Economic failure

Three Economic Risks Now Backfiring on Tories

1. Bet on oil as economic engine

A common phrase used to explain Canada's current recession, announced just two weeks ago, is that Harper "bet big on oil and lost" -- but what exactly does that mean?

Critics say our economy has been too focused on oil, so when prices crashed late last year, a large portion of the Canadian economy went with it.

2. Overstated job creation record

The Tories often brag about creating 1.3 million jobs since the 2008 recession stabilized in 2009, but Unifor economist Jim Stanford says that's not enough to restore pre-recession employment.

Job creation figures under the Conservative government show a stagnant job market and, in some cases, private sector wages rolling back, Stanford said.

3. 'Irresponsible' tax breaks

Six consecutive deficits could have been avoided had the Conservatives stopped giving away tax breaks it couldn't afford, said Dennis Howlett, executive director of Canadians for Tax Fairness.

Howlett blames shaving points off the GST, so-called boutique tax credits like the recentchild benefit increase and a low corporate tax rate for the government's funding shortfalls.

http://thetyee.ca/News/2015/09/17/Economy-Backfiring-on-Tories/