In Nova Scotia, 75,000 people—including children, people with disabilities, seniors, parents, and single people— live in circumstances that compromise their health because they are deprived of basic needs such as adequate food, clothing, and housing.
Poverty takes its toll on individuals, families and communities, but failure to address poverty costs us all. Higher levels of crime and school dropout rates, poor health and the lost productivity associated with poverty costs over $1.5 billion dollars annually.
Economy and economic indicators
One of the NS NDP’s election promises was to institute an 8% energy tax rebate. In an interview in the initial weeks of the new government – two years ago in September – Premier Darrell Dexter suggested that this rebate was important because ‘the necessities of life should not be taxed’.
Since then, the NDP government raised the HST and raised the rebate to 10% for all Nova Scotians. Electricity is indeed a necessity, but whether basic necessities are taxed is beside the point. The point really is whether basic necessities are affordable to all who need them.
From Wall Street to Iceland to Greece to Ireland, the world is lurching from one financial crisis to another. The financial panic of 2008 has morphed into the era of financial crises. If you think you live in an oasis secure from financial meltdown, think again. Financial markets are so twitchy (and so interdependent) that a problem anywhere could become a problem everywhere.
How did we become hostage to financial markets? We’re in this mess because a generation of neoliberal finance set the stage for chronic worldwide financial instability:
Manitoba avoided the worst of the damaging effects from the 2007-2009 financial crisis and economic recession. Economic growth in the province slowed to zero in 2009, but 2010 saw growth rates rebound strongly to 2.5%. Even higher rates are forecast for 2011 and 2012, although new anxiety is churning over the European and US economies which could affect Canada and Manitoba.
The Saskatchewan New Democrats have promised to reform and repeal much of Brad Wall's labour legislation in their recently released policy review "A Rooted and Growing Vision."
While changes to this legislation would be most welcome to the labour movement in the province, should we be satisfied with merely returning to the status-quo if an NDP government were to return to power in the province?
As Parliament resumes after Canada’s historic 41st election, all eyes are on Prime Minister Stephen Harper and how he delivers on his campaign promises of growth and stability.
With no encumbrances to its decision-making powers, the Harper majority government will be responsible — and will be seen as responsible — for Canada’s economic fortunes in the months and years to come.
CCPA Senior Economist Armine Yalnizyan gets up close and personal in this pivotal lecture on income inequality and democracy. Watch the TVO video of the lecture, which was produced in collaboration with the Literary Review of Canada.
OTTAWA—Canada’s financial sector has been the greatest beneficiary of recent corporate income tax cuts, says a study released today by the Canadian Centre for Policy Alternatives (CCPA). The study, by economist Toby Sanger, says Canada should join other countries in introducing fairer taxes on the financial sector that could generate over $10 billion a year.