Keep public interest at the forefront - CUPE

    OTTAWA, Dec. 12 /CNW Telbec/ - Canadian Union of Public Employees (CUPE)
National President Paul Moist is calling on provincial finance ministers to
withstand pressure from Federal Minister Flaherty in adopting his agenda of
cutting corporate taxes, harmonizing the GST, deregulation and privatization
of public services.
    "Canada does not need more corporate tax cuts and deregulation to
strengthen our economy and improve living standards. We need increased direct
investments in infrastructure and public services to strengthen our economy
and to increase economic security for ordinary Canadians," said Moist.
    Provincial finance ministers also need to resist pressure from
Minister Flaherty to join in a regime that would restrict the ability of
democratically elected governments from protecting the public interest in
virtually any area that might affect corporate profits. "A proposed
pan-Canadian agreement such as TILMA will provide no significant proven
economic benefits," added Moist.
    "We are also very concerned about the lack of regulation and enforcement
in the financial industry. Canada's weak regulation of securities and the
financial industry is an international embarrassment," said Moist. Canadians
who have their savings in pension plans need stronger regulation and
enforcement rather than depending on American regulators and courts to do
    Finance Minister Flaherty has failed to make a case that a national
securities regulator would improve this situation. "On the contrary, federal
securities regulation and RCMP efforts have been weaker than provincial
regimes. Minister Flaherty needs to demonstrate that a national securities
regulator would really protect the interests, savings and pensions of
hardworking Canadians," concluded Moist.

For further information:

For further information: Paul Moist, CUPE national president, (613)
558-2873 (cell); Toby Sanger, CUPE chief economist, (613) 720-6955 (cell);

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