General Canadian Politics eh.

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Dave Insurgent

Johnny hates to think, he's ignorant
Jan 11, 2016
13,461
13,397

Drove across half of BC recently (1950km), seen about a dozen Alberta plates, a Yukon plate and a Manitoba plate. Also seen a Mississippi plate and an Alaska plate.
 

Dave Insurgent

Johnny hates to think, he's ignorant
Jan 11, 2016
13,461
13,397
Well how bout that..

Basic Income Could Cost Less Than Money Spent On CERB: Watchdog
The federal budget watchdog estimates a six-month guaranteed basic income for all eligible Canadians could cost the government less than what has already been spent on Canada Emergency Response Benefit (CERB) payments over a four-month period.

Parliamentary Budget Officer Yves Giroux released a new report Tuesday in the wake of emergency money that’s been rolled out to soften the “brutal” economic impacts of the COVID-19 pandemic.

“The introduction of CERB has brought discussions of universal basic income to the forefront once again,” the PBO wrote in its report.


A basic income for the last six months of the 2020-21 fiscal year would cost at least $47.5 billion and upwards of $98 billion, the report read. In this scenario, the funding would provide a guaranteed annual income of $18,329 and $25,921 to individuals and couples, respectively.

Approximately 9.6 million Canadians between the age of 18 and 64 would be eligible for payments at the lowest income threshold the PBO examined. The money is intended to help cover the basic necessities of life such as food, clothing and shelter.

Advocates have long argued that implementing a guaranteed basic income could replace an existing patchwork of social assistance programs and tax measures for low-income or disabled individuals, while saving administration costs.

The PBO found approximately $15 billion could be saved this way. The savings could theoretically be used to offset the cost of implementing a guaranteed basic income.

Comparatively, the federal government has so far paid $53.5 billion in direct CERB payments since mid-March to Canadians whose employment has been impacted by the coronavirus pandemic.

Breaking down the math
Giroux’s office used the parameters of Ontario’s scrapped basic income project to guide its calculations. The PBO included a supplemental $1.7 billion for guaranteed income for disabled Canadians into all of its projected scenarios.

The PBO looked at how much a federal program could cost at a 50 per cent, 25 per cent, and 15 per cent reduction rate.

A reduction rate is the percentage of the benefit that is reduced in relation to earned income. So, for every dollar in wages, a recipient’s benefit is reduced by between 50 and 15 cents, depending on the model. The reduction is built into many basic income proposals as a way to incentivize people to work and earn higher incomes.

The lower the reduction rate, the more people who would be eligible for larger benefits — which in turn increases overall program costs.
 

Dave Insurgent

Johnny hates to think, he's ignorant
Jan 11, 2016
13,461
13,397
China’s ambassador warns Canadians to get ready for retaliation
China’s ambassador to Canada said Canadians should prepare for retaliation after Ottawa protested the Asian nation’s security crackdown in Hong Kong.

In an exclusive interview with the Star, Ambassador Cong Peiwu accused the Liberal government of “interfering in China’s internal affairs” by suspending the Canada-Hong Kong extradition treaty and stopping military and “dual-use” exports to the city.

Cong was reiterating and reinforcing the official line from Beijing. On Monday, a spokesperson for China’s Foreign Ministry condemned the Canadian response, “reserved the right to further react,” and warned Canada would “bear the consequences.”


“I’d like to suggest you just wait and see,” Cong said when asked what specific “consequences” Beijing was contemplating.

“As I have told you, we are resolute in safeguarding our national security and sovereignty. We will not just sit idly by.”

It was another in a growing list of warnings and retaliatory actions made against Canada by the Chinese government, which is facing international condemnation for a draconian new national security law imposed on Hong Kong. The new law, which came into effect last week, gives Beijing more power to silence political dissent, as well as limit the activities of non-governmental organizations, media and foreign governments in Hong Kong.

The Canadian government condemned the crackdown, and on Friday announced it was suspending its extradition agreement with Hong Kong, as well as military or “dual use” exports — such as equipment used by police to quell pro-democracy demonstrations in the city.


Canada’s foreign affairs minister, François-Philippe Champagne, has accused the Chinese government of “coercive diplomacy” and “arbitrary detention” — a reference to Michael Kovrig and Michael Spavor, two Canadians who have languished in Chinese detention for more than 570 days and are now facing espionage charges. In a move widely seen as retaliation, they were detained by Chinese authorities just days after Canadian police arrested Huawei executive Meng Wanzhou in December 2018.



But Beijing’s aggressive diplomatic posture is yielding diminishing returns, according to Margaret McCuaig-Johnston, a University of Ottawa professor and former civil servant who worked on Canada-China relations.

McCuaig-Johnston said China has taken a similar approach with Canada’s allies — including the U.K., U.S., France, Germany, and others — trying to mute criticism on everything from human rights to Huawei to Hong Kong.

“I think they are overplaying their hand,” McCuaig-Johnston said in an interview.

“Western countries are not amused by these kinds of threats. That’s why some of the threats are very specific, like threats to Germany’s auto industry if they don’t (allow) Huawei (into 5G networks), threats to stop work on building nuclear reactors and high-speed rail systems in the U.K.”


“For countries like Canada, there are quite a few ways they can hurt us — through their companies, by kidnapping our citizens … but I think Canada and other countries are working more closely together to collaborate on common approaches,” McCuaig-Johnston said.


Champagne told the Star in an interview Friday that Ottawa is working on a new “framework” for Canada-China relations based on “clear rules and standards,” “Canadian interests,” and “values and principles including human rights.”

But Prime Minister Justin Trudeau and his government have repeatedly said that securing the release of Spavor and Kovrig is their top priority.

Detained shortly after Meng’s arrest, the two were held without charges for more than a year. In June, Chinese authorities announced both men would be charged with stealing state secrets.

Meng faces possible extradition to the United States, where the high-powered telecom executive is wanted on fraud charges.

On Tuesday, Cong repeated lines from the Chinese government suggesting the “facts” of the cases against Kovrig and Spavor were clear — despite Chinese authorities releasing almost no “facts” about what the two men are alleged to have done.


Kovrig and Spavor’s extended detention — it could still be years before they face trial — has led some prominent Canadian political figures and legal thinkers to argue that Canada should engage in a “prisoner swap:” the two Michaels for Meng. Others, including Canada’s former ambassador to China, David Mulroney, have argued that would encourage more “hostage diplomacy” from Beijing.

Asked repeatedly about the issue Tuesday, Cong kept returning to what China views as the “political” nature of the fraud charges against Meng.


“So my suggestion and my hope is that the Canadian side will reflect on its policy and it will take measures to correct the political decision (and) release Meng as soon as possible,” Cong said.

“Because we believe that is the main obstacle in our bilateral relationship. And so that means we can bring our relations back on track.”


When asked if Canadians should take that to mean releasing Meng would put an end to China’s retaliatory actions, Cong said: “if Canada takes the measures to remove the main obstacle, the Meng case, it helps our relationship to be back on track, and that’s conducive to the great potential of our co-operation.”
 

Lars Soros

Leader of The Syrup Boyz
Oct 17, 2015
20,595
29,660
Rambo John J @Rambo John J we are racking up massive debt here, we were already spending beyond our means pre-covid, we don’t have 100 to over 200 billion a year lying around to just throw at people.
 

Rambo John J

Saper Aude
First 100
Jan 17, 2015
43,963
49,012
Rambo John J @Rambo John J we are racking up massive debt here, we were already spending beyond our means pre-covid, we don’t have 100 to over 200 billion a year lying around to just throw at people.
We don't either, since when does that stuff matter
Our most broke states are purposely tanking economies to get federal assistance from the money printers...they go Brrrrr
send this tutorial to trudy, he will fix
View: https://www.youtube.com/watch?v=WCY-ty1lrp4
 

jason73

TMMAC Addict
First 100
Jan 15, 2015
49,732
96,073
The Canadian Press - Jul 8 11:25 am
UPDATED: 11:25 a.m.

The Trudeau Liberals say they expect nearly two million Canadians to remain without jobs this year as the COVID-19 pandemic drags down the domestic economy and federal aid sends the deficit to a historic $343.2 billion.

The economic and fiscal "snapshot" from the government today lays out the Liberals' belief that there will be a slow return to a new normal, with unemployment high and economic growth low through to at least the end of 2021.

Even though the government believes the worst of the economic harm from the pandemic is behind the country, the document says a recovery can't begin in earnest until an effective vaccine or treatment becomes widely available.

Things could, however, get worse under two alternative scenarios the Finance Department lays out.

Should prolonged shutdowns stay in place, or restrictions not fully roll back, a return to normal activity for households and businesses will be uneven and slower than hoped for, leading to a more pronounced drop in economic output than is already expected.

And should the country be hit with a second wave of the novel coronavirus during the annual flu season, the ensuing lockdowns would cause what the Finance Department describes as a "deeper and longer-lasting negative impact on the economy."

The Liberals have repeatedly promised to use the federal treasury as a financial shield between Canadians and irreparable harm, and the cost of that promise is now at $231.9 billion in direct spending and a deficit comparable only to those seen in the Second World War.

Whatever the costs, they're worth it, Prime Minister Justin Trudeau said in a news conference Wednesday morning, before the snapshot was released.

"As we measure the cost of helping Canadians, we shouldn't forget that the cost of doing nothing would have been far more," Trudeau said, insisting that this is not the time for belt-tightening or austerity.

The document tries to make that case, saying that the $80-billion Canada Emergency Response Benefit, which had paid out $53.5 billion in benefits as of late June, has covered Canadians' estimated $44.6 billion in lost labour income through the first half of the year.

The $2,000-a-month benefit is estimated to have covered the monthly housing, food, phone and internet costs for the bottom and middle thirds of households, according to Finance Department calculations.

ORIGINAL: 9:35 a.m.

The federal Liberals are to lay out today how they see the COVID-19 pandemic affecting government finances for the fiscal year including an estimated deficit and a projected path for the economy.

Finance Minister Bill Morneau is to release what the government has styled a fiscal and economic snapshot.

The Liberals have regularly updated MPs about total spending on emergency aid, which by last count amounted to over $174 billion, but have yet to put a figure on the deficit for the fiscal year.

The parliamentary budget office has suggested the deficit could be as deep as $252 billion.

Other private sector estimates suggest $300 billion wouldn't be out of the realm of possibility.

Whatever the costs, they're worth it, Prime Minister Justin Trudeau said in a news conference Wednesday morning, before the snapshot was released.

"As we measure the cost of helping Canadians, we shouldn't forget that the cost of doing nothing would have been far more," Trudeau said, insisting that this is not the time for belt-tightening or austerity.

Historically low interest rates mean all the borrowing comes with "manageable" costs, he said, and the alternative would be for individuals and households to load up with debt themselves to cope with months of no or little work.

Opposition parties have said they expect Morneau to provide a road map for reshaping emergency aid measures that are set to expire in the fall and keeping spending and deficits under control.

In his own morning news conference, Conservative Leader Andrew Scheer said the Liberals mishandled the COVID-19 pandemic by being slow to close borders and by instituting too-rigid emergency aid programs.

Canada can't afford for the Liberals to mishandle the economy as well, he said, by keeping benefits in place that remove incentives to go back to work while the novel coronavirus remains a risk.

"Liberals put all their faith in government, Conservatives put our faith in people," Scheer said.

He said the Liberals should take up a Conservative proposal to offer a "back to work bonus" and send more money to the federal auditor general so her office can study the government's spending more closely.

Fuelling the deficit is an unprecedented drop in economic output and employment that will cut revenues the government expected to receive this year.

Morneau's document is also to provide the government's view for the economy over the coming months.

The finance minister has said the document won't have a five-year forecast traditionally part of federal budgets owing to the uncertain path the pandemic will take.

The Bank of Canada has said it believes the economy has avoided a worst-case scenario due to COVID-19 but is still in for a rough ride this year.

Last month, the central bank updated its GDP forecast, foreseeing a decline between 10 and 20 per cent in the second quarter compared with the fourth quarter of 2019. That is an improvement from the 15-to-30-per-cent drop in the quarter highlighted in the bank's worst-case scenario in April.

Next week, the Bank of Canada is to again update its forecasts when it releases a monetary policy report along with a scheduled rate announcement.
 

ConorMcGregorsBeard

Stewart Era Liberal
Jul 22, 2015
33,958
32,776
The $2,000-a-month benefit is estimated to have covered the monthly housing, food, phone and internet costs for the bottom and middle thirds of households, according to Finance Department calculations.
Who here can pay rent/mortgage, food, and phone/internet on $2k per month?
 

Dave Insurgent

Johnny hates to think, he's ignorant
Jan 11, 2016
13,461
13,397
If you can’t live off 2k (plus emergency savings) per month in crisis mode, you’re living above your means... or are just fiscally irresponsible.