Jagmeet Singh Lays Out Economic Vision to Help Young People and Families

Singh delivers message on tax fairness and wealth inequality at Canadian Club

TORONTO – Jagmeet Singh delivered a message on his economic vision to a lunchtime audience in Toronto today that if New Democrats are elected, people at the top will have to pay a little more.

“We are not going to shy away from speaking up for everyday people – and standing up to the wealthy and well-connected,” said Singh. “The stakes are high. If we do not change the path we are on, we are putting the very idea of Canada – that everyone should get the help they need to have an equal chance to succeed - at risk.”

In his speech before the 120-year-old Canadian Club, Singh made the case that despite the economy doing well over the past four years, families – and young people in particular – are struggling to pay their bills each month.

Meanwhile, two Canadian men now have as much wealth as the bottom 30% of all Canadians combined. Over the last few decades, the tax burden in Canada has fallen more and more onto families - while big corporations and super-wealthy Canadians pay less.

Earlier this week, Jagmeet Singh and the NDP laid out an election commitment to bring in a 1% super-wealth tax on households with a net wealth of more than $20 million. The Parliamentary Budget Office has estimated that this measure could bring in $70 billion in new revenue.

“Young people are struggling to pay sky-high bills for rent, tuition, student loans, cell phones and so much more. It’s time we fixed a system that is rigged against them,” said Singh. "We believe middle- and low-income Canadians are paying their fair share. We will not raise taxes on everyday people. But we will ask big corporations and the super-wealthy to pay a little more so we can help young people and families."