Posts Tagged ‘economy’

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Budget outlook: $5 billion in annual tax cuts weaken Ontario’s case for federal dollars

Thursday, January 20th, 2022

“In the months ahead, we can expect Premier Ford to ramp up his calls for more federal funding, especially for health care. He is not strengthening his case by giving away $5 billion each year.” … A better approach would be to chart a course to restore provincial revenues through an ambitious program of progressive taxation

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Israel capped CEO pay for banking execs at $1 million. Its unique experiment could work here, too

Friday, January 14th, 2022

Over the years, the ratio between those who hold the top jobs and regular employees has gone up tremendously. Justifications for this were always based on arguments that CEO pay is set in a competitive market. The reality, however, is different. CEO pay has no equilibrium and continues to ratchet up endlessly… For too long we’ve been brainwashed by free-market myths about CEO pay. The natural experiment in Israel has refuted them.

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After decades of delay, national child-care plan proves an ambitious social agenda is possible

Thursday, January 13th, 2022

… now that it’s clear a national child-care system is politically viable, it will be up to the Trudeau government to ensure that the one it’s started to build is strong — and public. The success of Scandinavian-style child care stems from the fact that it is a truly public system — like our school system — with no place for private profit-making, which leads to cutting corners on staff and resources.

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Riches for top CEOs come at a cost to everyone else

Friday, January 7th, 2022

the federal government should review rules on how much executive compensation companies can deduct (the United States already caps it at $1 million per employee), capital gains and stock options, as well as instituting a wealth tax for the richest Canadians. “Higher taxation levels can reduce inequality and help to refill government coffers following the impact of the pandemic,” the report says.

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Ottawa releases early details of landmark $40B First Nations child welfare agreement

Wednesday, January 5th, 2022

The non-binding agreement sets aside $20 billion for compensation and $20 billion for long-term reform of the on-reserve child welfare system…  The parties have until March 31 to finalize the agreement… The $20 billion dedicated to long-term reform of the child welfare system will be distributed over a period of five years… “Today is about a plan for the future, with First Nations defining and determining a path forward grounded in our rights and the common goal to have our children succeed,”

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Canada’s top CEOs saw average pay increase of almost $100k in 2020

Tuesday, January 4th, 2022

“… when the economy does poorly, it’s often just the low-wage workers that suffer, it’s not the CEOs… and that was really highlighted by the pandemic and the data for 2020”… the report found that among the richest 100 CEOs, 30 headed companies that received the Canada Emergency Wage Subsidy (CEWS), 14 saw the structure of their bonuses changed in order to protect them from the impact of COVID-19 and five experienced both.

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Is there a made-in-Canada solution to high inflation?

Saturday, January 1st, 2022

Inflation and the pandemic have a lot in common: both attack household incomes, both hit low-income households hardest, and both demand government action to support incomes. Social assistance rates must rise, as they should have years ago. Minimum wages must rise. Federal transfers to low-income Canadians should increase. Painful 20th century policy prescriptions to cut inflation by squeezing the life out of the economy, through increasing interest rates and reducing government supports, are no answer to our 21st century problems. They will only make our problems worse.

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What football tells us about the future of workers

Wednesday, December 29th, 2021

The Care Economy is huge and growing. We all rely on it at different points in our lives. There is a labour crisis in this sector, and it is a gendered crisis. And nobody’s talking about it.  We’ve been hearing about these shortages, on and off, since the 1990s, and still don’t have a national strategy for human resources in health care.

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With child-care program Trudeau finds a model for influencing provincial policy

Saturday, December 18th, 2021

… the success of Trudeau’s child-care program has given the federal government a means to mould provincial policy from Ottawa and he said it’s one he could use again… The agreements vary fairly drastically from province to province — a strategy that allows the federal government to push its agenda while maintaining the autonomy and regional differences of its provincial counterparts. Essentially, the government put the money on the table and invited provinces to come and negotiate for their slice.

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Taming inflation can be worse than inflation

Friday, December 17th, 2021

While Canadian inflation is running at 4.7 per cent, Canadian wages are also rising. For some of the most disadvantaged workers (new hires), average wages are growing at the impressive rate of 10 per cent a year — putting them well ahead of inflation… And this booming labour market may get better yet, as contracts expire and new ones are negotiated at a time when workers are wielding more power than they have in decades.

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