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Budgets Don't Balance Themselves

Updated: Dec 8, 2020

"A budget is usually something that projects what's going to happen to the Canadian economy for the next 12 months and right now, we're having a lot of difficulty establishing with any certainty what's going to happen in the next 12 weeks," Trudeau said today at his daily briefing with reporters.

I would imagine that the majority of businesses (and family units) across Canada have reviewed their financial health over the past couple of months to determine how to do one or both of the following:

1. Maintain existing revenues or create new opportunities

2. Cut expenses

How can the Federal Government not do the same thing?

Increases to taxes (capital gains rates, principal residence exemption, etc.) or changes to GST/HST rates won't come now but will inevitably increase once the Liberals call a snap election in the near term.


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