Image Credit: CPAC

By Ashley Legassic

FISCAL UPDATE

Kamloops-Thompson-Cariboo MP says federal government’s spending is ‘out of control’

Dec 16, 2019 | 6:03 AM

KAMLOOPS — The Conservative MP for Kamloops-Thompson-Cariboo is sounding the alarm over the Liberal government’s fiscal update.

Figures released by the finance department this morning (Dec. 16), show that the Liberals’ projected deficit of $19.8 billion for the 12-month period that ends in March is now slated to hit $26.6 billion.

MP Cathy McLeod says the federal government’s spending is out of control.

“Not only are they spending money that we don’t have, what they’re doing is driving away investments from this country, so huge, huge concern in terms of this particular fiscal update,” she says. “And it’s not what they promised Canadians. They promised to be more fiscally responsible and they promised to be moving in a different direction… I think the spending is out of control.”

McLeod says she is worried the government is moving toward a “made-in-Canada recession”.

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Next year’s deficit is expected to be $28.1 billion, before accounting for promises the Liberals will unveil in their 2020 budget.

The Finance Department says the deeper deficit is largely driven by changes to how employee pensions and benefits are calculated but also accounts for a tax break that takes effect on Jan. 1.

— With files from the Canadian Press.