The Canadian Minister of Finance Joe Oliver muses on the latest news, which is published about the introductory phase of the legislation on the budget. According to the report, it is considered to be the worst policy for the Canada. If this balance budget will be implemented then it would bring more disaster like the Europeans who suffered with the same kind of crises and prosperity of the country will be at a risk.
The new plans about this budget are not yet uncovered by the Government. According to the survey this balance budget plans always fails and it is a serious mark in the faces of the rulers of the country. The idea of forcing the US Government for this plan will severely damage the economic growth in the country.
With the destructive budge plans, the country is facing the unfavorable consequences of forcing the Government to control the deficit expenditures which are spending on the crises in the country. This is a serious blow to the employment rate in the country as most of the people are jobless and are finding jobs in the local companies. In a report, the unemployment rate in the Canada is now 25%, while the fresh breed of the country whom the country could depend for the prosperity are failing to find a job. The rate of the youth unemployment is increasing dangerously more than the 50%. As a result majority of the Canadians is leaving the country in search of the new jobs in other countries. The Government is trying to overcome the critical situation by launching the tough ideas to the social programs to control the migrating rate in the country.
After the announcement of the Steven Poloz who is a Canadian Bank Governor about the atrocious growth in the Canada, the government is now forging before time with the strategic plans to balance the budget with legislation. With this insensitive plan, there would be the introduction of the income cutting policies which are beneficial to the rich. It will also double the limit of the annual contribution which is for the Saving Accounts with the Tax Free which is another benefit for the Canadians who live a luxurious life with the roughly savings $1,000 per month. Here the important question raised, is this serious situation for the people who are unable to earn $1,000 per month from their jobs.
The legislations on the new budget plan not only a question against the bad economy, but it also dooms the bright future of the new generations and inviting a depress economy of their lives where people hard to fulfill their basic needs in less savings.
The problem will go serious when the governments decided to spend the expenditures in two ways that one of the capital expenses and the other is the maintenance of the infrastructure. This plan will work, but it will take decades to get the benefits of these spending. The policy should be implemented for the advantage of the Canadians otherwise the country will face the same type of crises as suffered by the Europeans.