Auditing the future

Sheila Fraser is concerned.

“The public must be aware of the challenges ahead,” Ms. Fraser says in an interview with The Globe and Mail and L’Actualité. “Canada is a country where people, as a whole, are relatively prudent on financial matters. Let’s not forget the 1990s when the government reduced spending, increased taxes and was re-elected with a larger majority. There aren’t many other countries where that happened.”

Pointing to billions in upcoming spending on bridges, the Parliament Hill precinct and computer systems, Ms. Fraser laments the fact Canada doesn’t publish long-term projections like the United States, which looks 75 years down the road. She adds that in her view, Canadians don’t want to hand down a huge debt to future generations. “There is the deficit, issues linked to the aging population and questions of climate change. How will we deal with these, in addition to all of the other spending demands on the government?”

Looking for more?

Get the Best of Maclean's sent straight to your inbox. Sign up for news, commentary and analysis.