The Candice Malcolm Show - Mark Carney is outspending Trudeau — and banning your car

00:00:00.000 Hi, I'm Candice Malcolm, and this is the Candice Malcolm Show. Happy Monday, everybody. Hope you had a wonderful weekend. So I am not going to be hosting the show today. I am busy and I am away. So I'm going to hand it over to a familiar face to the audience, Chris Sims from the Canadian Taxpayers Federation. She's fantastic. She has got a great episode in store for you today, folks. So without further ado, over to you, Chris Sims.

00:00:22.820 Hey, thanks so much for joining us. I am Chris Sims. I'm the Alberta Director for the Canadian Taxpayers Federation. Thanks for joining us today and spending some of your time with us here on Juno. Now, some of the imagery coming out of Alberta right now is kind of sun filled, right? We have all of these world leaders gathering with our beautiful province as their backdrop.

00:00:49.120 It just makes me think of a bunch of rich men from north of Richmond gathering together and making promises that we have to pay for, that taxpayers and normal working people have to pay for.

00:01:01.480 Now, let's hold out hope that people like Alberta Premier Daniel Smith can have a great meeting with U.S. President Donald Trump and work out things like getting rid of all of the tariffs, okay?

00:01:13.200 Actually working out perhaps a new trade deal so we don't need to roll over and check X every morning to see, you know, if our economy is still here in Canada.

00:01:20.860 So let's hope for those sort of things to be straightened out. My hope is that U.S. President Donald Trump and Prime Minister Mark Carney actually talk about things like Carney's continued plan to ban the sale of normal gasoline and diesel-powered vehicles.

00:01:38.380 Like, it's one of the craziest ideas ever. And it's going to start kicking in six months. So in six months' time, in 2026, it's going to start kicking in so that dealers must have 20% of their new car sales to be battery-powered cars.

00:01:56.580 And if they can't sell them, tough cookies. They just have to sit there on the lot and pile up as inventory.

00:02:02.420 And if, guess what, you want to go purchase a normal gasoline and diesel-powered new vehicle, it's going to be tough cookies for you soon too in Canada. Why? Because the government says so.

00:02:12.940 Now, the reason why I'm hoping that Trump and Carney have a conversation about this, among many other things, is that Trump, it's one of the first things he did when he was elected.

00:02:20.920 He got rid of their so-called EV mandate in the United States. And when it comes to actual market force, we know who the big gorilla is here.

00:02:28.740 That's the United States. So hopefully that changes. But something else that really needs to change is the affordability.

00:02:35.640 I can't help but think, while I'm watching all of these fancy world leaders and politicians, these elites from all over the planet, sitting there dining, what the tab is going to be.

00:02:45.640 Right? I can't help but think about people who can't afford those fancy dinners.

00:02:51.960 And I gotta say, I was doing the grocery shopping for my family recently, and I was just thunderstruck, again, by the increased costs of things.

00:03:01.180 I've got a picture here that I snapped when I was in Walmart.

00:03:05.400 And this is just a normal-sized can of regular coffee.

00:03:09.080 Okay? It wasn't one of those big honking ones that you'd get, you know, for the camper or something from Costco.

00:03:13.480 No, it's just a normal-sized, you know, can of coffee.

00:03:16.940 And it's $21.

00:03:20.040 $21.

00:03:21.060 I used to be able to get that regular price, around $9 or $10.

00:03:26.220 On sale, I used to get it for like $7.

00:03:29.820 That was a good sale.

00:03:31.240 $21 now.

00:03:32.880 It's enough to choke a horse.

00:03:34.700 I was in the mall the other day, just kind of window shopping, right?

00:03:38.660 And I noticed just a regular kid's hoodie.

00:03:40.960 I'm not talking about like a big sports hoodie or anything like that.

00:03:44.300 Just a regular hoodie, plain front, with $68 or $67.

00:03:50.440 With tax, it would be about $70.

00:03:52.980 For a little kid's hoodie.

00:03:54.840 Like, I can't understand how people can afford things right now.

00:03:58.200 And the answer is they can't.

00:03:59.600 Because, of course, 50%, half of Canadians, now say they're within $200 every single month of not being able to pay the minimum amount on their bills.

00:04:11.480 What that means in normal people talk is they're within $200 of insolvency every month.

00:04:17.180 Those are working people.

00:04:18.560 Those are people who have been holding down jobs their entire lives.

00:04:21.420 That's why you're seeing record demand at food banks.

00:04:25.220 And that hasn't changed.

00:04:27.220 That hasn't changed just because the Prime Minister isn't talking about his socks.

00:04:32.140 That hasn't changed just because we now have a guy with a PhD from Oxford in economics at the helm.

00:04:39.560 But I hope it does.

00:04:40.520 I really do hope that Prime Minister Mark Carney does the smart things.

00:04:46.200 That he stops wasting money.

00:04:47.680 That he balances the budget.

00:04:49.080 That he gets rid of all of his plans for all of his hidden industrial carbon taxes.

00:04:53.120 And that he stops printing money.

00:04:55.080 Because right now, we have still got an inflation crisis.

00:05:00.320 And I'm going to talk to an expert in a second to explain why inflation is still a bad thing.

00:05:07.500 The next time you hear some pointy head, okay?

00:05:10.520 On the media, say, oh, inflation is going down or is slowing down.

00:05:14.680 That doesn't mean prices are going down.

00:05:17.340 That means that we have careened to this huge high in inflation suddenly, okay, over the last few years.

00:05:24.260 And now it's still increasing.

00:05:25.940 It's just increasing slower.

00:05:27.240 So that's why you're not seeing prices drop at the stores.

00:05:32.280 So what is causing this huge cost increase for normal working people in Canada?

00:05:39.340 Let's find out.

00:05:40.200 Joining me now is Franco Terrazzano, my good friend and the federal director of the Canadian Taxpayers Federation.

00:05:47.040 Franco, lots of rich men from north of Richmond are busy meeting at the G7 right now.

00:05:53.860 That's all well and good.

00:05:55.340 I know it's going to cost taxpayers a lot of money.

00:05:57.340 Whenever I see that footage, I'm just like wincing because the bill is going to be high.

00:06:00.680 But I want to talk about how this affects normal people.

00:06:05.100 So we're seeing Prime Minister Mark Carney actually gripping and grinning with U.S. President Donald Trump.

00:06:10.420 They're in the same room.

00:06:11.260 They're in the same pictures.

00:06:12.080 A lot has been made about Trump's tariffs on things like steel and aluminum.

00:06:18.020 But the question here in Canada is why are we punching ourselves in the face with things like this looming industrial carbon tax?

00:06:26.360 Can you explain what this industrial carbon tax is and what the problem is with it?

00:06:32.660 Yeah, for sure.

00:06:34.420 And look, I know a lot of people who are watching this show, like they know that Carney is not scrapping all carbon taxes, right?

00:06:41.040 They know that Carney just wants to change the carbon tax, right?

00:06:44.020 So he set the consumer carbon tax rate to zero.

00:06:47.340 That's the one that you pay when you fuel up at the gas station or on your heating bill.

00:06:51.660 But what Carney is doing is he's shifting, relabeling, repackaging the carbon tax into what is known as a hidden industrial carbon tax, okay?

00:07:01.360 So that's a tax on like oil and gas producers, fertilizer plants, steel companies, and many others.

00:07:09.100 But of course, it's not just those businesses that pay the tax.

00:07:12.320 It's really Canadians, both consumers and workers, who pay that tax, right?

00:07:17.400 So you have a lot of the media, you have a lot of the political class all up in arms over Trump's tariffs.

00:07:23.040 And okay, fair enough, but we got to control what we can control.

00:07:26.880 And what the Canadian government can control is not what Trump is doing.

00:07:31.000 It's how the Canadian government is taxing Canadians.

00:07:34.480 And by imposing a hidden carbon tax on Canadian businesses like oil and gas, like fertilizer plants, like steel manufacturers,

00:07:42.820 yes, that is going to make prices go up here in Canada.

00:07:45.880 But that is going to push Canadian entrepreneurs to cut production here and then to set up shops south of the border.

00:07:53.040 Because, oh, by the way, the White House doesn't impose carbon taxes like Ottawa is doing.

00:07:59.600 You don't need to take Franco's word for it here.

00:08:02.560 Remember just a second ago during the federal election when a labor union endorsed the conservatives?

00:08:10.100 Like I said, I felt like I was having an out-of-body experience.

00:08:13.780 I've been in the game a long time and I've never seen a labor union endorse the conservatives.

00:08:19.320 And that wasn't the issue.

00:08:20.840 The issue was why they were doing it.

00:08:23.140 And it was the steel workers around Hamilton area who were saying that the industrial carbon tax was going to, quote, decimate their industry.

00:08:32.240 And for exactly the reason you just said, on increasing the costs and making them pick up and move south.

00:08:38.980 Yeah, I mean, look, the United States doesn't have a national carbon tax, right?

00:08:42.640 The White House doesn't impose a national carbon tax.

00:08:45.500 And it doesn't matter who is in the White House, right?

00:08:47.960 The Democrats didn't do it.

00:08:49.260 The Republicans aren't doing it.

00:08:50.840 So you have that extra cost that makes Canada less competitive because we are hammering our entrepreneurs with carbon taxes while the United States government isn't.

00:09:01.180 Not to mention that if you look around the world, it's like 70% of countries that do not impose national carbon taxes.

00:09:09.140 And then you layer that all on top of the fact that Canada is not competitive on income taxes or business taxes.

00:09:15.500 And this is just another smack in the face from the Canadian government on to many of our Canadian businesses and therefore also our workers and our consumers, right?

00:09:25.740 That trade organization that you mentioned there, they know that when you make Canadian businesses less competitive, well, that means fewer jobs as our tax system is pushing our businesses to leave Canada.

00:09:38.040 And in some cases, just increase production south of the border.

00:09:42.060 Big time.

00:09:42.560 And then lastly, we haven't even touched on carbon tax tariffs.

00:09:47.500 Like, Carney mentioned this out loud with his face during the election campaign.

00:09:53.160 And in a nutshell, what that means is Carney looks around the world and if he sees a country that doesn't have a carbon tax, that upsets him.

00:10:01.780 And that upsets him so much that when we take something in from that country, when we import a widget from a country that doesn't have a national carbon tax, he's going to slap a tariff on that import for us to pay here in Canada.

00:10:16.660 So this is not over.

00:10:18.680 It's yes, it is good that we have about 20 cents off the cost of gasoline that I can see here in Lethbridge, for example, at the pump.

00:10:25.060 That's real savings and it's important.

00:10:27.440 But folks, stay tuned on this because Carney is busy cooking up a big new industrial carbon tax and carbon tax import tariffs on stuff.

00:10:36.980 So this part isn't over.

00:10:38.280 Lastly on this, I might just be blue-pilling here, hoping for the perfect day, but do you think there's a chance that Carney just wrote all that stuff in his book, Values, about things like carbon tax tariffs, industrial carbon taxes, personal carbon emissions budgets, all carbon, carbon, carbon, carbon, carbon, tax, tax, tax, tax.

00:11:00.500 Is there a chance, do you think, Franco, that he wrote that because he was the UN envoy on this topic and there's a chance that that PhD in economics will win out the day and he'll actually be the Paul Martin type and start balancing the budget?

00:11:17.600 Yeah, I don't know, man.

00:11:18.780 I think that might be above my pay grade.

00:11:20.900 Look, I honestly don't know.

00:11:22.680 I mean, look, I wrote a book.

00:11:23.900 It's called Axing the Tax, the Rise and Fall of Canada's Carbon Tax.

00:11:26.800 You can get it now.

00:11:28.080 There it is.

00:11:28.860 But look, I wrote it because I believe what I was saying, that the carbon tax always was and always will be a scam for the ordinary Canadians who are forced to foot the bill.

00:11:38.320 So I can only imagine that when Carney wrote those words in his book, Values, he meant what he was saying.

00:11:45.720 And look, all I can really say for sure is what the government has done so far, what Mr. Carney has said so far, right?

00:11:52.960 And on carbon taxes, well, he's been very clear that he supports carbon taxes, right?

00:11:56.880 He just wanted to change, his words, the carbon tax from the consumer, the one that you see, to the hidden industrial carbon tax that will mean fewer jobs for Canadians, but also higher prices, right?

00:12:09.140 Because when you tax a fertilizer plant, well, that makes the cost of growing food and the cost of buying food more expensive.

00:12:15.960 When you carbon tax refineries, well, that makes your gasoline and diesel more expensive.

00:12:20.340 And when you carbon tax utilities, that makes your home heating bill more expensive, right?

00:12:25.380 So look, you know, look at Carney's own words.

00:12:28.500 He wants to impose hidden carbon taxes.

00:12:31.060 Now let's look at the debt, the spending, right?

00:12:33.560 The deficits.

00:12:34.700 Well, if you look at his election platform, Carney wants to add $225 billion to the debt over the next four years.

00:12:43.200 That's on top of the fact that Trudeau doubled the debt in less than a decade.

00:12:50.760 In fact, you look at Trudeau's last budget numbers, and he would add about $131 billion to the debt over that same time.

00:12:58.780 So, you know, do a little math, beep, boop, beep, boop.

00:13:01.740 And Carney plans on adding almost $100 billion more to the debt over the next four years.

00:13:08.380 So, Chris, you asked me, what do I think is in Carney's head?

00:13:11.460 Well, I don't know, right?

00:13:13.060 That's way above my pay grade to try to figure out.

00:13:15.480 But what I do know is what he said and what the government is doing.

00:13:19.180 And look, he's putting in a hidden carbon tax.

00:13:21.800 His election platform wanted to rack up even more debt.

00:13:26.100 Brutal. Brutal.

00:13:27.120 I actually still can't believe that.

00:13:28.680 I remember distinctly during the election campaign when it came out that he was going to add more to the debt than Trudeau was going to.

00:13:35.560 I seriously thought I was misreading it.

00:13:38.700 I'm like, no, no, no, this must be a me thing.

00:13:40.140 This can't be possible.

00:13:41.460 The economist can't be worse with money than the drama teacher.

00:13:45.540 But apparently, survey says, he's going to be.

00:13:48.300 I wanted to shift slightly here because before things really got ramped up, I would even say just leading up to the lockdowns, I would say.

00:13:58.440 Inflation.

00:13:59.660 People were talking a lot about inflation, especially during the lockdowns.

00:14:03.340 Not that many people, I will point out.

00:14:05.760 You were talking about it.

00:14:07.080 You were warning about inflation.

00:14:09.300 Conservative leader Pierre Polyev, to his credit, was on national media warning about inflation.

00:14:15.220 And is it ever here?

00:14:16.240 Like I mentioned during the opening, I was doing grocery shopping for my family recently.

00:14:21.020 A regular can of like Folgers coffee.

00:14:25.480 Okay, just a normal size can now, is $21.

00:14:29.940 That used to be $9.

00:14:32.160 A normal hoodie, like not licensed, not a sports hoodie, a normal kid's hoodie from the mall is $68.

00:14:39.180 Like, the costs are just astronomical.

00:14:42.940 They're through the roof.

00:14:43.800 Like, beef is unaffordable for people now.

00:14:46.200 Like, people keep saying, oh, inflation is slowing down.

00:14:50.140 I really wanted to do a quick deep dive with you on this because you explain it so well.

00:14:55.640 Why are we in the middle of an inflation crisis right now in Canada?

00:14:59.840 What happened, especially during the lockdowns?

00:15:03.060 What did the government do to cause this?

00:15:05.300 Well, look, first of all, let's just cut through the spin.

00:15:07.780 When you hear anyone twisting themselves into a pretzel saying that inflation is down,

00:15:12.460 what that really means is this.

00:15:14.660 Prices rose by a 40-year high, okay?

00:15:18.900 And then since then, prices aren't going down.

00:15:22.420 They're still going up.

00:15:23.900 They're just not going up as high as they did when they reached a 40-year high, right?

00:15:28.900 So all that is to say is that life is still crazy unaffordable, right?

00:15:33.660 And everyone who is outside of the political bubble, who goes to the grocery store,

00:15:38.220 who, like you, Chris, go to get your son a hoodie, they know how expensive life is.

00:15:43.500 So then the question is, well, why did inflation go crazy in Canada and around the world?

00:15:48.460 Well, guess what?

00:15:49.460 You implement silly policies, you get silly prizes, okay?

00:15:53.520 Now, that's a nice way of saying what I'm thinking.

00:15:55.820 But here's what happens, okay?

00:15:57.580 Look, what explains a general increase in prices, so prices going up across the board, is one thing.

00:16:05.020 It's the expansion of the money supply.

00:16:07.660 It is the printing press going burr, right?

00:16:10.560 It is a government's central bank printing new dollars out of thin air.

00:16:14.680 In the case of Canada, you had the perfect storm for inflation.

00:16:18.740 On the one hand, you had the government's central bank, the Bank of Canada,

00:16:22.500 print up, during the heart of the pandemic, anywhere from about $300 to $400 billion.

00:16:28.520 And it did that with a stroke of a keypad, buying financial assets, largely government of Canada debt.

00:16:35.880 Okay?

00:16:36.360 That is the inflation tax.

00:16:38.540 When the central bank, the Bank of Canada, finances Ottawa's deficits by printing up new dollars.

00:16:45.980 Okay?

00:16:46.420 And the problem is this.

00:16:48.660 You can't print up farmland out of thin air.

00:16:51.200 You can't print up refineries out of thin air.

00:16:54.460 But the government can print up new dollars out of thin air.

00:16:58.360 Okay?

00:16:59.120 More dollars chasing fewer goods.

00:17:01.540 And then here's where you get the flip side of the equation.

00:17:04.580 Right?

00:17:05.060 Where during the pandemic, when we were going through, what, three years of revolving lockdowns,

00:17:09.620 businesses, the economy, wasn't producing as much as it normally would.

00:17:13.540 So we weren't producing as much of the stuff that money buys.

00:17:17.460 So when you had the printing press on overdrive, and you had our economy locked down, you had

00:17:23.340 the perfect storm for inflation, which is too many dollars chasing too few goods.

00:17:29.680 Was that a choice that the government made?

00:17:32.940 Because you hear apologists all the time.

00:17:34.720 They make it sound as if a volcano went off or something.

00:17:37.460 It's like, no, dude, you made that choice.

00:17:39.700 Yeah, of course it is.

00:17:40.700 Right?

00:17:40.940 This is a decision by the government central bank, by the Bank of Canada, to finance massive

00:17:46.920 government deficits.

00:17:48.280 Right?

00:17:48.660 Inflation isn't like a natural disaster.

00:17:51.080 It's not an act of God.

00:17:52.620 Inflation is a deliberate policy that helps politicians who have out-of-control spending,

00:17:59.200 who don't want to rein in the spending, and who, quite frankly, want to try to hide the

00:18:03.220 costs.

00:18:04.040 Right?

00:18:04.260 Because the inflation tax is also a fundamentally undemocratic tax.

00:18:08.960 Right?

00:18:09.400 It's a way to finance deficits or finance massive spending without actually increasing tax rates.

00:18:16.400 Right?

00:18:16.560 Everyone knows who's at fault when politicians increase income taxes or increase sales taxes.

00:18:23.120 But it's very hard to find the culprit if you're just an ordinary person when the government

00:18:28.320 is rising inflation stealthily through the Bank of Canada or through any other central bank.

00:18:35.380 This is a loaded question, and I don't actually know your answer to it, which is rare.

00:18:40.240 I get a treat whenever I pick up Franco from the Calgary airport.

00:18:43.800 I get an economics lesson.

00:18:44.920 Like, it's awesome.

00:18:45.520 Um, so, is there a way out of this?

00:18:48.860 Like, I hear, like, sorry for the layman's terms, but I hear pointy heads on TV say,

00:18:55.380 oh, we can't have deflation.

00:18:56.920 That would be a bad thing.

00:18:58.040 And in my brain, I'm like, wouldn't that make prices go down?

00:19:01.200 Isn't that a good thing?

00:19:02.780 How do we get out of this?

00:19:04.240 Is there any chance that we're going to see a normal price, what we would call normal,

00:19:09.260 for kids' clothes and groceries and all of the stuff that we have to spend money on?

00:19:14.860 Is there a way out of this to make prices go down?

00:19:17.860 Well, look, first of all, prices going down is not a bad thing, right?

00:19:21.300 I mean, it makes your life more affordable as a consumer.

00:19:23.860 But then also businesses, when you look at profits, what they really are is a margin.

00:19:27.540 So, if businesses' input costs are going down, that doesn't mean that they now can't succeed

00:19:32.640 because prices are going down, because what they're paying to produce those goods is also lower, right?

00:19:38.160 And, like, also, too, if you shrink the money supply, the only thing that is really happening

00:19:43.280 is that you're shrinking it after the government artificially increased it, okay?

00:19:48.180 Remember that, folks.

00:19:49.500 So, to your question, like, what can the government do?

00:19:51.680 Well, there's a few things.

00:19:53.400 Number one, stop printing money, right?

00:19:56.340 Like, that's number one, because when you print more dollars out of thin air,

00:19:59.500 too many dollars chasing too few goods means you have the inflation tax.

00:20:04.080 So, get the federal spending under control.

00:20:06.760 Stop accumulating the massive borrowing, the tens of billions of dollars of deficits every single year.

00:20:12.640 But then the flip side of the equation is, like, look, we got to get our economy firing on all cylinders.

00:20:17.380 We got to be able to produce the stuff that all that extra money buys, right?

00:20:22.900 So, you know, you have to get your fiscal house in order when it comes to the government of Canada,

00:20:26.820 and you have to be able to create the conditions to allow job creators to come here,

00:20:32.260 to get our natural resource projects built, and to actually build the stuff,

00:20:36.240 grow the economy, to essentially sop up all that extra money.

00:20:40.160 I'm picturing it almost like we need fresh mop heads. 0.88

00:20:43.280 Like, all of the water has cascaded around the kitchen.

00:20:45.960 It's everywhere. It's a flood.

00:20:48.040 We need fresh mop heads and towels soaking up all of that extra cash,

00:20:52.340 and those are widgets.

00:20:53.720 Those are actual things that we can use.

00:20:56.140 Is there a way—this is probably a stupid question—

00:20:58.700 is there a way for the government to reduce the money supply,

00:21:02.140 or is there just do we need more stuff to spend money on for the money to go?

00:21:08.500 Or is there a way for them to reabsorb it?

00:21:11.040 Look, I think here's the two most likely things, right?

00:21:15.140 So number one is, like, if you're digging, if you're in a hole and you're trying to get out,

00:21:19.300 the first rule is just to stop digging, right?

00:21:21.540 So if you're doing something dumb, the first thing to do is stop doing that dumb thing.

00:21:25.660 And when it comes to the federal government, there's a lot of dumb things going on.

00:21:28.800 But, like, let me just say two things that the government can do, right?

00:21:33.400 First of all, just stop running up the debt, right?

00:21:37.120 Interest charges on the debt are already costing us more than a billion dollars every single week, right?

00:21:41.880 That's a brand-new hospital that's not getting built every week

00:21:45.220 because the feds are paying interest charges on the debt.

00:21:48.240 So number one, you've got to get the out-of-control borrowing,

00:21:50.680 the out-of-control spending, right?

00:21:52.540 You've got to get that under control

00:21:54.420 so that we're not seeing any of the printing press used to finance Ottawa's deficits.

00:21:59.300 But number two, like, stop throwing up roadblocks to development, right?

00:22:04.020 We don't need government in the business of business.

00:22:06.380 We need government to get out of the way, right?

00:22:09.080 You know, the no more pipelines law, the discriminatory tanker ban,

00:22:12.620 the fact that the government moved the goalposts,

00:22:15.380 the regulatory goalposts on the Energy East pipeline, right?

00:22:19.480 Rejecting Northern Gateway.

00:22:20.600 It goes on and on and on.

00:22:22.920 So in addition to just getting your spending under control,

00:22:25.700 the government has to just stop throwing up roadblocks,

00:22:28.180 unnecessary red tape that has made it almost impossible

00:22:31.520 for Canada to get large, major projects done and built here.

00:22:36.320 That's a big one.

00:22:37.420 And the energy cap.

00:22:38.480 We've got an energy cap.

00:22:39.780 There you go.

00:22:40.780 It's a $20 billion hole, and that isn't our numbers.

00:22:43.260 That's the parliamentary budget officer that is saying

00:22:45.520 that Ottawa's cap on Alberta's energy,

00:22:48.560 they call it an emissions cap, but it's really a production cap,

00:22:51.340 is going to blow a $20 billion hole in the Canadian economy

00:22:54.740 over the next few years and cost something like 40,000 jobs or something.

00:22:59.240 It was crazy.

00:23:00.420 So these are just, you'd think, seemingly simple things

00:23:03.760 that the feds can do to take their foot off of our necks. 1.00

00:23:07.780 Do you see this happening?

00:23:09.340 Do you think that if we yell loud enough and long enough,

00:23:12.300 I mean, we got the consumer carbon tax reduced down to zero,

00:23:15.820 you know, there's a chance that if we get people up

00:23:18.080 on how much they're spending on the debt,

00:23:19.780 a billion dollars a week, folks, a billion dollars,

00:23:23.640 picture a hospital, poof, gone, every single week.

00:23:26.980 That's how much we're spending just on interest.

00:23:29.520 Do you think there's a chance we can get people riled up enough

00:23:32.080 that we can make Carney move on this?

00:23:34.740 Well, yeah, like, I'm glad you brought up the example

00:23:37.380 of this consumer carbon tax, because to me,

00:23:39.960 that's actually an example of, you know, David beating Goliath,

00:23:43.080 where, you know, Goliath, you had all of the taxpayer-funded

00:23:47.440 political elites, the bureaucracy, those politicians, right?

00:23:51.340 You had the academics, you had many in the media

00:23:53.500 who essentially were telling Canadians to sit down,

00:23:56.120 be quiet, and pay your carbon tax bills, right?

00:23:58.680 Look, I even remember there was an opinion piece

00:24:00.540 that was published, I believe, in the Globe and Mail,

00:24:03.080 and it said something to the effect after the last 2021 election,

00:24:06.500 where it was like carbon tax,

00:24:07.660 the fight against the carbon tax is over,

00:24:09.380 carbon taxes are here to stay.

00:24:11.280 Well, in a few short years, from massive pushback

00:24:14.460 from Canadians, from a lot of premiers out there,

00:24:18.060 Brad Wall, he did a great job fighting the carbon tax

00:24:20.820 since day one, obviously, Mr. Polyev,

00:24:23.560 like, he was fighting the carbon tax harder

00:24:25.980 than I've ever seen any federal politician,

00:24:28.340 but because of the massive backlash,

00:24:30.240 beginning with ordinary Canadians,

00:24:32.320 you forced the Liberal government

00:24:33.880 to back down on their own favorite tax, right?

00:24:36.560 The consumer carbon tax, right?

00:24:38.180 Up until about, what, six minutes ago,

00:24:40.900 they were saying how good the carbon tax was for you,

00:24:44.300 and Canadians, a couple of those good politicians,

00:24:46.840 they forced the Liberal government

00:24:48.520 to back down on their own consumer carbon tax.

00:24:50.660 Now, look, I know the fight against the carbon tax is not over,

00:24:53.620 but it's just a good example

00:24:54.880 that even if things look really bleak today,

00:24:57.920 the political landscape can shift so quickly

00:25:01.480 that if you keep applying the pressure,

00:25:03.740 you can push the government to actually move

00:25:05.920 in the right direction.

00:25:08.000 So, yeah, folks, I mean, look,

00:25:09.160 politics is a participation sport,

00:25:11.880 and even if you don't care about politics,

00:25:13.860 those politicians care about your wallet, 0.63

00:25:16.080 so you have to get involved,

00:25:18.220 you have to get off the bench.

00:25:20.000 Franco, thank you so much for your time.

00:25:21.680 That is why we have a debt clock,

00:25:23.320 and we drive it around the country

00:25:24.680 to show people how much this debt is costing them.

00:25:27.860 Thank you so much for your time.

00:25:29.620 Hey, always a pleasure.

00:25:30.840 Once again, that was Franco Teresano,

00:25:32.400 the Federal Director

00:25:33.200 for the Canadian Taxpayers Federation,

00:25:35.240 highlighting the fact that we are in deep trouble.

00:25:37.660 We have a huge debt in this country.

00:25:40.840 It is now more than a trillion dollars.

00:25:43.580 The Trudeau government alone

00:25:45.380 doubled the national debt.

00:25:48.160 That's kind of incomprehensible,

00:25:50.220 but kind of do a little mental exercise

00:25:52.640 and picture it.

00:25:53.700 Think back all the way down our national railway,

00:25:56.400 all the way back to Sir John A. Macdonald,

00:25:58.220 that Prime Minister's government.

00:26:00.040 Now roll yourself forward, okay?

00:26:02.080 Mackenzie King and Diefenbaker and Mulroney

00:26:06.160 and the first Trudeau.

00:26:08.060 Okay, picture all of those governments

00:26:10.000 that were there during World Wars,

00:26:12.520 that were there during the Great Depression.

00:26:14.760 Picture all of those debts.

00:26:17.380 Double them.

00:26:19.420 That's what Trudeau did.

00:26:21.040 That's what Trudeau did in nine years.

00:26:23.440 I never thought as a Western Canadian kid

00:26:26.600 that was raised in the 80s

00:26:27.860 that I would see a worse government

00:26:30.000 than the first Trudeau government,

00:26:32.300 but here we are.

00:26:34.320 So we have got a doubled national debt.

00:26:37.700 The interest payments on the debt

00:26:39.660 are costing taxpayers,

00:26:42.000 you, right now, today,

00:26:44.180 a billion dollars a week.

00:26:46.800 And the problem here

00:26:48.320 is that while, yes,

00:26:50.220 we're seeing more of a mature comportment,

00:26:53.440 coming from Prime Minister Mark Carney,

00:26:55.820 he's not sillily saying things like

00:26:58.260 the budget will balance itself.

00:26:59.980 He's not pointing out his socks

00:27:01.640 on a world stage to grown-up people.

00:27:04.400 So that's an improvement.

00:27:06.420 But this can't just be image-based.

00:27:08.800 This has to be real.

00:27:10.380 The problem is

00:27:11.500 we're not hearing real change

00:27:14.440 coming from Prime Minister Carney.

00:27:16.620 Case in point,

00:27:18.060 we don't have a budget.

00:27:20.020 There should be a budget right now.

00:27:22.380 And for the folks at home

00:27:23.340 who are trying to give him

00:27:24.180 the benefit of the doubt,

00:27:25.080 saying, oh, well, he's new to the job

00:27:26.620 and he just got there

00:27:27.600 and how could they possibly

00:27:28.860 get that done in time?

00:27:30.460 Yes, I understand why you think that.

00:27:32.340 But here's the thing.

00:27:33.740 There's something called

00:27:34.740 the permanent government in Ottawa,

00:27:36.460 the bureaucracy.

00:27:37.700 And yes,

00:27:38.640 all of those smart kids in class

00:27:40.220 in the finance department

00:27:41.220 and at the treasury department,

00:27:42.880 they have all these numbers.

00:27:45.180 Basically, what a budget is,

00:27:46.880 is revenue in,

00:27:48.620 spending out.

00:27:50.080 It's all it is.

00:27:50.820 It's basically two big graphs.

00:27:52.960 Okay?

00:27:53.280 That's all they really need to do.

00:27:55.120 They need to tell us

00:27:56.000 how much they're taking in

00:27:56.800 in tax revenue

00:27:57.520 and other revenues.

00:27:58.820 They need to tell us

00:27:59.880 what they're spending money on.

00:28:01.840 That's it.

00:28:03.000 Including things like

00:28:03.860 debt interest payments.

00:28:05.320 And they're not opening up

00:28:07.380 and saying,

00:28:07.940 you know what?

00:28:08.500 We've sobered up.

00:28:09.440 The party's over.

00:28:10.520 Kids have gone home.

00:28:11.740 Now we need to balance the budget.

00:28:13.600 Here's how we do it.

00:28:14.600 Let's get rid of stupid ideas

00:28:17.100 like the pipeline ban.

00:28:19.020 Let's get rid of a stupid idea

00:28:20.580 like the cap on energy.

00:28:22.640 Let's get rid of a stupid idea

00:28:24.580 like banning the sale

00:28:26.540 of normal gasoline

00:28:28.540 and diesel powered vehicles.

00:28:30.240 Because not only is that

00:28:31.700 way too big of a government

00:28:33.260 telling you what you can

00:28:34.440 and can't drive

00:28:35.200 and interfering with the market

00:28:36.960 for dealerships

00:28:37.960 and salespeople, 0.99

00:28:39.220 but it also is going to cost us

00:28:41.420 hundreds of billions of dollars

00:28:43.920 that we don't have.

00:28:45.960 So how are we going

00:28:47.660 to fix this problem?

00:28:50.040 Let's find out.

00:28:51.040 Joining me now

00:28:51.740 is a good friend of the program,

00:28:53.000 Dan McTague.

00:28:53.840 Dan is a long time

00:28:55.240 former Liberal member

00:28:56.800 of Parliament.

00:28:57.840 He knows his stuff,

00:28:59.140 especially when it comes

00:28:59.940 to things like finance

00:29:00.900 and the automotive sector,

00:29:02.440 which is why we've got him here

00:29:03.920 on the show

00:29:04.580 as the president

00:29:05.720 for Canadians

00:29:06.440 for Affordable Energy.

00:29:08.060 A little bit of inside baseball.

00:29:09.740 Whenever I needed

00:29:10.560 the second carbon tax

00:29:12.620 explained to me

00:29:13.600 in British Columbia,

00:29:14.940 I would text poor Dan

00:29:16.500 at any time at night

00:29:17.440 saying,

00:29:17.860 how on earth

00:29:18.780 do I make sense

00:29:20.260 of all these carbon credits

00:29:21.520 and all this nonsense

00:29:22.480 and make it make sense?

00:29:24.740 Dan,

00:29:25.260 thank you for joining us today.

00:29:27.300 Great to be here.

00:29:28.000 Thank you for being here.

00:29:28.540 Chris.

00:29:29.200 I wanted to get into

00:29:30.380 the fact that

00:29:31.360 this government

00:29:32.320 is very soon

00:29:34.100 going to be banning

00:29:36.040 the sale

00:29:36.780 of what I would call

00:29:38.300 normal gasoline

00:29:40.320 and diesel powered vehicles.

00:29:41.700 Now,

00:29:42.560 it's going to be

00:29:43.120 100% ban,

00:29:44.420 meaning all new vehicles

00:29:46.120 must be an electric vehicle

00:29:47.960 or battery powered vehicle

00:29:49.180 by 2035.

00:29:51.100 And for folks who say,

00:29:52.460 oh,

00:29:52.620 that's 10 years,

00:29:53.780 that's forever.

00:29:55.260 The Trudeau government

00:29:56.180 was in power

00:29:56.840 for 10 years.

00:29:57.620 That goes by like this.

00:29:59.340 So I wanted to get

00:30:00.420 into this with you

00:30:01.220 right off the top.

00:30:02.820 When are we going

00:30:03.840 to see these restrictions

00:30:05.360 start coming into force

00:30:06.960 at the vehicle sales lot?

00:30:09.300 Well,

00:30:10.700 on the vehicle lots

00:30:11.580 across the country,

00:30:12.300 you're going to have

00:30:12.820 to have one in five vehicles,

00:30:14.280 not just on the lot,

00:30:15.320 but Chris,

00:30:16.360 one in five have to be sold.

00:30:18.120 In other words,

00:30:18.600 for you to sell five vehicles,

00:30:20.600 one of the five

00:30:21.440 has to be electric vehicle

00:30:22.520 or you simply can't sell it.

00:30:24.220 You will,

00:30:24.640 you'll defy your own quota.

00:30:26.420 Now,

00:30:26.580 whether that's arranged

00:30:27.420 at the manufacturing level

00:30:29.720 or whether that's arranged

00:30:30.720 at the marketing level,

00:30:32.040 there's a lot of questions

00:30:33.860 as to how appropriate this is,

00:30:36.640 given that there isn't

00:30:37.400 the take up.

00:30:37.880 Right now we've seen

00:30:38.580 actually a decline in sales,

00:30:39.960 especially when there's

00:30:40.600 no more subsidies

00:30:41.900 or subsidies are being removed

00:30:43.280 from consumers,

00:30:44.980 both federal and provincial.

00:30:47.500 Quebec,

00:30:48.260 British Columbia,

00:30:49.340 you know,

00:30:49.600 seven,

00:30:50.180 10 to $12,000,

00:30:51.520 some money even

00:30:52.360 for some used vehicles.

00:30:54.340 Good luck with that,

00:30:54.940 by the way.

00:30:55.700 But at the end of the day,

00:30:57.280 if you're going to increase

00:30:58.620 and ratchet this up,

00:30:59.740 you know,

00:31:00.000 10% every year

00:31:01.000 with mandates of 20%

00:31:03.080 beginning next year

00:31:04.000 on January 1st,

00:31:06.020 good luck.

00:31:06.460 I think the automotive sector

00:31:07.760 is already starting to say it

00:31:08.920 and you see companies

00:31:10.280 have been known

00:31:10.820 for their grift.

00:31:11.820 General Motors,

00:31:12.600 hey,

00:31:12.820 this is not such a great idea.

00:31:13.960 We have to get rid of this.

00:31:14.760 Ford,

00:31:15.240 hey,

00:31:15.700 we're not building an EV.

00:31:17.420 We're going to take

00:31:18.020 the Oakville plant,

00:31:18.760 which I live very close to here.

00:31:20.120 We're going to convert that 1.00

00:31:21.140 back to an F-250

00:31:22.300 because we're not stupid.

00:31:23.700 We're tired of losing money.

00:31:25.900 My old company,

00:31:26.720 Toyota,

00:31:27.320 yes,

00:31:27.780 I did media relations

00:31:28.520 for that company,

00:31:29.240 not a small company.

00:31:30.160 It's the number one exporter

00:31:31.140 of automotive products

00:31:32.960 to the United States.

00:31:34.260 Never really got on this stuff.

00:31:35.500 Didn't want part of the grift

00:31:36.580 and wasn't going to go along

00:31:37.620 with the happy-go-lucky crowd

00:31:39.640 who basically thought

00:31:41.020 we could subsidize

00:31:42.340 and blast our way

00:31:43.260 into selling vehicles

00:31:44.760 that no one wants.

00:31:45.540 And now with the United States

00:31:46.720 firmly walking away

00:31:48.480 from electric vehicle mandates,

00:31:50.100 basically,

00:31:51.000 in one fell swoop,

00:31:51.980 Trump had said

00:31:52.800 he was going to do

00:31:53.220 a certain election.

00:31:53.960 He recommitted to it

00:31:55.000 after he was elected

00:31:55.820 and he made it good

00:31:56.860 the other day

00:31:57.300 with the EPA regulations,

00:31:58.960 the waiver so-called.

00:32:00.360 In one fell swoop,

00:32:01.860 there is no more market

00:32:02.800 for electric vehicles

00:32:03.540 in the United States

00:32:04.160 and therefore no market

00:32:05.320 for Ontario's manufacturing sector

00:32:08.060 when it comes to EVs.

00:32:08.940 I hope Doug Ford is listening.

00:32:10.960 I hope he is too, frankly,

00:32:13.060 after what we saw

00:32:14.000 during the last election

00:32:15.000 and the fact that he was failing

00:32:16.820 to hold Mark Carney

00:32:18.340 to account

00:32:18.880 on his industrial carbon tax plan.

00:32:21.260 I thought I was having

00:32:22.320 an out-of-body experience, Dan,

00:32:23.960 seeing some of those steel workers

00:32:25.460 endorse the Conservatives,

00:32:26.940 like a labour union

00:32:28.220 endorsing the Conservatives.

00:32:30.160 Why?

00:32:30.780 Because they said

00:32:31.880 that Carney's industrial carbon tax

00:32:34.080 was going to decimate

00:32:35.860 their steel industry

00:32:37.180 and the Premier of Ontario

00:32:39.080 saying absolutely nothing about it.

00:32:41.800 That was wild.

00:32:42.700 So I sure hope

00:32:43.700 that Premier Ford's listening

00:32:45.020 to this conversation

00:32:45.900 and to this issue.

00:32:47.280 Now, was that a game changer

00:32:48.780 when Trump came out

00:32:49.900 and said,

00:32:50.240 you know what,

00:32:50.640 this is off the table.

00:32:51.620 We're not doing this anymore.

00:32:52.800 I mean, they've just got

00:32:53.540 such a huge market force there.

00:32:56.560 Big time.

00:32:56.920 And for four years, it's gone.

00:32:58.140 I mean, you know,

00:32:59.840 that means that anything

00:33:00.640 that we decided to do

00:33:01.920 based on Biden's,

00:33:03.340 you know,

00:33:04.700 Inflation Reduction Act

00:33:05.780 spending, you know,

00:33:06.800 up to trillion dollars

00:33:07.820 of money they don't have

00:33:08.940 to borrow

00:33:09.460 when they're at 38 trillion

00:33:10.960 in the hole

00:33:11.540 just didn't make any sense

00:33:13.620 and we knew it was going to end.

00:33:15.020 A lot of people recognize

00:33:16.140 this is just not going to happen

00:33:18.080 and at a practical level,

00:33:20.420 you know, people are buying

00:33:21.140 because they're getting

00:33:21.680 five, seven thousand bucks.

00:33:23.080 But now when you take that away,

00:33:24.780 you know,

00:33:25.160 that move into the market

00:33:26.380 of 10 percent

00:33:27.080 has now dropped back

00:33:27.920 to eight, seven percent

00:33:29.160 car dealers across the country.

00:33:31.600 Go talk to them.

00:33:32.660 They can't sell

00:33:33.480 these things fast enough

00:33:34.500 and they give massive discounts.

00:33:36.220 No one wants them.

00:33:37.360 There are real concerns.

00:33:38.400 They're very costly.

00:33:39.460 They're very hard

00:33:40.180 to maintain.

00:33:41.880 They're not as efficient

00:33:42.980 as an internal combustion engine

00:33:44.200 and they're sure as hell 0.54

00:33:45.200 aren't well suited

00:33:45.780 for Canadian cold climate.

00:33:48.020 And I say that

00:33:48.480 because anybody

00:33:49.440 who takes these little iPhones

00:33:50.380 out of their smartphone,

00:33:51.840 leave it out in the cold

00:33:53.180 for about three hours

00:33:53.900 and see how much battery power

00:33:54.900 you have left.

00:33:55.460 So look, the idea is nice.

00:33:57.160 It's novel.

00:33:57.960 It's great.

00:33:58.920 But if you want

00:33:59.480 an over glorified scooter,

00:34:01.040 then to go around the city,

00:34:02.860 take public transit

00:34:03.800 or buy an e-bike.

00:34:06.360 But trying to force me

00:34:08.080 and a lot of other people

00:34:08.860 to pay for this

00:34:09.540 at a time in which

00:34:10.600 it's pretty clear

00:34:11.520 no one wants these things.

00:34:13.180 Battery companies

00:34:13.760 are going bankrupt.

00:34:14.980 Major automotive companies

00:34:16.180 are smelling the coffee

00:34:17.160 and realizing

00:34:17.680 they're going to lose

00:34:18.200 too much money.

00:34:19.140 It's time to back off of this.

00:34:20.660 If not,

00:34:21.600 you really want these things?

00:34:22.940 Take the damn sanctions off.

00:34:24.060 China let them bring in 1.00

00:34:25.020 their BYDs

00:34:25.900 and their jillies.

00:34:26.900 They're a lot cheaper.

00:34:28.520 If that's what you really

00:34:29.380 want to drive around in,

00:34:30.220 you don't have any concern

00:34:31.160 about elbows up

00:34:32.320 when it comes to China,

00:34:33.740 then why would you punish

00:34:34.720 Western Canadian canola farmers

00:34:36.340 with significant

00:34:37.720 and silly tariffs

00:34:38.740 on protecting an industry

00:34:40.140 that shouldn't survive

00:34:41.500 unless it can stand

00:34:42.620 on its own two feet?

00:34:43.900 That China element 0.99

00:34:44.920 is a great point.

00:34:46.220 I really wanted to stress this on,

00:34:48.260 so for the practical person

00:34:49.680 who imagine you're going

00:34:50.940 to a car lot

00:34:52.340 and you want to buy

00:34:53.500 a new vehicle,

00:34:55.440 what is this going to do

00:34:56.960 on the ground

00:34:58.140 at these dealerships?

00:34:59.520 Like,

00:34:59.940 will they just pile up

00:35:01.240 and sit there

00:35:01.940 and then what,

00:35:02.740 the dealer won't

00:35:03.620 be permitted

00:35:04.620 by the government

00:35:05.300 to sell

00:35:05.900 like a Ford F-150

00:35:07.120 or like a gasoline-powered vehicle?

00:35:09.180 Is that what's going to happen?

00:35:10.760 Precisely.

00:35:11.400 They won't be allowed

00:35:12.040 to sell

00:35:12.540 the internal combustion engines

00:35:14.060 provided they meet that quota.

00:35:15.520 And the quota means

00:35:16.360 that unless one in five

00:35:18.400 at the end of the year

00:35:19.740 or end of the month,

00:35:20.400 whatever the period

00:35:20.980 of one in five,

00:35:21.840 that will soon be,

00:35:22.740 you know,

00:35:23.420 while two in five

00:35:25.360 and then three in five

00:35:26.660 and then by 2020,

00:35:28.620 by 2035,

00:35:29.640 by the way,

00:35:30.080 we're planning already

00:35:30.800 for 27 models,

00:35:31.960 it's even 25.

00:35:33.220 It means that by 2033,

00:35:34.840 you're going to start

00:35:35.440 to see a lot of sales drop.

00:35:38.420 You're going to see

00:35:39.000 a lot of people,

00:35:40.320 you know,

00:35:40.800 basically running

00:35:41.680 to the repair shops

00:35:42.440 to fix their old

00:35:43.300 internal combustion engines

00:35:44.320 or buying their product

00:35:45.560 in the United States.

00:35:46.640 Whatever the case may be,

00:35:48.080 I'm sure they'll try

00:35:49.080 to find a way

00:35:49.600 to regulate that

00:35:50.400 at the end of all of this.

00:35:51.840 Who the hell's going

00:35:52.380 to pay the fuel taxes

00:35:53.700 to pay for the infrastructure

00:35:55.080 in this country?

00:35:55.860 Who's going to pay

00:35:56.620 the road taxes,

00:35:57.840 the federal excise tax

00:35:58.940 of 10 cents a liter,

00:35:59.880 the provincial tax

00:36:01.060 of 9 cents a liter

00:36:02.120 in my province.

00:36:02.920 It can be as high

00:36:03.620 as 19 cents a liter

00:36:04.640 in Quebec.

00:36:05.500 Look,

00:36:05.700 I think we are living

00:36:06.700 in a delusional world

00:36:08.600 because we simply forgot

00:36:10.500 that it's no longer

00:36:11.480 2025,

00:36:12.760 2015,

00:36:13.580 it's not 2025.

00:36:14.740 And for that reason,

00:36:15.900 I think people need

00:36:16.520 to give their heads

00:36:17.400 a bit of a shake

00:36:17.980 and demand of Mark Carney

00:36:19.600 that he get rid

00:36:20.160 of these EV mandates

00:36:21.080 in the same way

00:36:21.880 that we had to get rid

00:36:22.480 of carbon taxes

00:36:23.260 because they were

00:36:24.000 extraordinarily detrimental

00:36:25.180 to the economy.

00:36:26.140 This is another facet

00:36:27.500 of that very dangerous

00:36:28.880 policy agenda

00:36:30.680 called net zero

00:36:31.500 and it's going to fail

00:36:33.220 both Canadians

00:36:33.940 commercially

00:36:34.680 and financially.

00:36:36.420 I'm going to get

00:36:37.120 into the finances

00:36:37.880 writ large in a second.

00:36:39.680 I just wanted to finish

00:36:40.500 here on EVs

00:36:41.800 because we drilled

00:36:42.700 down on this,

00:36:43.860 on how much

00:36:44.780 this is just going

00:36:45.580 to cost.

00:36:46.640 Number one,

00:36:47.600 just on the lot,

00:36:48.820 still with the rebates

00:36:50.120 and imagine the rebates

00:36:51.240 were all still there

00:36:52.000 for what they were

00:36:52.500 giving them for.

00:36:53.580 A Nissan Leaf,

00:36:54.720 which is a very simple

00:36:55.800 sort of a runabout

00:36:56.840 sedan car,

00:36:57.700 not a super fancy car.

00:36:59.200 The electric Nissan Leaf

00:37:01.280 was still about 15 grand

00:37:03.700 more than what a comparable

00:37:05.660 was for an internal

00:37:06.980 combustion engine.

00:37:08.000 If you are in the market

00:37:09.340 and you're a working

00:37:10.280 class family

00:37:11.020 and you want to be able

00:37:12.120 to get a new car,

00:37:13.860 which comes along

00:37:14.520 with a lot of guarantees,

00:37:15.620 right,

00:37:15.800 and maintenance

00:37:16.200 and all that stuff,

00:37:16.940 lots of folks want that, 1.00

00:37:18.160 especially if they have

00:37:18.920 to commute.

00:37:19.740 They don't have

00:37:20.700 the extra 15 grand.

00:37:22.480 Like the price differential

00:37:23.660 for the sticker difference

00:37:24.680 was still big there

00:37:25.880 and then we start

00:37:26.900 getting into these mandates

00:37:28.100 where I'm just envisioning

00:37:29.560 these business people

00:37:31.520 who are trying

00:37:32.540 to sell vehicles

00:37:33.340 who are now having

00:37:34.500 to answer

00:37:34.920 to the federal government

00:37:35.940 with a tally

00:37:36.720 at the end of every month

00:37:37.720 and then what happens

00:37:38.700 to their inventory?

00:37:39.760 Like this is going

00:37:40.300 to be crazy

00:37:40.880 and to your point,

00:37:42.200 if I drive across

00:37:43.080 to Montana

00:37:43.700 and go down there

00:37:45.120 and try to buy

00:37:45.860 a normal vehicle

00:37:46.600 and bring it back

00:37:47.240 across the border,

00:37:48.000 they're just going

00:37:48.380 to nail me

00:37:49.120 with some sort of,

00:37:50.260 you know,

00:37:50.660 environmental import tariff

00:37:52.200 or something?

00:37:52.820 It gets pretty wild.

00:37:54.700 I started doing the math

00:37:56.240 because here in Alberta,

00:37:58.280 it sounds strange

00:37:59.480 because we're supposed

00:38:00.180 to be this energy capital,

00:38:01.980 but in the winter,

00:38:03.580 we will literally get

00:38:04.840 like warnings on our phone.

00:38:06.820 Don't use your toaster.

00:38:08.320 Everybody stop

00:38:09.200 using your hairdryer.

00:38:10.300 We're going to have

00:38:11.240 a blackout on the grid

00:38:12.580 and then I'm sitting

00:38:13.660 there thinking,

00:38:14.340 how is this going to work?

00:38:16.180 I can't make my kids toast

00:38:17.600 in the morning in January,

00:38:18.660 but I'm supposed to,

00:38:19.940 everybody's supposed

00:38:20.440 to plug in their EVs.

00:38:22.000 It makes no sense.

00:38:23.380 So I sat down

00:38:24.160 and did the math, Dan.

00:38:25.580 Say Santa Claus

00:38:26.880 brought everybody an EV.

00:38:28.600 So all of the ones

00:38:29.540 that we privately own

00:38:30.420 right now

00:38:30.860 that are in our driveways

00:38:31.940 and in our garages

00:38:32.920 that are internal

00:38:34.060 combustion engines,

00:38:35.280 say they magically changed

00:38:36.840 to battery powered.

00:38:37.820 We would need three huge

00:38:41.400 can-do nuclear reactors

00:38:43.580 just to power those vehicles.

00:38:46.600 Like, number one,

00:38:47.860 we're not building those.

00:38:49.360 Two, they cost billions

00:38:51.060 and billions of dollars

00:38:52.200 and about 10 years each

00:38:53.900 to build.

00:38:54.940 So the energy is not there

00:38:56.840 and don't take my word for it.

00:38:58.420 Natural Resources Canada,

00:38:59.980 the federal government,

00:39:01.680 said the transition

00:39:02.960 is going to cost

00:39:04.300 anywhere between

00:39:05.200 $300 and $400 billion.

00:39:08.560 Just for the province, yeah.

00:39:09.860 We have un-money right now, Dan.

00:39:12.380 How on earth

00:39:13.280 are the feds,

00:39:14.680 seriously,

00:39:15.420 how are the adults

00:39:16.260 in the room

00:39:16.760 in the federal government

00:39:17.960 expecting Canadians 0.98

00:39:19.480 and taxpayers

00:39:20.320 to be able to afford

00:39:21.980 this transition?

00:39:23.780 Creative financing

00:39:24.900 based on flawed science

00:39:26.940 and ignorance

00:39:28.960 of the realities

00:39:30.380 about the laws

00:39:32.160 of thermodynamics

00:39:33.020 and energy.

00:39:34.360 Look, I have,

00:39:35.360 I always keep this with me.

00:39:36.400 It's my little coin,

00:39:37.620 my commemorative coin

00:39:38.500 from Pickering, Ontario.

00:39:40.240 It's when it was

00:39:41.080 first commissioned

00:39:41.960 back in 1965,

00:39:44.100 which is my old riding.

00:39:45.840 They weren't worried

00:39:46.760 about climate.

00:39:47.460 They were just worried

00:39:47.920 about being able

00:39:48.420 to provide energy

00:39:49.060 to make Ontario

00:39:50.000 a powerhouse

00:39:50.660 to respond to the fact

00:39:51.720 that they didn't have

00:39:52.280 the same hydrology

00:39:53.120 as Quebec.

00:39:53.760 It didn't have the energy

00:39:54.860 that Alberta

00:39:55.620 was starting to show

00:39:56.420 at that time.

00:39:57.720 So we came up

00:39:58.300 with good technology

00:39:59.100 that worked

00:39:59.540 and has worked

00:40:00.140 for the past 60

00:40:00.900 or 70 years.

00:40:01.800 And so, you know,

00:40:02.840 for me,

00:40:03.360 it's pragmatism

00:40:04.720 has to come back

00:40:05.500 into how we do

00:40:06.280 these things.

00:40:07.300 And someone who tells me

00:40:08.280 that, you know,

00:40:09.300 that driving a vehicle

00:40:11.300 is somehow going to cause

00:40:12.180 the weather to change,

00:40:13.100 I suggest they come here

00:40:14.080 to Ontario

00:40:14.520 where it's been

00:40:14.860 very cold.

00:40:15.760 Although next week

00:40:16.300 we get 33 degree weather.

00:40:17.500 I'm sure the climate

00:40:18.800 bedwetters will be out 1.00

00:40:19.780 telling us that

00:40:20.420 the world is coming

00:40:21.260 to an end.

00:40:21.880 But at the end

00:40:23.280 of all of this,

00:40:24.100 for our country

00:40:24.780 that's, you know,

00:40:25.880 $1.4 trillion

00:40:27.380 in the hole,

00:40:28.320 which, you know,

00:40:28.960 Canadian Taxpayers

00:40:29.560 Federation has really

00:40:30.700 emphasized,

00:40:31.660 a country that's

00:40:32.560 facing a possibility

00:40:33.760 of having to pay

00:40:34.560 $70 billion

00:40:35.700 of good money

00:40:36.980 just to service

00:40:37.720 that debt

00:40:38.220 and a possibility

00:40:39.040 that we have a deficit

00:40:39.900 that's much higher

00:40:40.640 than that.

00:40:41.260 We thought $72 billion

00:40:42.260 was a lot.

00:40:42.820 Wait till we see

00:40:43.300 what happens,

00:40:44.180 which is why

00:40:44.620 Mark Carney doesn't

00:40:45.320 want to have a budget.

00:40:46.640 How in goodness name

00:40:47.580 can we afford

00:40:48.220 what the Royal Bank

00:40:48.940 of Canada said

00:40:49.720 a few years ago

00:40:50.440 to bring 90%

00:40:52.120 electrification

00:40:52.760 of the country

00:40:53.260 would cost

00:40:53.660 $2 to $3 trillion.

00:40:55.420 We don't have it.

00:40:56.500 My grandfather

00:40:57.220 used to say,

00:40:57.720 I say so politely,

00:40:58.980 look, in Canada

00:40:59.860 we have a better pot

00:41:00.780 to piss in

00:41:01.320 or a window

00:41:01.720 to throw it out of.

00:41:03.420 That is perfectly said.

00:41:04.920 Okay, I'm just going

00:41:05.500 to hit pause

00:41:05.960 for a second there

00:41:06.740 because I'm desperate

00:41:07.960 for blue pills

00:41:08.640 right now.

00:41:09.200 I've been eating

00:41:09.700 black pills

00:41:10.280 for the last few weeks.

00:41:11.520 Okay, but I'm going

00:41:12.880 to folks who are

00:41:13.720 listening and watching

00:41:14.540 you've got to hang

00:41:15.620 around for this.

00:41:16.580 Okay, you have to

00:41:17.360 listen to Dan's

00:41:18.280 analysis of

00:41:19.360 where do we go

00:41:19.980 from here?

00:41:20.660 Is there light

00:41:21.320 at the end

00:41:21.660 of this tunnel?

00:41:22.580 Is Carney truly

00:41:23.480 going to be

00:41:24.100 the adult in the room?

00:41:25.160 I mean, the dude

00:41:25.740 has a PhD in economics

00:41:27.040 from Oxford.

00:41:27.820 He's got to know

00:41:28.520 his way around

00:41:29.020 an abacus.

00:41:29.780 But to do that

00:41:30.680 you have to subscribe.

00:41:32.300 So head on over

00:41:33.000 to Juno News

00:41:33.760 and become a subscriber

00:41:35.080 and a supporter

00:41:35.860 of the Candace Malcolm

00:41:37.100 show and we're going

00:41:38.000 to pick this up

00:41:38.600 in a second.

00:41:41.520 Thank you.

The Candice Malcolm Show - June 16, 2025

Mark Carney is outspending Trudeau — and banning your car

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