With the country facing significant and unpredictable headwinds going into another federal election year, the 2019 Alternative Federal Budget (AFB) shows that Canada can boost competitiveness and encourage innovation by investing in people, not by giving corporations more tax cuts.
Economy and economic indicators
Picture this. You find your latest bank statement in the mail or search for it online and curse audibly when seeing retail account fees have gone up a few dollars a month—again.
We’re now 10 years on from the biggest financial crisis since the Great Depression. Or, as our national mythology puts it, 10 years since Canada breathed a deep sigh of relief as the crisis mostly grazed our economy and financial system.
In Part 2 of our feature on the state of the economy 10 years after the crisis, the Monitor heads to the bank. With radical ideas for reforming finance's retail, mortgage and investing functions from John Anderson, Michal Rozworski, Kevin Young and Alper Yagci, Roxanne Dubois and Brett Scott. Here's a sample of what you'll find inside this issue:
A decade after the worst financial crash since the Great Depression, a fragile recovery is obscuring threats—some new, some as old as capitalism—to Canadian workers and the broader economy. In this first part of a two-part feature on the fallout of that crisis, the Monitor looks at the financial flows, government revenue shortfalls and austerity plans that undermine our ability to handle another sudden shock. Here's a sample of what you'll find inside this issue:
Illustration by Katie Raso Ten years from the onset of the Great Financial Crisis, and eight after the “turn to austerity,” provides a useful vantage point. From here we can clearly see how austerity quickly succeeded the panic-driven experimentation with economic stimulus of the 2008-09 period.
Illustration by Katie Raso
OTTAWA—Canada’s wealthiest family dynasties are more than 4,400 times richer than the average Canadian family and much more likely to keep that money in the family than they were two decades ago, finds a new study released today by the Canadian Centre for Policy Alternatives (CCPA).
March for a $15/hr minimum wage at the University of Minnesota, April 2015 (Photo by Fibonacci Blue ,Flickr Creative Commons).