This presentation will look at key commitments made during the 2015 election as part evaluating the government performance on key files. This presentation is one opinion as such it is up to individuals to do their own research as part of understanding if the Liberal Party of Canada has met its election promises.

1. Liberal Canada – Year
One of their mandate
By: Paul Young, CPA, CGA

2. Agenda
• Family Tax Benefit
• Middle Class
• Honesty and Integrity
• Modest deficits
• Marijuana legalization
• Infrastructure funding
• Foreign Aid
• Help for Seniors
• CPP Enhancement
• Working relations with the Provinces

3. Key Planks

4. Elimination of Tax Loopholes
Comments:
• Elimination of the boutique and educational tax credits -
http://www.huffingtonpost.ca/cleo-hamel/federal-budget-child-
benefits_b_9558180.html
• TFSA moved back to 5,000 from 10,000 -
http://www.slideshare.net/paulyoungcga/pensions-for-canada-analysis-june-17-2016
• Elimination of principal residency for property held in trust - http://www.cra-
arc.gc.ca/gncy/bdgt/2016/qa12-eng.html (Based on residency status)
• Crackdown on evasion - http://news.gc.ca/web/article-en.do?nid=1049689

5. Family Tax Benefit
Source: http://www.cbc.ca/news/politics/calculator-canada-child-benefit-1.3504399
Issues:
• Where is the incentive to expand beyond 30,000
income
• Latest Retail Sales for August 2016 showed many
people were using the family tax benefit to pay down
debt or for savings Source:
http://www.slideshare.net/paulyoungcga/retail-
sales-canada-august-2016
• What about the impact of other government
policies?
• CPP hikes
• Carbon Tax/Pricing
• Hydro Rates

6. Poverty Levels / Canada
• Family Tax Benefit will reduced poverty levels
• How?
• Income
• Wages have become stagnated - http://www.slideshare.net/paulyoungcga/wages-and-employment-
canada-july-2016
• Part-Time jobs are growing faster than full-time jobs
• Good producing sector continues to bleed jobs
• Source: http://www.slideshare.net/paulyoungcga/government-policies-labour-market-canada-
67545343
• Household spending
• Sheltering and Food account for over 41% of the household spending - http://www.statcan.gc.ca/daily-
quotidien/160212/dq160212a-eng.htm

7. Middle Class
Key Comment:
• Treasury to be drained by $1.4B – Source - http://www.cbc.ca/news/politics/liberal-tax-drain-100-million-
1.3413516
• Taxing the richest - http://www.cbc.ca/news/canada/new-brunswick/higher-taxes-on-rich-may-miss-
revenue-targets-experts-say-1.3031842 or https://www.youtube.com/watch?v=pICUvNi95AY
• – Canada is still one of the best countries in the world -
http://news.nationalpost.com/news/canada/canada-named-the-country-with-the-best-reputation-by-
global-survey-again or https://ca.news.yahoo.com/blogs/dailybrew/canada-tops-the-world-as-most-
reputable-country-021908756.html or http://www.slideshare.net/paulyoungcga/middle-class-and-quality-
of-life-canada

8. Honest and Integrity with Financial Numbers
• Fundraising on the public dime -
http://www.therebel.media/innovations_minister_s_funding_announcements_follow_liberal_fundraisers
• Limo rides - https://www.thestar.com/news/canada/2016/08/18/limo-company-used-by-health-
minister-for-1700-ride-offers-refund-to-taxpayers.html
• Moving Expenses - https://www.thestar.com/news/canada/2016/09/23/liberals-try-to-turn-tables-say-
harpers-tories-paid-out-325k-in-relocation-expenses.html
• Climate Change - http://www.theglobeandmail.com/news/politics/canada-commits-265-billion-to-
climate-change-funding/article27507453/
• Trudeau and Wynne campaigning - http://ipolitics.ca/2016/02/14/trudeau-and-wynne-may-be-getting-
too-cozy-for-their-own-good/
• Trudeau and Nanny - http://www.cbc.ca/news/politics/trudeau-nannies-employment-1.3620702
• MP Renovation Cost - http://www.cbc.ca/news/politics/sohi-infrastructure-minister-office-renovations-
debate-1.3634811

9. Modest Deficits
Comments:
• The country is on track to run a deficit of C$34 billion ($25.7 billion) in the current fiscal year, almost
C$5 billion more than forecast in the government’s March budget, the report calculated. Over the next
five years, Canadian deficits are tracking C$16 billion more than forecast. Source:
http://www.bloomberg.com/news/articles/2016-10-13/td-expects-canada-to-run-bigger-deficits-than-
trudeau-budgeted

10. Marijuana Legalization
Comments:
• Enforcement issues - http://www.theglobeandmail.com/news/national/canadian-cities-challenged-by-
ottawas-pot-plan-vancouver-mayor/article32204568/
• Violations of international treaties - http://www.cbc.ca/news/politics/marijuana-legalization-pot-anti-
drug-treaties-1.3780661

11. Infrastructure Funding
Provincial dilly-dallying over eligibility and fine-print details has held up money for several provinces,
including Ontario, Alberta and Nova Scotia Source:
http://www.canadianmanufacturing.com/regulation/billions-dollars-infrastructure-spending-yet-start-
flowing-173930/

12. Foreign Aid
Comments:
• Expectations were low, but the federal budget released on March 22 provides little concrete encouragement in the
area of international development. In a section ambitiously titled “Restoring and Renewing International
Assistance,” the government commits to increasing the International Assistance Envelope (IAE) by $256 million
over two years – mere peanuts in relation to its other initiatives.
• The Harper government’s IAE reached $5 billion six years ago in 2010–11 and the Trudeau government does not
plan to even match that level until next year. If we take into account inflation, the Liberals are further still from the
modest goal of “restoring” foreign aid levels, which the Conservatives slashed in recent years. - Source:
http://www.cips-cepi.ca/2016/03/24/budget-2016-postponing-decisions-on-canadas-foreign-aid/
• Foreign Aid oversight - http://www.slideshare.net/paulyoungcga/why-does-foreign-aid-fail-to-help-poor-countries-
59777482

13. Help For Seniors
• GIS improvements or $947/year (Targeted low income seniors) -
http://www.benefitscanada.com/news/budget-2016-changes-to-oas-and-gis-
benefits-78787
• Issue hurting seniors
• Hydro costs hurting seniors
• Proposed carbon taxation will eat into household spending
• Drug/prescriptions
• De-listing of OHIP Services

14. CPP Enhancement
• Contribution rate to go from 4.95% to 5.95 -
https://www.sunlife.ca/Canada/GRS+matters/GRS+matters+articles/2016
/Breaking+News/Consensus+reached+on+CPP+enhancement+good+bye
+ORPP?vgnLocale=en_CA
• Impact to business
• Financial burden to business which can make them less competitive to their peers elsewhere
in the world - http://www.bnn.ca/cfib-calls-for-delay-on-final-agreement-of-cpp-changes-
citing-need-for-more-analysis-1.521851

15. Working relations with the Provinces
• After nearly a decade of a prime minister notorious for public tussles with premiers who challenged his policies,
Canada's provincial leaders reacted Tuesday to the electoral victory of a Liberal leader who has promised to work
harmoniously to advance their interests.
• During his time as prime minister, outgoing Prime Minister Stephen Harper was not shy about aggressively engaging
premiers who spoke out against his government and displayed an outward contempt for first ministers' meetings.
http://www.cbc.ca/news/politics/justin-trudeau-s-majority-greeted-with-optimism-by-provincial-premiers-
1.3280093
Issues facing the Premiers and lack of meeting with Prime Minister
• Carbon taxation - http://www.producer.com/2016/10/carbon-tax-not-part-of-new-sask-climate-change-plan/ or
http://www.slideshare.net/paulyoungcga/climate-change-policies-cap-and-trade-emissions-carbon-tax-carbon-
pricing-canada
• Healthcare accord - http://www.cbc.ca/news/politics/premiers-trudeau-health-care-1.3782875

16. Broken Promises
• http://globalnews.ca/news/3009595/justin-trudeau-campaign-promises-
kept-broken/