Canada Day income tax changes. | Page 4 | Income tax filing | Discussion forum

BlueSky said Right now they are running a country without a budget, and not before the fall will they bring down one.

I don't believe a budget matters all that much, at this point. What is the difference in them telling us beforehand that they will run a $60B deficit as opposed to running as they currently are? Reckless, ridiculous spending is still reckless and ridiculous; whether it is planned, predicted, or otherwise.

RetirEd said
What's the point of trying to issue a budget when planning is impossible during Trump's war on Canada?  

Canada continued to table annual federal budgets throughout 1939–45. They were explicitly framed as war budgets.

Not only did Canada still have budgets; they were the main instruments for mobilizing and managing the country’s wartime finances. Budgets are even more important when facing challenging environment.

I think the expenditure review is the main reason for the delay in tabling a budget.
https://www.cbc.ca/news/politics/carney-spending-review-cuts-1.7582889

mordko: 1935-1945 was a long time ago. Many different circumstances. The spending review, too. But we are promised a budget "in the fall." Politically, it sure beats making forecasts when they will be publicly treated as broken promises.

I still look at the Chretien/Martin austerity as a rare example of a plan that worked and is now looked back at as as success. Regardless of debt supportability, it's still better to have less of it. When a country makes an investment, it should be paid back.

We keep hearing that "budgets balance themselves" canard. What both conservatives and liberals have said is that budgets balance themselves IF THE ECONOMY DOES WELL. Which isn't strictly true - one can always spend into deficit - but it's not what is claimed.

I feel the need to pile on here
Justin had to have known the economy would not perform well.
Where I work we compete heavily with companies in Michigan and Ohio. With the added in industrial carbon taxes, it made it much harder for us to be competitive and saw huge CDN sector industry declines.
Justin also put in a decent effort to restrict the prosperity of oil and gas in Alberta so that wasn’t gonna perform as expected
He also forced Chrysler in Brampton and Ford in Oakville to go electric when there was no market or there would be no government money available for retooling so those 10,000 jobs of people that make $100,000 a year we’re all gonna be gone plus all the spinoff supplier jobs.
I’ll basically come out and say I believe Justin was an bold face liar. He absolutely knew he would do nothing but print money and with all his attacks on various industries, there’s no way it was gonna perform better than expected. There wasn’t a snowball's chance in hell of this.