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What Can a Government Do in Tough Economic Times?

The Conservatives released their campaign platform yesterday, which you can read here.  For the most part this document is just a summary of the daily announcements made by Prime Minister Stephen Harper.  However, it does contain a few new measures to provide help to the manufacturing and aerospace sectors.

This is by far the most moderate spending platform put forward this election. As many of you have said, in these difficult and uncertain economic times it is important for our government to keep spending under control.

With today’s announcement that the Bank of Canada has cut the prime lending rate by a half percentage point, there is no doubt that the economy will be a prominent issue for voters come October 14th.

The media and political pundits alike have been eager to point out that the government has not done enough to protect our economy.  While this may be true, all a government can do at times like these is cut taxes, keep spending under control and make wise investments that will lead to job creation.

We hosted a luncheon with Diane Francis yesterday in Toronto.  When her discussion turned to the economy, she made some very interesting comments.   According to Diane, the Canadian banking system is rock solid and while people should be very worried about the current economic climate Canadians should not be panicking.

It will be very interesting to see how the remainder of this election campaign plays out. No matter which party returns to Ottawa as our next government, they will have to do everything they can to control spending and keep our economy on the right track.


Comments

Glen Grant says:

It is unfortunate that most canadians will not hear the summary that is posted above. The opposition parties will continue the doom and gloom approach and the press will assist in delivering that message.

submitted on October 8th, 2008 at 11:49 am

Gordon says:

Peter Coleman, I live here in Peterborough but never have seen any NCC signs portraying the Conservatives as good government. There have been numerous signs posted saying the opposite which I and many Peterboroughites would tear down but free speech is free speech. This town is made up of educational instructors and low income earners as well as many drifters and homeless people. Liberalism is cast in their souls. I think that DelMastro will have a hard uphill battle to retain his MPship in the coming election.

submitted on October 8th, 2008 at 12:33 pm

Dot Fuhrman says:

Official Bilingualism cositng us around $19 billion a years and making it more and more dificult for an English speaking person to get a job in Ottawa or any proivncial govt, job is a complete waste of money and should be exposed for what it is worth. It is divisive and the English language people in Quebec are being disriminated against. Check the 800 thousand who left since bill 101.
Check out also how come Quebec Day Care cost them only $5.00 per day??? tha t is all our money given to the Have Not Prov.
Dot Fuhrman,

submitted on October 8th, 2008 at 12:42 pm

Roger Graves says:

Voters need to get in into their heads that governments can do very little to affect the economy positively, yet they have a vast potential to affect it negatively. A great deal of the economic mess in the US has resulted from the US Government creating conditions in recent years for its citizens to take out home mortgages that they were essentially incapable of sustaining in the long term. Eventually the system collapsed under its own weight, but by then several trillion dollars were at risk as a result.

During every election the various parties tell us how they are going to improve the Canadian economy by spending taxpayers money on this, that and the other. Yet the more money that is siphoned out of peoples pockets by such schemes, the more the economy is dragged down. At least Stephen Harper is resisting the temptation to do this to the same extent as the others.

The role of any government should be to provide a safe environment and a stable currency - then get the hell out of everyone’s way and let them get on with the business of making money.

submitted on October 8th, 2008 at 12:44 pm

Gerald Hutchison says:

Glen Grant’s comment is correct. Most Canadians seem to be ignorant of
the economy and just how much Governments can and cannot do without
causing more harm than good. The media plays on sensationalism, catastrophy, and disaster. It seems they prefer to preach doom and gloom
and for some reason people seem to lap up the headlines.
Mr. Layton and Mr. Dion are also fanning the fire for political reasons to
scare voters. They are making matters worse.
Heaven help us if their platforms are ever implemented.

submitted on October 8th, 2008 at 1:01 pm

Jan vdL says:

I have a real problem, one many of the voters have.
I can only vote Conservative, but the best person in my riding is not. So I will have to give my vote to a person who doesn’t deserve it.
The system stinks.

submitted on October 8th, 2008 at 2:08 pm

AJS says:

I can never understand how anyone would want to vote NDP. Jack Layton wants to give something to everyone by taxing the corporations. He implies that corporations are oil companies and banks, but the last time I looked companies such as Tim Hortons, Canadian Tire etc. are corporations. In fact John Deere is a corporation. Maybe if the corporate tax cuts as proposed by the Conservatives had been implemented sooner, the plant in Welland may not have closed. You can’t have it both ways, Mr. Layton.
And it looks as if both the NDP and Liberals want to spend our way out of the impending recession. I believe that is what Bob Rae of the NDP tried in Ontario in the early 1990’s with disasterous results. Bob Rae! Oh yeah, I remember, he’s now with the Liberals.
Heaven help us if these people are elected to form a government.

submitted on October 8th, 2008 at 3:10 pm

Dave S. says:

This is a tragic comedy in the making! The Liberals know from their past, that they can tax and spend like drunken sailors & none will be the wiser - especially when the Fiberals can falsely blame Canada’s economic woes on Bush & poor preparation by Harper! And believe me, they will attempt exactly that.

For the record, Paul Martin never cut back spending in a meaningful way to reduce the deficit as the Liberals would have you believe. The truth is that he drastically cut back the provincial transfers by many $billions. This subsequently led to a balanced federal budget at the cost of desparate Provincial shortages for healthcare & education. Why is this being ignored by the media?

submitted on October 8th, 2008 at 3:53 pm

Gordon Wusyk says:

The media( and Layton and Dion) seems to be blowing out all the candles and reporting to us how dark it is. I’m sick of Mansbridge’s line of questioning and his bending of the fact that Harper is on a rational and logical path and is in fact doing something and has been since his election to office. Not perfect ,but cetainly progressive.
Let’s hope that 6 days is an eternity in politics.

G

submitted on October 8th, 2008 at 7:16 pm

Rene Vicente says:

I got really frustrated and angry about the media’s portrayal of the Prime Minister and also they (media) are having a feast of the Tory’s slide in the polls. Voter’s should really weigh what’s in stake in this election. A crook government (Liberals), a hyprocrite government (NDP) or a government that for only two years put Canada’s reputation here and internationally back (Conservatives.) Yes, I am worried because the polls are just sliding against the Conservatives and something should be done soon.

submitted on October 9th, 2008 at 12:10 am

Ron Lutz says:

Heaven help us if Leyton gets in–or Dion for that matter. Our province bragged, in headline news, WE HAVE NOW REACHED A MILLION POPULATION—That was 1940– in 2007 we were about one million population, and our First Nations people have grown a lot in 65 years. After mostly socialist government for 60 years, our population has finally started to grow under Brad Wall, our Conservative Govt. Yes, our natural resourses are ‘booming’, but we have always had other mines& minerals, but not a ‘business’ friendly Govt. Up until now our best export was our YOUNG PEOPLE!

submitted on October 9th, 2008 at 12:34 am

TERRY says:

-They already spent too much
-their small tax cuts are only voting bait
-they should make the banks lower the rates same as Bank of Canada
-they are doing what they said they would not do. Same as liberals
-I was an Exec for Etobicke Centre until the Ottawa pea brains stepped in.

submitted on October 9th, 2008 at 9:39 am

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