Missed-opportunity budget fails workers, pensioners

OTTAWA, June 6, 2011 /CNW/ - "Today's budget should have laid out a plan for job creation instead of job cuts to help the Canadian economy hold its own in the face of a global recession," says Dave Coles, president of the Communications, Energy and Paperworkers Union of Canada.

"This is a missed-opportunity budget that does nothing to strengthen Canada's feeble economy or to help its victims rebuild their lives.

"We need a national strategy that will help rejuvenate ailing industries, such as forestry, through investment in new products and the creation of value-added jobs."

"Hundreds of thousands of workers in forestry and other industries have lost their jobs and seen their pensions crumble, and this was an opportunity for the government to repair some of that damage."

"Instead, there is nothing for workers, and nothing to address the looming national pension crisis," he says. "Yet big corporations that pay their debts on the backs of workers will see a 3% tax rate decrease by next year, with absolutely no requirement to invest in jobs or the recovery."

Coles notes that the private sector is sitting on nearly $500 billion of financial assets that it is not investing.  "They don't need general corporate tax cuts to add to their pile of idle assets.

"Since private business investment remains weak the government should pick up the slack and do the investing in things such as public transportation, environment, etc.

CEP represents 120,000 Canadian workers in several key parts of the economy, including forestry, energy, telecommunications, media and construction, among others.

SOURCE COMMUNICATIONS, ENERGY AND PAPERWORKERS UNION OF CANADA

For further information:

Dave Coles (613) 299-5628

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COMMUNICATIONS, ENERGY AND PAPERWORKERS UNION OF CANADA

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