Liberals and their elite friends on Bay Street are not talking about it at all.
At the onset of the pandemic, we needed to provide support to those hardest hit quickly, and we need to continue to support the small business owners and nonprofits most affected. At the same time, I hear from countless business owners that some worker support programs create real challenges.
Business owners from many industries have reached out to me about their struggles to get employees back to work and to find new ones, despite the highest starting salaries they have ever offered. They tell me that some people participating in the government’s economic stimulus programs stay there rather than go to work or only want to work a day or two a week to maintain their government payments.
We need to show compassion and support for those really affected by the pandemic, especially in the hardest hit sectors, but the one-size-fits-all solution now in place is obviously no longer meeting its more ambitious goals.
These concerns were also reiterated to me during recent farm visits, where I was accompanied by the Official Opposition Shadow Minister for Agriculture and Agri-Food MP Lianne Rood (Lambton-Kent-Middlesex, Have.).
From orchards to wineries, industry representatives, fruit and herb farms, we spent several days visiting and listening to the real concerns that Kelowna-Lake Country farmers and growers are facing. faced. Many had strong policy and regulatory recommendations based on their experience in the field.
On another topic, due to the easing of border measures, more international flights will serve airports across the country, but not Kelowna International Airport (YLW). Although it has a higher passenger count than the Quebec City airport (which is on the reopening list) and is the 10th busiest airport in Canada, YLW was not supposed to reopen for flights. international.
The federal government’s announcement did not explain why the airports they chose to resume international air service, nor what specific data or metrics they are using to add additional airports in the coming months.
It is unfortunate, however, consistent with the way we have seen this federal government operate – with unclear benchmarks or metrics for their decision making.
It is difficult for all of our local organizations involved, from the airport and their operations to car rental, shuttle, taxi services and tour operators, when there is continually no clear plan disclosed, and I wrote to the Minister of Transport to ask for the justification.
With the sustained high heat and smoky skies our region has faced, it is important that we all stay safe and healthy. Be sure to check with your loved ones, especially those who may be at greater risk.
If you need help with federal programs or have any ideas to share, please feel free to contact us anytime.
PS By the time you finish this report, the federal debt will have increased by approximately $ 897,000.