NDP Leader Avi Lewis statement on spring economic statement

Avi Lewis issued the following reaction to the Liberal’s spring economic statement:

“Today’s spring economic statement fails to meet the moment at a time when Canadians are getting crushed by the rising cost of everything.

While it was sold by the government as a plan to address affordability, the update contains virtually no new measures to bring down the cost of living — it tinkers around the edges and re-announces existing initiatives. Meanwhile, there’s not a single new measure to bring in new revenue by taxing excessive corporate profits.

Rather than asking the biggest corporations to pay their fair share, it throws public money at them in the hope that the market will solve our problems in housing, in infrastructure and the cost of living.

This is exactly what the Prime Minister’s Sovereign Wealth Fund does. It’s a mirror image of Norway’s successful model: Norway invests revenue from its public oil company into its fund for the public’s benefit. Prime Minister Carney’s approach is to seed the fund with public money to subsidize big private projects.

In other words, Norway uses industry profits to support the public good. Prime Minister Carney’s fund uses public money to support private profits.

Here’s what an economic update that puts people first should have included:

• A ban on surveillance pricing, where big tech and grocery chains are teaming up to jack up the prices you pay. It should be illegal to use your personal data to make you pay more for food, clothes and other essentials.
• A windfall profits tax on big oil and gas companies, that are raking in $90 billion in profits this year while gouging us at the pump. We should be taxing their excess profits, fuelled by Trump’s illegal war in Iran, and using it to fill a Sovereign Wealth Fund that benefits all Canadians.
• Funding to expand pharmacare from coast to coast to coast. The Liberal government is walking away from its commitment to deliver national pharmacare. This is unacceptable, every Canadian should benefit from agreements like those that NDP governments in Manitoba and BC have negotiated.

This update is yet another missed opportunity. As a constructive opposition focused on real solutions, the NDP will continue to hold this government accountable while proposing ideas that will make life more affordable for millions of Canadians.”