Showing posts with label budget. Show all posts
Showing posts with label budget. Show all posts

Friday, January 30, 2009

What does the Federa Budget 2009 mean? Initial Report Card and analysis

Budget stimulus too timid, tax cuts ineffective

Another Point of View: Harper/Flaherty Budget: Stimulus Too Timid, Tax Cuts Ineffective
Little for jobless, families, elder care or students

Instead, the new budget confirms that equalization improvements already announced will be limited to the growth rate of the economy, meaning that struggling provinces will receive $7 billion less from the federal government than they had been counting on over the next two years. The budget also contained next to nothing to help the unemployed, families struggling with the rising costs of child care and elder care, students with rising debt loads, and seniors struggling with reduced retirement savings.

“Extending Employment Insurance (EI) benefits by five weeks is not nearly enough to help unemployed Canadians,” Clancy says.

“Improving access to EI and increasing benefits would have been far more helpful when it comes to putting money in the hands of those who need it most. But the budget does nothing to address our flawed system, where only 40% of workers qualify for what are now poverty-level benefits."

“Most Canadians were expecting new investments in our social infrastructure but this budget invests nothing in child care, elder care, mental health, post-secondary education or community-based social services,” he adds.

"Furthermore, the budget does nothing t
o improve public pensions for seniors and nothing to shore up workplace pension plans.”

Thursday, January 29, 2009

Canadians deserve better

James Laxer: The Liberals and the Road Not Taken

The Harper-Flaherty budget doesn’t do the job. New spending of about $6
billion this year and again next year, will create about 60,000 jobs.
It won’t make a dent in the rising tide of new joblessness that is
forecast to engulf Canadian communities from coast to coast. The layoff
notices are going out every day. The descent of our economy into
deflation is proceeding. Within a few months, the utter inadequacy of
the government’s policy will be evident to millions of Canadians.

More about the budget removal of funding for medical research in Canada

Hell, Upside Down: So Liberals Don't Support Stem Cell Research Eh?

While the Toronto Star regurgitates Liberal marketing saying "Liberals Put Tories on Probation" the headline in the Globe and Mail
today would indicate that the Liberals are either not watching Harper
closely enough or they agree with his anti-science idealogy. If not why
didn't they include funding stem cell research in their amendments:

...
The news spread like a virus through the research community yesterday
as the country's top scientists wondered whether the oversight was a
mistake. Genome Canada supports 33 major research projects in areas
such as genomics, agriculture and cancer stem cells with operating
grants of $10-million a year. The projects employ more than 2,000
people. By comparison, medical research grants from the federally
funded Canadian Institutes of Health Research run in the
$100,000-a-year range.

It also remains unclear how the budget
will affect the funding abilities of Ottawa's three government
research-granting agencies, including the CIHR.

Harper's budget removes medical research funding, thousands of jobs at risk

Peace, order and good government, eh?: Watching them "like hawks"

For the first time in nine years, Genome Canada, a
non-profit non-governmental funding organization, was not mentioned in
the federal budget and saw its annual cash injection from Ottawa -
$140-million last year - disappear.



Putting thousands of jobs at risk doesn't sound like good stimulus. And
pulling the rug out from under "some of the most promising medical
research" doesn't sound like policy calculated to make Canada stronger
coming out of the recession than it was going in.

Wednesday, January 28, 2009

No We Can't

Montreal Simon: Ignatieff and the Coalition that Won't Die

Michael Ignatieff had a chance to do the right thing, and stand up for the rights of poor Canadians, women, and children.

But instead he sold us all out. He'll blow Stephen Harper and "swallow hard" for the price of a meaningless amendment
...

He didn't even have the
guts or the decency to ask for changes to Employment Insurance, so many
more Canadians could be eligible for benefits, instead of being driven
into poverty and misery.
Now there are two Conservative Parties in Canada: Harper's LibCons, and Ignatieff's ConLibs.



Jack Layton is now the real leader of the Opposition

James Laxer: Jack Layton Is Now The Real Leader of the Opposition: Ignatieff Plays Hamlet
Meanwhile, Jack Layton has become the real leader of the opposition. He showed courage when he reached out to the Liberals to form a progressive coalition that could provide Canadians with the leadership they need to cope with the economic crisis. He tried the option of working with the Liberals. Michael Ignatieff has walked away from that option. Layton has retained his integrity and his clear understanding of what the country needs. Progressives now have one party and one party only available to them: the NDP.

Tuesday, January 27, 2009

Feb Budget 2009: Billoins in new housing spending, but not for those who need it most.

Wellesley Institute | Fed budget 2009: Billions in new housing spending, but not for those who need it the most < read the whole post!
LESS HELP FOR THOSE THAT NEED IT THE MOST: The driveways and decks tax credit is up to three times bigger than the entire investment set aside for lower-income Canadians who are suffering the most. An even bigger concern – virtually the entire $2 billion in affordable housing investments will have to be cost-shared with the provinces and territories following negotiations.

Why the Coalition should topple the Cons

Montreal Simon: Why the Coalition Should Topple the Cons < read the whole post.
It spews money in every direction to try to buy votes. It depends too much on shared funding from cash-strapped municipalities, its tax cuts are peanuts that will cost us dearly later on. It does almost nothing to encourage a greener economy. And it continues this foul Con government's war on Canadian women, with nothing for childcare spaces, and an assault on pay equity.

But its most catastrophic
omission is that it it fails to adequately reform the Employment
Insurance system and prepare it to cope with the enormous tide of human
misery that could be coming its way. Because as I pointed out yesterday
EI in Canada these days is completely inadequate.


Cuts
in the early 1990s mean barely half of the country's unemployed today –
and fewer than a quarter in Toronto – are eligible for benefits. Those
lucky enough to qualify often get far less than poverty-level incomes.
And for almost everyone scrambling to find work as the economy
crumbles, benefits run out too soon.


And
if more people don't become eligible, and benefits are increased,
millions of Canadians could be forced into lives of grinding poverty,
welfare rolls could swell, and our whole safety net could collapse.

















But its most catastrophic omission is that it it fails to adequately reform the Employment Insurance system and prepare it to cope with the enormous tide of human misery that could be coming its way. Because as I pointed out yesterday EI in Canada these days is completely inadequate.

Cuts in the early 1990s mean barely half of the country's unemployed today – and fewer than a quarter in Toronto – are eligible for benefits. Those lucky enough to qualify often get far less than poverty-level incomes. And for almost everyone scrambling to find work as the economy crumbles, benefits run out too soon.

And if more people don't become eligible, and benefits are increased, millions of Canadians could be forced into lives of grinding poverty, welfare rolls could swell, and our whole safety net could collapse.

This budget won't lead Canada out of a recession...

James Laxer: This Budget Won’t Lead Canada Out of Recession: Ignatieff Should Defeat It
Depending on how you interpret the budget, the government is committing itself to direct new spending of about $10 billion to $12 billion, on infrastructure and housing, over the next two years. Some of this depends on matching provincial and municipal funds, which may never materialize. Much of it depends on how much the government actually spends, a crucial matter since the Harper government has left most of the previous infrastructure money it promised in earlier budgets unspent. At most, the new direct spending by the government amounts to about $6 billion a year.

These numbers may sound big. In fact, they are puny. The Canadian Gross Domestic Product totals about $1.5 trillion a year. Six billion dollars a year amounts to just over one half of one per cent of our country’s GDP. Economic announcements and forecasts tell us that Canada is on track to lose hundreds of thousands of jobs over the next six months. The Conservative government’s planned spending would create, at most, about sixty thousand short-term jobs.

The various tax measures in the budget will be equally ineffectual in stimulating the economy.

Is a government elected based on deception legitimate?

Danielle Takacs: Galloping Around the Golden Horseshoe: Is a Government Elected Based on Deception Legitimate? < read me for the whole post.

Excerpts:
I’ve seen a lot of talk about how a Liberal-NDP coalition would lack legitimacy in the eyes of the public, but I think an honest look of the whole picture should ask as well is what kind of legitimacy does Stephen Harper have? In the real world if you applied for a job based on a falsified resume and the people that hired you found this out, you’d be fired in an instant. And the company probably wouldn’t start a whole new job search, they’d probably go to their next choice of applicant and ask if he/she was still available to take on the job.
While politics isn’t the business world, since Stephen Harper used the
CEO metaphor in a very stretched attempt to frame the Liberal platform
as irresponsible (he said if Stéphane Dion were a CEO he would be fired
for his platform), I’d like to run with it for a minute to lay the
stage for the context we face this week in Parliament. Let’s say
Stephen Harper was made CEO of a major Canadian company in January of
2006 but at least in theory remained accountable to a board of
directors (MPs) and occasionally shareholders (the electorate). So he
starts off making some bizarre and costly decisions that sap up a good
portion of the company’s revenue arguing that “target markets” will
love it and that profits (surplus) remain high anyways so there’s no
reason for the board to worry. Besides Harper says “who needs profits,
that just means we are over-charging consumers”. And so this continues
for a couple years and while many on the board grumbled that he was
driving the company into a ditch as profits were finally starting to
steadily decline in 2008, they were comforted that he would face a
review by shareholders. When the shareholder review came Harper spends
most of his presentation railing against his main competitor to replace
him as CEO arguing that he’s proposing all sorts of crazy schemes and
that while the other guy would ruin the company, Harper would bring
large profits and continued success. So Harper wins the review and
carries on. However, his first major act following the review is to
propose to cut the salaries of all the majority of board members that
he deemed disloyal. The majority of the board finally revolts but then
Harper cancels all board meetings for 7 weeks and vows to come back
with a real plan this time to rescue the company and at that time the
board can vote on whether he gets to continue as CEO. Right after he
cancels the board meeting Harper pronounces that the profits he said
the company was going to have won’t pan out after all, instead the
company is billions in the red, but he hopes the board can forgive that
oversight because “no one could see it coming” (despite the many
warnings Harper received BEFORE his review). So in that situation what
should the board do when they have their vote of confidence?

...
But I do believe we’ve once again seen a cover-up of the deficit by
some of the same people that did it in Ontario and we can’t let that
slide easily. My honest belief is that Stephen Harper went into the
election knowing the books were a mess and hoped he would get a
majority so that the public would never find out and he could just
cover it up like the Ontario PC’s did. He had access to civil service
forecasts none of the oppositions parties did, I’m sure he knew more
than he let on. Yet he portrayed an image that the Canadian economy and
government finances were in sound shape when literally days after the
election he was singing the opposite tune. For that I feel this was a
government elected based on deception and since Harper wasn’t given the
majority he wanted, it’s the duty of the majority of the House of
Commons to hold him to account.
It’s the duty of Stephen Harper to do
everything he can to ensure he enjoys the confidence of a majority of
MPs the public elected and so far he’s done the opposite of what’s
necessary to do that.