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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

The 2016 Federal Budget

Here is a link to the Broadbent Institute pre Budget Submission, trying to push the Liberal platform in a more progressive and social democratic direction.

http://www.broadbentinstitute.ca/budget_2016_charting_progressive_agenda

 

Enjoy and share:

Comments

Comment from Herb Wiseman
Time: February 8, 2016, 1:00 pm

There is no discussion in this article virtually about the third highest budget expenditure in the budget — namely the debt service charges line or interest on the debt. There is talk about inequality and poverty but the huge size of the interest payments precludes much being done to bring about or increase other progressive measures. That is not to say that the country should enter into an austerity programme to pay down the debt but rather to consider other alternatives including the Bank of Canada holding a greater portion of the debt if not all of it. In practice the huge interest payments ($25.7 billion) in the current budget are a transfer of tax dollars to well-off people and that has both the effect of increasing inequality and shifting more money to the financial sector from the productive sector.

Comment from Larry Kazdan
Time: February 15, 2016, 7:48 pm

And further to Herb’s point, why does the Broadbent Insititute not challenge the conservative fiscal policy anchors such as debt-to-GDP ratios intended to restrain government spending but which have no real justification:

William Mitchell is a Professor in Economics and Director of the Centre of Full Employment and Equity (CofFEE),
at the University of Newcastle, NSW, Australia
http://bilbo.economicoutlook.net/blog/?p=30105

“The public debt level relative to GDP is not a matter of economic concern ever if the government in question issues its own currency and only issues debt in that currency.

Under those circumstances the government can always service its nominal liabilities and the public debt ratio is an irrelevant focus of attention.

At any time of its choosing, the government could cease to issue public debt and continue deficit spending at will. It might have to change some regulations and statutes which have been put in place to give the impression that the debt issuance is funding its net spending, but that would be merely legislative activity.

Remember the government just borrows back what it spent in deficit in a previous period. Bond sales draw on private saving which is just a reflection of past deficits.”

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