Over the next few weeks, plan to listen to a war of words about balanced books, deficits and all kinds of budget talk between Prime Minister Justin Trudeau and political foes, including financial commentator Kevin O’Leary.
Trudeau, of course, plans to run deficits in order to stimulate the economy and says we shouldn’t be obsessed with balancing the books, but O’Leary points out that Trudeau’s deficits are going to run higher than first anticipated and will snowball as the debt continues to increase.
You can read more in this story from the Toronto Sun.
The federal government isn’t alone in taking criticism. In Ontario, Premier Kathleen Wynne has come under fire for that province’s $308-billion debt and a $5.7-billion deficit this year after the budget was introduced recently.
There was also criticism after the Golf Canada annual general meeting just over a week ago in Halifax when financial statements showed that Golf Canada operated at a loss in 2015 of $915,495. The decline in the Canadian dollar and global investment markets were the main reason given.
What emphasized the 2015 loss is that it came a year after a loss of $1,400,675 in 2014, that due to poor ticket sales at the RBC Canadian Open at Royal Montreal that year and the 2013 flooding at the Golf Canada Calgary Centre.
Not unlike the government squabbles, there was no shortage of opinions about the 2015 loss shown by Golf Canada. One editorial suggested it might be time to clear house at Golf Canada. Another was a lot more syrupy, saying Golf Canada does a lot with what it’s got.
Many believe Golf Canada is trying to be all things to all people and has strayed away from its original mandate to become the National Sports Organization of the game and receive more funding, which puts a heavy emphasis on player development.
At the same time, paid members and clubs are expecting services at the grassroots level, handicapping and rules among them, dating back to the days when what was the Royal Canadian Golf Association was the governing body of men’s amateur golf in this country.
Golf Canada has already snuffed the Canadian Women’s Tour for this year at least, but don’t hold your breath waiting for it to come back. There are likely more cost-cutting measures to come and I could think of many myself as I’m sure readers can, as well.
The bottom line (pardon the pun) is this – should Golf Canada be required to show a balanced budget each year? That’s the topic of this week’s GNN Poll.
You can vote below, or on the GNN home page, and as always, feel free to expand your thoughts in the Comments section below.
Should Golf Canada be required to show a balanced budget each year?
- YES (75%)
- NO (25%)