“I think this is likely to be the worst budget since the [then-finance minister Allan] MacEachen budget of 1982, in the sense of pointing us in the wrong direction as to how we go about raising the incomes of Canadians and actually making Canadians feel better over the medium term,” Dodge said in an interview on CTV News Channel’s Power Play with Vassy Kapelos.
In a time of high interest rates and inflation, the 1982-83 federal budget, under then-prime minister Pierre Elliott Trudeau, became the object of political fury over spending, taxation, and wage restraint measures within it.
Dodge, who was governor from 2001 to 2008, was referencing the strong indications that in order to help finance the nearly $40 billion in pre-announced new spending without raising the deficit, the federal government may impose some form of individual wealth tax or excess profit tax on wealthy corporations.
Freeland will present the budget in the House of Commons on Tuesday afternoon, vowing a plan centred on “generational fairness.”
Seen somewhere: Why do they tax cigarettes? “To disincentivize smoking.” So why do they tax income?
