The Liberals are claiming victory today over Harper by introducing a budget amendment that will make Harper accountable for his budget measures. Some victory? Meanwhile the budget proceeds otherwise, as is, warts and all.
Meanwhile, what are the Liberals doing to make Harper accountable for his major budget transgressions of the past? Why the selective application of the standards of accountability? Are we to surmise from today’s Liberal actions that there is a statute of limitations that applies to Harper’s complete unaccountability for his income trust fraud?
We have been calling for true accountability on this matter for over two years, and have received none. Not from Harper. Not from the Auditor General. Not from the media. Not from the opposition parties. Notice that we haven’t been arguing for policy changes like an oil and gas carve out or a ten year extension, but rather the proof of Harper’s central policy rationale. i.e. alleged tax leakage.
The issue of income trusts is foremost, an issue about accountability, and tax fairness. When will the Liberals do something tangible about this policy that has seen Canadians lose $35 billion of their lifetime savings and seem many Canadians retirements’ destroyed by having to live on 50% of their former income? Rhetoric without action, is meaningless, and does nothing to comfort those who have been deeply adversely affected.
Meanwhile, all taxpayers are bearing the cost of this most self-destructive policy, since over $1.2 billion in annual tax revenue is being lost from the takeover of income trusts via non taxable entities and through non taxable acquisition structures. Real tax leakage has become the substitute for phantom tax leakage. That number will soon rise to $7.5 billion. If the Liberals do not act when the opportunity presents itself, then they become complicit in the outcome.
Wednesday, January 28, 2009
Posted by Fillibluster at 4:20 PM