Canada Announces MASSIVE Ambitious Budget With New Benefits + Investmets

[Just A Holy Fool 2,656]

Sugar Daddy Trudeau keeps it coming... 

But where is the Universal Basic Income? Where is the Pharmacare plan? 

[Economy 52,837]

11 minutes ago, Just A Holy Fool said:

Sugar Daddy Trudeau keeps it coming... 

But where is the Universal Basic Income? Where is the Pharmacare plan? 

They are already spending a fortune on this stuff with deficits. Money doesnt grow on trees

[Eido 3,681]

On 4/19/2021 at 11:17 PM, Economy said:

https://www.bnnbloomberg.ca/ (individual articles detail different things so this is generalized link)

 

Canada went hard and went big in the new budget and implemented a course for many new investments. The biggest highlights:

 

- $10/day Child Care to help encourage parents particularly women back into workforce (will take a few years to fully implement)

- extended wage subsities and grants to help moat affected businesses during pandemic rebuild

- More funding for green innitiatiatives and infrastructure

- Unemployment Benefits (EI) Permanently enhanced to a minimum 420 hours worked to qualify for benefits and minimum 14 weeks of benefits (it can still go higher as you work more hours and as unemployment fluctuates)

- National $15/h Minimum Wage (most Provinces currently have it somewhere between $12.50/h to $14/h)

Ok so I just read the wage part of the budget... The 15$/h minimum wage are for federal jobs only : banks,transports, administrations  I guess I am back at being poor lol 

[ShayCristoforo 10,607]

We won 

[Economy 52,837]

Just now, Eido said:

Ok so I just read the wage part of the budget... The 15$/h minimum wage are for federal jobs only : banks,transports, administrations  I guess I am back at being poor lol 

Rip. I thought it was general minimum wage the way it was written

[Eido 3,681]

4 minutes ago, Economy said:

Rip. I thought it was general minimum wage the way it was written

I thought so too but then I realized that it was weird. No companies were complaining about paying more their employees 

[Economy 52,837]

2 minutes ago, Eido said:

I thought so too but then I realized that it was weird. No companies were complaining about paying more their employees 

Tbh maybe better that way tho...

 

Higher minimum wages in higher cost of living areas like Ontario, BC, Alberta and Quebec might make sense

 

But $15/h seems too high to me for some Provinces like New Foundland, Nove Scotia, New Bruinswick etc

 

I find Canadas economy and productivity as well as cost of loving vary too much by area to try and make a standard the same everywhere

 

Its also why i wonder how well some calls for a much higher minimum Nationally might work in the US... a small town in Kansas or Tenasee has a totally different economy or cost structure than say LA, San Francisco or NYC

 

If u wanna make Federal rules on minimum wage i wonder if a formula that factors in average cost of living and average wages that Provinces and States must follow might work better

[Better Day 5,766]

At least Canada is looking after its people 

[Just A Holy Fool 2,656]

2 hours ago, Economy said:

They are already spending a fortune on this stuff with deficits. Money doesnt grow on trees

According to the Trudeau government it does... my point is if they are already spending this amount of money, the money required for these policies wouldn't be that much relatively. I mean they've already shipped billions out the door to companies with the wage subsidy that didn't need it. I.e. Bell having a record year in terms of profits, claims the wage subsidy, then lays off a bunch of their workforce. If the government spent smarter, they could afford these supports needed for the country. 

 

Not to mention, there are tax changes that could be implemented to fund this (wealth tax, GST hike, etc). Make the extremely well off in this society pay more. 

[Economy 52,837]

1 hour ago, Just A Holy Fool said:

According to the Trudeau government it does... my point is if they are already spending this amount of money, the money required for these policies wouldn't be that much relatively. I mean they've already shipped billions out the door to companies with the wage subsidy that didn't need it. I.e. Bell having a record year in terms of profits, claims the wage subsidy, then lays off a bunch of their workforce. If the government spent smarter, they could afford these supports needed for the country. 

 

Not to mention, there are tax changes that could be implemented to fund this (wealth tax, GST hike, etc). Make the extremely well off in this society pay more. 

Were taking a pretty significant shortfall here to add even more. Its not GST tax hikes that are gonna fill that hole. And wage subsities are a pandemic thing, the increase in overall spending doesnt factor that in

 

If u wanna make the ultra rich pay more in a way that doesnt ripple thru to everyone else that much the best way is probably to tax capital gains much higher... 

 

But even so... we have an ageing population which means more retirees collecting onstead of paying taxes as years ago by, more healthcare costs, plus these investments they already announced

 

Im not against any of these things in themselves, but we need a proper plan to figure out what we can afford and cant before adding even more stuff.

 

We dont need a repeat of the unsustainable 1970s and 1980s spending that obviously was popular at the time but ended up in rather unpleasent severe cuts in the 1990s when debt became critically hard to manage