Conservative platform projects $31B deficit, higher revenue

VAUGHAN — The Conservative party released an election platform this morning that forecasts a $31-billion deficit this year and projects $20 billion in revenue from counter-tariffs on the U.S.

The platform – the last of the major party platforms to be released – comes out after four days of advance voting.

Leader Pierre Poilievre says the Conservative plan would cut bureaucracy, government consulting and foreign aid and “unleash a half-trillion dollars of economic growth” in the resource development and housing sectors.

The party projects a Conservative government would take in $12.8 billion in new revenue from increased homebuilding over four years, and collect almost $1 billion from repealing the Impact Assessment Act.

The Conservatives are promising to cut $23 billion in government program spending over four years – a figure that includes their promise to defund the CBC.

They also have promised to reduce personal income taxes and cut the GST on new homes under $1.3 million.

This report by The Canadian Press was first published April 22, 2025.