Former MP comments on next budget
Posted Jan 5, 2011 1:36 pm.
This article is more than 5 years old.
Former Tory MP Garth Turner, who is now a Canadian business journalist, hopes the movers and shakers in Ottawa reject calls to boost economic stimulus spending.
“The economy this year is going to be moved sideways at best and is probably going to dip a little,” he tells 660News, “what the United States example has shown us, is that you can spend your brains out on stimulus spending. It’s actually not going to make any difference if consumer sentiment doesn’t change and you just end up with the mother of all debt.”
“We’re okay right now, but we could be in bad shape in a year or two if we keep this up, you take a look at what’s happening in France and Britain and Spain and Greece and all kinds of places including the U.S. these people are wallowing in debt,” he adds.
Turner also thinks the withdrawl of stimulus will not be without pain, but the country will be better off in the long run.
