Pierre Poilievre, Conservative MP from Carleton, Ontario. (Zoom screenshot - rdnewsNOW/Sheldon Spackman)

By Sheldon Spackman

Debt Crisis discussed

Chamber’s Breakfast with MPs highlights growing concern with Canada’s debt

Apr 8, 2021 | 12:08 PM

Dozens of members from the local business community were joined virtually by municipal and provincial politicians Thursday morning to hear of both hope and concern for Alberta’s and Canada’s future.

The annual “Coffee Break with the MPs” hosted by the Red Deer and District Chamber of Commerce featured Conservative MPs Blaine Calkins for Red Deer-Lacombe and Earl Dreeshen for Red Deer-Mountain View, and Pierre Poilievre from Carleton, Ontario.

The event held through Zoom saw the trio blast the federal government for its handling of the COVID-19 pandemic and the country’s rapidly rising debt stemming from it.

Calkins brought attention to the struggles faced by businesses during the pandemic.

“You are the foundation of everything we have and everything that’s good that we have here, not only in our community but in our province and in our country. You are basically the foundation of the tax base for which all things matter,” said Calkins.

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“I know that there’s been an incredible cost and incredible burden born by many businesses in the constituency and I want you to know that it occupies my thoughts and my concerns more than anything else in recent history.”

Blaine Calkins, MP for Red Deer-Lacombe. (rdnewsNOW / Sheldon Spackman)

“Whether you’re in the hotel or restaurant industry, if you’re in the travel and tourism sectors, any of that part of the economy, it is an absolutely miserable time and I just want to thank you for your fortitude, thank you for your strength, your courage, your convictions and keeping your dreams and your aspirations alive as we move through this,” added Calkins.

Dreeshen opened his remarks by noting the concerning size of Canada’s national debt and ongoing deficits.

“We certainly understand the need to provide businesses and workers with relief assistance in these unprecedented times, but there also needs to be a plan to return us to balanced budgets,” said Dreeshen.

“Right now, we’re in a very difficult situation. We have been put there because of lack of preparedness as far as the federal government is concerned.”

Earl Dreeshen, MP for Red Deer-Mountain View. (rdnewsNOW / Sheldon Spackman)

“From initial denial, to inadequate travel screenings, to months of delay of procurement, to billions of dollars wasted on unused medical supplies, these all stem from the Liberal government’s mismanagement,” suggested Dreeshen.

Poilievre focused his opening remarks on what he too describes as a growing debt crisis in the country.

“A debt crisis is when governments or large parts of the population cannot make their debt payments, leading to massive defaults,” he explained.

“They are of devastating human impact. For example, two Harvard professors studied the impact of debt crisis and found that on-average they increased unemployment by seven percentage points. A study from the University of Calgary showed that a one percentage point increase in unemployment leads to a two percentage point increase in suicides.”

Poilievre added, “A debt crisis currently accompanies a 30 per cent reduction in housing prices, wiping out a third of the biggest asset of almost every household in the jurisdiction affected,” he exclaimed.

Other topics touched on included the carbon tax, pipelines, Canada’s labour market, mental health funding, the opioid crisis, and the need to open up Canada’s economy through a reduction in taxes and making it easier to approve building permits in municipalities.