Candidates speak to the Economy

What should public policy be when it comes to intervening in the economy?

  • Aug. 17, 2015 7:00 p.m.

Paul ManlyGreen

Greens believe you can’t have a healthy economy without a healthy environment. Focusing Canada’s economic development on the exploitation of resources such as fossil fuels is not only bad for the environment but also for the economy. A diversified economy based on development of local businesses will produce more goods, employ more Canadians, and avoid the boom-and-bust swings of rip-and-ship industries.

Canada is now in a recession, and dealing with that requires creative economic thinking, not more of the same failed strategy. The Green Party is committed to paying down the national debt, but not at the expense of public services and programs that serve critical social and environmental needs.

We recognize that small businesses are the true job creators in our economy, not big corporations. The Green Party will support them by establishing a Green Venture Capital Fund to provide money for local green business start-ups.

Greens will improve Canada’s economy by increasing efficiency and eliminating waste.  We will lower taxes on income and payrolls; raise taxes on corporations to the average for OECD countries; recover taxes hidden in off-shore tax havens; and introduce a carbon fee and dividend system that rewards energy efficiency. We will remove the billions in fossil fuel subsidies, and use the money to upgrade our infrastructure – employing the army of carpenters and tradespeople Elizabeth May described – to retrofit buildings and make them more energy-efficient.

Find out more about our comprehensive economic policies at greenparty.ca/vision-green

Mark MacDonaldConservative

Prime Minister Stephen Harper is a proven leader focused on the big issues affecting Canadians: the economy and our country’s security.

Today, the global economy remains uncertain and unstable.  It is only our Prime Minister Stephen Harper, who has demonstrated the proven experience to keep our economy strong and our country safe.  Canada has weathered this economic instability with a plan of low taxes, a balanced budget, economic growth, and benefits provided directly to families. Since the depths of the recession 1.2 million net new jobs have been created: Overwhelmingly full-time, private sector jobs in high-wage industries. All while making record investments in infrastructure, lowering taxes, balancing the budget, and supporting growth in the manufacturing sector.

The Bank of Canada said that over 80% of our economy is growing, and Canada’s non-energy exports are up 10% this year. There is weakness in the energy sector because of the fall in energy prices, but economists continue to predict growth in Canada this year.

The Prime Minister’s balanced outlook towards the private sector and necessary government intervention through Stimulus Funding demonstrated his keen understanding of what to do and when. Despite a period of unprecedented economic instability, since the global financial crisis, Canada has the strongest economic growth, the strongest job creation record and the strongest income growth for the middle class amongst any of the major developed economies.

Now is not the time for the kinds of hazardous economic schemes that are doing so much damage elsewhere in the world.

www.markmacdonald.ca or markmacdonaldconservative@gmail.com

Sheila MalcolmsonNDP

The NDP has a plan that will make the economy work for Canadians.

We will help the real job creators in Canada, our small business owners. While the Conservatives have cut taxes for the wealthiest companies, the NDP have committed to lower the small business corporate tax rate from 11 % to 9 %, and to make it easier for small business owners to deal with government programs and departments.

The Conservatives have neglected the forestry sector – raw log exports have increased, 68 coastal mills have closed, and 6,800 forestry and related manufacturing jobs have been lost.

New Democrats believe in getting the best value and the most jobs out of the logs harvested here. We’re committed to reducing raw log exports, investing in forestry innovation, research and development, and promoting value-added wood products at home and abroad.

To boost the economy and create jobs, the NDP plan will:

• create an innovation tax credit to encourage investment in machinery and equipment used by manufacturers to innovate, boost R & D and create jobs

• extend the accelerated capital cost allowance for manufacturers

• reduce credit card transaction fees charged to merchants, freeing up money to invest in hiring

• restore the 15% tax credit for investments in labour-sponsored funds to give small and medium sized businesses access to the funds they need to grow

• invest in vital municipal and transportation infrastructure by increasing transfer of the existing gas tax to provide an additional $1.5 billion to local communities

Tim TessierLiberal

The federal government has an obligation to lead a growth agenda that will benefit the middle class by investing in Education, Infrastructure, and finding new trade partners. We must open up markets abroad for Canadian resources, and to help create responsible ways to get those resources to those markets.

Enhance tax measures to generate more clean technology investments, and work with the provinces and territories in order to make Canada the world’s most competitive tax jurisdiction for investments in the research, development, and manufacturing of clean technology.

Ensure smart, sustainable investments in Canada’s infrastructure to create jobs, increase productivity, attract investment and improve our quality of life.

We need middle class Canadians to have more money in their pockets to save, invest, and grow the economy – to bring back fairness and to strengthen the heart of the Canadian economy we’re going to give a tax break to middle class Canadians.

A Liberal government will cut the middle class income bracket by 7% and a Liberal government will create the Canada Child Benefit, one fair, tax-free monthly child benefit that puts up to $533 a month per child back in the pockets of the middle class. We will also provide more help to lower income Canadians.

Liberals believe the federal government should invest in the development of more affordable housing units to help Canadian families ease their cost of living.