It
Will Take More Than Conservative Spin Doctors to Mask the Outstanding
Fiscal Legacy of the Liberal Party
Op-ed
by Liberal Finance Critic John McCallum
A new Conservative attack on the Liberals’ spending priorities is
nothing more than a $62-billion Conservative lie. The claim that
Liberal election promises would return Canada to deficits is simply false.
The
fact is the glossy 67-page booklet accompanying the Conservative attack ad
makes more than 50 questionable assumptions to come to this false
conclusion. It uses the phrase “it is assumed” more than 50
times, in a series of misleading statements and calculations. If this is
what counts as sound financial analysis, then Canadians have every right
to be worried about the Conservatives’ ability to manage our country’s
finances.
The
truth is, the Liberal Party has a stellar economic and fiscal record.
During the mid 1990s, it was the Liberal Party that eliminated the
$42-billion deficit left to Canadians by Brian Mulroney’s Conservatives.
When I left my job as Chief Economist of the Royal Bank to run as a
Liberal MP seven years ago, I was astounded to find that my new Liberal
colleagues were even more opposed to running deficits than were my former
colleagues on Bay Street.
There is a very good reason for that. After the Liberals had
eliminated Brian Mulroney’s $42-billion annual deficit in 1997, they
quickly discovered they were in no mood to return to deficit ever again.
Canadians had worked too hard and sacrificed too much to help clean up the
last mess.
That same mood still prevails today in the Liberal caucus meetings and it
is personified by our party's leader who sat at the cabinet table while
the previous Liberal government delivered balanced budget after balanced
budget.
Contrast that to the record of Conservative Finance Minister Jim Flaherty,
who, in 2003, sat quietly at the cabinet table of the Government of
Ontario while his colleagues hid a $5.6-billion deficit from the voting
public.
Canadians can count on the fact that when the next election comes, they
will be able to read a fully-costed Liberal platform that will leave the
books in this country balanced. In the meantime, the Conservatives
should stop their fear-mongering and stop begging the Liberal Party to
release its next election platform before an election has even begun.
If they really need some new ideas for initiatives, they should be honest
and just say so.
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