The Tories have apparently backed down on their threat to include the cut to political party subsidies in the confidence vote on their fiscal update set for Monday. The opposition, nevertheless, seem as determined as ever to bring down the government.
Or are they? Now that their handouts are safe, do they really have the stomach to go back to the polls so soon?
Here we have the situation where any other Group of Seven government would gladly trade positions with Canada’s financial infrastructure, and yet our opposition parties want to defeat our freshly mandated government.
While the United States and others around the world have had to inject trillions to shore up their banks and economies, Canada has been able to avoid costly bailouts. True, the Bank of Canada and Canada Mortgage and Housing Corporation have both pitched in and taken mortgages from the banks in exchange for cash, but, so far, this has not been at a cost to taxpayers.
Indeed, Canada is the only member of the G7 still recording surpluses. This is a remarkable record, much of the credit for which belongs to the Jean Chrétien/Paul Martin Liberal governments. They laid the groundwork that has provided Canada’s robustness in the face of this economic downturn.
And the Stephen Harper government is demonstrating that even in the face of wide-spread panic, they will remain calm and resist shrill calls from the opposition to throw open the govenrment’s vaults and shovel taxpayer money out the door. The United States is doing that, but their banking infrastructure has collapsed, ours has not.