Why Canadians Should Be Furious About This Budget Delay?

I mean, there's been a lot of disruption. And we've had a budget every single year since 1867, with the exception of 2020, which was a disgrace in and of itself.

We've got Kim Moody, who is the founder of Moody's private client. He's a chartered accountant. He is an amazing individual. He's also one of my colleagues from the Strategic Coach organization. We love having great conversations with Kim because he brings so much value to the table with his knowledge.

I'm shocked, still shocked that the average Canadian thinks that that's acceptable. It should not be and it is not. I mean, to use Covid as an excuse to not provide a budget. I'm shocked, still shocked that the average Canadian thinks that that's acceptable. It should not be and it is not.

Why is it we had to wait so long to get a budget? Because that seems a little bit odd on its own from a federal standpoint. And what should Canadians be making of what they've heard about this budget so far?

Thanks, Richard. There's lots to unpack there. You know what, why did we have a delayed budget? The stuff that's been put forward by certainly friendly media and friendly people to the government, which I'm certainly not one of them, is that they needed to take their time after an election. You know, they, they had to assess. That's total. The, there's lots of history in our. Our country was born in 1867 and we've had a budget every single year since 1867. Now, just to be clear, and I put this in my writings about it because I've written about this delayed budget stuff or you know, quite a few articles in the Financial Post. But, but we've had a budget every single year since 1867, with the exception of 2020, which was a disgrace in and of itself. 2020, as a reminder, is the COVID year when the government was shoveling money out the door with no accountability. And to me that's no excuse for not having a budget. That was an absolute disgrace. And you know, when you think about our history from 1867, I mean, there's been a lot of disruption. You know, like you said, the news cycle. Well, the news cycle's been going on since time began, right? It's just the different forms of news that we get now is just relentless, right? Social media, 24 hour news channels. But news happens all the time. And some big events in history have been World War I, you know, that lasted for four years. That was pretty disruptive. But we had a Budget every single year of that. You know, we had the Great Depression, which started in 1929. We had budgets every single year. We had World War II that started in 1939 and ended 1945. We had budgets every single year of that. We had the Korean War, you know, we've. We had budgets all the way through that too. We had the Cuban Missile crisis In the early 1960s, you know, we had gas shortages, you know, in 1970, and inflation like crazy. You know, it goes on. And we had financial crisis, world financial crisis in 2000, crisis in 2008, still had a budget.

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And so I mean to use Covid as an excuse to not provide a budget. It was disgrace, unfortunately. But, you know, the general public bought it for the most part. Oh, oh, man, they, you know, they're going through a crisis.

Shut up.

As if. And then, you know, and then to marry that up with, well, we have a new government, you know, we have a new leader. He needs to take his time. That was an absolute disgrace.

Some would say that is a crisis in itself there, depending on what side of the fence you might be on.

Yeah, well, we could talk about that for sure. So do I think, you know, it was 567 days since we had a budget from April. April 16, 2024 was the last one. And then November 4th of, you know, just a few weeks, a couple weeks ago. That is an astonishment. It's a, it's a disgrace and it should never happen. And as I wrote about one of my articles recently, I'm shocked, still shocked that the average Canadian thinks that that's acceptable. It should not be and it is not. So that's, that's kind of my build up to, you know, my, my short comments on what do I think of a delayed budget. I don't know if you have any comments on that, but I could certainly go into what I think about the budget now if you want.

But. Well, the thing that comes up for me, as you rattle off a number of these well known historical impacts and events that transpired that everyone's familiar about. I mean, granted we, you know, I certainly learned about them in various history texts, certainly a great deal in school. I suspect maybe that's not being taught the same degree in school, maybe once was. But there is a, in my opinion, some would say, I think a lot of people would agree with me, that in an unprecedented news cycle, World war, global crisis type event, whatever that might look like, however that may present itself in the veil of the new cycle, would indicate a higher need and reason for putting the budget together and releasing it to the general public to create more either confidence or awareness. Because if you don't know what the federal machine is going to be doing or planning to do in some degree, a budget is a plan. Nobody really sticks to the budget. I don't imagine this government will either. But it gives you some varied indication of where they think they're going to be allocating dollars. And so the rest of the world or the nation and its various elements, whether what you know, if you're in manufacturing, if you're in the financial services business, if you're in whatever format of business you're in, you now can start to plan effectively to some degree relative to what that document says. And until it's released, you're literally sitting in some form of planning limbo about your own life and your own business because you have no earthly idea what the federal government's going to do. So the need for the budget is, is amplified in a period of crisis elements not to be delayed to some unreasonable date, some unreasonable timeline that is clearly unprecedented. Hey, if you like this video, go ahead, watch more right here. Or if you want to watch the full conversation, the full podcast episode, go ahead, click right here.