New Westminster's NDP MPs critical of Tory budget

The federal Conservatives have managed to pull the country out of deficit for the first time since the 2008 financial crisis, but New Westminster’s two New Democrat MPs are raising criticism over how they did it.

Finance Minister Joe Oliver presented the 2015 budget on Tuesday, and there is a projected surplus of $1.4 billion - a big improvement over the $55.6 billion deficit in 2009, during the global financial crisis.

However, Fin Donnelly, MP for New Westminster-Coquitlam and Port Moody, claims the budget benefits the rich at the expense of others.

“I would say the Conservatives delivered a budget that rewards the wealthy in Canada, but it fails to do enough for Canadian and our economy,” he told the Record.

Donnelly said there was nothing in the budget for the environment, fighting climate change, creating jobs or reopening the Kitsilano Coast Guard.

“We’re going to continue to fight for a practical plan that does work for the middle class and Canadian families, we know we have some work to undo the damage caused by the Conservatives,” Donnelly said.

Fellow New Democrat Peter Julian, MP for Burnaby-New Westminster, echoed Donnelly’s comments, stating that there was no mention of the environment, the Kinder Morgan or Enbridge pipelines, or reopening the Kitsilano Coast Guard station. 

“When you balance budgets, you have to do it by establishing priorities, and this government is just reckless with spending money,” Julian said. “It’s a fake balancing of the budget. It’s something they are hoping will get them through the election campaign.”

The budget also raises the limit on annual contributions to tax-free savings accounts from $5,500 to $10,000. Julian said that will cost the government billions, and that’s money he would rather see spent on a national child care program or health care. 

Oliver, however, lauded the new plan in his budget speech.

“The causes of global financial challenges are complex – and largely beyond our control. But our responses, the choices we have made, have been direct and unambiguous,” he said in the House of Commons. “For generations, Canadian families have understood the path to prosperity: Don’t compromise tomorrow by spending recklessly today. Don’t pile on debt you can’t afford. And invest sensibly for a secure future. For governments, the principles are the same. We have been prudent. We have been practical. And we have stuck to our plan.”

 

Select budget highlights: Source, Department of Finance.

• Reducing the small business tax rate to nine per cent by 2019.
• Increasing the tax-free savings account annual contribution limit from $5,500 to $10,000.
• Providing $14 million over two years to Futurpreneur Canada in support of young entrepreneurs.
• $750 million over two years starting in 2017/18, and $1 billion per year thereafter, for a new public transit fund aimed at building new public transit infrastructure to reduce congestion and fight gridlock in large cities.
• Reducing the minimum withdrawal factors for registered retirement income funds to permit seniors to preserve more of their retirement savings to better support their retirement income needs.
• Extending employment insurance compassionate care benefits (for people caring for gravely ill or dying family members) from six weeks to six months.