Liberal times are prosperous times

For more than a decade, Liberal governments brought strong growth, eight consecutive balanced budgets, and sound economic management.

No Canadian government has inherited a worse fiscal situation than we did in 1993 when we took on a $42-billion deficit from the Brian Mulroney Conservatives. And no government in recent decades has left the books in better shape than we did in 2005-06. Liberals cleaned up the fiscal mess left by the last Conservative government, and we will clean up the mess left by this one.

Today, under Stephen Harper’s Conservatives, the Canadian economy is experiencing its worst performance since the days of the Mulroney Conservatives. Canada is on the edge of recession after the worst two consecutive economic quarters in nearly two decades. In July, we lost 95,000 private sector jobs, inflation is on the rise, and the government is on the brink of a deficit.

As Canada’s manufacturing sector is hit by a high dollar, rising costs, and a downturn in the U.S., the Conservatives have taken a hands-off, laissez-faire, “I don’t care” approach, allowing hundreds of thousands of well-paying jobs to be lost.

Liberals believe the federal government has a role to play, working with businesses and labour to build a strong, 21st century economy. An economy based on knowledge, ingenuity and innovation. An economy that is economically and environmentally sustainable, spearheading new green technologies.

That’s why we will invest $1 billion in the Advanced Manufacturing Prosperity (AMP) Fund to promote a greener, more competitive manufacturing sector.

It’s why we’ll cut personal and business taxes by up to 10 per cent under the Liberal green shift plan, so that a family with an income of $74,000 and two children will receive nearly $1,400 in income tax cuts and credits.

Liberals will reduce poverty, invest in a green economy – and restore fiscal discipline to government. Liberal times are prosperous times.