, 21 tweets, 15 min read Read on Twitter
Time to debunk this far right myth making. Who is up for a trip down memory lane about the record of the Harper/Scheer government? Let's start with some background with what Harper/Scheer inherited from the Liberals under Chretien/Martin. #cdnpoli #cdnecon #elxn43
The federal debt under the Liberals was reduced by $90 billion from 1993-2006; the debt burden fell from 66.6 per cent in 1994-95 to 31.4 per cent in 2006-07. #cdnpoli #cdnecon #elxn43
The Liberals implemented a temporary capital tax on large deposit taking institutions, a higher tax on large corporations, a temporary corporate surtax; and higher excise taxes on gasoline and tobacco products. There were ZERO personal tax increases. #cdnpoli #cdnecon #elxn43
Oh yeah, about those Provincial transfers. Initially the Liberals did cut transfer payments to the provinces. When the budget was balanced, The Liberals introduced a 10-year plan which put the major transfers to the provinces on a sustainable and growing rate. #cdnpoli #cdnecon
In 2000, with the deficit eliminated and with no interest rate risk, the Liberal government implemented the largest personal and corporate income tax reduction in Canadian history. This fueled our economy, even with the tech bubble bursting in 2001. #cdnpoli #cdnecon #elxn43
In 2006, Harper/Scheer inherited a surplus of $13.8 billion — which they turned into a deficit of $5.8 billion within two years. They remained in deficit each year, creating a structural deficit. In 2009-10, the deficit reached its peak of 3.5 per cent of GDP. #cdnpoli #cdnecon
Under the Harper/Scheer government, after 2006, economic growth declined in every year after 2010 and averaged only 1.7 per cent per year. In the previous nine years under Chretien/Martin, economic growth averaged 3.4 per cent per year. #cdnpoli #cdnecon #elxn43
As of January 2015: the unemployment rate was higher than at the end of 2008. Labour force participation rate was lower than in 2008. The youth unemployment rate was higher than at the end of 2008. Full-time and manufacturing jobs fell substantially 2008-2015. #cdnpoli #cdnecon
From 2008-2015 we created jobs at far lower rate than the other G7 countries. Post 2015, the share of total employment made up of full-time jobs was less than in 2008 — and the quality of jobs had sunk to its lowest level in a quarter of a century. #cdnpoli #cdnmedia
Dear @AndrewScheer, numbers don’t lie, but people do. It is the one skill you have shown as @CPC_HQ
leader. It’s one thing to try and spin your economic failures as a success. But do not try to paint a decade plus of fiscal failure as a triumph. We know better. #cdnpoli #cdnecon
One more thing. Credit is given to Stephen Harper for his steady hand during the global economic downturn of 2008-09, but the truth is the decisions made under the Jean Chretien government were the ones that saved the Canadian economy. #cdnpoli #cdnecon
All the Harper government did was take credit for the stability that the decisions Chretien/Martin made in the 90's gave us. When his hand was forced by the opposition he emulated the stimulus plan Bob Rae used in Ontario in the 90's. Not one original idea. #cdnecon #cdnpoli
Why we are looking at the past? The financial orthodoxy of today's @CPC_HQ hasn't changed since Preston Manning led the Reform Party. It is the same tired economic sloganeering they have always employed. This is no time double down on trickle down economics. #cdnecon #cdnpoli
About the economy under the Trudeau Liberals. The Government of Canada recently released its annual financial report. Lets take a look at a few key points. Federal interest costs as a share of GDP are at its lowest level today since before the Great Depression. #cdnpoli #cdnecon
The Canadian economy was remarkably strong in 2017, growing at a pace well above that of all other Group of Seven (G7) countries, and at its strongest pace since 2011. #cdnpoli #cdnecon
Canada has added 1,042,300 jobs since October 2015, leading the unemployment rate to fall to 5.4% in May 2019—its lowest recorded level in over 40 years. #cdnpoli #cdnecon
www150.statcan.gc.ca/t1/tbl1/en/tv.…
Canada’s Federal Debt Percentage to GDP has fallen each year under the Liberal Government as compared to the Conservative Governments under Stephen Harper. #cdnpoli #cdnecon
A large portion of deficit carried by the Liberals in 2015/2016 was caused by incorrect projections in the previous Conservative budget. The 2014/2015 oil slowdown created a $70B shortfall from Budget 2015 projections to 2016 GDP. That created $12B shift in the budget. #cdnecon
You show me your facts, I will show you mine. I promise that my facts are bigger, and actual facts. You better get busy making memes with out of context quotes and headlines from Conservative biased journalists and business leaders. #cdnpoli #cdnecon
fin.gc.ca/afr-rfa/2018/i…
A large portion of deficit carried by the Liberals in 2015/2016 was caused by incorrect projections in the previous Conservative budget. The 2014/2015 oil slowdown created a $70B shortfall from Budget 2015 projections to 2016 GDP. That created $12B shift in the budget. #cdnecon
You show me your facts, I will show you mine. I promise that my facts are bigger, and actual facts. You better get busy making memes with out of context quotes and headlines from Conservative biased journalists and business leaders. #cdnpoli #cdnecon
fin.gc.ca/afr-rfa/2018/i…
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