Economy and economic indicators

OTTAWA—The Canadian Centre for Policy Alternatives (CCPA) urges Ottawa to address Canadians’ real financial worries rather than sideline them in the political bluster brewing over a federal budget and possible election.

With the release of its annual Alternative Federal Budget (AFB), the CCPA proposes a federal budget that connects with what matters to Canadians: post-recession job and household debt worries, pension concerns, worsening income inequality and climate change.

“With so much at stake for the financial security of the country—and all Canadians—now isn’t the time to ‘stay the course’ or waste money on questionable corporate tax cuts, fighter jets and jails,” says David Macdonald, AFB coordinator. “Canadians are being taken in a direction that bolsters military and prison security spending but that does nothing to secure Canadians' financial future.”

To address Canadians’ growing financial insecurity and ensure the social safety net is there for Canadians—whether they’re sick, retired, or just starting out in life, this year’s AFB proposes:

• Create Jobs: Setting the foundation for a robust recovery by making public investments that provide Canadians with dividends for years to come, and creating 300,000 jobs in the short term.
• Rebuild Infrastructure: Continued collaboration between all three levels of government to address Canada’s $200 billion municipal infrastructure deficit – a job creator for today and the foundation for growth tomorrow.
• Reduce Poverty: Tackling income inequality and poverty through public programs including better pension income, universal pharmacare and national child care.
• Legacy Tax: Shoring up federal revenues with a new Legacy Tax on the richest one percent of Canadians, who are doing better than they have since the 1920s and should contribute to Canada’s economic recovery.
• Stop Tax Cuts: Returning to 2007 levels of corporate taxation, saving $13.7 billion.
• Green Strategy: Turning Canada into an environmental leader, rather than a laggard, by kick-starting a focused and forward-looking green strategy.

 “With the prospect of an election this spring, let's use this moment to have a real debate about the problems facing most Canadians—and the many solutions available to us, such as calling on corporations and the rich to play their part in securing Canada’s economic future,” says CCPA Senior Economist Armine Yalnizyan. “It might be controversial, but that debate is getting lost in the political fray.”

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For more information contact Kerri-Anne Finn, CCPA Senior Communications Officer, at 613-563-1341 x306