Chrystia Freeland

Thursday November 23, 2023

The Trudeau government, led by Justin Trudeau and Finance Minister Chrystia Freeland, faces mounting challenges as Canada grapples with a substantial national debt, increased debt servicing costs, economic slowdown, and rising unemployment, prompting concerns about the government's ability to address critical issues across various sectors.

Editorial Cartoon by Graeme MacKay, The Hamilton Spectator – Thursday November 23, 2023

Growing Debt, Shrinking Priorities: The Trudeau Government’s Balancing Act

November 3, 2022

The Finance Minister, Chrystia Freeland, has tabled a fall economic statement revealing a stark reality: servicing the considerable federal debt will consume a larger share of Ottawa’s revenue than in recent years. This ominous financial forecast comes as Canada grapples with the aftermath of the COVID-19 pandemic, with economic growth expected to stall, unemployment set to rise, and tens of thousands of jobs at risk.

Freeland proposes additional spending of $20.8 billion over the next six years, emphasizing it as a modest increase compared to previous years and a display of fiscal prudence. However, the lion’s share of this new spending is allocated to housing initiatives and climate-friendly projects, diverting attention and resources away from crucial areas such as defense, social programs, infrastructure, innovation, and healthcare.

News: Canada fiscal update sees higher deficits and debt, adds housing measures  

October 1, 2019

The Trudeau government has consistently run deficits since its election, exacerbated by the pandemic’s economic fallout. The interest rates, now at a 20-year high, have inflated the cost of borrowing from $20.3 billion in 2020-21 to a staggering $46.5 billion in the current fiscal year. Debt servicing charges are projected to soar to $60.7 billion in 2028-29, making it one of the most burdensome items in the federal budget.

To contextualize the impact, debt service charges for this year alone surpass spending on the Canadian Armed Forces by $18 billion and exceed the allocated funds for the Canada Child Benefit by $20 billion. This rise in debt interest charges limits the government’s fiscal flexibility to address critical issues such as the housing supply crunch.

November 2, 2016

Kevin Page, former parliamentary budget officer, warns that the substantial increase in debt during the pandemic will now have repercussions. The federal debt has doubled since 2015-16, reaching $1.2 trillion last year and projected to climb to $1.4 trillion by 2028-29. As debt interest charges consume more fiscal space, the government’s ability to tackle pressing issues diminishes.

Despite lower new spending in the economic statement compared to previous budgets, the fiscal outlook remains grim. The deficit for this year stands at $40 billion, and with a forecasted economic growth of only 0.4%, the unemployment rate is expected to rise to 6.5%. Projected deficits for the coming years have been revised upwards, indicating a challenging fiscal path ahead.

Freeland’s focus on housing measures, while important, raises concerns about the government’s ability to address a broad spectrum of issues. The proposed new spending measures, though aimed at addressing the housing crisis, may not be sufficient to meet the urgency of Canadians’ needs, as emphasized by opposition leaders.

Opinion: ‘Trudeau’s political problem is bigger than his debt problem’  

November 13, 2014

As the government deviates from its traditional fiscal anchor, allowing the net debt-to-GDP ratio to rise, questions arise about the sustainability of Canada’s finances. Freeland introduces a new fiscal anchor, aiming to keep deficits below 1% of GDP in future years, asserting that this strategy will ensure continued investments in Canadians.

In the face of rising debt and constrained fiscal options, the Trudeau government must carefully navigate its spending priorities to address the multifaceted challenges facing the nation. Balancing economic recovery with essential program funding is a delicate task, one that demands strategic decision-making to safeguard Canada’s financial stability and the well-being of its citizens. (AI)

From sketch to finish, see the current way Graeme completes an editorial cartoon using an iPencil, the Procreate app, and a couple of cheats on an iPad Pro. If you’re creative, give illustration a try:

 

 

Tuesday November 21, 2023

As Black Friday sales week coincides with the Trudeau government's economic struggles, the unveiling of a carbon tax pause and questionable economic decisions leave the Prime Minister facing a significant political blowout, with polls shifting toward the Conservative Party and skepticism growing about the Liberals' ability to manage both the economy and climate change.

Editorial Cartoon by Graeme MacKay, The Hamilton Spectator – Tuesday November 21, 2023

Trudeau’s Economic Winter: As Black Friday Discounts Soar, Liberals Face a Chilling Blowout in Polls

September 19, 2023

As Black Friday sales week unfolds, Justin Trudeau faces a political clearance event of his own, with the latest polls revealing the Conservative Party leading by a whopping 14 points nationally. The only bustling storefront in Trudeau’s political mall seems to be his remaining bastion of support – women over 54. But with the unveiling of the economic statement, the Prime Minister might find it harder to convince Canadians that his government is still on the right track.

News: Freeland to deliver $15-billion in rental housing loans in slimmed-down fiscal update  

Canada's Environment Minister, Steven Guilbeault, faces internal conflict within the Liberal government due to a sudden policy reversal on climate change, particularly the exemption for home-heating oil in Atlantic Canada, sparking criticism and raising concerns about the coherence and consistency of the government's climate policies.

November 4, 2023

In a bizarre twist, Trudeau, known for championing a national carbon tax to combat climate change, recently hit pause on the carbon levy for home heating oil. This decision, framed as a temporary relief for lower-income Canadians, has ignited a storm of criticism and exposed the fragility of his government’s climate policies.

Attempting to capitalize on the situation, federal Conservatives swiftly introduced a motion to extend the home heating oil pause to all forms of home heating. Even the left-wing NDP joined the chorus, criticizing the Liberal policy as unfair to Canadians outside the Atlantic region.

The federal government, led by Justin Trudeau, is making changes to its climate policy, which primarily benefit Atlantic Canada. These changes include increased rural rebates and exemptions for home heating oil from the carbon tax. This has generated mixed reactions and debates.

October 28, 2023

As Trudeau resists further carve-outs to the carbon price, experts suggest that this seemingly minor amendment could jeopardize the government’s signature climate legislation. The narrative around the carbon tax, once a cornerstone of Trudeau’s environmental agenda, now seems to be melting faster than an ice cap in a heatwave.

Amid sagging poll numbers and growing skepticism about the Liberals’ ability to manage the economy, Finance Minister Chrystia Freeland is set to unveil the “fall economic statement.” As the Liberals grapple with a slump, the statement is anticipated with both curiosity and doubt, especially considering the cost-of-living concerns Canadians face.

While Trudeau claims fiscal responsibility, critics argue that his government’s spending spree has inflated annual budgets well beyond their initial plans. As Canadians grapple with an affordability crisis, rising prices, and a lackluster economic outlook, the fall economic statement is poised to be a tough sell for a government that seems increasingly out of touch.

News: Poll suggests widespread dissatisfaction with Trudeau government  

December 30, 2021

As the Trudeau government attempts to convince Canadians of its economic prowess, the data tell a different story. With a decade of lackluster growth, a public sector rising in cost and inefficiency, and a slew of regulatory initiatives impacting businesses and consumers, the economic reality clashes with the Liberal narrative.

While the fall economic statement may promise efficacious fiscal management, many Canadians remain unconvinced. As the government walks the tightrope between necessary investments and fiscal responsibility, it seems the Trudeau administration has a tough sell ahead, and the Black Friday blowout might just extend into the political arena. (AI)

 

Tuesday March 28, 2023

Editorial Cartoon by Graeme MacKay, The Hamilton Spectator – Tuesday March 28, 2023

Freeland Promises Affordable Life for Canadians with Budget 2023, But Taxes and Spending Raise Doubts

January 24, 2023

Oh joy, it’s that time of year again: Budget season. On March 28, Finance Minister Chrystia Freeland is set to release the government’s plan to make life more affordable. But don’t get too excited, middle-class Canadians, because just four days later, taxes will be hiked. And it’s not just one tax increase – it’s several. Federal alcohol taxes are going up by 6.3%, adding to the already exorbitant taxes Canadians pay for their brews. Carbon taxes are also increasing, with the average household facing a bill of between $402 and $847 after rebates. And that’s not all. Payroll taxes will cost those making $66,600 or more an extra $305 this year. Feeling more affordable yet?

Prime Minister Justin Trudeau may tout his government’s $10-a-day childcare, GST rebate, dental care, and housing benefit, but let’s not forget that it’s all being paid for with borrowed money. And with the debt reaching $1.2 trillion and interest charges totaling $35 billion annually, Trudeau’s borrowing is only delaying the bill to taxpayers. So much for making life more affordable.

November 3, 2022

The government could show some spending restraint and make life more affordable for Canadians, but don’t hold your breath. Freeland already overspent by $20 billion in just seven months last year. And while there will be some measures aimed at helping Canadians, like an extended GST tax credit and a higher ceiling for withdrawing money from education savings plans, it’s not enough to outweigh the tax increases and borrowing.

News: Chrystia Freeland’s federal budget will tackle high cost of living: sources 

Perhaps if the government took a more balanced approach to spending and taxation, Canadians could actually feel some relief from the pressure on their wallets. But until then, it seems like we’ll just have to get used to being overtaxed and overburdened. Cheers to that! (AI)

From sketch to finish, see the current way Graeme completes an editorial cartoon using an iPencil, the Procreate app, and a couple of cheats on an iPad Pro. If you’re creative, give editorial cartooning a try.

 

Wednesday January 25, 2023

Editorial Cartoon by Graeme MacKay, The Hamilton Spectator – Wednesday January 25, 2023

Bad Government – Worse Alternative

Trudeau is already into his eighth year in power and he has enough collective wisdom advising him to have understood that his political “biological clock” is ticking.

January 11, 2023

He has outstanding ministers like Anita Anand, Marc Miller and François-Philippe Champagne who would like their chance. The exceptional Chrystia Freeland is tired of just drumming her fingers on the table and may bolt if Trudeau sticks around.

If he does, there are items on his balance sheet that stand out for hard-pressed Canadians. Although plagiarized from the NDP, Trudeau has negotiated and put in place a plan to provide quality affordable daycare. Quite a feat.

At the same time, the chronic underperformers in key files such as Justice, Immigration, Transport and Public safety have been allowed to muddle along, accumulating errors until they become a crisis. Since when has it become a Herculean task to deliver a passport?

An impression of overall incompetence is beginning to stick to Trudeau. He needs a new broom to sweep clean in the PCO (Privy Council Office).

Trudeau’s worst mark on the progressive report card is in the environment.

October 28, 2021

When Guilbault wanders into a meeting of environmentalists today, those who once admired him now start analyzing their shoelaces.

Trudeau bought a pipeline to boost oil sands production but, ever eager to please, Guilbeault surpassed his master by going along with the mindless offshore oil extraction project at Bay du Nord.

Guilbeault has the temerity to try to sell it as”net zero,” by referring only to the extraction process. It’s embarrassing that he thinks he can con people into forgetting that the petroleum is going to get burned somewhere on the planet, contributing of course to global warming and climate change.

At the UN Biodiversity Conference in Montreal, Guilbeault has just promised to restore 19 million hectares of land. That lofty undertaking, without the slightest hint of a plan (or a deal with the provinces) only served to remind Canadians of another vapid promise Trudeau made during a previous election: plant a billion trees. The actual number of trees planted was adjacent to zero. Make the announcement and disappear, sums up the Liberal strategy on sustainable development.

August 5, 2022

Brace yourselves because the new year, 2023, will likely be an election year. Should he choose to stick around, Trudeau will be in his fourth contest since first winning in 2015, a prospect as tiring for his troops as it is for Canadians.

The eternal Liberal rallying cry of “don’t split the vote” will also have more resonance than ever. Sure the Liberals successfully portrayed Andrew Scheer as a scary anti-choice relic and Erin O’Toole as (implausibly) an anti-vaxer! They won’t have anything of the kind to throw at the ultra-woke Singh. They will just have to point to Poilievre and, like a scary tale around the campfire, tell folks that Pierre the evil troll is coming for them unless they re-elect Justin the good. (CTV News) 

From sketch to finish, see the current way Graeme completes an editorial cartoon using an iPencil, the Procreate app, and a couple of cheats on an iPad Pro …

Tuesday January 24, 2023

Editorial Cartoon by Graeme MacKay, The Hamilton Spectator – Tuesday January 24, 2023

Liberal Cabinet Retreat

Prime Minister Justin Trudeau made his first stop in Hamilton Monday a chance to grab lunch to go with MP Filomena Tassi at The Burnt Tongue on Locke Street.

October 28, 2022

The prime minister and his cabinet are staying in town this week from Jan. 23 to 25 for their post-holiday retreat.

After ordering a cheeseburger and broccoli cheddar soup, Trudeau took a moment to shake hands with the lunch crowd and pose for some photos.

Leaving the restaurant, he posed for a photo with Ashley Acacio and her three-week-old son Mac in his stroller, even correcting the position of a staffer taking a photo for the pair.

On the way to his vehicle, Trudeau hopped on an HSR bus that stopped to greet riders.

Meanwhile, about 200 demonstrators gathered downtown Monday to protest the retreat, calling for migrant rights. They were joined by anti-war demonstrators and about 25 anti-Trudeau and anti-vaccine mandate protesters.

The protesters marched along Main Street, across Summers Lane and blocked King Street in front of the Sheraton Hamilton Hotel for around 20 minutes.

Trudeau’s itinerary said he is expected to attend the retreat, which will focus on affordability and the economy, at 5:30 p.m. Monday. (Toronto Star) 

December 9, 2022

Meanwhile, it’s at the grocery store. It’s at the gas pumps. It’s at your favourite restaurant.

Nearly everywhere Canadians have gone in the past year, every bill might as well have had an extra charge tacked on to the bottom reading simply: inflation.

A shorthand for what’s essentially the rising cost of living, inflation swept across the globe in 2022 and Canada was not immune from its sting.

Canadians eager to travel in June after years of COVID-19 restrictions were met by a 49.7 per cent year-over-year hike in the cost of accommodations. The rest of that summer saw the average price for regular gasoline soar past $2 per litre in many parts of the country. And in October, Canadians were paying 44.8 per cent more for pasta from the grocery store than the same month a year earlier.

April 25, 2014

Poll after poll showed how stretched Canadian dollars had become amid 40-year highs in inflation, with many forced to make impossible decisions about how to feed their families, pay for medications and keep a roof over their heads.

More than a third (36 per cent) of Canadians say their financial situations are very bad or somewhat bad heading into 2023, according to Ipsos Public Affairs polling conducted exclusively for Global News between Dec. 14 and 16. (Global News) 

In the swearing-in of cabinet following the 2021 federal election, the dropping of the awkwardly named Minister of Middle-Class Prosperity, held by Mona Fortier, signalled the short termed portfolio (2019-2021) was an ill conceived addition to the executive team under Prime Minister Trudeau.