OTTAWA, March 29, 2012 /CNW/ - All Canadians will pay the price for a
federal budget that will result in significant job losses, weaker
environmental protection, and unnecessary cuts to cherished public
services, says the Canadian Centre for Policy Alternatives.
The CCPA says once the government's three rounds of spending cuts are
fully implemented, they will have resulted in a total of over 70,000
full-time job cuts (35,000 in the public sector and 37,000 in the
private sector) and could raise the unemployment rate to 7.8%.
"This may be a 2012 budget but it's got the 1930s written all over it,"
says CCPA Senior Economist David Macdonald. "Federal austerity,
combined with provincial austerity budgets, will create a fiscal drag
on Canada's economy.
"We are dismantling public programs and peeling back income supports
such as Old Age Security without asking profitable corporations and the
wealthy among us to do their part. We saw a similar story unfold in the
1930s and it didn't end well. History is repeating itself."
"After six Harper budgets, the corporate share of federal revenue has
fallen to 1930s levels, millionaires are paying taxes at rates last
seen in the 1920s, and the top 1% are capturing more of the gains from
growth than at any time in history," says CCPA Senior Economist Armine
"This budget fails to address the pressures of a middle class losing
ground and young people struggling to find work," says Yalnizyan. "It
takes us backward in terms of retirement and environmental protection.
With the exception of education and water needs for First Nations, it
ignores the need to repair our aging infrastructure. The books will be
balanced, but we'll all pay the price."
The CCPA is also critical of the lack of transparency within the budget,
saying many planned job and service cuts weren't spelled out today.
"Budgets are about making clear your plans to Canadians but, on many
fronts, what this government tabled today was a hide-and-seek budget,"
says Macdonald. "This budget raises more questions than it answers. You
can't get rid of the deficit this quickly without inflicting a lot of
pain on Canadians. Whether it's a hatchet job or death by a thousand
tiny cuts, Canadians will pay a steep price—one this government could
SOURCE Canadian Centre for Policy Alternatives
For further information:
Kerri-Anne Finn, CCPA Senior Communications Officer, at 613-563-1341 x306