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Bond agency issues warning to Trudeau over Throne Speech spending plans

It is the second time in less than a month Fitch has had to warn Trudeau over government spending.

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A major bond rating agency wants answers as to how Prime Minister Justin Trudeau will pay for the litany of promises announced in his Throne Speech.

And Fitch Ratings warned Canada’s excessive spending is threatening its current credit level.

It is the second time in less than a month Fitch has had to warn Trudeau over government spending.

“New spending pledges announced by the Government of Canada in its latest speech from the throne will push the general government deficit and debt through FY22 further beyond Fitch’s June estimates and point to a broader expansionist fiscal policy,” said Fitch in a Friday release.

Poilievre tweet

“Canada’s (current rating of ‘AA+’/Stable) general government debt to GDP ratio is already significantly higher than the median of its ‘AA’ rated peers, and failure to set clear post-pandemic fiscal anchors and reduce the federal deficit to sustainable levels after the public health crisis could renew negative ratings pressure.”

Calling it “an ambitious plan for unprecedented times,” Trudeau’s Liberal government put forward its agenda for the future during a Speech from the Throne Wednesday.

Taxing the rich and a handgun grab were also promised in a speech that barely touched on the West and didn’t mention pipelines at all.

The 54-minute speech was a huge promise list of spending that will end up costing tens or hundreds of billions of dollars.

“Notably, there were no announcements for any offsetting revenue increases, though taxing wealthy Canadians and large digital service companies were noted as possibilities,” said Fitch.

Fitch estimates the 2020-2021 federal government deficit will be $380 billion.

“Canada has an historical track record of post-recession fiscal adjustments but has not experienced a deficit of this scale in its post-WWII history,” said the Fitch statement.

Dave Naylor is the News Editor of the Western Standard
dnaylor@westernstandardonline.com
TWITTER: Twitter.com/nobby7694

Dave Naylor is the News Editor of the Western Standard. He has served as the City Editor of the Calgary Sun and has covered Alberta news for nearly 40 years. dnaylor@westernstandardonline.com

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Kenney says Albertans may get ‘multi-issues’ referendum

The government has already committed to hold a referendum on equalization payments next October at the same time as municipal elections

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Alberta Premier Jason Kenney says the UCP could have multiple referendum questions for voters next year.

The government has already committed to hold a referendum on equalization payments next October at the same time as municipal elections.

Speaking virtually to the UCP’s AGM on Saturday, Kenney said the party is also looking at adding other issues.

“I believe on the big consequential issues it’s right to go to the public,” kenney told 1,400 delegates who had signed up for the virtual convention.

He said a decision to get rid of Daylight Savings Time, a Senate election, constitutionally changing property rights and a provincial pension plan are some of the things Albertans may have a chance to vote on.

Kenney spent most of his speech hi-lighting UCP policies they have brought in, including scrapping the carbon tax and repealing Bill 6.

“We are one-third through our mandate and we have implemented two-thirds of our 261 election promises,” said Kenney.

Dave Naylor is the News Editor of the Western Standard
dnaylor@westernstandardonline.com
TWITTER: Twitter.com/nobby7694

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RCMP able to save ice-bound calf in northern B.C.

The on-duty police officer responded to the area and was able to locate the calf clearly in distress

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For a B.C. Mountie, it was a very moo-ving rescue.

On Tuesday morning, RCMP were told about a young calf that had fallen through ice, into a slough along Farrell Creek Road, north east of Hudson’s Hope, in northeastern B.C.

The on-duty police officer responded to the area and was able to locate the calf clearly in distress, said the RCMP in a release.

“It was obvious that the calf had been doing its best to stay afloat and was getting tired, however could not move forward or backwards due to the surrounding ice,” said the release.

“Thinking quickly, and using any means available to the officer, and some locals that had stopped to assist, the ice around the calf was broken. The very tired calf was able to be lassoed and brought to the edge and out of the slough to rest.”

When we suit up and start our shifts each day, we really never have any idea what our day on the front line will entail,” said Cpl. Rob Gardner.

The front line officer, who responded to the scene, did a great job thinking quickly and outside the box to work with some locals to break the ice and free the small calf. We’d like to thank all those who stopped to assist with this rescue.

The wet calf, who seemed un-injured during the ordeal.

Rescued calf. Courtesy RCMP

Dave Naylor is the News Editor of the Western Standard
dnaylor@westernstandardonline.com
TWITTER: Twitter.com/nobby7694

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O’Toole says party unity is the only way to beat Trudeau

“Conservatives only win when we are united. We lose when we are divided,” said the Durham, Ont. M.P.

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The only way the Tories will beat the Justin Trudeau Liberals in the next election is to stay united, says the party’s new leader.

“Five years ago if you had said “Wexit”, people would have looked at you funnily,” said Erin O’Toole, at the UCP’s 2020 virtual AGM.

Speaking from an Ottawa backyard, O’Toole said Trudeau’s policies are sharply dividing the country but the only way to defeat him if for Conservatives to focus and stay united.

“Conservatives only win when we are united. We lose when we are divided,” said the Durham, Ont. M.P.

“In unity, there is victory.”

O’Toole said the party must increase it’s seat count in Ontario and pointed out the Tories have their first leader from that province “in about 60 years.”

O’Toole also lambasted Trudeau’s reaction to the COVID-19 pandemic currently sweeping the country.

“Canada is light years behind our allies (in terms of health care,)” said O’Toole, adding the government’s environmental regulations are “a national travesty.”

When asked about his support for the Paris accord on climate change, O’Toole said Canada can “lower emissions in a responsible way.”

Dave Naylor is the News Editor of the Western Standard
dnaylor@westernstandardonline.com
TWITTER: Twitter.com/nobby7694

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