On April 22, 2025, Conservative Leader Pierre Poilievre unveiled his party's election platform, outlining ambitious fiscal goals just days before the national election. With millions of Canadians having already cast their votes in advance polls, the Conservative plan aims to make a significant impact on the political landscape, especially in light of competing platforms from the Liberals and the NDP released over the weekend.
The Conservative platform promises to cut the federal deficit by 70% while simultaneously lowering income taxes by 15%. Poilievre emphasized that a Conservative government would achieve this through reduced spending on bureaucracy, consultants, foreign aid, and what he termed "handouts to insiders and special interests," while boosting economic growth through resource jobs. "Canadians have been pinching their pennies long enough. It’s time for government to start pinching pennies," Poilievre stated during the launch in Vaughan, Ontario.
According to the platform, the Conservatives forecast $100 billion in deficits over the next four years, alongside billions in tax cuts and new revenue streams. Poilievre indicated that the Conservatives believe they can reduce the projected deficit for the current fiscal year from $46.8 billion to $31.3 billion through a combination of increased revenues and spending cuts.
The platform also predicts $20 billion in revenue from counter-tariffs on the United States this fiscal year, a figure Poilievre claims is based on the Liberal government's own projections. "What I’m committed to is redistributing that money to Canadians through tax cuts and targeted aid to industries that are directly affected. I have said that we will be cutting taxes by more than $20 billion," he added.
The proposed tax cuts include a 15% reduction in federal income tax, cuts to the sales tax on homes, and reductions on the sales tax for Canadian-made automobiles. However, the platform notes that this tax cut will be phased in over four years. The Canadian Press has pointed out that Poilievre did not mention this timeline during his earlier campaign announcements. The projected cost of the tax cuts is expected to exceed $1 billion this year, rising to $13.6 billion by 2028-29.
In an effort to support businesses during the ongoing trade war with the U.S., Poilievre announced the creation of a loan program called the Keep Canadians Working Fund. He explained, "It’s going to target those businesses that we know can survive and thrive in the future but are trying to avoid layoffs in the short term while we go through this unfortunate and frankly wrong-headed tariff dispute that the president has wrongly pursued." Poilievre also vowed to never hike taxes and proposed the Taxpayer Protection Act, which would require taxpayers to approve any new or increased federal taxes through a referendum.
However, the Conservative platform faced immediate criticism from opponents. Liberal Leader Mark Carney described Poilievre's platform as containing "phantom numbers," arguing that the projections are unrealistic given the current economic climate. "These numbers are a joke. We aren’t in a joke. We are in the worst crisis of our lives. It takes a serious government. It takes a serious plan," Carney asserted.
Poilievre also pledged to incentivize municipalities to cut taxes on home building, stating, "What I’ve said to the cities is, you need to follow my example of cutting taxes on home building. If you do, I will pay half the cost of your building tax reductions." He plans to set home-building targets for municipalities, promising increased funding for those that meet or exceed their targets while penalizing those that do not.
In a broader context, the Conservative plan is not committing to balance the budget within Poilievre's first term, instead projecting $100 billion in deficits. Over the next four years, the plan outlines annual deficits of approximately $31 billion in 2025-26 and 2026-27, $23 billion in 2027-28, and nearly $15 billion in 2028-29.
Some of the projected revenues stem from repealing various regulations and taxes introduced by the Liberal government. For instance, the Conservatives anticipate that repealing the electric vehicle mandate could generate over $11 billion in revenue by 2028-2029. Furthermore, eliminating both the consumer and industrial carbon taxes is projected to yield an additional $9.2 billion.
Critics, including NDP Leader Jagmeet Singh, have also voiced skepticism about Poilievre's claims regarding social programs. Singh reminded Canadians that Poilievre had previously voted against federal pharmacare and dental care initiatives, questioning his commitment to maintaining these programs. "Do Canadians honestly believe that Pierre Poilievre will keep these programs?" Singh asked rhetorically during a campaign stop in Vancouver.
As the election approaches, the political landscape remains charged. With a record 7.3 million Canadians participating in advance polls, the stakes are high for all parties involved. Elections Canada reported that this represents a 25% increase from the last federal election in 2021, signaling heightened voter engagement.
In the wake of Poilievre's platform release, Bloc Québécois Leader Yves-François Blanchet mocked the Conservative proposals, referring to them as "hocus pocus" and suggesting that they lack substance. Meanwhile, Carney and Singh have both focused on urging voters to critically assess the Conservative leader’s projections and promises.
As the final days of the campaign unfold, the Conservative platform will undoubtedly continue to be a focal point of debate among candidates and voters alike, with each party vying to present their vision for Canada's future in a challenging economic landscape.
