Paul Martin no financial wizard

White Rock, B.C. - Saturday, September 21, 2002 By: Rudy Fernandes


Paul Martin is no financial wizard, except when it comes to his own personal finances. His company, Canadian Steamship Lines, is registered in the tax haven, Bermuda.

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Paul Martin has been running around the country telling everyone within hearing that he master minded turning a deficit into a surplus. Yes, he did...but how did he do it, let me count the ways.
  • First count - as co-author of the Red Book, Paul Martin swore the Liberals would scrap the GST. Now the Liberals are considering increasing the GST by as much as 43%.

  • Second count - Martin and his fellow Liberals fought the Tories for introducing the Free Trade Agreement which has since provided Canada with tremendous economic growth. In truth, it was increasing revenues that cut the deficit. Canada debt stands unchanged; it is still over $550 billion.

  • Third and fourth counts - Martin raided over $30 billion from the Employment Insurance (EI) surplus and public service pension funds. Also, he introduced tax clawbacks on Old Age Security (OAS) and Guaranteed Income Supplement (GIS).

  • Fifth and sixth counts - Martin savagely made cuts in Health Care and Defence.




Believe me folks, Paul Martin is no financial wizard, he is a brigand. His picture should be shown alongside the word "hypocrisy" in the Oxford dictionary.

Rudy J. Fernandes