https://sputniknews.in/20241219/over-14b-ukraine-aid-stoked-canadas-budget-deficit-ex-foreign-minister-8571069.html
Over $14B Ukraine Aid Stoked Canada's Budget Deficit: Ex-Foreign Minister
Over $14B Ukraine Aid Stoked Canada's Budget Deficit: Ex-Foreign Minister
Sputnik India
People's Party of Canada (PPC) leader Maxime Bernier has told Sputnik India that Prime Minister Justin Trudeau could resign next month, months ahead of the scheduled federal election in October.
2024-12-19T15:09+0530
2024-12-19T15:09+0530
2024-12-19T18:05+0530
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Maxime Bernier, Canada's former Foreign Minister, founder and incubment leader of People's Party of Canada (PPC), told Sputnik India that Prime Minister Justin Trudeau's decision to bankroll Ukraine for "as long as it takes" is one of the major factors fuelling the widening fiscal deficit.The fiscal deficit hit $43.5 billion for 2023-24, surpassing the $27.7 billion target, according to the government's economic update this week. Canada has committed over $14 billion in economic and military aid to Ukraine since 2022, with Trudeau looking to expand aid package to Kiev.Further, Bernier lambasted the Trudeau government for having spent billions of dollars to provide housing, health, and other benefits to a record number of refugees in the country.He stressed that the government has also wasted billions on COVID programs while "shutting down the economy."Significantly, the former diplomat said that the $11.3 billion payout to Indigenous groups following the court cases led to overshooting of the budget deficit targets."The Department of Finance officials said the deficit was $15.1 billion higher than expected for 2023-2024 due exceptional factors. Those included $11.4 billion Indigenous contingent liabilities expenses. The second factor is money that still hasn’t been recovered under the Covid-19 pandemic support programs. The higher-than-anticipated provision for these two categories accounted for $14.6 billion in accounting charges," the PPC leader explained.The comments came against the backdrop of an ongoing political crisis in Canada triggered by the resignation of Finance Minister and Deputy Prime Minister Chrystia Freeland, who stated in her resignation letter that she was "at odds about the best path forward for Canada" in the wake of President-elect Donald Trump's threat of sweeping tariffs against the northern neighbour unless it stemmed the flow of fentanyl and illegal migrants into the US.Freeland stated that Canada needed to keep its "fiscal powder dry" to deal with Trump's tariff threat, as she called for "eschewing costly political gimmicks", a reported reference to Prime Minister's proposal to give a tax break on essential items and help families making less than $104,000 annually. Freeland's resignation has sparked calls for Trudeau's resignation ahead of the next October's federal election from certain government MPs and opposition.Bernier agreed with Freeland in slamming Trudeau's pre-Christmas sops, describing them as "gimmicks". Commenting on the political future of Trudeau, Bernier predicted that it was "very unlikely" that the PM would be able to hang on to his leadership, accusing him of a "catastrophic" handling of the government as well as relations with his own ministers and caucus.
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Over $14B Ukraine Aid Stoked Canada's Budget Deficit: Ex-Foreign Minister
15:09 19.12.2024 (Updated: 18:05 19.12.2024) Exclusive
People's Party of Canada (PPC) leader Maxime Bernier told Sputnik India that Prime Minister Justin Trudeau could resign next month, prior to the scheduled federal election in October.
Maxime Bernier, Canada's former Foreign Minister, founder and incubment leader of People's Party of Canada (PPC), told Sputnik India that Prime Minister Justin Trudeau's decision to bankroll Ukraine for "as long as it takes" is one of the major factors fuelling the widening fiscal deficit.
The fiscal deficit hit $43.5 billion for 2023-24, surpassing the $27.7 billion target, according to the government's economic update this week. Canada has committed over $14 billion in
economic and military aid to Ukraine since 2022, with Trudeau looking to expand aid package to Kiev.
"The money and weapons sent to Ukraine have certainly worsened Canada’s economic situation and contributed to the deficit. But it’s not just that. The Liberal government has for nine years created countless new programs, subsidised business in general and electric vehicles (EV) battery manufacturers in particular to the tune of tens of billions of dollars, intruded on provincial powers with new social programs that are unconstitutional, showered money on groups promoting multiculturalism, diversity, equity and inclusion (DEI) and gender ideology," Bernier explained.
Further, Bernier lambasted the Trudeau government for having spent billions of dollars to provide housing, health, and other benefits to a record number of refugees in the country.
He stressed that the government has also wasted billions on COVID programs while "shutting down the economy."
"They’ve had many opportunities to get rid of the deficit, but always chose to spend any surplus money on new programs to buy votes. They, thereby, doubled Canada’s national debt in less than a decade. Our current fiscal woes stem from all of these misguided decisions," Bernier underscored.
Significantly, the former diplomat said that the $11.3 billion payout to Indigenous groups following the court cases led to overshooting of the budget deficit targets.
"The Department of Finance officials said the deficit was $15.1 billion higher than expected for 2023-2024 due exceptional factors. Those included $11.4 billion Indigenous contingent liabilities expenses. The second factor is money that still hasn’t been recovered under the Covid-19 pandemic support programs. The higher-than-anticipated provision for these two categories accounted for $14.6 billion in accounting charges," the PPC leader explained.
The comments came against the backdrop of an ongoing political crisis in Canada triggered by the resignation of Finance Minister and Deputy Prime Minister Chrystia Freeland, who stated in her resignation letter that she was "at odds about the best path forward for Canada" in the wake of President-elect
Donald Trump's threat of sweeping tariffs against the northern neighbour unless it stemmed the flow of fentanyl and illegal migrants into the US.
Freeland stated that Canada needed to keep its "fiscal powder dry" to deal with Trump's tariff threat, as she called for "eschewing costly political gimmicks", a reported reference to Prime Minister's proposal to give a tax break on essential items and help families making less than $104,000 annually. Freeland's resignation has sparked calls for Trudeau's resignation ahead of the next October's federal election from certain government MPs and opposition.
Bernier agreed with Freeland in slamming Trudeau's pre-Christmas sops, describing them as "gimmicks".
"The government actually cancelled the plan to send $173 cheques. That would have been funded with more borrowed money. What Canada needs is a thorough review of every government program and massive spending cuts, so that the government can then lower taxes. Not insignificant Christmas goodies to buy votes while the government continues to spend like a drunken sailor," the PPC leader said.
Commenting on the political future of Trudeau, Bernier predicted that it was "very unlikely" that the PM would be able to hang on to his leadership, accusing him of a "catastrophic" handling of the government as well as relations with his own ministers and caucus.
"I predict that he will resign before Parliament resumes in January. Then there will be a quick leadership race, with Chrystia Freeland as one of the leading candidates. Then, it’s anybody’s guess if this government will be able to hang on until October, and an election could happen anytime if the New Democratic Party (NDP) finally decides it’s in their interest to drop their support for the Liberals and vote in favour of a non-confidence motion," Bernier concluded.
