Even with the new taxes, the platform projects another four years of deficits if the Liberals are re-elected on Oct. 21 — $27.4 billion next year, falling to $21 billion by the fourth year of the mandate.
But in a news conference at the University of Toronto’s Mississauga campus, Trudeau made it clear he’s leaning in to the old tax-and-spend Liberal reputation in order to establish an important point of distinction from his arch-rivals.
Conservative Leader Andrew Scheer was taking a break from the campaign trail Sunday. But his finance critic, Ottawa MP Pierre Poilievre, told a news conference that Trudeau is effectively saying “Canada will literally go on adding debt forever.” He predicted that a re-elected Liberal government would wind up imposing “massive tax increases to fund this irresponsible and costly platform” that would add $56 billion in new spending over four years.
“He expects Canadians to believe that money falls out of the sky or grows on trees,” Poilievre scoffed.