During the last federal election campaign the Liberals warned that you can’t cut your way to prosperity and campaigned on “stimulative” deficits to take up slack in the economy. But as Sean Speer and I argued for CapX on May 24th, Britain is a powerful example of the truth that actually restraining government spending IS stimulative, and far more so than deficit spending. Moreover, ironically, Britain learned this lesson in part from Canada’s experience in the mid-90s fixing its chronic deficit problem. How quickly we forget….