Archive for the ‘Economy/Employment’ Category
Did the Bank of Canada just push Canada over the tipping point?
Wednesday, July 19th, 2023
Profits as a share of GDP have averaged 21 per cent since the start of the pandemic and profit margins are higher too… We need policymakers at every level to address the real causes of excess/persistent inflation — profiteering, financialization, undersupply and supply chain bottlenecks. Without that we’re all left worse off regardless of the level of inflation.
Tags: economy, ideology, standard of living
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While Ford pampers spa users, our school kids fend for themselves
Thursday, July 13th, 2023
The government’s miserly approach to funding our children’s education seems curious in such a rich province… The government is actually swimming in money — even as it hollows out key public programs, underfunding schools, shutting down hospital emergency wards and doing nothing for the homeless beyond allowing developers to build ever more condos that are quickly sold to high-income buyers… The notion that we can’t afford a strong public sector has always been a scam.
Tags: budget, featured, Health, homelessness, privatization, standard of living
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What you need to know about Canada’s new first home savings account
Saturday, July 8th, 2023
… many first-time buyers start by buying more modest properties initially, and the FHSA could help them get into the housing market earlier. Of course, this will still take time given the $8,000 per year contribution limit. While the impact of the FHSA won’t be instant, and while it’s not a complete solution, it’s a step in the right direction. For many Canadians, owning a home provides security and a sense of belonging.
Tags: economy, housing, jurisdiction, participation
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Why we need to rewrite the script on corporate taxes
Wednesday, June 7th, 2023
Canada’s tax-and-transfer system, which relies on taxing income and providing Employment Insurance and other benefits, isn’t reducing inequality as much as it did before the mid-‘90s. Specifically, despite increases in worker productivity, average real wages have stagnated while corporate profits have skyrocketed. This inequality manifests through middle-class household debt and significant personal savings of CEOs.
Tags: economy, ideology, participation, standard of living, tax
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Doug Ford’s government raising minimum wage to $16.55 in October
Friday, March 31st, 2023
The $1.05 hourly hike means someone earning minimum wage and working full-time would see an annual raise of about $2,200. It also vaults Ontario to the highest minimum wage in Canada… the change should help about 942,400 workers in Ontario — most of whom are women. The 6.8 per cent rise is because minimum wage increases are now tied to the rate of inflation and must be disclosed by the end of the fiscal year.
Tags: economy, jurisdiction, participation, standard of living
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… Canada’s 2023 federal budget moves on climate and dental – but avoids almost everything else
Wednesday, March 29th, 2023
… the budget drops the ball on support for underfunded public transit systems, affordable housing, pharmacare and high inflation. [but] “When it comes to health care, the piece of this budget with the most teeth is dental care… It seems like the federal government decided that it had to choose between dental care or pharmacare, but not both—and dental care came out the winner.
Tags: budget, economy, featured, Health, standard of living
Posted in Policy Context | 1 Comment »
Better for Workers, Better for All? Assessing a Portable Health Benefits Plan in Ontario
Friday, March 3rd, 2023
Millions of workers in Ontario have no access to supplemental health and dental benefits that reimburse most costs for prescription drugs, dental, vision and mental health services… One solution is a portable health benefits (PHB) plan that allows a worker to maintain coverage while moving from job to job… This commentary explores the purpose, structure and feasibility of a portable health and dental benefits plan in Ontario.
Tags: economy, Health, ideology, jurisdiction, participation, pharmaceutical
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Does Canada’s Sustainable Jobs Plan deliver on the promise of a just transition?
Friday, March 3rd, 2023
In 2021, the CCPA published Roadmap to a Canadian Just Transition Act, which laid out five guiding principles for an ambitious and effective just transition agenda in Canada. Those points serve as a useful benchmark for the Sustainable Jobs Plan… In the meantime, the federal government will need to focus on getting money out the door to the various training programs that it has promised to fund.
Tags: budget, globalization, Indigenous, jurisdiction, participation
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Canada needs a minimum tax on corporate book profits
Thursday, March 2nd, 2023
In 2021, tax avoidance by 123 of Canada’s largest corporations cost the public $30 billion… Corporate tax avoidance nearly doubled in 2021, compared to the pre-pandemic average. More robust policies are needed… A minimum tax on book profits is the major revenue generator within the Biden administration’s Inflation Reduction Act… If Canada had a 15-per-cent minimum tax on book profits in 2021, it would have reduced the tax gap by $11 billion.
Tags: budget, featured, standard of living, tax
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Affordability — not inflation — is the biggest crisis Canada’s economy faces today
Wednesday, March 1st, 2023
Five fiscal approaches… could lower costs, tackle long-term affordability and create more economic resilience… Reform Employment Insurance… Build more affordable rental housing… Fund school food programs… Focus on low-income households for energy-efficiency retrofits… [and] Avoid wasting money in health care… All governments need to prevent the galloping profitization of care…
Tags: economy, featured, Health, housing, immigration, Indigenous, standard of living
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