Joe Oliver: Sadly, it was predictable. Minister of Finance Chrystia Freeland tabled a profligate, something-for-everyone budget, with scant attention to affordability, economic growth or intergenerational fairness. As I forecast in a recent column that it would, it contains “extravagant spending in the guise of investment, undeserved self-congratulation, wokeness on steroids, empty promises of fiscal rectitude and soak-the-rich cash grabs.” Furthermore, nothing in its 724 pages justifies an unconscionable 25-month wait, which is an affront to parliamentary democracy.
Also predictable is that higher interest rates and credit downgrades could eventually compel the Liberal government, or its successor, to confront fiscal reality and make painful decisions to avoid a full-blown financial crisis.
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