(Angus Reid Global Monitor) – Many Canadians question the actual effect of the economic stimulus package introduced by their federal government, according to a poll by Angus Reid Strategies. 49 per cent of respondents think the greater part of the stimulus money will be wasted.
(Angus Reid Global Monitor) – Many Canadians question the actual effect of the economic stimulus package introduced by their federal government, according to a poll by Angus Reid Strategies. 49 per cent of respondents think the greater part of the stimulus money will be wasted.
Canadians renewed the House of Commons in October 2008. The Conservative party—led by Stephen Harper—received 37.6 per cent of the vote, and secured 143 seats in the 308-member lower house. Harper assembled a minority administration. The Tories also earned a minority mandate after the 2006 election, ending more than 12 years of government by the Liberal party.
Since 2007, defaults on so-called subprime mortgages—credit given to high-risk borrowers—in the United States caused volatility in domestic and global financial markets and ultimately pushed the U.S. economy into a recession. A recession is defined as two consecutive quarters of negative growth. The crisis has affected the global financial and credit systems.
In late January, Canadian finance minister Jim Flaherty presented the federal budget, which predicts a $70 billion U.S. budget deficit over the next five years, and includes a $33 billion U.S. economic stimulus package, as well as tax relief aimed at the lower and middle class.
On Apr. 21, Harper suggested that the stimulus package may be amended, adding, "[The plan] is one we think is fairly robust in handling changing economic circumstances but obviously we will continue to examine the situation, particularly the employment situation, and we will make adjustments where necessary."
Polling Data
Will the stimulus money be spent wisely and effectively or will it be wasted?
|
Nearly all of it will be spent wisely and effectively |
1% |
|
The greater part of it will be spent wisely and effectively |
44% |
|
The greater part of it will be wasted |
49% |
|
Nearly all of it will be wasted |
5% |
Source: Angus Reid Strategies
Methodology: Online interviews with 1,003 Canadian adults, conducted on Apr. 8 and Apr. 9, 2009. Margin of error is 3 per cent.
