Posts Tagged ‘economy’

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Ford government should dump old-school thinking on minimum wage

Wednesday, October 13th, 2021

In awarding Canadian economist David Card the Nobel Prize in economics, the Royal Swedish Academy of Sciences has given a huge boost to the value of empirical study in the field of labour economics. For it was Card, working alongside American economist Alan Krueger, who put real world wage increases in New Jersey under the microscope and found no support for the theory that a rise in the minimum wage reduced employment.

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Countries reach agreement on corporate tax

Saturday, October 9th, 2021

More than 130 countries have agreed on sweeping changes to how big global companies are taxed, including a 15 per cent minimum corporate rate designed to deter multinationals from stashing profits in low-tax countries… The OECD said that the minimum tax would reap some $150 billion (U.S.) for governments… it would end a “race to the bottom” in which countries outbid each other with lower tax rates.

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Has the pandemic really changed Doug Ford? A decent child-care deal would be a start in proving it

Saturday, October 9th, 2021

The federal government’s goals are all simple and positive for Ontario families and the child-care sector: Lower parent fees, at first by 50 per cent and then to an average of $10 per day. / Improve child-care workers’ wages. / Expand public and non-profit spaces… These objectives are all reasonable, at least to anyone not clouded by partisanship.

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Ontario’s 10-cent hike in the minimum wage is bad for workers, bad for businesses and bad for the economy

Wednesday, October 6th, 2021

Some minimum wage workers work full-time and full year, but most work part-time. At 20 hours a week, a typical minimum wage worker would be earning $29 more a week if the minimum wage was 60 per cent of the average wage. Instead, on Friday, the government of Ontario legislated $2 more a week for them. That’s bad for workers, bad for businesses and bad for the economy… it isn’t business that creates jobs. It’s customers.

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… how Canada has ‘turned a blind eye’ to cracking down on offshore tax schemes

Tuesday, October 5th, 2021

… as much as $3 billion in tax revenue is lost annually to wealthy Canadians’ use of offshore accounts. Add to that as much as $11.4 billion in lost tax from corporations with offshore subsidiaries, and tax havens cost the Canadian public almost $15 billion each year… Canada has been widely criticized as a tax haven because our provincial governments don’t require residency or even basic identification to register a company… a beneficial ownership registry for all federal corporations… would create a legal registry of the real owners of corporations.

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Canadians voted for big change, whether they knew it or not

Thursday, September 23rd, 2021

“With a majority it would be easier to take it – but at this juncture we needed to ask Canadians, do you want us to proceed or not?”… It may be that talking clearly about “these things” in the fourth wave of a global pandemic is just beyond us all. But that’s not to say we didn’t make a collective call.  Until Sept. 20, the Liberal minority government didn’t really have the mandate to take the country on what might have been a hard-left turn just over a year ago. Now, with the shape of parliament barely changed at all, that mandate emerges.

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‘Don’t mess with moms. Get it done’: 50 prominent Canadian women urge party leaders to prioritize child care

Wednesday, September 15th, 2021

… investing in early childhood education shows that serious investment in high-quality child care will boost economic growth while reducing poverty and drastically improving education levels among young kids. The signatories of the letter say affordability is key… A report from the CCPA recently found that a Toronto family paying full fees for a child in licensed daycare could save $10,000 more per year under the Liberal child-care plan than with the Conservatives’ tax credit… We’re waiting to see how these parties will act in office…

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The key to Canada’s economic recovery is obvious. Why isn’t anyone talking about it?

Monday, September 13th, 2021

The federal budget estimates that a national child care program would add about 240,000 workers to the labour force. And since those workers are already here in Canada with Canadian credentials, integration into the labour force is seamless. An in-depth study of the economic impact of investing in early childhood education… shows that serious investment in high-quality child care boosts economic growth, reduces poverty, enhances equality, and sets the younger generation on a path to take on the world.

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Affordable child care will help women re-enter workforce, stimulating the economy

Monday, September 13th, 2021

By subsidizing child care to women who intend to return to work, the government provides adequate social support to those who need the help the most. Such a policy will eventually help the economy to grow naturally, and will embolden consumers’ confidence to increase spending. As women return to the workforce, their increased income yields greater spending power, boosting demand for normal goods and further stimulating the economy.

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Once COVID is finally tamed, Canada will have to tackle the ‘other pandemic’

Monday, September 13th, 2021

Neither major party is prepared to go where an increasing number of medical and legal experts — from public health officers to those chiefs of police — say they should: taking possession of drugs for personal use out of the Criminal Code entirely. And neither party is particularly eager to talk about the opioid crisis during the election campaign… It should be getting more attention from both politicians and voters.

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