Derek Sloan's Plan for the Economy

1. Invest at Home: Trudeau has used the public purse to spend on many international initiatives that have questionable value. Canadians should not be paying for his virtue signaling campaign!

Where is money currently going that could be spent at home? Here are three examples:

$750 million on abortion (Globe and Mail, Michelle Carbert, June 4, 2019)

$850 million on the WHO (‘A Global Challenge’, CTV News, May 4, 2020)

$600 million on media bail outs (CBC News, Tom Parry, May 23, 2019)

These three figures alone amount to $2.2 billion that can be spent in Canada instead to help Canadians. Further savings will result from stakeholder consultations across government and industry to ensure tax money gets results for Canadians.

2. Infrastructure: Too often governments have engaged in political patronage through frivolous “infrastructure” spending on make-work projects. As Prime Minister, I would require that federal infrastructure spending be on projects proven to raise private sector productivity, and I would follow the CPC Policy Booklet’s directive to favour P3s (Private-Public-Partnerships) at every turn to reduce costs for the tax payer in new infrastructure projects.

I believe that the best infrastructure projects are the ones that reduce costs for private businesses, primarily through enhanced transportation networks, reliable water and waste-water management, and rural broadband internet access. These measures have been shown to boost real GDP over the long-term by up to $6 per dollar spent.

3. Transit: Transit is a key issue for urban centres. The economic cost of congestion is high and growing. Transit issues are close to the hearts of urban voters. This is both why Rob Ford won the Mayoral race for Toronto in 2010 and one of the reasons why Doug Ford swept the GTA in 2018 provincially. I will ensure that the Investing in Canada Infrastructure Program, which partners with provinces, will prioritize transit projects above all else in order to support the development of subways in Montreal, Toronto, and Vancouver, while expanding bus and rail service for all other cities in Canada.

4. Stop Corporate Welfare: Currently the default thinking in political circles, when it comes to industry support, is to use government money to support weak industries. This type of thinking is endemic both in liberal and conservative circles. Governments are spending money on companies that are the weak points in the economy. Our industries need innovation, not subsidies. As Prime Minister, I will work to replace corporate welfare with tax incentives to innovate at home, as laid out by the CPC 2018 Policy Booklet, with further development by our grassroots members between this leadership race and the next election.

5. Balance the Budget: Trudeau ran on a campaign that it is acceptable to run deficits in good times as well as bad. There are serious deficiencies in this strategy. Several academic studies indicate that deficit spending actually reduces government revenues, since people find that the government does not manage the public’s money well, and they have additional incentives to engage in underground economic activity, paying cash to avoid taxes. Balancing the budget responsibly will take several years, but we can grow the economy to speed up the process. Growing the economy in reality means real people in real communities growing their own local economy. That is why most of my economic platform will be the result of a grassroots policy process to vote on proposals from every riding and region to grow their local economies.

6. Support Small Businesses: Click here for my Small Business Plan.