Conservative leader Stephen Harper mocks Liberal Leader Justin Trudeau's plan to run 'tiny little deficits' for the next three years.

Conservative leader Stephen Harper mocks Liberal Leader Justin Trudeau's plan to run 'tiny little deficits' for the next three years.

ELECTION 2015: Economic slump dominates campaign

Justin Trudeau's plan to run deficits for infrastructure spending changes focus for Thomas Mulcair, Stephen Harper

Sliding stock markets and sagging natural resource prices have raised the stakes for the Oct. 19 federal election, as parties try to position themselves as the best choice to deal with an economic slump.

Statistics Canada’s release of data showing small contractions of the Canadian economy in the first two quarters of the year sparked a prolonged exchange between party leaders over whether the country is or was in a recession.

Economists such as Central 1 Credit Union’s Helmut Pastrick have mostly agreed the downturn is primarily based on low oil and gas prices, and isn’t a full-fledged recession. Central 1 forecasts continued slow economic growth for southern B.C. based on the low Canadian dollar and improvement in the U.S. economy.

Conservative leader Stephen Harper noted that the statistics showed a return to economic growth in June, and he accused Liberal leader Justin Trudeau of over-reacting to “a couple of months of weak data” to commit his party to up to three years of deficit spending.

Trudeau’s abrupt change of position on running deficits of up to $10 billion a year has redefined the debate. Trudeau unveiled what he called the biggest infrastructure plan in Canadian history, doubling the current Conservative budget from $5 billion to $10 billion in the next two fiscal years and continuing to increase it over 10 years.

Touring the Okanagan, NDP leader Thomas Mulcair touted his plan to reduce small business taxes and provide tax breaks for manufacturing, while balancing the budget in the first full year of an NDP mandate.

Mulcair’s promises of tax cuts and spending control prompted both the Liberals and Conservatives to accuse the NDP of creating a huge revenue hole that could only be filled by spending cuts or new tax increases.

The Conservatives estimate that Mulcair’s plans for a national daycare program, increased foreign aid and other spending leave a gap of $8 billion in the first year. The Liberals estimated the NDP budget gap at $28 billion over four years, not counting unspecified increases for veterans and home care.

NDP candidate Andrew Thomson called the Conservative calculation “deliberately misleading,” inflating the NDP’s housing plan cost by more than five times.

Harper has mainly run on his government’s record, including an increase in the Universal Child Care Benefit and cutting the Goods and Services Tax. The Conservatives estimate their measures have benefited the average family by up to $6,600 a year.

 

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

An aerial shot of Cedar Valley Lodge this past August, LNG Canada’s newest accommodation for workers. This is where several employees are isolating after a COVID-19 outbreak was declared last Thursday (Nov. 19). (Photo courtesy of LNG Canada)
41 positive COVID-19 cases associated with the LNG Canada site outbreak

Thirty-four of the 41 cases remain active, according to Northern Health

Kitimat RCMP were requesting assistance locating 24-year-old Teah Wilken, who was last seen getting on a bus at City Centre Mall in Kitimat around 6:30 p.m. Monday (Nov. 23). Kitimat RCMP Facebook photo.
UPDATE: missing woman found safe at residence

Wilken last seen getting on bus at City Centre Mall in Kitimat around 6:30 p.m. Monday (Nov. 23)

Black Press file photo
Moose hit on Hwy 37 S

The collision happened Saturday (Nov. 21) and three people were taken to hospital

<em>Pixabay</em>
All I want for Christmas is…food!

The Kitimat Northern Sentinel wants to publish your holiday recipes

Cases have gone up in Northern Health in the past week, as they have all over B.C. (K-J Millar/Black Press Media)
Northern Health reports new highest number of COVID-19 cases in one day

Nineteen cases were reported to Public Health last Tuesday (Nov. 17)

People wearing face masks to help curb the spread of COVID-19 cross a street in downtown Vancouver, on Sunday, November 22, 2020. The use of masks is mandatory in indoor public and retail spaces in the province. THE CANADIAN PRESS/Darryl Dyck
B.C. reports 17 COVID deaths, 1,933 new cases as hospitalizations surge over the weekend

There are 277 people in hospital, of whom 59 are in ICU or critical care

(Pixabay)
All dance studios, other indoor group fitness facilities must close amid updated COVID-19 rules

Prior announcement had said everything except spin, HIIT and hot yoga could remain open

B.C. Liberal interim leader Shirley Bond speaks to reporters from Prince George via Zoom conference, Nov. 24, 2020. MLAs are being sworn in for the legislature session this week, many of them also by video. (B.C. legislature)
B.C. Liberal leadership contest will wait for election post-mortem

Interim leader set to face NDP on payments for COVID-19

Product Care offers more than <a href="http://link.mediaoutreach.meltwater.com/ls/click?upn=pDYyTceU0YgTDdsd92GohdQJsmSiPFEkcB4MdMM0Qkoqb1aJA-2By5aWklKJXV6QRdyTteNjr2FccUOVLUe4t5Zw-3D-3D1ds-_KVyBcpjXADXifSWVpM8nQcAzSm9-2B6fEFnjVrTsOcu31irDHDxi5k0QTOIWCqMXUxaNbrf0yRzXSSpROCkfx3NkUtbr65Dkcw1J0by-2F-2BDdDiJGbcfhtjHWYSs66NwakeCCLYkj20e9ICIZsLcedqNZKBhsN0sGgBsInpdzsddYikUZkmQvFdxLJhakpgAA6aAJ5ScUoWR6vO9sM819vRB-2F6x7dsdfIaWa4ZgHxR4G7hauxgSJCsNI2bP5J62EFfM0aiDqRPwUPUjt7i5-2FMqpdJxrEBewnLky-2B3lE0JAmi5UsJBkJejuLOjsndZz4b7dNgbvt6KyewKuF0sxU2rpYgkAO9YAKc9STuFJd28Qn7jE0-2FqlB8HKOvpW150NHS-2BOMBcK5rkZ8YAuPqJy11k-2BgndiKB-2FWl2icAfbWtRGJPb8fM-3D" target="_blank">150 free drop-off locations</a> in B.C. (Pixabay.com)
Recycling broken or burnt string lights can reduce holiday landfill waste

In 2019, Product Care Recycling diverted more than 11.6 million light bulbs from landfills

Join Black Press Media and Do Some Good
Join Black Press Media and Do Some Good

Pay it Forward program supports local businesses in their community giving

Helen Watson, posing for a photo for her 100th birthday, turned 105 on Saturday (Nov. 21). (File photo)
B.C. woman who survived Spanish Flu turns 105

Helen Watson has packed a lot into life – including being in two pandemics

(Black Press Media files)
B.C. to test emergency alert system on cell phones, TVs, radios on Wednesday

The alert is part of a twice yearly test of the national Alert Ready system

Prime Minister Justin Trudeau speak to the media about the COVID-19 virus outside Rideau Cottage in Ottawa, Friday, Nov. 20, 2020. THE CANADIAN PRESS/Adrian Wyld
Canada’s inability to manufacture vaccines in-house will delay distribution: Trudeau

First doses of COVID-19 vaccine expected in first few months of 2021, prime minister says

Most Read