In 2008, Mr. Harper promised “a steady hand on the wheel, even if the world’s financial markets get a little rocky.”
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Has he delivered on this promise?
- For the first five months of 2015, Canada has posted a $13.6 billion trade deficit. The previous record was $2.95 billion in 2009. Since Mr. Harper came to power in 2006, Canadian exports have only grown by 0.3%.
[Source, Source] - The Canadian economy shrunk by 0.2% in May, the fifth consecutive month of contraction indicating the economy was and most likely still is in a recession.
[Source, Source] - A 2012 study concluded that Canada’s economy was suffering from “a mild case of Dutch Disease”. This is where an increased focus on the oil industry caused a significant decrease in the manufacturing industry.
[Source, Source] - Mr. Harper’s focus on the energy sector has changed the Canadian economy. First, there has been a downturn in other exporting industries, especially manufacturing in eastern Canada. Second, it made Canada specially vulnerable to the recent crash in oil prices.
[Source; Source, Source, Source] - From January through August, 2015, 12,302 Albertans have been laid off as the energy sector has struggled.
[Source; Source, Source] - Mr. Harper’s government used $1.8 billion in Employment Insurance surplus funds to balance the budget, despite previously saying they would not. Meanwhile, more than 60% of unemployed Canadians are ineligible for E.I.
[Source, Source, Source] - Since elected in 2006, Mr. Harper’s government has overseen an average job growth of 1.0%, the worst job creation record of any postwar prime minister.
[Source, Source] - Canada’s unemployment rate in August 2015 was 7%.
[Source, Source] - If involuntary part-time workers and discouraged job seekers were added, then the unemployment rate would be 10.8%.
[Source, Source] - In calling the 2015 federal election earlier, Mr. Harper will have Canadian taxpayers pay an additional $125 million dollars, reaching a projected total of $375-million.
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