With the cost of essentials like housing, food, and fuel expected to continue to increase in the coming months, Canadian families looking for help in today’s fiscal update will find themselves disappointed, according to Algoma-Manitoulin-Kapuskasing MP, Carol Hughes.
Hughes notes that there was little to address the stresses to household budgets, and nothing to ask those who have profited the most from the pandemic to contribute to the mounting cost of maintaining the country they are operating in.
“The two items are connected,” said Hughes. “The companies that are making money hand over fist are profiting as inflation runs unabated. Meanwhile, some families are struggling having lost their Canada Child Benefit due to eligibility for special pandemic benefits – it’ s a mess.”
Hughes points out that this is exactly the case with rising food cost which are fueling giant grocery chain profits.
“In most cases incomes are not matching inflation, but corporate profits are outstripping it,” said Hughes. “Somewhere along the way we have to look at finding balance. When banks post billions in profits and families continually struggle to get by with less, something is wrong.”
One area Hughes was cautiously optimistic about was with respect to seniors who had lost their GIS eligibility based on pandemic relief assistance.
“New Democrats were diligent ensuring the government understood the nature of the problem,” said Hughes. “We need to see the details about the one-time payment, but this is a promising development for people who are very concerned about losing their benefit.”