Juno News - Carney STRIKES OUT in Asia & APOLOGIZES to Trump

00:00:00.000 well it's been a long time coming too long frankly but finally canadians are about to get a picture

00:00:10.940 of the state of the country's finances a federal budget is scheduled to be tabled tomorrow and the

00:00:16.620 canadian taxpayers federation says prime minister carney must put an end to a decade of trudeau

00:00:22.540 style spending binges but fears prime minister carney's budget may in fact be even worse i think

00:00:30.100 as carney is vowed to both protect essential programs while also promising to spend big on

00:00:35.920 so-called nation building projects in housing defense infrastructure and innovation the budget

00:00:42.740 is also expected to show a fiscal deficit of somewhere between 70 and 100 billion dollars

00:00:48.000 meaning it'll cost taxpayers more than ever to service the interest on canada's ballooning debt

00:00:54.080 the ctf's franco terrizano will be joining us a little later on with his thoughts

00:00:58.620 now carney came back empty-handed from his meeting with president xi of china but says the door is

00:01:05.820 now open for some kind of resolution to the issue of chinese tariffs on agriculture products from

00:01:12.640 canada you were talking to us about your meeting with president xi you said that this would be good

00:01:17.280 for canadian workers and their families and so for the people who are producing canola and pork and

00:01:21.920 seafood in canada what did you get out of this well for those hard-working farmers uh fishers um

00:01:28.720 uh a pathway to address the tariffs that china has on them and you know we're going to be working hard to

00:01:36.960 get those uh result and and and and move forward the first thing the second thing it opens up a much

00:01:42.720 bigger uh set of opportunities for a broader range of canadian businesses

00:01:48.400 well pathway or not conservative leader pierre polyev says when it comes to trade prime minister

00:01:53.840 carney has completely failed to deliver and even the cbc was forced to acknowledge the pm's failures

00:01:59.760 after seven months and 20 trips abroad it seems like everywhere mark carney goes with these grand

00:02:06.400 meetings uh and photo ops we end up with more tariffs his failures abroad are costing us at home

00:02:12.320 he he met with the chinese president you know and they made a decision that their officials were

00:02:16.400 going to get together and try and solve the trade irritants more he is trying to make some progress no

00:02:21.520 you don't see those things as a bit of progress what progress can you name one tariff line that he's

00:02:26.720 reduced abroad not at this stage no not one he said seven months so what he's been on 20 trips

00:02:32.080 poor rosie turns out president trump was telling the truth when he said canada apologized for the

00:02:39.120 anti-tariff ad prime minister carney admitted as much to reporters let's listen did you apologize

00:02:44.640 to donald trump about ontario's anti-tariff ad uh i did i did apologize uh to the president um

00:02:51.040 president was offended by the act uh or by the ad rather um and uh it's not something i would have done

00:02:57.280 which is uh to uh put in place uh uh put in place uh that advertisement and uh so i apologize to him

00:03:03.840 things happen we take the good with the bad and i apologize to him that he viewed the ad with you

00:03:11.520 in advance of it going to air since you're the person that's solely responsible for negotiations

00:03:15.920 did you inform mr ford that this is something that you did not want to go forward with yes

00:03:21.040 well you saw what came of it well that's not ford's version

00:03:25.120 doug ford said today he doesn't recollect it happening that way maybe he experienced it

00:03:30.080 differently he claims there was no expression of reservations in terms of running the ads by

00:03:35.680 prime minister carney they can't both be telling the truth

00:03:39.520 anyway polly ev says carney embarrassed the country by approving the ads to begin with

00:03:45.920 do you think it was appropriate for the prime minister to apologize to trump for the ontario ad

00:03:52.240 and mr carney has been very duplicitous he approved the ad and then he condemned the ad

00:04:00.080 and then he apologized for the ad he embarrassed himself and regrettably the whole country

00:04:07.280 and we can't trust mark carney abroad we can't afford him here at home what a fiasco the anti-tariff ad

00:04:16.240 led to the termination of trade talks between canada and the united states and may very well

00:04:20.800 have scuttled a deal said to be all but completed joining me now is franco terrazzano the canadian

00:04:27.040 taxpayers federation on the eve of a federal budget welcome franco hey mark thanks for having me on

00:04:33.920 oh you're welcome i mean uh we have the budget coming up tomorrow we're going to get to that in a

00:04:39.520 minute but we also have this back and forth going on between the former best buds you know doug ford

00:04:46.080 and mark carney with different accounts of exactly what happened ahead of the release of this

00:04:51.680 controversial ad that led to the scuttling of trade negotiations between canada and the united states

00:04:58.320 with ford now saying well i don't remember frank i don't remember uh prime minister carney telling me

00:05:04.320 not to run these ads so what do you make of that well it's a huge waste of money right

00:05:09.360 millions of dollars down the drain but it's even worse than that because you're spending millions

00:05:13.280 of dollars of taxpayers money on this ad and like completely derailing our trade negotiations with

00:05:19.280 united states so i think like people have every right to hoard uh to hold uh premier doug ford

00:05:25.360 accountable and potentially even prime minister mark carney right the question is is when if and how

00:05:31.040 much did carney know of this ad before it went out the door but look we're talking about millions of

00:05:35.200 dollars from taxpayers for this ad and to completely derail our trade negotiations with our biggest

00:05:41.600 trading partner i mean what a complete waste of money and the premier needs to be held accountable

00:05:46.080 to this uh for this at the very least yeah absolutely and the leader of the conservative

00:05:51.360 party of canada has made that point as well which is you know you can't distance yourself from an ad that

00:05:56.960 you personally approved so this is just an absolute fiasco this whole thing but let's talk a little

00:06:04.160 bit about the federal budget scheduled for tomorrow now carney you know really should put an end to a

00:06:12.240 decade almost of trudeau style spending in terms of the binge that we have seen but uh you have some

00:06:18.880 concerns that it's not going to work out that way don't you yeah i'm very worried that it's going to be

00:06:23.680 another trudeau style budget right more debt higher spending a bloated federal government i mean look

00:06:30.240 like we just saw a decade where the federal government under trudeau doubled the debt okay

00:06:36.640 canadians kids grandkids maybe even great grandkids are going to be making payments on that debt for the

00:06:42.240 rest of their lives and the reason that the debt spiraled out of control is because spending spiraled

00:06:48.080 out of control right and let's just be so real for a second regardless of what is going on internationally

00:06:54.080 if any politician spends one dollar more than trudeau that should be considered a failure

00:07:00.160 especially for prime minister mark carney he's the one who sold all these canadians on this idea that

00:07:05.680 he was the man with the plan right he's the economic and financial guru well if we get this budget and

00:07:12.000 the debt is up and spending is up that should be considered a failure yeah absolutely but we have the

00:07:19.840 prime minister coming up and saying we have to protect essential programs so you know we're not

00:07:25.600 going to be cutting those types of things and we also have to have money allocated for these nation

00:07:31.840 building projects we're talking about housing defense infrastructure innovation all of that is

00:07:37.280 going to cost billions of dollars i mean especially when you're talking about defense and elevating

00:07:41.280 spending to two percent of gdp i mean where's he going to find the money for all of this franco well

00:07:46.160 the government doesn't have any money for this right so look if they have new spending priorities

00:07:50.160 they better get up the big pair of scissors and cut somewhere else and like let's just put this extra

00:07:55.360 defense spending into context there's two things on that number one the additional defense spending

00:08:00.720 is what about nine billion dollars extra on a 550 billion dollar budget really so you're telling me

00:08:07.360 that there's no place else to cut significantly to fund that uh but the second point too is is kind

00:08:13.040 of the broader issue with defense spending and arbitrary targets right like why is it only in

00:08:18.240 government where the government measures success by how much something costs rather than the outcome

00:08:24.560 it achieves right so like look i think the main takeaway is this after a decade of completely reckless

00:08:31.920 spending finding savings in every area of the budget should be like finding water in the ocean we should

00:08:37.920 not let carny off the hook if he spends a dollar more than trudeau that should be a bad budget

00:08:42.800 he should get the same grade as the last guy which is a big fat f yeah well we're looking at a deficit

00:08:48.640 coming up between 70 and 100 billion i mean this you know that'd be double what it was originally

00:08:55.520 estimated at so there's going to be a massive uh addition to the federal deficit which means we're

00:09:01.760 all going to be paying more to service the interest on that debt so you could add that on the line

00:09:06.800 on the line as a line on the budget is increased cost to taxpayers just in terms of servicing the

00:09:13.040 massive debt is that right that's exactly right right so we're looking at interest charges probably

00:09:19.120 north of 55 billion dollars this year well let's put that into perspective right that means interest

00:09:24.560 charges are costing taxpayers more than a billion dollars every single week well what's a billion

00:09:29.440 dollars that is a brand new hospital every week that is not getting built because that money is going to

00:09:35.280 the bond fund managers on bay street to pay interest on carny's debt but let's also put it into two

00:09:41.120 other ways here okay because this year the federal government will waste more money paying interest on

00:09:46.640 the debt than what it sends to the provinces in health care transfers right like that is awful things

00:09:52.560 or or think about this the next time that you're waiting in line at the checkout okay every single dollar

00:09:58.720 that you paid in federal sales tax last year went to pay interest on the debt like enough

00:10:04.400 is enough right the government is broke the government can't keep borrowing more money forever

00:10:09.840 and canadian taxpayers shouldn't be expected to fork over more than a billion a week for interest payments

00:10:16.240 meantime we've got a bloated civil service i believe jerry the trudeau era it grew by something

00:10:22.000 about 40 percent you know so we've got all these bodies over there in ottawa services are not really

00:10:28.400 improving at least by my way of looking at it franco we've got to do something about that i mean you

00:10:34.640 have any indication that the government is look serious going to look seriously at the numbers of

00:10:39.680 people and maybe lay off a few of those civil servants especially when you consider we're also

00:10:43.920 spending 25 billion or so on consultants i mean any of this makes sense no it doesn't make any sense

00:10:50.560 right only in ottawa where they do not live inside reality because they are wasting your money does this

00:10:56.160 maybe make sense but not to the real world not to individual people and you're right the bureaucracy

00:11:01.440 is out of control okay the federal government added 99 000 extra paper pushers and ballooned the cost of

00:11:09.040 the bureaucracy 77 percent since 2016. okay all these other paper pushers taking bigger paychecks from

00:11:16.800 taxpayers and get this mark most canadians agree with you because we commissioned a leger poll and that

00:11:22.480 poll found that half of canadians say federal services have gotten worse since 2016 right despite

00:11:29.920 the massive bureaucrat hiring spree half of canadians say federal services have gotten worse now look

00:11:35.200 let's just be blunt let's just tell it like it is the only way for the federal government to fix this

00:11:41.680 budget mess is to fire bureaucrats there's no other way around it attrition not going to cut it just going

00:11:49.520 on the margins on some pay and perks not going to cut it the only way that the government gets a handle

00:11:55.760 on this debt mess is to fire bureaucrats we also have the issue of dealing with the tariff problem

00:12:03.200 okay so revenues are going to take a hit we're in recession already i mean there's some consensus

00:12:10.080 growing consensus that the economy is in a state of recession shrinking contracting as it were so there's

00:12:16.960 going to be a massive push by the government to spend in areas where they think they can boost the

00:12:22.640 economy um what do you think about that i mean does do they have the green light here to move forward

00:12:29.120 with massive spending commitments to try and prop up the canadian economy we don't need the government

00:12:36.640 to spend more money right the government is not the solution the government is the problem right you want

00:12:42.400 to talk about economic growth what's the what's the elephant in the room what's the big barrier to

00:12:46.880 economic growth in canada it's the government and look let's get into the heart of the matter because

00:12:52.320 essentially the argument that carney's trying to make is the same argument that trudeau made

00:12:56.560 right that we need more government borrowing to help the economy well folks we just had 10 years of that

00:13:02.720 the experiment was tried and it failed okay government is the problem you want to grow the economy

00:13:09.600 well then we got to go on a massive tax cutting campaign right canada's tax system is uncompetitive

00:13:15.200 the government is taking way too much money from canadians and canadian entrepreneurs and investors

00:13:20.320 who would like to put their money in canada or how about this get rid of the no more pipelines law

00:13:25.040 the discriminatory tanker ban on the west coast uh the industrial carbon tax the hidden carbon tax

00:13:30.560 through fuel regulations the cap on oil and gas production folks the government is not the solution

00:13:36.320 the government is the problem but they don't see it that way they think that they have the pretext

00:13:43.280 here uh and blaming trump and the tariff situation uh say well we have to spend you know this is a time

00:13:50.160 of crisis for our economy i mean we have to do this in order to keep canada's economy rolling somewhat uh

00:14:00.240 but you're convinced that that's not the way to go of course i'm convinced we just lived through 10 years

00:14:05.680 of this right and what like the economy has stagnated the cost of living has gone through

00:14:11.360 the roof look you know why those politicians don't want to admit it because they don't want to admit

00:14:15.840 that they are the problem and that they need to get out of the way like that's why they don't want

00:14:20.080 to admit it right they want to sit here in ottawa collect their six-figure paychecks hire more

00:14:24.240 bureaucrats they don't want to go toe-to-toe with the government union bosses but look eventually the

00:14:28.320 rubber's going to meet the road here right uh like there is no getting out of the way the the there is

00:14:33.680 no um not acknowledging the real problem and the real problem is that canada's economy is over

00:14:39.840 regulated by bad regulations many of the ones that are already named and also the fact that we have

00:14:45.440 this massive government burden being placed on the productive sector in in canada right essentially

00:14:52.080 we've got the tale of two canadas where we've seen for many many years financial pain to those in

00:14:57.280 the private sector those working outside of business while those shielded by the golden

00:15:01.600 gates of government have been seeing what nothing but financial gain but they also promised us a tax

00:15:07.760 cut right remember that middle class tax cut that they promised and so that's going to undercut their

00:15:14.480 revenues i mean would you say that maybe they should nix the tax cut in order to try and getting a

00:15:23.600 little you know get the the budget uh a little close to being uh balanced no because i'm not

00:15:30.000 gonna let these politicians get off the hook right it's not taxpayers fault that the federal government

00:15:35.200 is a trillion dollars in debt it's their fault like they've been spending money like crazy no they should

00:15:39.520 give our money back to us with further tax cuts but guess what that means they have to do the right

00:15:45.200 thing for once and actually cut spending right actually fire bureaucrats like they should be cutting taxes

00:15:51.440 further right we we're in a position here where you look at all the different taxes that you pay

00:15:56.960 federally provincial municipally almost half of the average family's budget is going to taxes taxes

00:16:04.320 cost the average family more than what housing clothing and food combined so yes we need tax cuts

00:16:10.640 but we also need the government to do the right thing the hard work and that's to cut the blow to

00:16:14.960 bureaucracy in ottawa and they're trying to convince businesses in canada to expand their operations in

00:16:22.480 this country even as regulatory the regulatory burden remains high in canada taxes still remain high energy

00:16:29.920 costs are costs are still too high and so that's a pretty tall order i mean you're looking to double

00:16:35.680 your exports over the next 10 years to countries not named the united states of america but the investment

00:16:43.520 in canada is on the decline like a radical decline i mean how do you convince corporations companies of

00:16:51.920 all types to continue investing in canada while the tariff war continues and of course many u.s states

00:17:00.720 offer a much lower rate of taxation lower energy costs it's awfully tempting for some of these companies

00:17:06.560 in canada to look south and say you know what i'm out of here what do you think well i think you nailed it

00:17:12.160 right at the end when you said tax burden is lower elsewhere right like this is kind of goes back to

00:17:17.760 the entire conversation that we're having here and even broader than that look you have carny focusing

00:17:23.360 on all these international trips but the key thing that he should be focusing on is right here at home

00:17:29.040 cutting the tax burden cutting the regulation balancing the budget right actually uh bringing debt

00:17:35.440 down and you'll talk to the business community and they'll let you know that when you see governments

00:17:39.680 with these massive deficits well that creates even more business uncertainty right because deficits

00:17:45.200 debt today means taxes tomorrow so businesses are looking at these massive deficits and they're saying

00:17:50.640 well if we set up shop here and we have a long-term investment that won't come to fruition

00:17:55.680 till 5 10 maybe 15 years down the road well they're worried that the massive deficits today

00:18:01.280 are gonna are gonna mean massive tax increases tomorrow when that investment comes to fruition so

00:18:06.640 like what can the government do cut taxes cut spending actually balance the budget like none of this is

00:18:12.400 new right everyone has known about this uh for what all of modern history but we just have to see

00:18:18.720 politicians in ottawa uh come back down to planet earth here unfortunately they may look at the more

00:18:24.320 government subsidies you know just like they did with handing uh you know stellantis but 15 billion

00:18:30.240 you know and all these other companies for evs that has all turned into a big fat disaster

00:18:36.000 so unfortunately rather than rather than trying to create an environment in canada of lower taxation

00:18:41.520 low regulatory burdens they would rather just say no let's let's pick winners and losers here

00:18:46.720 throw billions of dollars in corporate welfare at some of these corporations and and then hope for

00:18:51.760 the best it's not working last word to you well look when politicians are spending your money not their

00:18:57.440 own you might as well just sell send them to the casino right like it's it's a bad bet and look

00:19:02.720 like the corporate welfare is costing uh what 11 billion dollars a year federally alone all corporate

00:19:08.080 welfare look that means that the government is taking about 1100 bucks from each canadian family of four

00:19:13.520 uh to hand out in corporate welfare again cut the spending cut taxes in red tape that is the recipe for

00:19:21.120 success franco terrizano canadian taxpayers federation have fun tomorrow i will hey thanks mark thank you

00:19:29.760 franco and that is it for this edition of straight up appreciate you tuning in my friends let's do it

00:19:34.960 again real soon shall we see you next time

Juno News - November 03, 2025

Carney STRIKES OUT in Asia & APOLOGIZES to Trump

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