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  • Ontario's middle and working class families are losing ground August 15, 2017
    Ontario is becoming more polarized as middle and working class families see their share of the income pie shrinking while upper middle and rich families take home even more. New research from CCPA-Ontario Senior Economist Sheila Block reveals a staggering divide between two labour markets in the province: the top half of families continue to pile […]
    Canadian Centre for Policy Alternatives
  • Join us in October for the CCPA-BC fundraising gala, featuring Senator Murray Sinclair August 14, 2017
    We are incredibly honoured to announce that Senator Murray Sinclair will address our 2017 Annual Gala as keynote speaker, on Thursday, October 19 in Vancouver. Tickets are now on sale. Will you join us? Senator Sinclair has served as chair of the Truth and Reconciliation Commission (TRC), was the first Indigenous judge appointed in Manitoba, […]
    Canadian Centre for Policy Alternatives
  • How to make NAFTA sustainable, equitable July 19, 2017
    Global Affairs Canada is consulting Canadians on their priorities for, and concerns about, the planned renegotiation of the North American Free Trade Agreement (NAFTA). In CCPA’s submission to this process, Scott Sinclair, Stuart Trew and Hadrian Mertins-Kirkwood point out how NAFTA has failed to live up to its promise with respect to job and productivity […]
    Canadian Centre for Policy Alternatives
  • What’s next for BC? July 4, 2017
    Five weeks ago the CCPA-BC began a letter to our supporters with this statement: “What an interesting and exciting moment in BC politics! For a bunch of policy nerds like us at the CCPA, it doesn’t get much better than this.” At the time, we were writing about the just-announced agreement between the BC NDP […]
    Canadian Centre for Policy Alternatives
  • Could skyrocketing private sector debt spell economic crisis? June 21, 2017
    Our latest report finds that Canada is racking up private sector debt faster than any other advanced economy in the world, putting the country at risk of serious economic consequences. The report, Addicted to Debt, reveals that Canada has added $1 trillion in private sector debt over the past five years, with the corporate sector […]
    Canadian Centre for Policy Alternatives
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The Progressive Economics Forum

Making Real Change Happen

Today’s throne speech was notable for its brevity, but there were certainly a lot of priorities packed into those 1600 words. A small selection:

  1. “The Government will, as an immediate priority, deliver a tax cut for the middle class.” This is quite easily my least favourite action promised by the new Liberal government. The plan increases the marginal tax rate on high income earners, and gives it back on earned income between $45K – $89K. Thanks to the magic of marginal tax rates, this means you only get the maximum $670 if you earn more than 89K. Combine that with median incomes in the $30K range, and you can see that this does very little for middle income earners. The NDP have proposed changes that would reach more Canadians, which I hope the government takes seriously.
  2. “The Government has also committed to provide more direct help to those who need it by giving less to those who do not. The new Canada Child Benefit will do just that.” This change will make a real difference for low income families with children. 5 thumbs up.
  3. “To give Canadians a more secure retirement, the Government will work with the provinces and territories to enhance the Canada Pension Plan.” This will be huge for the 11 million workers in Canada who don’t have a workplace pension plan, particularly young workers.
  4. “The Employment Insurance system will be strengthened to make sure that it best serves both the Canadian economy and all Canadians who need it.” This is one social program that is particularly close to my heart, and I am cautiously optimistic that this will bring positive change to a key pillar of our badly frayed social safety net.
  5. “The Government will undertake these and other initiatives while pursuing a fiscal plan that is responsible, transparent and suited to challenging economic times.” So this is pretty vague, but I think we need to look at what wasn’t said. There is no mention of returning to balance in 2019 (hallelujah!), and not even any mention of debt-to-GDP targets. In conjunction with public statements by Bill Morneau, let’s hope this means that the new government is comfortable with a probable $15B – $20B deficit for FY2016/17. In the face of today’s job numbers, it looks like we’ll be needing that lift.

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Comments

Comment from Andrew
Time: December 9, 2015, 8:36 am

hate to see the ndp embrace tax cuts at a time when we need to expand services. Especially if they still want to balance the budget.

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