The next topic began with a question to Justin asking “You are committed to taking us into deficit to fund your infrastructure plan. Spending money is an easy promise. What does success look like?”
In response Trudeau compared deficits for infrastructure to a family taking bank loans to renovate. He said the Liberals are campaigning on deficits because the time to invest is now and not 3-5 years later like the NDP. Trudeau also said he would work with municipalities to find the infrastructure that needed investment. In answer to a question about his infrastructure bank, Trudeau said it would be a bank to allow provinces and municipalities borrow at the same cost as the federal government. He also said that he was looking at more pension plan investment into Canada after investing in infrastructure.
After Trudeau finished David Walmsley asked “Mr. Harper do you think Mr. Trudeau is on to something?” Harper responded with “Absolutely not,” defending it with his investments into the economy and a balanced budget. Mulcair called Trudeau’s plan “absolutely reckless” saying the NDP would be the “reliable long-term partner” to assist Canada grow its infrastructure. In defence Trudeau said that Canada’s debt to GDP ratio was low and interest rates have never been lower so it was a good time to borrow and invest.
When Harper rebutted Trudeau he spoke of both Liberals and NDP planning to raise taxes and defended his history of not raising taxes. Harper was then faced with a Trudeau defending Mulcair saying the Liberals were the only ones who were committed to raising taxes on the one percent so they could lower taxes for the middle class. Immediately Mulcair spoke about raising taxes for large corporations saying “they are the only ones who are not paying their fair share”, closing tax loopholes, and not raising personal income taxes.