Perth-Wellington MP John Nater said uncertainty around tariffs and the federal budget loom large on Canadians.
Tariffs are back in the spotlight again after U.S. President Donald Trump abruptly cancelled trade talks after the Ontario provincial government’s anti-tariff ads appeared on television.
Trump said he would add an additional 10 per cent on existing tariffs.
“It’s a huge concern,” Nater told MyStratfordNow. “One of the issues that doesn’t seem to be going away. We are feeling the effects of it. Anytime there is uncertainty in the economy, it really hurts our local industry, both small and large businesses.”
Nater said he is seeing uncertainty leading to hesitancy.
“It doesn’t matter if I am talking to a small family-run business or a large manufacturer, they are all in the same boat…they are holding off on buying that new piece of equipment, holding off hiring those new employees, holding off on that next expansion because of that uncertainty.”
The aversion to risk and hesitancy directly impacts investments in the economy, he said.
Nater said he is also keeping an eye on the forthcoming federal budget, to be tabled later than normal, on Nov. 4. Being almost two-thirds of the way through the fiscal year by that time contributes to more uncertainty, he said.
“We haven’t seen the fiscal roadmap. We haven’t seen the projections. We haven’t seen the plans for where we are going as a country and as an economy from this government.”
More specifically, Nater said Conservatives are interested in the budget deficit, noting recent reports indicate it could be significantly higher than previous projections, in the $42 billion range.
“When the budget deficit goes higher there is a cost to Canadians.”
The MP said last fiscal year, interest payments on debt exceeded what the federal government spent on healthcare.
Nater added where the Liberals go in the budget with home building, energy projects and cost of groceries are of big interest to Conservatives.
