MNI:Conservatives Pledge To Slim Canada Deficit 70% In 4 Years

Conservative Leader Pierre Poilievre’s election platform pledged to slim Canada's budget deficit to CAD14.2 billion over four years, with the plan out less than a week ahead of the April 28 election seeking to reverse a collapse in polls against Liberal Mark Carney.

The shortfall for the current fiscal year that began April 1 will come in at CAD31.4 billion instead of the Parliamentary Budget Officer's baseline of CAD46.8 billion and Liberal Mark Carney's plan for CAD62.3 billion, Poilievre said Tuesday. Like the Liberals the platform relies partly on spending cuts of up to CAD9.8 billion in the final year, goals that past governments have found hard to realize. 

The plan "cuts the Liberal deficit by 70% with less spending on bureaucracy, consultants, foreign aid, and handouts to insiders and special interests, while boosting growth with resource jobs," Poilievre said in a statement. Carney’s platform released Saturday saw the deficit growing this fiscal year to 2% of GDP. 

Canada hasn't clearly balanced the books since 2008, though it's retained triple-A credit ratings and the red ink is a fraction of American deficits of more than 5% of GDP. 

Most Conservative measures have already been announced including plans to speed up approvals of natural resource projects, lower personal taxes and to boost the housing supply. Poilievre also said he wants to build an energy corridor within Canada to cut vulnerability to U.S. economic threats. (See: MNI: Canada Will Struggle To Wean Off U.S. Trade Dependence)

Conservatives would also "launch an oligopoly review of key federally-regulated sectors to increase competition and lower costs for Canadians" according to their plan.