Freeland 2024 budget "likely to be the worst" in years, says former BoC governor
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- Опубліковано 14 кві 2024
- Without having seen it, former Bank of Canada Governor David Dodge believes that Tuesday's 2024 federal budget from Deputy Prime Minister and Finance Minister Chrystia Freeland is "likely to be the worst budget" in decades.
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![Budget 2024: Capital Gains Tax is Increasing [Canada]](http://i.ytimg.com/vi/QyCQGuXdmcs/mqdefault.jpg)
Finally someone states the obvious.
Finance minister doesn't know how to finance.
But, but, but she brought in a feminist budget.
Incompetents only employ other incompetents.
A liberal virtue signaler knows nothing about economics or managing a national budget. Her idea of cutting back on spending is to cancel your Netflix subscription to improve your household finances.
she never had a paying job till her 30s. let that sink in
an ex journalist as finance minister. What a joke.
We are so screwed
Only until the next election then the Adults will be back in charge and we'll start fixing this country
Still, You have no idea, how very much.
your right! pierre will screw canada
@@eiguch your delusional
@@eiguch STOP Eating the Crayons Immediately. 🤣🤣🤣Bring it Home Pierre Bring it Home!!!
It took decades to recover from the last Trudeau...40 years later we're at the sames place. Brutal.
And this SOB has children. Scarey.
Humane nature = stu-pid
Waaaaay worse and we don't know everything.
Trudeau: great success, my father would be so proud 🥹
Yeah, and this time it’s only a half-Trudeau.
Freeland should never be allowed to hold any higher position in Canada or any country in the World.
She's a total nut job, she went to some great schools but seemingly isn't in touch with reality. Either is JT
In other words, Freeland is doing the EXACT OPPOSITE of what is best for Canada. That has been the strategy of Freeland and Trudeau from day one.
wahhhhhh freedumbbbbbbb
@@bonbonvegabonChinese bot
@@thelvadam5113 wahhhhhh more cons in ag*ny BAHAHAHAHAHAH
@@bonbonvegabon what is wrong with you? Bored sitting in your parents basement?
I hate this Government so much, more taxes for the middle class.
Its all about feelings.
@@joshdun3290Well if it's all about feelings why doesn't hate count when it comes to Trudeau.
More taxes? He decreased the tax rate from 22% to 20.5%.
@@Orangejuicer297you disillusioned fool! Salaries are going down for everyone except govt workers.
@@Orangejuicer297 was that before or after he increased the Carbon Tax
Canada is in a downward spiral. Election now please. We need the economic idiots out of power.
You will be surprised how many economic idiots in Canada will keep the Liberals in power next year! Remember - the Libs don’t vote themselves into power.
wahhhhhhh freedumbbbbbbbbb
@@bonbonvegabon What grade are you in? Or did you quit school?
@@vinasel96 Im university educated and not a drop out freedumber crying poor online everyday lol
@bonbonvegabon Wow. Seems like anybody can get into university these days. You should really try to sound smarter.
Everything the LPC does is the worst
Trudeau and His Minions Have to Go!!!They Have Destroyed Canada!!!We Need Pierre and the Conservatives to Fix this Liberal Mess.
until they do the next worst thing
Then return the CERB or CEBA that either saved you or a family and friend of yours. Without these funds someone you know would be on the streets and starving 2-3 years ago.
Btw, I took neither.
@@toddfraser3677Trudeau was saving lives and livelihoods 2-3 years ago while PP just wanted to honk horns with the freedum convoy. That's how responsible PP is.
eight consecutive massive deficits Justin has racked up more debt than every other prime minister before him combined. even if every person paid back every penny who took Cerb and ceba he still would have racked up more debt than every other prime minister before him. you are really grasping at straws to make excuses for this incompetence
David Dodge is bang on and he’s an old school liberal.
You read my mind. 100%. Trudeau and logic are mutually exclusive....
David Dodge sounds like Milhouse's father on the Simpsons
"He's a liberal but he's against my liberal enemy therefore he's cool now"
Cool? He's lame af but he's correct. It's called being non-partisan, tories can admit he's in the right, can Liberals? (Answer is a resounding yes, most old school liberals agree with him...only the new ones trying to win a lost campaign in 2025 will disagree with him...ones like you.)@@kqh123
I think you mean neo-liberal
The right thing to do is to call an election!
An election costs more than *half a billion* dollars. There's an election coming in the next year or two max. Follow the democratic process.
They're going to the bitter end because they realize their chances of winning the next election are slim. They even extended the deadline for a fall 2025 election by one week so more MPs, mainly Liberal, will qualify for their pensions. Six years I think they need. Unreal.
Don't count on an election. Jughead will not likely go against the liberals owing to his failing poll results.
Yup worst budget ever !
you have not seen it yet so you cannot make judgements unltil it has all come out.
@@rickystarduster
😂
@@rickystarduster Sure...Rickystarduster, lol
@@rickystarduster You have a promising future, in stand up comedy,
@@rickystardusterEven when it comes out, do you actually believe it means anything? Other than announcements and running up the debt, point to one actual bit of infrastructure that has been built since 2015.
He's correct. Canada's productivity is too low, too much spending. Stronger pay checks.
The lack of investment here is unreal! They basically stopped the growing GDP for the environment instead of creating technology.
Less Indians.
Problem is wage hasn’t kept of with production not inflation if you actually know how unemployment and all that works. What this guy is sayin is actually so misleading it hurts
Aren't you forgetting that our leaders are out of touch with reality.
@@OmniUnivWorkers get paid the marginal product of their labour.
Pierre for PM! Lower income taxes! NO carbon tax!
YES! Pierre for PM! 💪🇨🇦
he's not conservative enough... PPC
@@Brett733 I'm betting on the winning horse.
@@Brett733 PPC is a 0 chance party I'm done voting for them it only help ndp and liberals!
@Brett733 what’s a PPC? Lol
Budget for her and Trudeau just sickening see their faces 😂
What do you expect from a drama teacher as PM and a Russian reporter Freeland
There's the Russian interference they keep harping on😉
She’s banned from Russia! 🤔
she's not russian ...she's ukrainian...
Who’s ready to “own nothing and be happy”?
Just you cons
@@bonbonvegabonYou are probably correct.That's how a ideological tyrannical party would operate.
Do you work directly for the PMO, or are you contracted by them?
@@bonbonvegabon GROW A BRAIN!!!BRINGIT HOME PIERRE BRING IT HOME!!!
@@bonbonvegabonChinese bot
@@toddfraser3677 wahhhhh freedumbbbbbb
Students of the world economic forum. What else would one expect???
She has no idea what a budget is, unless it's to send money to the Ukraine to launder
She is Ukrainian. Her grand dad was friend with Germans during WW2.
Truth.
She doesn't even know preferred stock from livestock 😂😅
Remember her advice to fight inflation is cancel a tv program worth about 10 dollars a month. Anyone stating this clearly is a nut job.
They did raise our taxes
Sure
Only Carbon tax just before the budget no taxes look again
@@tommacdonald3142 hello
And will, again, and again, and again, and again, and again,,,
Income taxes went up 6.3% last year and 4.7% this year
All by design folks, all by design...
There is no incompetence
The Liberal Party of Canada !
We are fighting for the Food banks, and the Middle Class Canadians who will soon be joining the lineups.
The middle class will need food banks because the rich might have to pay a little more tax?
I think you are a bit behind. Many already lined up. Thanks to JT and cronies.
@@kappabravomusic2101 Only cons blame Justin for their own poor choices in life like dropping out in grade school
Always been middle class at the food banks. That's how they save money on food to buy their new cars.
The middle class has and will always be the backbone of every economy. Open a book stupid@islaart9170
I wish we could have an election tomorrow...we need this Liberal NDP government gone!!!
The Government isnt NDP. Liberals are essentially conservatives who spend too much on social issues. But their interests and fiscal policies are mostly conservative. Definitely not NDP
Sunny ways have turned into stormy ways 🌩
I like David Dodge.
He tells it like he sees it.
100% he is someone that is sadly lacking in the Liberal government. Critical thinking is now completely absent with Liberals. It was not always that way, with Martin, Turner and Chretien at least they were not completely incompetent.
With Trudeau since 2015 it is a complete and utter failure.
They did raise taxes on the middle class. The carbon tax increased. The carbon tax affects the working middle class more than anyone else. They are the commuters and are not eligible for the so called carbon tax rebates.
LOLZ. Look up the word 'facts' I guess you haven't hit 'F' on your Word a Day calendar. Oh, I got my increased carbon rebate today.
@@roofpizza1250Stop drinking the juice
@@roofpizza1250 f u
@@roofpizza1250 If you're getting a rebate, you're also getting some form of social assistance. Nobody who works for a living is getting anything back. So what are you on? CPP? Disability? Welfare?
@kanuduh5234 his pic says his a wheelchair boy
A failed drama teacher as PM, a journalist as finance minister, a radical criminal activist as environment minister, a mistress as foreign minister. A transport minister who has been convicted 3 X for drinking and driving. Last but not least, an alliance formed with another party, whose leader (Jagmeet Singh) supports terrorism against a friend and strategic ally. What could possibly go wrong ..Eh?
Well said brother
He was awesome!!!! GREAT guest!!! I totally agree!!! This guy knows his stuff!
Carney was spot on.. Canadians are printing pay cheques instead of earning a pay cheque. Governments become big and the economy declines. Productivity = Higher Incomes, Big bureaucracies = higher taxes.
The hard facts from Mr Dodge. Not sugar coating the reality of the wrong direction this government is taking our country.
Print money, raise taxes. Print money, raise taxes. Print money, raise taxes etc, etc etc, . . . . . .years later country implodes however tent sales are way up! Maniacs.
What do you expect, she has zero formal training in finances.
Justin Dildeau just can't get it right, not even once, not even by accident.
He's not supposed to get it right, that's the whole idea.
the truth hurts.
credit downgrade coming up, guaranteed
As a CPA, I love J & J. Rich Canadians will run to CPAs to help them to defeat the harmful tax measures of J & J. Business will boom for CPAs specializing in taxation. In the end, the middle class will foot the bills.
Or they will just pass it along in higher prices and give themselves big raises.
Trudeau states they will build 3.9 million homes by 2031. That’s about 7.5 years from now. 3.9 million / 7.5 = 533,333 homes per year. It means 44,444 homes every month. It means 1,461 new homes every day. It means 182 new homes every hour. How likely is this? CMHC states housing starts in 2023 were around 223,000 and 240,000 in 2022. Only in 2021 did starts go over 300,000 (according to Trading Economics). What are the odds the government can double production? Also, by trying to do so, even if they do, this will massively increase demand for building materials and workers. This will drive up the cost of materials, labour, and land. These new houses will be some of the most expensive ever built. No one will be able to afford these houses.
Trudeau is dreaming they will be lucky to get it up to 350k per year. The only way is to drastically cut immigration till housing catches up.
@@paulk4592 It's literally the ONLY way we can even remotely build enough housing for those who live here already. It needs to come to an indefinite end until things get turned around.
The only thing this government can double, is the excrement coming out of their mouths.
JT and Freeland and Jughead can
No one can "Out Worst" the JT liberals.
Ndp too
The ndp say , hold my beer .
Wait until his son become PM in 2045.
Higher corporate taxes =higher corporate pricing =higher consumer costs =inflation
= corporations leaving Canada for more favorable taxes in other countries
lower interest rates = higher corporate debt = higher consumer costs = inflation
did i do it right?
@@butwhytharum no. you didn't do it right. If libdems could math they wouldn't be libdems
@@johnmacleod2487 I did the conservative math... Op did the liberal math... Guess both libs and cons are dumbasses¡
Why would someone with a degree in Russian literature make a bad Finance Minister ? She just has to ask herself: "What would Rasputin do ?"
Given the way the BoC has screwed Canadians, they're the last group I'd trust.
The insanity of their immigration policy just boggles the mind.
Well, we've got the worst government in years so it's not surprising we'd end up with the worst budget in years.
BTW.... Did you notice that he referenced the 1982 budget as the previous worst one? Remember who was PM then? Apple doesn't fall far from the tree, does it?
it is an Immigration Crisis, not a Housing Crisis
No its not, Immigrants by and large come to live with existing family members. Immigration is rampant because no one is having kids, they need to replace the labour force. The housing crisis is caused by lack of regulation on foreign and corporate ownership of properties as well as landlords.
@BnMProductions11 Both are the problem. Not enough houses are being built, yet immigration is skyrocketing. Our population is steadily increasing, thanks to immigration.
@@BnMProductions11 Sure! Tell that to all the "new Canadians" sleeping in tents.
@@johnnyguitar1422 All issues building more luxury housing wont solve.
He said that in not so many words. He said, what is the point of increasing supply to reduce prices if you are going to increase demand ie open the flood gates to immigration.
I cannot afford my life. I cannot afford more taxes.
Ya got MAID🤣🤣🤣
Fiscal policy isn't being formulated in the Finance Department but in the PMO Office.
Neither one has a clue
It's vote driven at any cost.
David Dodge knows his stuff. We need to listen to him.
Don’t you know the budget balances itself 😂
Sounds like we're all screwed regardless..
He's 100% correct! Pierre has been saying this for the past 2 yrs!
We need a consumption tax? That what dodge said
Just another day in the basic Trutatorship.
wahhhhh freedumbbbbbbbbbb
@@bonbonvegabon
Says the Trudeau worshipper
The missing key is it doesn't matter how many homes you build if Canadians cant afford to buy them. David Dodge is Bang ON!
It's nice to see some truth being spoken by at least someone on how bad this budget is going to be. Keeping it to a "modest" $40.1 billion deficit is still absolute insane considering our budgets in 2015 were around $270 billion. If this one passes with new taxes in it we are so screwed.
Treaudeaus war machine cost a lot off our tax money .
Yeah it’s a scary moment
Worst than Freelands other worst budgets ever??
He hit it on the nail too much money going towards housing. Houses don't produce one widget.
Housing is too expensive he a smart guy . Housing is like food we kinda need it to live and not having hurts productivity as well
Hopefully they won’t be in power in 2026-2027
Better be before that. No way they are winning the election that takes place on or before October 2025.
Let me correct this for you, 2026-2126
I don't think Vassy understood what Dodge was saying and not really saying. If we had unleashed the potential of our LNG and oil production we would be "building things" and raising our GDP. Dodge did not refer to O&G but the reference to capital infrastructure and production of goods squarely points in this direction. The fact we have kneecapped our O&G on the alter of climate change is the big reason our economy is suffering. Electric batteries are a help but not nearly as GDP raising as our energy sector is.
Non Confidence
How will the NDP and BQ justify voting for this budget?
It’s called their pensions.
Bloc doesn't care about anything because they've always had a sweet heart deal for themselves against the rest of Canada's interests and NDP is like that kid that runs behind the teacher and laughs while you get in trouble
……….The NDP will want more from Trudeau, if he wishes to be in power more longer.
I seem to be making less and less every day. We need an election.
We are going the way of Argentina.
It is obvious that the idiots that created this situation have no ability to fix what they have done.
The worst budget since '82?
Omg I'm screwed.
I still can't believe a former journalist with no prior experience is in charge of Canada's budget.
And throughout COVID we saw the minister of Health is a graphic designer, the PM is a drama teacher, the finance minister was a nepo hire in his father’s actuarial firm, and the housing development minister is a lawyer.
Nothing makes sense.
You got what you voted for Canada. Congratulations 😂
You make it sound like Canada is a bad place to live.
@@Orangejuicer297 it is since 2014
@@user-ju7qt2sq2w Only con trait*rs hate Canada
@@Orangejuicer297 it's far worse than it used to be.
@@candorsspot2775 Almost like electing Conservatives have consequences huh dunce boy?
Can it get worse???? She got new shoes hope she paid!!! Or I will ask her.
the finance minister no matter who it is gets new shoes every year as part of the tradition also they made a bigger deal about it last year as she got them on sale.
got to cover those cloven hooves somehow.
Government should trim its own spending before raising taxes. For example, how can a federal civic workforce increase by about 100,000 or 40% since 2015 be justified?
It's to cook the books to make the economy appear healthy. Of course this will have to end as the private sector is crushed and can no longer afford to support the public spending.
David Dodge represents an intellectual that is wholly absent from today's LPC
Thank goodness , dodge wanted a consumption tax .
I remember when a finance minister was a nice quiet qualified professional instead of a bank account stealing ,call the cops on citizens rat.
Rembering the we charity.
And the cerb payments
And the lobster stuff raviolli
Wage deflation is huge, and profits are shrinking, so how will a population with limited supply of housing, and low interest rates help? Our productivity may not increase without investments, and innovation. Maybe start with respect for entrepreneurs, and respect for the resources that Canada is gifted with and use those things to get back some level of prosperity.
Vassey seems to be the only journalist on TV, that challenges or pushes back against the Federal government's policies.
She is only started to ask the important questions she use to favors the liberals
The Desperation Budget. Mortgaging your children's future for decades to come.
I am so very shocked by this news of our current gov not helping Canada and Canadians.
Spend! Spend! Spend!
🤮🤮🤮
Where is the money from the Fuel Tax? Where is it going? Was that money mentioned in the Budget? As a regular Canadian, I'd like to know where that money is sitting.
5:40 oh look at her protecting the government of Canada. How cute. 😂😂😂 10:50 aweee did the producers told you to stop the interview?
We need to export our clean gas, lumber, and oil. We need to promote and invest in green start up companies.
Lots of Canadians want to and are leaving Canada . So let the migrants have it , and then they will eventually get a taste of what we are suffering now
Gas goes up 16 cents day after budget
Not a big fan of David D but he is spot one here. Housing and government is all we got. Not a winning hand. This government is run by boobs.
I don’t think they will be there long .they better take a hike .they should stop robbing our money to
What's he talking about? It's been normal Canadians investing evermore on housing, not industry or big investors. Canadian businesses investment in technology & infrastructure has been declining for ages relative to our western peers and so has our per capita GDP in comparison too. I wonder whose interests he's speaking on behalf on. It sure doesn't seem to be anyone I know.
The guy is from the Reagan era . Trickle down economics and government is the problem .
The guy even said we need a consumption tax and everyone here just ignores it .
Freeland couldn't run a lemonade stand
Are they trying to encourage tax evasion?
It's great to hear the unsweetened truth. Virtually nothing in this budget will improve the most pressing problems faced by Canadians. Wasted money and wasted opportunity.
Canadians got the government they deserve.
Congrats Libs.
He seized the rest of the guns too. What a nightmare.
@candorsspot2775 They didn't seize any of my guns?
What’s it called again when you keep doing the same thing over and over expecting a different result?
They know exactly what they're doing. Extracting wealth from the poor to funnel to the wealthy. A little claw-back every now and then to make it seem like they care.
INSANITY
Read the section about digital ID 😢
On top of this , the conservative government in Ontario is TRIPLING the deficit this upcoming year. No help anywhere
Yup, the party name is no guarantee.
I could care less, I don’t live in Ontario.
@@nidhavellir "Progressive" conservatives are gross
@@oilersridersbluejays no one cares where you live random internet guy
And just guess who is gonna pay back all of this spending. That’s right the middle class. How easy it is to spend the people’s money.
@6:02 "The worst budget ... since 1982...". Ask anybody who lived through the fallout from that budget (the 1990s debt crisis) how much pain it took to recover from that mess and whether they want their kids and grandkids to do that.
Even the targets that Freelansd is aiming for are polyanic and misguided. Limiting planned spending to ONLY $40 BILLION more than planned income (which will probably fall short because of the proposed tax increases) is not fiscally responsible. Further, the proposed targets are tied to GDP, which isn't doing all that well. What if they tried tying it to GDPPP? Oh, wait...
Who was in power in 1982? I forget… 🤣
@@oilersridersbluejays if you remember the 80's you didn't do it right 🤣🤣🤣🤣
Protest in the streets TRUDEAU HAS DONE WHAT HE CAN TO STOP PROTESTS AS YOU WELL KNOW VASHIE AS WHAT HE DID TO THE TRUCKER CONVOY
David Dodge is in favor of " Trickle down economics "
Maybe when he was bank governor decades ago but he knows what it takes to grow the economy. We are already past the point of diminishing returns. It would be interesting to see how many Canadians refuse to file their taxes. A tax revolt is definitely in order. My prediction is revenues will fall more than they anticipate.
Sure, the Liberals will teach him how to run the economy! 😆😅
What is the average personal debt to income ratio?
I honestly have no idea how canadians making under $20 an hour are surviving.
Personally I'm working two jobs and eating ramen.
I can’t agree with this gentleman more.
Election budget. I just hope the budget will not pass . The defense must have absolute priority😢
Foutchi you are a great person
Very interesting point. I guess he was saying that if we were more productive, our salaries would be bigger, so inflation would hurt less. So the government should be investing in productivity measures and not the supply of housing which, if it works, will only increase demand.
No. He is saying that the government needs to stop 'investing'. This all ends when the government gets out of the way. Cut spending, reduce the insane amount of regulations everywhere, especially when it comes to building new housing, and stop taking money from everyone so they can truly invest and grow.
It took 150 years to balance the budget a little bit and it has taken 8 years to totally tear it down. Freeland is not an economist and I don’t believe she’s ever taken classes in basic economics. if she has, she didn’t learn anything, and we all have to suffer because of it. This comes from an MIT PhD economist, me.
Sorry David, it appears that nobody in this government has any ability to grasp the basics of common sense. Everything you say makes total sense....but our leaders appear not capable of understanding these simple concepts.
The Liberal Party of Canada is done