WEAK: Canadian Economy To Grow At Anemic 1.7% Pace Over Next Five Years

Higher taxes, skyrocketing debt, and restrictive regulations will keep our economy weak for at least half a decade.

Details from an internal memo to Finance Minister Bill Morneau have been revealed in a recent report.

It suggest that the Canadian economy – already not working for the vast majority of our people – is heading towards years of weakness:

“The note for Finance Minister Bill Morneau, obtained by CBC News under the Access to Information Act, forecasts average annual growth of just 1.7 per cent this year through to 2022. That slower-growth number has big implications for federal tax revenues and annual deficits, and suggests Morneau has little wiggle room for spending in Budget 2018.”

This is a serious problem, because once you consider the impact of rising inflation (probably going up far more than the government reports), and population growth, the economy may well shrink in practical terms over the next five years under current government policies.

The combo of a weak economy, record high household debt, large government budget deficits, and rising interest rates will be disastrous.

Of course, this is something I’ve been saying for some time. The government is taking more money out of our pockets, which makes it even tougher to pay off debt. Increased bureaucratic regulations stifle growth and creativity in the economy, and weaker growth makes the burden of debt even worse.

Meanwhile, the country loses up to $15 billion per year from the disloyal elites using foreign offshore tax havens, money that could go towards building our country and lowering taxes for working class and middle class Canadians. Yet the government does nothing.

Now, it’s clear that even within the government the truth is being revealed: The terrible economic impact of the Trudeau government’s dangerously failed approach will not remain hidden.

Spencer Fernando

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9 comments Add yours
  1. Morneau and Jr would never consider such radical ideas espoused by Trump such as lowering taxes, getting rid of regulations and red tape. Letting a business grow so that there is a demand for labour and wage growth just isn’t the liberal way.

  2. Debt levels for Canadians are so high, because after the 3 levels of government get their hands out of your pocket, you can barely put food on the table after you pay your bills.
    Politicians are so stupid and greedy.

  3. This year will mark the beginning of a Government Recession. With high debts that require interest payments, Carbon Taxes, minimum wage increases, higher Federal and Provincial taxes, higher costs of getting to work due to fuel prices, increased food costs, increased insurance costs, increased pension costs, increased government payroll costs, increased MP’s and MPP’s administration costs will fuel this. While all other countries have managed to re-claim 22 billion dollars illegal tax avoidance high-lighted in the Panama documents our Government twiddles its thumbs trying to avoid this because too many of the ruling federal party members would be outed in that scam. @019 will usher in the Government created recession.

  4. Trudeau, Morneau and the rest are just following the wishes of the global bankers. Small sovereign units, such as an independent Alberta or Quebec, would, if they succeeded in de-confederating, set an example for other regions. It would become more and more like herding cats for the global elites, who depend upon consolidation to accomplish their goal of global governance. Of course Trudeau, Morneau and the rest are traitors to Canada. One can’t be a globalist while also claiming to support a national interest.

  5. Spencer Fernando – Not to mention bringing in hundreds of thousands of THE WRONG kind of immigrants. The Liberals’ destruction of Canada is INTENTIONAL. It HAS to be. The government should charge immigrants a fee before they’re allowed to enter Canada. $10,000 per family member seems fair to gain access to the infrastructure for which Canadians have paid for 150 years. They should also have to pay for their own health care until they’ve paid taxes for at least 5 years. This, of course would mean bringing in hard-working immigrants instead of useless people who are nothing but a burden on already over-taxed Canadians. I also think that people who don’t pay taxes should NOT be allowed to vote. They have no skin in the game and should have no say in how other people’s money is spent.

  6. How many taxes or regulations does your average Canadian need to suffer from before they take a stand? These elites are not incompetent. They know what they are doing. They are trying to turn us more and more into debt and regulation slaves. Trying to squeeze every dollar and every ounce of hope and creativity out of us they can. Not going to break this guy.

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