Screenshot of Chrystia Freeland delivering the Fall fiscal update/ CPAC YouTube
The federal government released its long-awaited fiscal update in the House of Commons on Monday. Deputy Prime Minister and Finance Minister Chrystia Freeland announced a $100 billion stimulus plan to build a “greener, more innovative, more inclusive and more competitive” economy. While details of this stimulus plan won’t come until next years budget, there were other announcements like providing $20 million for the next five years to lay the groundwork for a national child care program.
Monday’s update now puts the federal deficit up to $381.6 billion, up from the $343.2 billion back in July’s update. The report also notes the deficit may go up to $400 billion if the pandemic worsens, leading to more restrictions.
However, London-Fanshawe NDP MP Lindsay Mathyssen was one of those who felt disappointed and says that people are struggling.
“There are people in Canada, who are making a record profit of billions and billions of dollars,” Mathyssen said. “Then there are folks who are just desperate to get by.”
The New Democratic Party (NDP) has been pushing for a wealth tax or a one per cent tax for those making $20 million or more, which didn’t get mentioned. The Conservative party is also pushing for the federal government to have a detailed vaccine plan. When asked how these tax increases for corporations would help out, Mathyssen lays out a few programs that could help out the economy long-term.
“It would go towards those longer programmes, something like a guaranteed basic income,” Mathyssen stated. “We also want to introduce pharmacare. We know that the National pharmacare program at a time where people have lost their job and there benefits could help so many. We know that that would also save our economy, our health care system, $4.2 billion.”
Here is @LMathys' question to the gov on @JustinTrudeau's refusal to keep his promise to students after supporting @HMcPhersonMP's motion last week: #cdnpoli pic.twitter.com/4oMnpvRJTX
— Anthony Salloum (He/Him) (@vasalloum) December 1, 2020
When asked how she felt about the liberals laying the groundwork for a national child care program, she claims that the Liberals have been talking about providing childcare since 1993 and is sceptical about what they have in store.
“They have put more money into it. The industry was asking for 2 billion. Those are stakeholders. Those are experts in their field that know that we need the 2 billion to accomplish something that’s meaningful, and that would actually change things,” Mathyssen says. “There are long term implications that that could be so beneficial to our economy. Not just children receiving the childcare. But for women, being able to re-enter the workforce, women have been the hardest hit during this pandemic.”
Bloc Québécois Leader Yves-François Blanchet said the lack of detail in the stimulus plan could set the stage for a spring election. When asked the possibility of a spring election next year, Mathyssen says that there is a possibility, but it wouldn’t be safe due to the ongoing rise in COVID-19 cases.
“People during a crisis, they want that stability. But it’s not safe. the numbers are rising. In London alone, the numbers have risen, and it’s a scary time for people,” Mathyssen stated. “In addition, an election cost about $500 million on average now. So I think that the money could go elsewhere.”
Remember back in early October, it was the NDP party to not trigger a fall election voting in support for the liberal government. Mathyssen says that while she isn’t going to say they won’t or will support, she says it will all depend.
“It depends upon where we’re at in terms of acts of a vaccine and the distribution of that vaccine. There’s a lot of pressure on the government now because we see other countries, like the UK, will be beginning in a couple of weeks to distribute that vaccine. So there’s a lot of pressure on the Canadian government to catch up,” Mathyssen said. “We do have things that we are trying to accomplish. Ultimately our goal is to ensure that people have what they need to not just survive, but to thrive and to prosper.”
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