New Democratic Party 🍁 Nouveau Parti Démocratique

Revenue measures

We recognize that investing in infrastructure and people will increase the deficit in the short term. But that’s a political choice—and it’s one we’re proud to make. When faced with the fallout of a reckless trade war, we won’t balance the books on the backs of workers and families. We’ll protect, strengthen and grow what makes Canada, Canada: strong public services, good jobs, and a government that doesn’t walk away when people need it most. This isn’t just about numbers—it’s about values, and the kind of country New Democrats are fighting to build.

Additional revenue-raising measures such as a new tax on extreme wealth will help keep our debt-to-GDP ratio at a sustainable level - in line with other OECD countries. These measures also ensure that the costs of the trade war are fairly allocated and those able to contribute the most will be called upon to do so. A surtax on the most profitable corporations will help balance new spending on programs and prevent these initiatives from becoming a structural deficit. These programs will also benefit businesses by better supporting their workers and their customers. These revenue measures will still leave Canada’s personal and corporate tax rates competitive with peers in the developed world. We will not enter a race to the bottom by following the extreme tax cutting of the United States’, which is known to worsen inequality without improving the economy. We will also realize cost savings by reversing the Liberal government’s trend of increasingly using expensive external contractors to do work that could be done by the professional civil service.

We recognize the importance of the government living within its means. As the trade war subsides, unemployment decreases and our economy reaches a more stable footing, we will take steps to return to a path to balance.

Further aggressive steps will be taken in an attempt to repatriate the vast amount of money that the PBO estimates is due to the federal government but not paid due to the use of tax havens and other loopholes. In a time of economic and fiscal upheaval, it is essential that as much of this unproductive capital as possible is collected in order to contribute to our recovery. We are also committed to bringing greater transparency and accountability to the federal budget-making process. This includes strengthening the role of House of Commons standing committees in reviewing and approving government estimates. Canadians deserve to know not just where their money is going—but whether it’s actually delivering results.

By improving oversight and linking spending to clear policy outcomes, we can ensure public dollars are being used effectively to improve people’s lives, protect essential services, and prevent waste. This is how we rebuild trust in government and ensure it works for the people it serves—not for insiders or private interests.