Business
Chamber of Commerce applauds City Council on reducing tax increase, but encourages even more restraint

From Red Deer & District Chamber of Commerce
Chamber reacts to City of Red Deer 2020 Operating Budget
The Red Deer & District Chamber of Commerce is encouraged by Council’s willingness to reduce the tax burden on city residents and businesses.
Chamber CEO Rick More commented. “Overall it is promising to see City Council and staff members taking actions to alleviate the cost of doing business in our City. It has been a long-time ask by our Chamber that the city take a hard look at costs, focus on competitiveness, business friendliness and reducing the tax burden on our local job creators.”
The Chamber acknowledges that neither reducing the capital contribution nor the transfer to operating reserves is a sustainable or long-term solution to tax competitiveness, but the right call for the time. “As we enter yet another year of this economic downturn, the number of business closures combined with those on the verge of shutting their doors and the exodus of business from our downtown core, the last thing we needed was another substantial tax increase. We will continue to encourage the city to focus on more efficient program and service delivery that results in long-term cost savings but maintains our core services,” continued More.
Prior to budget deliberations the Chamber provided a written submission to Council encouraging them to align municipal priorities with the province’s stated direction of job creation and growing the economy. These focus areas are especially pertinent given prior government messaging that municipal funding will be awarded based on this alignment.
More concluded “It is also encouraging to see that Council directed the City Manager Seabrooke to find an additional $400,000 in savings, but important to note that equates to approximately one-tenth of a percent of total operational spending. In a household with a $75,000 annual budget its equivalent to finding just $77 in savings. We’re confident that in a nearly $400 million budget there is significant room to reduce spending. By setting conditions that allow local business to thrive, our entire community will benefit from increased job opportunities and a strong local economy.”
The Red Deer & District Chamber of Commerce is a non-partisan, collaborative leader in building a vibrant community and fosters an environment where businesses can lead, be innovative, sustainable, and grow.
Business
Pension and Severance Estimate for 110 MP’s Who Resigned or Were Defeated in 2025 Federal Election

By Franco Terrazzano
Taxpayers Federation releases pension and severance figures for 2025 federal election
The Canadian Taxpayers Federation released its calculations of estimated pension and severance payments paid to the 110 members of Parliament who were either defeated in the federal election or did not seek re-election.
“Taxpayers shouldn’t feel too bad for the politicians who lost the election because they’ll be cashing big severance or pension cheques,” said Franco Terrazzano, CTF Federal Director. “Thanks to past pension reforms, taxpayers will not have to shoulder as much of the burden as they used to. But there’s more work to do to make politician pay affordable for taxpayers.”
Defeated or retiring MPs will collect about $5 million in annual pension payments, reaching a cumulative total of about $187 million by age 90. In addition, about $6.6 million in severance cheques will be issued to some former MPs.
Former prime minister Justin Trudeau will collect two taxpayer-funded pensions in retirement. Combined, those pensions total $8.4 million, according to CTF estimates. Trudeau is also taking a $104,900 severance payout because he did not run again as an MP.
The payouts for Trudeau’s MP pension will begin at $141,000 per year when he turns 55 years old. It will total an estimated $6.5 million should he live to the age of 90. The payouts for Trudeau’s prime minister pension will begin at $73,000 per year when he turns 67 years old. It will total an estimated $1.9 million should he live to the age of 90.
“Taxpayers need to see leadership at the top and that means reforming pensions and ending the pay raises MPs take every year,” Terrazzano said. “A prime minister already takes millions through their first pension, they shouldn’t be billing taxpayers more for their second pension.
“The government must end the second pension for all future prime ministers.”
There are 13 former MPs that will collect more than $100,000-plus a year in pension income. The pension and severance calculations for each defeated or retired MP can be found here.
Some notable severance / pensions
Name Party Years as MP Severance Annual Starting Pension Pension to Age 90
Bergeron, Stéphane BQ 17.6 $ 99,000.00 $ 4,440,000.00
Boissonnault, Randy LPC 7.6 $ 44,200.00 $ 53,000.00 $ 2,775,000.00
Dreeshen, Earl CPC 16.6 $ $ 95,000.00 $ 1,938,000.00
Mendicino, Marco * LPC 9.4 $ 66,000.00 $ 3,586,000.00
O’Regan, Seamus LPC 9.5 $ 104,900.00 $ 75,000.00 $ 3,927,000.00
Poilievre, Pierre ** CPC 20.8 $ 136,000.00 $ 7,087,000.00
Singh, Jagmeet NDP 6.2 $ 140,300.00 $ 45,000.00 $ 2,694,000.00
Trudeau, Justin *** LPC 16.6 $ 104,900.00 $ 141,000.00 $ 8,400,000.00
* Marco Mendicino resigned as an MP on March 14th, 2025
** Pierre Poilievre announced that he would not take a severance
*** The Pension to Age 90 includes Trudeau’s MP pension and his secondary Prime Minister’s pension
Business
New fiscal approach necessary to reduce Ottawa’s mountain of debt

From the Fraser Institute
By Jake Fuss and Grady Munro
Apparently, despite a few days of conflicting statements from the government, the Carney government now plans to table a budget in the fall. If the new prime minister wants to reduce Ottawa’s massive debt burden, which Canadians ultimately bear, he must begin to work now to reduce spending.
According to the federal government’s latest projections, from 2014/15 to 2024/25 total federal debt is expected to double from $1.1 trillion to a projected $2.2 trillion. That means $13,699 in new federal debt for every Canadian (after adjusting for inflation). In addition, from 2020 to 2023, the Trudeau government recorded the four highest years of total federal debt per person (inflation-adjusted) in Canadian history.
How did this happen?
From 2018 to 2023, the government recorded the six highest levels of program spending (inflation-adjusted, on a per-person basis) in Canadian history—even after excluding emergency spending during COVID. Consequently, in 2024/25 Ottawa will run its tenth consecutive budget deficit since 2014/15.
Of course, Canadians bear the burden of this free-spending approach. For example, over the last several years federal debt interest payments have more than doubled to an expected $53.7 billion this year. That’s more than the government plans to spend on health-care transfers to the provinces. And it’s money unavailable for programs including social services.
In the longer term, government debt accumulation can limit economic growth by pushing up interest rates. Why? Because governments compete with individuals, families and businesses for the savings available for borrowing, and this competition puts upward pressure on interest rates. Higher interest rates deter private investment in the Canadian economy—a necessary ingredient for economic growth—and hurt Canadian living standards.
Given these costs, the Carney government should take a new approach to fiscal policy and begin reducing Ottawa’s mountain of debt.
According to both history and research, the most effective and least economically harmful way to achieve this is to reduce government spending and balance the budget, as opposed to raising taxes. While this approach requires tough decisions, which may be politically unpopular in some quarters, worthwhile goals are rarely easy and the long-term gain will exceed the short-term pain. Indeed, a recent study by Canadian economist Bev Dahlby found the long-term economic benefits of a 12-percentage point reduction in debt (as a share of GDP) substantially outweighs the short-term costs.
Unfortunately, while Canadians must wait until the fall for a federal budget, the Carney government’s election platform promises to add—not subtract—from Ottawa’s mountain of debt and from 2025/26 to 2028/29 run annual deficits every year of at least $47.8 billion. In total, these planned deficits represent $224.8 billion in new government debt over the next four years, and there’s currently no plan to balance the budget. This represents a continuation of the Trudeau government’s approach to rack up debt and behave irresponsibly with federal finances.
With a new government on Parliament Hill, now is the time for federal policymakers to pursue the long-ignored imperative of reducing government debt. Clearly, if the Carney government wants to prioritize debt reduction, it must rethink its fiscal plan and avoid repeating the same mistakes of its predecessor.
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