Chrystia Freeland Wants Access to Your Savings

Written By Wyatt Claypool, Posted on December 9, 2020

In a recent interview with BNN, the Minister of Finance Chrystia Freeland pondered the idea of trying to gain access to “hoarded” cash that people had been saving during COVID

Deloitte Canada has said that savings by Canadians could reach as high as $200 billion by the end of the year, likely due to fears of how long the economic slump could last.

Freeland in the BNN interview said that, “If people have ideas on how the government can act to help unlock that ‘pre-loaded stimulus,’ I’m very interested,” implying the Liberal federal government may be open to anything from tax incentives to get Canadians spending all the way to directly taxing Canadians’ savings.

“Pre-loaded” is also said to be an indirect reference to Canadians’ savings as it implies the money the government wants for stimulus is out there in the economy currently but the government has no access to it through mechanisms like sales taxes or income taxes.

Freeland seemed to go even further during a December 4 press conference on the condition of the economy.

This is not at all far fetched as the Liberals are currently in an informal coalition government with Jagmeet Singh’s NDP who have floated the idea of a “wealth tax” in order to bolster government funds. A “wealth tax” is a step further than even a savings tax as a wealth tax taxes people’s net worth directly, even after income taxes are paid. 

Pierre Poilievre the Conservatives Shadow Minister of Finance hit back at Freeland pushing the idea that Canadians saving is a fault of Canadians and not the bad economy stating that Canada should, “move from the credit card economy to the pay cheque economy.”

Poilievre and many others who are critical of the Liberals economy approach, especially during the pandemic are correct to point out that the Liberals seem completely incapable of growing the economy and live only to transfer wealth around in order to fund their bloated programs.

From CERB to the mass shift towards EI the Liberals have done nothing to actually keep the economy afloat and instead have chosen to move the deck chairs around hoping it keeps everyone happy while the economy continues to sink lower. 

Moving towards raiding Canadians savings feels like a desperation move realizing just redistributing wealth while fewer and fewer people are out of work is a strategy that will only make the downward spiral of the Canadian economy slightly more enjoyable for those not paying attention.


The Liberals and especially the NDP if they push a savings tax could see themselves lose the confidence of nearly every Canadian but the most shameless of socialists. The typical Liberal voter definitely did not sign up for the government to paw through their bank vault, but at the very least this, hopefully dead on arrival, policy the Liberals seem to be moving towards will finally wake up many Canadians to the need for real fiscal responsibility.

If anything, the COVID pandemic has proven that the government can never replace the productive-class of society.

Wyatt Claypool

Wyatt is a student at Mount Royal University, where he is the president of its Campus Conservative club. In his writing, he focuses on covering provincial and federal politics, firearms regulation, and the energy sector. Wyatt has also previously written for The Post Millennial.

8 responses to “Chrystia Freeland Wants Access to Your Savings”

  1. Jim Kimball says:

    Seize the Liberal voters wealth first

  2. Gary Royer says:

    I siad it in other forums: pre-loaded stimulus = potential robbery victim

  3. Eileen McRAE says:

    Tax you from the womb to the tomb. That is the Liberal agenda.

    • RH says:

      Thing is if things were being done the right way and our politicians were not just so worried about their own gain, not all but many. We would not be having to raise taxes as per everything I say above.

  4. RH says:

    CERB and what ever called now is the biggest joke around, yes for some it was & is required and deserved but that may be 10% 15% if that re: the 100% that are collecting and have. I have heard stories re: a person who worked casual or part time for last 10 years, states not going back to work, why would she as makes way more sitting on CERB. How about my father’s neighbour, his wife a nurse, the father of children was working at mill but there were some lay offs or a strike prior to COVID. Beginning of COVID the mill opened up as likely Trudeau gave the firm that owns it a bunch of money to open back up. Long story short the father told mill he can not go back as of course we know he on CERB then once that done on to EI. This boyfriend/father told the employee his common law wife (not married for a reason) worked front line and daughter A symtomatic which she wasn’t. Wasn’t A symptomatic enough to ask my dad to babysit their two children while my mom lies in her bed on her death bed. My dad is 72, now of course they never offered to pay my dad, I found out and it came to a stop. My point being the nurse took paid leave re: her daughter being A symptomatic but okay to go around my mom who would die if she got COVID. He told my dad why would I go back to the mill when I can collect CERB/EI and work under the table. Wife was working at the beginning but then finally took a leave from work with full pay. Both had whole summer off, ton of new toys, boating, etc. Meanwhile we have a young man who a butcher at a grocery store, his wife part time at a used children’s consignment store p/t so she can work around husbands hours and try to avoid daycare costs, paying $ 1800.00 a month in rent for a so so home, no extra perks, wife also works at the consignment store so she can afford to get her son clothing and toys and trade things off as she receives extra 20% off working there. They receive no subsidy as make I believe over 40k year between the two of them. They save every $$ they can but believe me usually in the negative every month. They don’t ask their parents for a dime. Anyone on government assistance of any sort should not be able to travel internationally or province to province unless looking for a job and can prove it. People that are Canadians that have been receiving CERB or welfare whole time while in Mexico on a beach or abroad, what a joke and they should not be allowed to come back or pay back every cent. How about an international student receiving CERB or what ever it was? How about a student that worked once in 2019 or anyone for that matter and only made 5k in one year, did not even have to make anything in 2020, how is it they all the sudden making 2k a month and/or what ever it was students received. Everyone should have received the same amount that made under such and such a year and I don’t mean business owners who claim they make 30k a year while their company is making 200k net a year. Meanwhile these business owners paying their whole family just little enough to be able to qualify for max everything, we all know how it works, less tax and more benefits. Hire the whole family, pay them just under the amount that makes so receive max child tax, GST, subsidy, grants, etc. etc. How about landlords that have 2 and 3 rentals plus that claim 3k a year when actually brining in 90k and that on top of their job. How about the man or woman on welfare with two and three children plus that have been on welfare basically from day knew having the first child, likely before this, both claiming single so mom receives full pop or dad and the other spouse either working or on welfare themselves. Father lives in the paid rental or subsidized property as well as tells welfare he has no home. Meanwhile I found out has two kids back East that does not pay for, I guess you can’t take part of his welfare cheque for child support. So likely another woman back East with two children on welfare as well as a dead beat spouse collecting and ripping off Canadians even more. I never thought would be a day that a person with children on welfare would have it better than say a young couple who both work with one child who make just a bit too much to qualify for any housing grant, day care grant, lower child tax than most as make just a bit too much. The two that work have to pay top rent as can’t save enough for a down payment yet where they live. Meanwhile we have government subsidizing Karen down the road with her three children so she can live in her mom’s boyfriends lovely suite and welfare pays him directly not knowing the mother of the welfare daughter and her boyfriend a common law not on the house, likely she on welfare or disability herself so she knows how the system works. Welfare mom just had her 3rd child with same goof but funny still claims single, just keeps having babies with this man she not marrying, we all know why not married as more perks. The Goof is on welfare as well but not saying his actual wife (common law) father of his three kids has everything paid for and more. Why is it welfare child tax recipients received more child tax through out cover and other provincial and government grants, what has changed? Sure price groceries etc have went up but food stamps work just fine. I just about lost it when saw a small private government school bus picking up her two eldest at the door for kindergarten and grade 1 daily because the mother states she too scared to go out re: COVID & the dad too busy doing what I am not sure. I am sure they made up some lie why their children have to go to school on a small cute government school bus by theirselves. Hey she has fooled welfare since likely age of 19 so I suppose she knows how to work the system. I know maybe the government should tell her she either helps other welfare parents or people who use subsidy for day care and hey even educate this welfare lady to ticket her to do so, at least look after children for her keep. I think it is high time we start saying no more privacy when you on welfare or government pay. I feel if people have to be shamed into stop using the system, stop teaching their children that welfare and subsidy is a good thing so it does not repeat generation after generation. How about certainly the mother was not too scared to have three children that we Canadian’s do pay for. Just like we pay for the people scamming CERB or what ever it is. There was part time jobs everywhere since COVID started so why is it a student or a high school student could not find work or anyone for that matter that was let go. I do know some people honestly do need welfare and CERB but then there should be food stamps, should not be a privacy act for people that on welfare or CERB. I also think disability is being abused, not by all and I could go on and speak of all the woman and men that fully capable of working but just can’t let go of that $ 1200.00 a month with all prescriptions filled for free, subsidy after subsidy. WE have university educated healthy woman and men at ripe age of 21 to 60 on disability, yet travelling, dressed well, free housing, or subsidy, some even working on side or have a spouse that can support them. I think there should be a wealth tax also but not just for the ones that are straight up and don’t rip the government or Canadians off. The ones that own two and three properties plus, the ones that try to hide every dollar their business makes, #’d companies, sole proprietor, I think go right after the business owners, look at their gross. Start looking at what people that own more than one property are claiming a year for rental income. I am not say penalize the people that have been good with their money but yes if you make over a certain amount a year there should be no free medical, certainly no benefits and if own a bunch of homes then make sure claiming every dime every year and if have not then go back and claim from start. I think if you own secondary properties and renting for decent price meaning not charging disgusting amount and claiming everything then yes give them a break as helping other people have homes. Another thing I feel very strong about is anyone that wants to immigrate to Canada or come here should be paying medical and should receive no perks for the first 5 to 10 years. I am all for immigration and love all races but Canada is a great country or has been and especially if wealthy immigrants come here there should be no reason they are not paying for everything. Not buying a business for 400k and hiring their whole family and friends and pay them just shy of the amount that makes it so they can get everything out there and more. I am all for helping refugees and migrants but first we need to clear somethings up in our country, we need to educate our children, get people of welfare, if it means education fine. Educate and give our elderly top notch education as some would like to learn and work on the side. We should be offering all of our children an education re: post secondary and putting more money into our education system, needs a big change. We should be educating our natives on reserves that are feeling down and have some issues, not all, some are doing well. We should be looking after our Canadians that are here first and foremost and then when we have our country up and running, education, great health system then we can look after others. We have too many politicians lining their pockets looking out for their own best interest as relying on that pension what two years after retire. I know some are going to pick this a part if they read it but I don’t care because everything I am saying makes sense. We also need to stop these disgusting drugs coming into our country and get rid of the criminals that are involved.

  5. Barbara Armacost says:

    RH, most of what you said is absolutely a great idea, but I don’t like over taxing those that have worked real hard and have gained some wealth, if you do, then you take away incentive to try to change, need to make sure that welfare does not give more than the lower workers get, or you will eventually have all on welfare

  6. Gary Dube says:

    How about they stop playing God with peoples lives. Stop destroying Albertas oil and gas, BC forest industry as well as other industries they feel they must destroy for the sake off the UN. They have created a business climate that no person in their right mind would invest in, they are leaving in droves. Stimulate the economy through incentives and tax breaks give people confidence to spend money not bird it. It a proven strategy that governments around the world have used for decades.
    I have a better idea though. How about you resign I mean the liberal party and let the adults take over. You’ve proven time and again you have no clue what you are doing and you have destroyed west was a pretty decent country.

  7. me says:

    Myself and My whole family did not take any CERB payments, We aren’t rich, but we make by and didn’t need it, So Chrystia Freeland can jump off a bridge all I care.