Today the Canadian Centre for Policy Alternatives (CCPA) released the Alternative Federal Budget (AFB) fiscal stimulus plan. CUPE supports the one-year package that would create 407,000 jobs, boost the economy by 3%, and help protect Canadians from the worst of a recession.
- Download Leadership for tough times [28 pages, PDF]
- See also CUPE to push labour agenda for next federal budget
Consistent with recommendations by the IMF and OECD, the plan injects $32.9 billion (or 2.1% of GDP) into Canada’s economy to protect Canadians who experience loss of income, as well as strengthen and build hard and soft infrastructure to address the challenges of climate change, income inequality, and aging populations.
- Key investments outlined in the plan include:
- $12.4 billion to protect the most vulnerable Canadians with investments in fixing EI so more out of work Canadians receive benefits, poverty reduction, and income supports for seniors, children, and the working poor;
- $14.7 billion to strengthen and build infrastructure with investments in municipal infrastructure, affordable housing, child care, and post-secondary education; it also honours the First Nations Kelowna Accord;
- $5.8 billion to prepare for the future by investing in green infrastructure, training and education, and energy retrofits.
The AFB plan’s impact on job creation and GDP has been validated by Informetica Limited’s macro-economic model.
The CCPA will release the full Alternative Federal Budget document later this month.