Kenora MP Eric Melillo says a Conservative government could eliminate Canada's federal deficit within 10 years. Earlier this week, the Parliamentary Budget Officer said Canada could see deficits until 2070 if we remain on the same economic plan.
"We believe that our plan to eliminate Candace deficit over next decade by investing in economic productivity and freezing up stimulus measures as things will open and get back to normal will be able to get us there," said MP Melillo.
"Runaway spending will threaten the sustainability of our public services and the programs that Canadians rely on," continued Melillo.
The federal Liberals have run back-to-back historic deficits to fight the COVID-19 pandemic and spur economic recovery in recent years. The 2021-2022 deficit is $154.7 billion, down from a record $354.2 billion deficit in 2020-2021.
In 2009, Canada posted its largest deficit in history which was due to the financial crisis of 2008. The deficit that year was $55 billion.
The federal Liberals don't have a plan to return to a balanced budget.
"With a plan to balance the budget over the next decade, I believe that will get Canada headed in the right direction and protect our public services because we simply cannot pass on unsustainable debt to the next generation," noted Melillo.