Surplus Squandered – Spending Jumps 15%

Whatever Happened to the Old Paul Martin? Taxpayers Lament his Disappearance.

Ottawa: The Canadian Taxpayers Federation (CTF) reacted today to the announcement that the federal government’s surplus for the last fiscal year (2004-05) will be $1.6-billion, down from the $3-billion forecast by Finance Minister Ralph Goodale in the February budget. Last year, the surplus was $9.1-billion.

"Ottawa's program spending jumped over $21-billion in a single year and the surplus has been squandered," said CTF federal director John Williamson. "Over the previous three years, the period between 2000-01 and 2003-04, program spending increased by $22.7-billion or 19 per cent. A 15 per cent annual increase can only be described as utterly irresponsible. As Brian Mulroney might have said of the surplus, 'They pissed it all away.'"

"The government re-stated 2004-05 program spending by $4.6-billion, which is the amount of the so-called NDP budget," observed Williamson. "The last budget pegged spending at $158.1-billion and today it has come in at $162.7. It would appear Jack Layton’s two-year budget deal will be delivered twice. This should please the New Democrat opposition, but it leaves taxpayers footing the bill."

"Taxpayers are wondering who is running the Finance Department. The tax-and-spend Liberals or the tax-and-spend New Democrats? It is impossible to tell the difference," concluded Williamson.

John Williamson
Canadian Taxpayers Federation