Liberal Budget 2017
March 30, 2017
On March 22nd, Finance Minister Bill Morneau presented the Liberal Government’s 2017 Budget. The Liberals plan to spend outrageous sums that Canadians don’t have by mortgaging our children’s future with no guarantee that there will be any benefit. The 2017 Budget is projecting a $23 billion deficit in 2016/2017 and a $28.5 billion deficit the following year.
Public Transit Tax Credit – This 15% federal tax credit in respect of the cost of eligible transit passes will be eliminated effective July 1, 2017.
Ride Sharing Services to charge GST/HST – Effective July 1, 2017, providers of ride-sharing services where the transportation is arranged for or coordinated through an electronic platform or system will have to register for and charge GST/HST on their fares in the same manner as taxi operators.
Proposals Impacting Business Owners — proposes to eliminate the ability for taxpayers in these designated professions to elect to use billed-based accounting effective for taxation years that begin on or after March 22, 2017, subject to certain transitional rules.
The only thing that this 2017 budget proves is that Justin Trudeau and his Liberal Government’s priorities are not the priorities of ordinary hard-working Canadians. The deficit projected for this year: $23 billion.
What this budget boils down to is less stability in Canada’s economy, higher taxes, less money for social programming, higher taxes on the oil sector, public transit users, and small business owners, to name a few.
It is estimated that the budget will not be balanced until 2050, which means we have placed the burden on our future generation – our children and their children. Not only are there no new jobs, but growth in our GDP has drastically slowed down and risks coming to a complete stop.
Albertans need an economic environment that fosters economic growth with lower taxes and fewer regulations. Instead, this budget introduces a huge subsidy for Bombardier, while increasing taxes on the oil and gas industry. This budget is ideologically motivated and Alberta is paying the price.