March 27 , 2008
What does the latest Ontario budget and Gilles Duceppe the leader of the Bloc Québécois have in common ?
They both advocate spending the budgetary surplus on stimulating the economy and undertaking necessary investment in infrastructure.
Ontario plans to spend 1 billion dollars of its budget this year on needed infrastructure and capital works. In doing so it has done the right thing despite criticism from the Federal Finance Minister that they cut taxes instead. Instead of running a billion dollar or more surplus they invested it wisely in infrastructure.They might also have cut taxes but not at the expense of necessary infrastructure.
The Bloc Québecois leader Gilles Duceppe in a speech to the Montréal Board of Trade recently very sensibly proposed that the Federal Government spend 7 of the 10 billion dollar surplus that the Conservatives reserved entirely for debt repayment on aid to industry in difficulty, infrastructure improvement, research and development and funding for higher education.
Sur cette question M. Duceppe merite mes felicitations pour intelligence, courage et bonne recherche. The Ontario government likewise deserves congratulations.
Both Duceppe and the Finance Minister of Ontario might have gone further in this Keynesian direction given our current circumstances but it is a good start nonetheless.
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