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Massive additional Liberal borrowing a sign of bad economic management: Ambrose

Conservative Party of Canada | February 22, 2016

OTTAWA – The Liberal plan to break their election promise and borrow even more than ten billion dollars this coming year is “a recipe for waste and mismanagement,” according to the Leader of the Official Opposition and interim Leader of the Conservative Party of Canada the Honourable Rona Ambrose. She responded to the Liberal government’s new spending plans laid out by Finance Minister Bill Morneau today.

“The Liberals inherited a balanced budget because of good Conservative economic management. They blew their budget in less than 100 days solely because of their own new and uncontrolled spending. They can’t blame massive new borrowing and runaway spending on a slowing economy or a fiction that the budget wasn’t already balanced when they took office,” said Ambrose. “When it comes to spending your money, these Liberals just can’t help themselves. This out of control spending is reckless, irresponsible, and entirely the result of not being able to make the hard decisions required to respect taxpayers’ money. In fact, it brings into question Bill Morneau’s competence as Finance Minister.

“While Justin Trudeau thinks that budgets balance themselves, Canadians know that no matter how much money you borrow, and no matter the reason you borrow it, you have to pay it back.”

Ambrose expressed concern that Liberal borrowing would do little but grow the government. “The Liberals’ massive borrowing and spending makes no sense, if it doesn’t do anything to create opportunities for people to get back to work. Unfortunately, their plan is for reckless, permanent new spending that does nothing except create bigger government.”

Ambrose said Canadians – and sadly future generations – will eventually be forced to pay the bills for Liberal borrowing. “When it comes time to pay all this borrowed money back, the only realistic way they will be able to do it is through higher taxes. We already see it, as they roll back Tax-Free Savings Accounts and look to hike job-killing payroll taxes. Conservatives will stand up to runaway Liberal spending that will lead to waste, more debt and higher taxes.”