Cheryl Gallant says the economy will only get worse.
Reacting to the fall economic update released earlier this week by Liberal Finance Minister Bill Morneau, the Conservative MP for Renfrew-Nipissing-Pembroke says middle-income households saw many tax breaks cancelled which will end up hurting them.
For example, she says cancelling the Family Tax Credit will cost families as much as $2000 a year. She says axing those breaks has a major impact on families living in towns like Barry’s Bay where many live off of one salary and now can’t spend the extra money.
Although some taxes were paired down a bit, Gallant says it’s too little too late for big manufacturers to benefit. All in all, she says “the balanced budget isn’t going to happen, so I guess it doesn’t balance itself”.
Gallant adds that she expects a sluggish economy will lead to the Liberal’s calling an election come spring. She says they’ll want to call it before the economy goes in a tailspin, which it will.
