I spent a lot of time on this piece and everything I learned made me more mad.
The Ford government is giving even more money to long-term-care operators facing lawsuits for negligence.
Inside a twisted tale that will lead to disaster via
@torontostar
Dear Premiers:
Healthcare is a shambles everywhere so you want $28B/year more from the feds, no questions asked.
Me and the Care Economy team say: show us the plan for how you’d use it to address our 5 big problems
No plan? No money.
via
@torontostar
Canada is the 10th largest economy in the world, with a fraction of the other economies' populations.
We can build whatever kind of world we want.
#cdnecon
For the people who think that Canada is fiscally "broken": nuh uh.
We good, fam.
This is from the latest IMF Fiscal Report, "Fiscal Policy in the Great Election Year"
Chapter 1
The program promised in 2021 is finally here.
When the federal Liberals put it into the mandate letters, Canada was the only G7 nation and 37th out of the world's 41 richest nations without a national school food program.
This is a true legacy move.
Thrilled to announce I've been asked to be economic policy advisor for the Deputy Minister of Employment and Social Development Canada. Over the next year will work on policy responses to the changing nature of work.
#FutureOfWorkers
#DreamJob
What a time to do this! Can't wait!
More than a quarter (27%) of 3,389 small firms with employees that responded, from a CFIB membership of 110,000 small firms (including the self-employed with no employees), from a business registry census of 1.2 million small and medium enterprises.
Not the only misleading info.
The biggest problem in health care is not privatization, it’s corporate profitization.
Here’s how to stop it.
My latest, with Pat Armstrong via
@torontostar
For those bemoaning the capital gains on individuals: please note 99.87 percent of Canadians are not affected.
For those worried about "investments": please check it what Moodys has to say about CCPCs
Actual biz investments../2
I love all the commentary that thinks PSAC workers are fat cats in offices making 6 figures. Wrong set of workers!
Check out some of the jobs they do in my column:
Surprise! They're a lot like you!
.
@JustinTrudeau
announces $2K every month for the next 4 months who lose their income as result of COVID
The new Canada Emergency Response Benefit replaces ECB and ESB (Emergency Care Benefit and Emergency Support Benefit, announced March 18)
Who gets it? /2
Canada's first female Finance Minister, in Canada's first self-declared feminist government, has appointed* a Task Group to help inform how to tackle the world's first she-cession and shape she-covery.
Meet The Team:
#AddWomenChangePolitics
?
God, hope so
Hello Alberta
I was comparing which province's women saw the most roll-back of gains in employment equity due to the pandemic.
It's you guys.
Women's employment rate in 2020 was back at the level it was in 1984.
P.S. More AB women had paid work than anywhere in CDA not long ago
Universal child care would generate up to $29 billion a year in tax revenues, new report says via
@torontostar
It. Pays. For. Itself.
Thanks
@JimboStanford
for crunching the numbers
"We are told to welcome, not fear, more for-profit care; that more care, from any source, is the cure for what ails us.
This claim is neither new nor true. Decades of evidence, from Canada and abroad, shows this approach wastes money and provides inferior care."
We show why
10 paid sick days
10 paid sick days 10 paid sick days 10 paid sick days 10 paid sick days 10 paid sick days 10 paid sick days 10 paid sick days 10 paid sick days 10 paid sick days 10 paid sick days 10 paid sick days 10 paid sick days 10 paid sick days
10 paid sick days
NEW: Toronto's medical officer of health is calling on the province to provide 10 paid sick days during infectious disease emergencies. Her report also calls on the MOL to devote additional resources to protect temp workers.
Full story to follow
The world is changing and so is the business news.
Welcome to my column for the
@TorontoStar
's Biz section.
Thrilled to be joining this talented pool of reporters and columnists.
My take on the big picture here and every second Wednesday (from Sept 22.)
Surprised that the campaign hasn't yet featured more debate about the 8 bilateral fed/prov/terr deals for early learning and childcare, 50 years in the making.
WAY more than an affordability issue. Critical to equity, economic recovery, and future economic potential.
#Elxn44
Long time coming, no joke.
Canada finally joined the rest of G7 nations and introduced a national strategy for school food programs.
This is SOOOOO important, for so many children.
Justin Trudeau announces national school food program amid rising grocery prices
The Liberals estimate such a measure would give roughly 400,000 children access to healthier meals.
via
@torontostar
Here, let me fix it for you:
Workers on unemployment benefits are reluctant to give up their lives to return to workplaces where you can't physically distance, and aren't given PPE.
Sound familiar? "U.S. businesses looking for a quick return to normal are running into a big hitch: Workers on unemployment benefits are reluctant to give them up. That’s complicating plans to reopen states and get the U.S. economy back on track."
If you have a safe and warm place to sleep; clean water to drink; good food to eat; and kind people in your life, you've hit the jackpot.
Please use these amazing gifts to make sure no one goes without.
$50B in new measures *over 5 years* in an economy of ~$3TR *a year* -- and an growing output gap because of the Bank of Canada's inflation fighting rate hikes -- cannot trigger more inflation, mathematically speaking.
Can we please do business journalism, not storytelling?
@theoargitis
: "There were >200 new measures in Canada budget, worth over $50B in new spending at a time when Bank of Canada is working to quell inflationary pressures. Program spending will rise 6.7% this year, almost twice the pace of economic growth."
Recovery, when it happens, will require boosting the economy from the bottom up.
Why?
Lower-paid workers spend every dollar of what they make, mostly on local goods (food, rent, some entertainment). Higher up the income ladder, more savings, more spending on vacation and imports
The biggest problem in health care is not privatization, it’s corporate profitization.
Here’s how to stop it.
My latest, with Pat Armstrong via
@torontostar
Is the federal debt a problem? No. You'd never know it from all the noise.
Why did it go up so much? A global pandemic.
Feds tried to keep P/Ts, businesses and households as whole as possible.
Payoff: our GDP and job market bounced back >year before the US
#StopWhining
Ottawa's debt has been characterized as "skyrocketing". How bad is it?
Some international and historic context, and where we go from here.
Today's
@FrontBurnerCBC
This is bold stuff.
Compare and contrast words vs deeds, current vs past housing policy
+ presented in a fun way
Kudos to those who boiled down the issues in the most urgent Canadian policy file to 3 minutes.
Good morning, especially you moms, who are lifting so much/so many and getting so little support, tho the recovery rides on your backs.
I will be seriously steamed on your behalf first thing this morning on
@TheCurrentCBC
Steaming alongside a Nation of The Steamed.
I've gone back and forth about telling you about Constance and what her life and her death meant to me.
Decided it's more important to thank you for your kindness to me in this dark, enraged time.
Be kind as often as you can. Everybody's got a story that will break your heart.
Exhausted by
#Elxn44
, but here are words to live by, from Ken Dryden (with permission):
"Today when people say it was an election where everyone lost, you can say, no, child care won. And now it will be around forever and ever."
What a mensch.
Most business news doesn’t talk about the context that shapes business moves.
I’ll bring you the big picture, and put more emphasis than you’ll usually see on the people who generate wealth for business: the workers.
New Star columnist
@ArmineYalnizyan
Oh puhleeze
This is the man who campaigned for protecting us from downsides of free trade ("Social programs are a sacred trust") then axed UI within 6 months of winning.
Cut all fed$ for jobless benefits (almost $2.5B at the time) just as we entered a made in Canada recession.
/2
Some people find me too intense, too focused on how the most vulnerable are treated, how actions/policies leave people behind.
I'm Armenian.
These are the stories, the people I grew up with.
Today is the 105th anniversary of the
#ArmenianGenocide
#NeverForgotten
#NeverForget
Did you know?
World's largest orphanage Alexandropol(today Gyumri).
Orphanage for more than 25 000 ORPHANED ARMENIAN CHILDREN FROM OTTOMAN EMPIRE.
They and their parents were citizens of the Ottoman Empire.
What CERB has done thus far, as
@hscoffield
rightly notes, is boost the economy from the bottom up.
Opposite of trickle down economics.
Exactly what is needed, post-pandemic, too - employers, pay your workers more than poverty wages, please.
#3
: The whole world is watching how we react. How the police did their job. What we do next.
At least right now, the conversation is about slowing down, being human with one another, showing kindness.
There is nothing else.
#TorontoTheGood
isn't just a hokey holdover from the 50s
Here's a video that shows where where 12 migrant farmworkers are crammed into an employer-provided bunkhouse separated only by flimsy cardboard. In the middle of a pandemic. Governments must act NOW to prevent more Black & Latinx workers from getting sick.
They don’t want your “thanks.”
They want PPE to keep them safe...
Staffing levels that allow the time to provide quality care...
One full-time job to raise a family and retire in dignity...
And tougher regulations that keep LTC corporations from putting profits over people.
Surprised by job gains? The re-opening was well under way two weeks ago.
Twice as much job gains for men (+206K jobs) than women (+84K).
Goods producing increases>services
The she-cession continues.
The he-covery begins.
/2
If 30-50% of roads and bridges were at risk of collapsing there would be a national plan.
That's happening to childcare.
Social infrastructure is as key to an economy as physical infrastructure.
HAVE BEEN SAYING THIS FOR MONTHS, as have many others.
Where the hell is the plan?
Q: Is this what you had hoped for? Is it enough?
A: Absoflippinlutely.
The amount of fed $, the long-term focus, the attention on improving quality, the acknowledgment that we have to build on and improve what we have....BAM. We're here. For our youngest learners and one another.
This week I ended my term as President of
@CABE_Economics
. Yesterday I ended my term as Senior Economic Advisory to the Deputy Minister of Employment and Social Development Canada.
Today I start a new chapter.
Wishing you all a
#BeautifulNewDay
The history of labour is largely unknown by our students. There is one labour reporter left on major dailies. (
@SaraMojtehedz
at
@TorontoStar
) The
#FutureOfWork
debate rarely mentions workers.
Canadian workers built this country from the bottom-up.
But experts say many students are graduating from Canadian high schools with little knowledge of labour history or their rights as workers.
#cdnpoli
#canlab
#LabourDay
Why tax cuts aren't gender neutral:
37% of women already don't pay income taxes. No tax cut for them.
Women consume more public services than men.
Women *provide* more public services than men.
If tax cuts → revenues ↓ → public services ↓ then
tax cuts are bad news for women
@mrsinisterlefty
@MikePMoffatt
Also (MORE IMPORTANT): poor people don't benefit as much from tax cuts as they do from greater services. "More money in your pocket" never makes up for the costs of the supports that you either don't get enough of, or lose - subsidized housing, childcare, transit, healthcare...
If I was a car I'd vote for the Conservatives. But I'm not a car.
Our social infrastructure has more urgent deficits than our physical infrastructure. Pitter patter, let's get at 'er.
My latest for
@TorontoStar
@PMoelleken
@ZelenskyyUa
This is the zeitgeist of the moment.
The pandemic also is trying to teach us this lesson:
My security is tied to your security.
In war.
In a pandemic.
In any version of the economy.
My well-being is tied to yours.
My latest for
@torontostar
Affordability — not inflation — is the biggest crisis Canada’s economy faces today
Let's say inflation hits ZERO percent.
The problem remains unaffordable housing, food and - now - healthcare.
"More than 48% of Canadian parents have struggled to find affordable child care, a recent Statistics Canada study found, prompting 27% of them to delay a return to work and 41% to change work schedules."
Tax credits can't fix that problem.
#Elxn44
Dear any political party
Don't bother preaching tax cuts, debt-reduction through service cuts, as the fast-track to the future or a path to prosperity.
We've had a quarter century social experiment with that.
We're done with that fiscal fantasy.
#TimesUp
#GenderResponsiveBudgets
Why tax cuts aren't gender neutral:
37% of women already don't pay income taxes. No tax cut for them.
Women consume more public services than men.
Women *provide* more public services than men.
If tax cuts → revenues ↓ → public services ↓ then
tax cuts are bad news for women
2. *Provide healthcare workers better pay and more control over schedules., This is the exact formula the private sector is using to lure them away. It's not rocket science. There isn't a different shortcut./3
Trickle down: Income growth in America from 1980 to 2014
Top .001%: 616% growth
Top .01%: 423% growth
Top .1%: 298% growth
Top 1%: 194% growth
Top 10%: 113% growth
Bottom 20% 4% growth
NEW: PM Trudeau says his $6B housing infrastructure fund “will flow” with or without the Ford government’s buy in.
Trudeau says every province that participates “fully” will get the housing enabling infrastructure. Otherwise it will go to cities.
#onpoli
I expect more from all of us - individuals, communities, nonprofits, businesses, associations, governments - during this pandemic, and you should too.
Let's deal with honest failures, and not waste energy on policy failures that don't exist.
Please.
Everyone.
Pandemic Revelation: The care sector is an engine of the economy and a major driver of the economic future.
Want a stronger middle class and better quality of life?
Make every job in the caring economy a good job.
#FutureOfWorkers
The Caring Economy must be more than an afterthought. At over 12% of GDP & 21% of jobs, it’s foundational to an equitable economic recovery shows Atkinson Fellow on the
#FutureofWorkers
@ArmineYalnizyan
.
Get Armine's up-to-the-minute commentary:
#cdnpoli
What kind of jobs were hardest to fill? The most COVID19 risky ones where distancing/PPE may be missing: hospitality, warehousing, manufacturing (this is primarily food processing), delivery, construction, personal services (LTCs?)
CERB may indeed be the safest option for you!
Everywhere around the world investors/private equity firms have healthcare in their crosshairs.
We've fought this before, but never has so much money been on the table before, just as populations age throughout the global north.
It's showdown time.
#MadridSeLevanta12F
Huge demonstration in Madrid. More than 250,000 people demonstrate to defend the public health system and protest against its privatization.
The Bank of Canada is warning that weak productivity and low business investment has become a national “emergency,” making it harder to control inflation and risking the erosion of living standards.
Inside Dog Ford's Tapeworm Economy
My latest for
@TorontoStar
on what Ontario's embrace of private equity in health care means to you and me. And the business story of why.
@picardonhealth
@globeandmail
Very glad that the editorial board wrote a version of this today.
At least we put in names of what strings should be attached, way back in August.
Dear Premiers:
Healthcare is a shambles everywhere so you want $28B/year more from the feds, no questions asked.
Me and the Care Economy team say: show us the plan for how you’d use it to address our 5 big problems
No plan? No money.
via
@torontostar
For those who noticed, my radio silence is because
I have replaced the noise of daily news with the sounds of reggae during dinner prep, laughter over meals, and loons at night until next week.
Take care, and help others, as you can.
Good review of why last week's capital gains inclusion rate changes won't affect business investment decisions.
Opinion: Calm down, the sky isn’t going to fall with the capital gains tax hike /via
@globeandmail
I'm absolutely thrilled to have the wisdom and power of
@AtkinsonCF
behind me!
My life's work has been about the
#FutureOfWorkers
and advancing
#InclusiveGrowth
.
Wonderful to align these efforts with the work of this remarkable foundation, and Joseph Atkinson's legacy.
THANK YOU!
"We don’t need an action plan for corporate profit and control, using public money. We need to improve the public system." Three ways:
1. Throughout the pandemic, virtual care and specialized surgeries accelerated in non-profit, publicly funded settings. Do more of this. /2
People without children are not understanding what is happening to people with children.
There are no policies in Canada designed to help young families deal with the here and now of the pandemic.
This thread is heartbreaking
3yo tested positive. I know it’s popular to act bewildered and claim to have been nowhere, but in fact we have had some exposure: the amount required to keep our jobs, plus a masked, outdoor family Christmas gathering.
Hello everyone.
Please send your good vibes in the general direction of this historic undertaking, so we create the momentum to move from lip service and rhetoric towards change that matters for those who need it most (men and women).
Boosting the economy from the bottom up.
Tonight I co-chaired the first Task Force on Women in the Economy to discuss a plan to address jobs & gender equality in the wake of the pandemic. We recognize an inclusive economic recovery is also a feminist recovery, with full participation of women in the workforce.
The Re-opening has been mostly for men.
If policy priorities don't shift gears fast, women's gains in economic equality will be set back decades.
1 of
@lmonseb
's last pieces for
@torontostar
.
No recovery without shecovery. No shecovery without childcare.
The more I think about what
#Budget2018
means, the more I am heartened.
It reflects a major transition in thinking about what public finance is for.
It's a mental pivot, away from decades of focus on how small you can shrink government, and how fast you can eliminate deficits /2
There were only 868 respondents to the question "what reasons has your staff given for not returning to work" of which CFIB claims in the presser 62% say "prefer CERB".
Yet this slide says only 14% of all businesses say they had staff who refused to return to work because of CERB
The Caring Economy must be more than an afterthought. At over 12% of GDP & 21% of jobs, it’s foundational to an equitable economic recovery shows Atkinson Fellow on the
#FutureofWorkers
@ArmineYalnizyan
.
Get Armine's up-to-the-minute commentary:
#cdnpoli
People being squeezed out of area methodically, gently. Cops not confrontational.
Commentator on CTV: police are not kettling protesters as in G20, they’re giving an opportunity for people to leave.
Will all protesters (strikers/environmentalists) be treated this way in future?
Canada is the 10th largest economy in the world, with a fraction of the population.
We can create any type of society we want.
Whatever we choose, we'll pay for it: through taxes, through our "pockets", through what we don't accomplish as a society.
*That's* our choice.
#cdnecon
Nuts that, after 1/2 a year of pandemic life, NO Canadian jurisdiction improved paid sick days.
Of 14 jurisdictions (1 federal and 13 prov/territorial) 11 still offer NO PAID SICK DAYS.
Of the 3 that do: feds offer 3 paid days; QC 2; PEI 1
Nobody offers enough to quarantine!
+
Without more support for child care, economic recovery will be slow, says expert | CBC Radio
It me
No recovery without shecovery
No shecovery without childcare
Love this whole thread.
Thank you
@DougSaunders
Please note the key fiscal fact here in Canada [Quebec]: early learning and child care pay for itself.
The key human fact: done right, ELCC unlocks potential, of parents and children.
Bring it!
Quebec introduced a universal childcare program 20 years ago. While hardly lavish, it produced the highest rate of female workforce participation in the world. It also raised Quebec's fertility rate. And it paid for itself, through added tax revenues created by working women.
The Uberization of health care
My latest for
@TorontoStar
‘Laura’ spoke on condition of anonymity. Her story of what’s happening in nursing is a warning to us all via
@torontostar
This, not the "grocery rebate", was the real news today
65% of 3.5 mortgage holders, 67% of 4.1 renting households are having trouble meeting financial commitments. That's half of Canada's 10M households!
More people spending more than they earn.