Federal budget turns a blind eye, ignores Canada's economic challenges

Federal budget turns a blind eye, ignores Canada's economic challenges

OTTAWA-In response to calls from Canadian businesses for US -style tax cuts, Canadian Finance Minister Bill Morneau said that evidence, not emotion, would determine how Canada acts, as he delivered the government's budget plan for the coming fiscal year.

It's not clear how the new gender based budgeting will work, although in Sweden, such policies require that sidewalks be plowed after a snowfall as a priority, since statistics show more women than men in Sweden walk or take public transit than men, who tend to drive more.

The budget, which makes it a full department, is changing that.

"We're taking a fiscally responsible approach that allows us to deal with the challenges we might face, " Morneau told reporters before his speech, adding Canada will study the impact of USA measures before reacting to them.

It's that robust growth that some businesses had hoped would translate into either tax reductions or a plan to accelerate deficit reductions.

There will always be debate about things like infrastructure spending and corporate tax relief, but with Canada expected to lead the G7 nations in economic growth and with unemployment around 5 per cent, the government feels they can ease up on the economic incentive packages.

"CUPE has called for the government to require digital giants like Uber, Google and Facebook to collect and remit sales tax like any other business, but Budget 2018 is silent on the matter".

The loss of NAFTA would sideswipe Canada, which sends 75 percent of exports to the United States, and the decision not to slash corporate tax rates in response to the USA move puts Canadian companies at a disadvantage.

"We know that universities and colleges can do better and we will work with them to achieve our common goal", she said.

The proposals came as the government also announced measures to step up its fight against offshore tax evasion. That review recommended phasing in $1.3 billion more for researchers, scholarships and facilities over four years.

It said it would also clarify the application of certain rules for limited partnerships to prevent unintended tax advantages.

That's one way to sum up Finance Minister Bill Morneau's third federal budget.

Ignoring the dropping USA tax rates will inevitably hurt our ability to attract and retain jobs and investment.

Committee witnesses and others are raising concerns about whether a government bill aimed at preventing and responding to sexual harassment and workplace violence, including against parliamentary employees, will actually make it any easier for people to...

The new approach avoids much of the "collateral damage" of the original measures, which were "horribly complicated" and heavily criticized by businesses and tax professionals, Wonfor said.

The 2015 Liberal election platform promised three "modest" deficits that would have added a total of $25 billion in debt before returning to balance in 2019. They would rather spend money on mass transit, gender equity and indigenous affairs and they dream of implementing a pharmacare plan rather than lose sleep about how to implement the painful cuts needed to get Ottawa to a zero deficit.

Tellingly, this decline in private-sector investment coincides with a marked deterioration in Canada's investment attractiveness.

"Most economists have no objection to budget deficits when the economy is weak because we understand the need for government spending in a weak economy", she said.

University leaders, researchers and students applauded the announcement, which includes almost $1.7 billion in new money over five years for Canada's research granting councils, along with $763 million for the Canada Foundation for Innovation.

However, the fall number included a $1.5 billion adjustment for risk, which the 2018 budget does not, while the new document reveals $3.5 billion less in direct program expenditure than was anticipated in the fall.



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