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In a nation where the media wields a huge influence over the public, Peter Ratcliffe’s tweet struck a chord with many Canadians. In his tweet, Ratcliffe accused broadcasters of omitting vital economic indicators, including Canada’s low deficit-to-GDP ratio and the politically nuanced issue of Pierre Poilievre, the leader of the Conservatives, not holding a security clearance.
His utterances appear to have set ablaze a hornet’s nest of controversies demonstrating the extent of division among Canadians on the territorial aspect of media coverage of political issues.
“As far as I understand, Canadian media have very little, if anything, to say about how Canada has the best deficit to gdp ratio within the G7 nations. Why? Why had this happened?”.
PeterRatcliffe @PeterHRatcliffe
No Canadian broadcaster has spent any time highlighting that Canada has the lowest deficit to GDP ratio in the G7.
— PeterRatcliffe (@PeterHRatcliffe) December 18, 2024
Why is that?
Canadian broadcasters ignore or tip toe around Poilievre’s lack of security clearance.
Why is that?
What is the political agenda of broadcasting?
Situations like this bring into question other things. For example, are Canadian broadcasters interested in other narratives, or is there a massive cover-up to keep the truth hidden? The reality is much more nuanced, and it touches upon more than just a single tweet.
The Discussion Regarding The Deficit-to-GDP
Regarding the G7 countries, Canada’s Deficit to GDP ratio (2%) is the lowest, meaning that there is an effort to be fiscally responsible. Ratcliffe, however, mentioned that this relevant data has been neglected by mainstream journalists. Based on Statistics Canada, a comparison can be made between the US and Great Britain where the US has a deficit to GDP of 7.4% and Great Britain 4.4%.
According to the Annual Financial Report of the Government of Canada, Canada’s budget deficit is estimated at $308 billion for 2024. However, the national debt has risen from $616 billion in 2015 to $1.232 trillion in 2024, averaging $185 billion in debt growth over the last 9 years. But what these figures indicate is that there is a significant gap between growth in deficit and growth in debt.
So, the debt can remain so long as the government’s fiscal policy is sustainable, otherwise, the question arises as to why they continue to sustain such fiscal policies. But then again, why do politicians conduct scandals instead of addressing solutions to real issues?
Meanwhile, the user @GaryBarone refutes the claims of media silence, since the topic has been covered multiple times on BNN Bloomberg:
actually its been on BNN Bloomberg numerous time (which is owned by Bell Media which is owned by Bell). So stop lying. You are simply lying.
— Gary Barone (@gbarone2) December 18, 2024
Understanding The Debt Burden That Canada Faces
Canada’s deficit continues to remain low compared to other G7 states, the increasing national debt indicates otherwise. As per the data provided by Finance Canada, the ratio of debt to GDP has increased from 87% in 2015 to 118% in 2024. The increasing government expenditure combined with rising interest payments accounts for most of this increase.
As interest rates keep increasing, the growing debt load will ultimately be passed on to Canadians in the form of increased taxes or decreased public services. The Bank of Canada reports a 12% year-on-year increase in interest payments on the national debt which is expected to contribute a larger share of total government spending in 2024.
Also, the Canadian Taxpayers Federation is raising alarm over these ever-increasing costs and asking the government to curtail the costs and reduce the national debt. The question remains: Why is this subject not being talked about by the mainstream press?
User Jacques Merde @MerdeJacques criticizes Trudeau for doubling Canada’s federal debt:
Deflecting again… We are Bitching about DEBT, FEDERAL DEBT… from 616 billion in 2015 to 1.232 Trillion in 2024 … DOUBLED the debt. That's on Trudeau and no amount of interest rate lowering from the Bank of Canada to make Trudeau look good is going to change that! We…
— Jacques Merde (@MerdeJacques) December 18, 2024
Poilievre’s Security Clearance: The Untold Tale
Twitter has also seen Ratcliffe making comments regarding the issue of lack of security clearance for Pierre Poilievre, leader of the Conservative party, which is among issues that have received scant attention in mainstream debate.
Some argue that Poilievre’s security clearance might heavily affect how he wields political power for him. This has helped reinforce the perception that there is some editorial bias in regard to the issue: some of the broadcasters do not want to go into details about this issue.
According to UselessWins, Pierre Poilievre’s lack of security clearance is overlooked:
Also, they ignore @PierrePoilievre's lack of security clearance because he's had one before and they know that him not getting one was a better political move for him, because he forced the government to brief him anyway, which would not have happened had his security not been…
— Useless (@UselessWins) December 19, 2024
Another user, @TheOriginalLCA, says that Pierre Poilievre holds security clearance for his current role but refuses a higher-level clearance due to restrictions:
Poilievre has security clearance for his current position. If he didn't he couldn't be there. He's refusing to get the type of security clearance that would give him access to a document which that clearance would then restrict and censor him from discussing it in parliament. Ok?
— @LCA (@TheOriginalLCA) December 18, 2024
A Critical View: Media Influence on Public Perception
Bearing more than 75,000 views on the first tweet, the context of discussion regarding Ratcliffe’s comments demonstrates that the Canadian public is becoming more sceptical towards the media.
While as Gary Barone noted, BNN Bloomberg and other outlets provide coverage of various economic matters, the overall coverage offered by the CBC network has been criticized for not adequately addressing these important subjects. As the date draws near for the federal elections, this situation can easily beg the question of how much coverage can impact the general political discourse.
In politics, context is very important. If Canadian media rather focus on sensational reporting and omit crucial economic information, then the Canadian public will be less informed soon. And, as Ratcliffe’s tweet indicates, the bigger issue is: what is preventing the media from fulfilling its obligations?
The Applicability of Financial Media to Politics
Canada’s unsustainable growth of national debt and high deficit-to-GDP media coverage can be classified within the scope of reproving frustration. Nearly half a century ago, surveys by Canadian research firms revealed that more than 42% of Canadians had no idea about the future of their economy in 2024.
Meanwhile, Poilievre is gaining popularity, over the past two polls, he has won in some regions surpassing Justin Trudeau by two to one (Ipsos Canada, 2024). To some extent, this popularity stems more from the (over)attention of the media to political scandals and security clearance than any solid knowledge about the economy.
The Bigger Question
This tweet brings out several questions regarding media responsibility and political maneuvering as well as the state of the economy in Canada, as Ratcliffe has pointed out what is the matter with broadcasters, or are they just providing the narrative that the audiences wish to hear? Either way, the lack of transparency regarding government spending policies or the political city security clearances can only weaken the people’s faith in institutions.
As Canadians go to vote, one question stands out– is the Canadian public getting the entire story, or only what the media chooses to show? Is the issue not whether different media organizations are biased but even if the public is prepared to demand more and more from their journalists and ensure they are also held accountable for the stories they chose to ignore?
Last Updated on by Saket Kumar
