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Trudeau Liberals Burden Next Generation with Debt Bomb 

April 17, 2024 

FOR IMMEDIATE RELEASE 

OTTAWA, ON: Conservative Member of Parliament for Peace River – Westlock, Arnold Viersen issued the following news release regarding the tabling of the 2024 Federal Budget: 

“After 9 years, Justin Trudeau’s budget is just more of the same that got us into this mess. Inflationary spending continues to add to the ever-increasing inflationary deficit,” said MP Viersen. “This is saddling all Canadians, especially the younger generation, with record levels of debt. The Toronto Sun editorial board appropriately described Trudeau’s budget as a ‘debt bomb’.”  

Key highlights from the 2024 budget include:  

  • $52.9 billion in new spending over the next five years. 
  • $40 billion deficit this fiscal year, with no plan to balance the budget. 
  • $54.1 billion is the cost to service the growing national debt – $2 billion more than projected in the fall. 
  • $1.25 trillion is the new total of Canada’s national debt.. 

“Yesterday, the Finance Minister boasted that her budget would ‘continue to stick to a responsible fiscal plan’ by ‘maintaining the 2023-24 deficit at or below $40.1 billion,’” stated MP Viersen. “This Liberal government seems to forget that fiscal responsibility is achieved through balancing a budget and paying down debt.  

“Every dollar in new inflationary spending, drives up costs. Canadians now have their ninth straight deficit, nearly $40 billion in new spending, sky-high interest rates, and double the rent & mortgage payments. The Trudeau government is not, and never has been, worth the cost.” 

Conservative Leader Pierre Poilievre outlined three commons sense demands to fix the budget: 

  1. Axe the tax on farmers and food by immediately passing Bill C-234 in its original form. 
  1. Build the homes, not bureaucracy, by requiring cities to permit 15% more home building each year as a condition for receiving federal infrastructure money. 
  1. Cap the spending with a dollar-for-dollar rule to bring down interest rates and inflation. The government must find a dollar in savings for every new dollar of spending. 

“Unsurprisingly the Prime Minister refuses to listen and instead stepped on the inflationary gas pedal. Conservatives will vote against an inflationary budget that will only burden struggling families with higher taxes and more debt,” added MP Viersen. 

“A Conservative government will bring home a Canada where people can earn powerful paycheques that can buy affordable food, gas, and homes in safe neighbourhoods based on the common sense of the common people.” 

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