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.
Taxes and tax cuts
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
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:
There has been plenty of concern in Canada and around the world about income inequality, in particular the growing gap between the incomes of society’s highest-paid 10% or 1% and those of the bottom 90% of income earners. We spend less time thinking about inequality in relative wealth or net worth — the sum of all individual or family assets (house, car, investments, etc.) minus all debts (mortgage, student loan, etc.).
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).
In this issue:
Illustration by Joep Bertrams (Cagle Cartoons)
Illustrations by Remie Geoffroi This is a story about two elections: the one about the “change” Ontarians might have had if circumstances hadn’t thrown the province into political chaos, and the one we are now facing, which is about change and much more.
Ontarians heading to the polls on June 7 face a stark choice between two visions of government and two styles of governing. The choice they make could reverberate across the country. A Progressive Conservative victory under the leadership of the right-wing populist Doug Ford would almost certainly usher in another period of harsh and unnecessary austerity, and has the potential to set racial and economic justice back decades.