CPA Canada reaction to Tuesday's Federal budget

The lack of a timeline to bring the federal budget back into a balanced position is a concern of the Chartered Professional Accountants of Canada.

Spokesperson Tobin Lambie says the deficit this year is estimated at $18.1 billion.

“CPA Canada believes that the country needs a plan for fiscal stability. One that establishes a target date to return to a balanced budget in the medium term,” he says.

Lambie says there are several items in the budget which address concerns of Canadians including assistance for low income working Canadians, creation of an advisory council for the implementation of a national pharmacare plan, addressing the advancement of women, better support for Canadian innovators and measures to enhance the well being of indigenous peoples.

But, the budget could do more to keep Canada competitive.

“In our view an independent comprehensive review of Canada’s tax system would greatly assist in creating a best in class tax system to generate jobs, attract investment and foster inclusive growth for the benefit of all Canadians,” he says.