NDP Leader Jagmeet Singh heads to the bus on the way to a campaign event in Burnaby, B.C. on Sunday, Sept. 29, 2019. THE CANADIAN PRESS/Andrew Vaughan

NDP Leader Jagmeet Singh heads to the bus on the way to a campaign event in Burnaby, B.C. on Sunday, Sept. 29, 2019. THE CANADIAN PRESS/Andrew Vaughan

VIDEO: Re-elected Liberals would still run big deficits, despite new taxes

Trudeau effectively saying “Canada will literally go on adding debt forever,” according to Tory critic

Justin Trudeau tried to make virtue out of red ink Sunday as he released a Liberal platform that promises to impose new taxes on wealthy individuals, large international corporations, foreign housing speculators and tech giants to help cover the cost of billions in new spending and tax breaks for the middle class.

Even with the new taxes, the platform projects another four years of deficits if the Liberals are re-elected on Oct. 21 — $27.4 billion next year, falling to $21 billion by the fourth year of the mandate.

But in a news conference at the University of Toronto’s Mississauga campus, Trudeau said he’s leaning in to the old tax-and-spend Liberal reputation to establish an important point of distinction from his arch-rivals.

“We are making a different choice than Conservatives do,” Trudeau said in response to repeated questions about the persistent Liberal deficit.

“We’re choosing to invest in middle-class Canadians, invest in people’s communities because, quite frankly, that is what has worked over the past four years. Responsible investments have led to the creation of over a million new jobs, most of them full time, and lifting 900,000 people, including 300,000 kids, out of poverty.

“Conservatives are still making the argument that the way to grow the economy is through cuts and austerity and tax breaks that go to the wealthiest. We disagree.”

Conservative Leader Andrew Scheer was taking a break from the campaign trail Sunday. But his finance critic, Ottawa MP Pierre Poilievre, told a news conference that Trudeau is effectively saying “Canada will literally go on adding debt forever.” He predicted that a re-elected Liberal government would wind up imposing “massive tax increases to fund this irresponsible and costly platform” that would add $56 billion in new spending over four years.

“He expects Canadians to believe that money falls out of the sky or grows on trees,” Poilievre scoffed.

In B.C., NDP Leader Jagmeet Singh spent a sixth straight day stumping for west-coast votes, promising a $100-million fund to help keep young people out of gangs and mitigate the growing problem of organized crime.

And in Vancouver, Green party Leader Elizabeth May said her party would introduce a “robot tax” if elected — a levy to be paid by a company every time it replaces a worker with a machine, part of a strategy to ease the impact of the growth of artificial intelligence.

READ MORE: Trudeau, Scheer navigate climate marches that dominate federal campaign

But Sunday was mostly about the Liberal platform, which Trudeau described as a “fiscally responsible” plan under which the Canada’s debt-to-GDP ratio — already the best among G7 countries, at 30.9 per cent — would decrease every year of a second mandate. As well, he said Canada will retain its triple-A credit rating, shared with only one other G7 country: Germany.

According to the platform, the proposed new taxes, combined with revenue from the Trans Mountain pipeline expansion project, would fatten federal coffers by $5.2 billion in the first year, rising to $7.2 billion in the fourth year.

But the extra monies would be eclipsed by 48 new spending and tax break initiatives for the middle class, which the platform estimates would cost $9.3 billion next year, rising to nearly $17 billion by the fourth year of a second mandate. The platform does not, however, include costing for several promises, including the promise to introduce a national pharmacare program which Trudeau said will have to be negotiated with the provinces.

Joan Bryden, The Canadian Press

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Executive Director and Co-Founder of Rock Soup Craig Haavalsen is sleeping in a tent outside Rock Soup’s location until the Go Fund Me for Rock Soup raises $10,000. Shaela Dansereau/ Pipestone Flyer.
Putting normalcy into asking for help: New non-profit sets up in Wetaskiwin

Rock Soup non-profit is a new non-secular Food Bank putting down roots in Wetaskiwin.

Alberta’s chief medical officer of health, Dr. Deena Hinshaw, confirmed eight additional virus-deaths Monday afternoon including one in central zone. (Photo by Chris Schwarz/Government of Alberta)
New record: Red Deer at 236 active COVID cases

One more death in central zone reported

file photo
County of Wetaskiwin Land Use Bylaw amendments approved

Ammendments approved by Wetaskiwin County Council at Nov. 24, 2020 Council meeting.

City of Wetaskiwin kicks off “Light Up Wetaskiwin” with light display at Wetaskiwin City Hall. Shaela Dansereau/ Pipestone Flyer.
Making spirits ‘bright’: Light Up Wetaskiwin contest kicks off

Up to $3000 in cash prizes available to the top 11 decorated homes and businesses.

Alberta had 1,571 active COVID-19 cases on Tuesday. THE CANADIAN PRESS
Alberta’s central zone now has 1,101 active COVID-19 cases

Provincial death toll has risen by nine

Idyllic winter scenes are part of the atmosphere of the holiday season, and are depicted in many seasonal movies. How much do you know about holiday movies? Put your knowledge to the test. (Pixabay.com)
QUIZ: Test your knowledge of holiday movies and television specials

The festive season is a time for relaxing and enjoying some seasonal favourites

(Black Press File Photo)
Rimbey woman gathering Christmas gifts for seniors at Valleyview Manor

Margaret Tanasiuk says she doesn’t want anyone to feel forgotten on Christmas morning

Paramedics register patients at a drive through, pop-up COVID-19 test centre outside the Canadian Tire Centre, home of the NHL’s Ottawa Senators, in Ottawa, Sunday, Sept. 20, 2020. A new poll suggests most Canadians aren’t currently worried that people in other countries might get a COVID-19 vaccine first. THE CANADIAN PRESS/Justin Tang
Canadians not worried other countries will get COVID-19 vaccine first: poll

Forty-one per cent of respondents say they want the vaccine to be mandatory for all Canadians

Fossil finds at Mt. Stephen. (Photo: Sarah Fuller/Parks Canada)
Extreme hiking, time travel and science converge in the Burgess Shale

Climb high in the alpine and trace your family tree back millions of years – to our ocean ancestors

Deputy Prime Minister and Minister of Finance Chrystia Freeland listens to a question from a reporter on the phone during a news conference in Ottawa, Monday, Nov. 30, 2020. THE CANADIAN PRESS/Adrian Wyld
Spending too little worse than spending too much, Freeland says as Canada’s deficit tops $381B

‘The risk of providing too little support now outweighs that of providing too much’

Lawyer Devon Page, Ecojustice Canada’s executive director, pauses during a news conference in Vancouver on Wed., Sept. 26, 2012. The environmental law group has lost its bid to pause Alberta’s inquiry into where critics of its oil and gas industry get their funding. Ecojustice sought an injunction this summer to suspend the inquiry, headed by forensic accountant Steve Allan, until there is a decision on whether it’s legal. nbsp;THE CANADIAN PRESS/Darryl Dyck
Judge tosses application to pause Alberta inquiry into funding of oil and gas foes

Ecojustice sought an injunction in the summer to suspend the inquiry

Janelle Robinson owns and operates Spirit’s Respite Ranch near Stettler. The Ranch, just north of Stettler, is an animal therapy ranch that helps those with special needs and conditions ranging from PTSD to anxiety. Mark Weber/Stettler Independent
Spirit’s Respite Ranch near Stettler provides support through animal interaction

‘I also come from a family of doers - if something that is needed isn’t there, you just figure it out’

A pedestrian makes their way through the snow in downtown Ottawa on Wednesday, Nov. 25, 2020. THE CANADIAN PRESS/Sean Kilpatrick
Wild winter, drastic swings in store for Canada this year: Weather Network

In British Columbia and the Prairies, forecasters are calling for above-average snowfall levels

NDP Leader John Horgan, left, speaks as local candidate Ravi Kahlon listens during a campaign stop at Kahlon’s home in North Delta, B.C., on April 18, 2017. THE CANADIAN PRESS/Darryl Dyck

Most Read