Harper government spending too much: Tax watchdog

CTF Director Greg Thomas presenting Canada's national debt, Nov. 23, 2012.

Credits: Canadian Taxpayers Federation/Facebook


OTTAWA -- A taxpayer watchdog hammered the feds for their financial playbook on Friday and pointed to ballooning national debt set to surpass $600 billion this weekend.

The Canadian Taxpayers Federation (CTF) said Canada's national debt is now rising at a rate of $74.6 million daily and $3.1 million an hour.

CTF federal director Gregory Thomas said Prime Minister Stephen Harper promised to balance the books before the next federal election, but the government is failing to substantially slash spending.

Thomas also said stimulus spending during the 2008 recession was unnecessary.

The government recently revised figures to forecast a $1.8-billion deficit for 2015-16, not the $3.4-billion surplus projected in March.

The feds said the fiscal update included a $3-billion adjustment for risks linked to global economic uncertainty.

"We're committed to balanced budgets -- that's why we have significantly reduced wasteful government spending," said Kathleen Perchaluk, a spokeswoman for Finance Minister Jim Flaherty. "The federal debt -- measured in relation to the size of the Canadian economy is falling."

Sun News Videos

Mink farming

Nova Scotia produces half of Canada's mink fur.

Feminist 'consent underwear' spark debate

Do consent underwear just change the conversation from 'rape culture' to 'slut culture'?

Afghanistan's upcoming election

With an election rapidly approaching, change is on its way to Afghanistan. Good or bad, the world is watching.

Ezra Levant’s The Source is the most provocative and thought-changing multimedia show in Canada.

This show is 100% focused on the political battles taking place across Canada, in the United States...even around the world.

Michael Coren brings you strong, balanced opinions to challenge conventional thinking.

Byline brings you the stories you won’t hear anywhere else while exploring points of view that are all too often ignored.