OTTAWA -- Despite Ottawa’s numerous claims to the contrary, its $47.2-billion Economic Action Plan contributed little to the country’s economic turnaround in 2009 and will do more harm than good in 2010, according to the Fraser Institute.
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The action plan will leave Canadians with a $53.8-billion deficit for the current budget year. It will also make recovery more challenging going forward, Mr. Veldhuis said.
“You have to remember that 40% of that (stimulus program) is in infrastructure spending that takes a long time to implement -- a lot of that money is coming this year and into next year. That means the government is going to be in competition with the private sector . . . when the economy picks up.”
“What the federal government is doing is actually going to impede economic growth, not improve it.”
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