Mr. Speaker, nations around the world recognize that to preserve civil liberties there must be limits on governmental powers, including those of spending and deficits.
A growing number of provincial governments have balanced budget laws. We Reformers now urge the application of similar restraints at the federal level. We are proposing the adoption of a
taxpayers protection act which compels future governments to balance the budget every year.
The act will have sharp teeth. Members of any government that runs a deficit would face pay cuts of up to 30 per cent and a 75 per cent majority of Parliament would be required to override the provisions.
Canadians have long supported limits that prevent a governmental attack on individual freedoms. It is now time to limit government attacks on individual wallets. This is why we are proposing a taxpayers protection act as an economic bill of rights for beleaguered Canadian taxpayers.