Conservatives would balance budget with economic ramp-up and ‘without cuts’: O’Toole

DM

A Conservative government would balance the budget “without cuts” within 10 years, leader Erin O’Toole said Tuesday, elaborating on a plan that hinges on a decade of juiced-up economic growth. At a campaign event from the party’s broadcast centre at an Ottawa hotel, the Tory leader said Canada effectively borrows more than $400 million each day, resulting in last year’s $354-billion deficit amid emergency spending measures prompted by the COVID-19 pandemic. O’Toole said that, if elected, he will roll out more stimulus spending but end much of it after the first year and wind it down completely over five years. “We will help highly affected sectors caught by the pandemic so that those jobs are preserved. We will grow the economy so that we can get back to balance in a responsible and equitable way without cuts,” he told reporters. […] Neither the Liberal budget nor the NDP platform specifies a horizon for fiscal balance, with both parties saying investment in economic and social programs can rev the economy and generate revenue more effectively than slashed budgets.

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