Main menu:

History of RPE Thought

Posts by Tag

RSS New from the CCPA

  • Pharmacare consensus principles released today September 24, 2018
    A diverse coalition representing health care providers, non-profit organizations, workers, seniors, patients and academics has come together to issue a statement of consensus principles for the establishment of National Pharmacare in Canada. Our coalition believes that National Pharmacare should be a seamless extension of the existing universal health care system in Canada, which covers medically […]
    Canadian Centre for Policy Alternatives
  • Kate McInturff Fellowship in Gender Justice September 19, 2018
    The CCPA is pleased to announce the creation of the Kate McInturff Fellowship in Gender Justice.This Fellowship is created to honour the legacy of senior researcher Kate McInturff who passed away in July 2018. Kate was a feminist trailblazer in public policy and gender-based research and achieved national acclaim for researching, writing, and producing CCPA’s […]
    Canadian Centre for Policy Alternatives
  • The buck-a-beer challenge Ontario deserves September 6, 2018
    Ricardo Tranjan proposes an alternate plan to Doug Ford's buck-a-beer challenge in the Toronto Star.
    Canadian Centre for Policy Alternatives
  • Growing number of professionals face job insecurity, study finds September 6, 2018
    The Toronto Star's Sara Mojtehedzadeh discusses the findings of the CCPA Ontario's report, No Safe Harbour and gathers firsthand accounts from precariously employed professionals who live and work in Ontario.
    Canadian Centre for Policy Alternatives
  • Our Schools/Our Selves: The view from West Virginia September 4, 2018
    Our latests publication, Lesson Here, digs in to the West Viriginia teachers' strike.  Read the firsthand accounts of the work stoppage here.
    Canadian Centre for Policy Alternatives
Progressive Bloggers

Meta

Recent Blog Posts

Posts by Author

Recent Blog Comments

The Progressive Economics Forum

Budget 2012: Pennywise But Pound Foolish

Marc, Andrew and Toby have posted substantial analyses of yesterday’s federal budget and I have some comments in today’s Hamilton Spectator. My two cents about the budget’s economic forecasts follow.

Table 2.1 envisions a 7.5% unemployment rate this year, slightly above last year’s rate of 7.4%. That seems like an admission of failure from a budget ostensibly about job creation.

This table also projects real GDP growth rates of 2.3% in Canada versus 2.6% in the U.S. over the next five years. The higher American figure may well be realistic given that the U.S. economy is starting to bounce back from a more depressed level than Canada. However, these forecasts further deflate the Conservative talking point about outgrowing our American cousins and the rest of the world.

It’s worth reinforcing Andrew’s parenthetical observation that the budget provides no projection of how much the higher age threshold would reduce future Old Age Security spending. How can the Conservatives know that this change is required for fiscal sustainability without an estimate of how much money it might save? If the government has such an estimate, why not disclose it?

Here is the United Steelworkers press release:

Harper Budget Pennywise, Pound Foolish
Along with Penny, Conservatives Killing Jobs, Retirement Security

OTTAWA, March 29, 2012 – Eliminating the penny won’t distract from the Harper Conservatives’ deep cuts to important public services, jobs and retirement security, the United Steelworkers (USW) union says.

“The Harper government claims it has introduced a jobs budget, but it actually projects a higher unemployment rate this year than last year,” noted Ken Neumann, USW’s National Director for Canada.

“Conservative cuts will directly eliminate 19,200 jobs from the delivery of public services, and remove funding that helps support thousands of private-sector jobs,” Neumann said.

The Conservative budget raises the eligibility age for Old Age Security from 65 to 67 between 2023 and 2029 – even though the Parliamentary Budget Officer and other experts have confirmed that the existing program is fiscally sustainable. “Making Canadians wait longer for Old Age Security will push tens of thousands of seniors into poverty and onto provincial welfare rolls,” said Neumann. “The government should be enhancing the Canada Pension Plan rather than cutting Old Age Security.”

The Conservative budget also sets the stage for further weakening of environmental standards and the Employment Insurance system, which already fails hundreds of thousands of Canadians under the Harper government.

Enjoy and share:

Write a comment





Related articles