federal budget

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With the release of its economic and fiscal update, the Conservative government finally confirmed it will not meet its 2014-15 target for balancing the budget.

No surprise here.

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Monday’s federal budget was all political spin. Like in March, when the 2011 budget was first introduced, the Conservatives dubiously titled it: A Low-Tax Plan for Jobs and Growth.

But in reality, the Conservatives’ plan increases the federal tax take, increases government spending, and fails to provide a truly austere plan to balance the budget. It will, therefore, do little to improve economic growth and create jobs.

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All expectations for next week's federal budget are that it will look much like the March version -one that included a substantial $30-billion deficit this year (2011-12) and no credible plan to return to a balanced budget.

Canadians deserve more. The newly minted Conservative majority should seize the opportunity to put forth a truly conservative plan to balance the budget -one that puts federal departmental spending on the chopping block.