The following is a response to Gwyn Morgan’s article in the Review-Mirror in which he blames the Liberal Party for Canada’s debt, claims the Conservative Party introduced balanced budgets and reduced the debt, and encourages privatization in support of corporations and the wealthy.
December 3, 2019
Published December 5, 2019; Review-Mirror
I reference Gwyn Morgan’s article in the November 28, 2019 Review-Mirror. It was, to say the least, an interesting read. The fact that such a well written article by a respected journalist, while making some valid points, contained misleading and partisan information pertaining to a real issue is disappointing indeed. However, what should we expect from the founder of Encana, an Oil Company formerly headquartered in Calgary and before asset sales in 2013, was the largest natural gas producer in Canada. Also, he is on the Board of Trustees for the Fraser Institute, which he references in his article, a Director with the Manning Centre for Building Democracy and a non-executive Director of HSBC. Do you see a pattern here?
Mr. Morgan also writes for the Globe and Mail and one would therefore assume that his columns would objectively present, rather than skew, the facts, or at least not offer his opinion as the facts. Let’s take a closer look.
First, we should clarify the difference between “deficit” and “debt” which Mr. Morgan chooses to use interchangeably. In simple terms, “Deficit” is when expenditure exceeds revenues in a given year, whereas “Debt” is the accumulation of deficits year over year. Mr. Morgan states that Mr. Harper announced a no-deficit budget in 2015, note the phrasing “announced”. In fact, Mr. Harper’s Conservative Government increased Canada’s debt during his tenure by approximately $60 billion. Mr. Mulroney, also Conservative, increased the debt by approximately $270 billion during his leadership. Clearly Mr. Morgan, the fiscal mess Canada is experiencing does not lie solely at the feet of the Liberal Party.
Mr. Morgan includes a quote from the Fraser Institute of Canada promoting further privatization and less regulation on the premise of furthering investment. That is investment targeted at increasing the wealth of corporations and their principals. A quick what’s what of the Fraser Institute is important:
- A leading Canadian voice of Climate Change DENIAL;
- Received support from large oil companies;
- Received support(funding) from the US Billionaire Koch Brothers;
- Supports tax cuts for the 1% and corporations;
- Opposes higher minimum wages;
- Research wing was created with money from tobacco companies;
- Was a leading opponent of anti-smoking laws;
- Denied the harmful effects of second-hand smoke;
- Registered as a charity, their funding from billionaires and corporations are tax deductible.
This is not an exhaustive list, but it is sufficient enough to question the Fraser Institute as an objective, independent voice relative to the past, present or future of Canada.
Mr. Morgan also quotes Mark Milke: “every generation has to learn about the consequences of excessive borrowing for themselves”. Mr. Milke is a senior fellow of the Fraser Institute. Do you notice a continuing pattern here?
We, the citizens of Canada, can control our future, and that control is not by the exponential bloating of banksters and corporate elite balance sheets. We must unite against partisan, party politics and reintroduce the Bank of Canada as the government funder. Partisan, party politics puts the success of the party ahead of all else. The Bank of Canada as a public bank, as opposed to the private banks, puts public well-being, i.e. infrastructure and programming, ahead of shareholder profits.
Watch for a future article focusing on these subjects.
Other views are welcome.