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| Economy Issue Stories |
| Debates all about green |
| Questions about economy, environment dominate session |
With voters heading to the polls in less than a week, Newmarket-Aurora federal candidates went head to head three days in a row. After Monday night’s showdown in Aurora and in advance of last night’s debate in Newmarket, the six politicians perched on wooden ... » read story
Teresa Latchford
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| Debates all about green |
| Questions about economy, environment dominate session |
With voters heading to the polls in less than a week, Newmarket-Aurora federal candidates went head to head three days in a row. After Monday night’s showdown in Aurora and in advance of last night’s debate in Newmarket, the six politicians perched on wooden ... » read story
Teresa Latchford
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| State of auto industry key issue: Conservatives |
The economy will be a hot topic among federal election candidates, according to Industry Minister Jim Prentice. Spending a day with Newmarket-Aurora Conservative Candidate Lois Brown on the campaign trail, he stopped in to have a chat with The Era-Banner and the ... » read story
Teresa Latchford
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| We should spoil ourselves, Liberal MP says |
Michael Ignatieff’s visit was meant to bolster fellow Liberal candidate Tim Jones’ bid for Newmarket-Aurora. But the message, from his one-hour round-table discussion on the sagging state of the country’s infrastructure, got mixed along the way. One moment, the ... » read story
Patrick Mangion
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| Sagging economy big on Liberal minds |
| Deputy leader chides Tory tax cuts |
Michael Ignatieff’s visit was meant to bolster fellow Liberal candidate Tim Jones’ bid for Newmarket-Aurora. But the message, from his one-hour round table discussion on the sagging state of the country’s infrastructure, got mixed along the way. One moment the ... » read story
Patrick Mangion
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| Harper touts Conservatives' financial plan during stop in Concord |
Stephen Harper used a noon-hour stop in Concord to compare his “stable” economic plan with Liberal leader Stephane Dion’s proposed “unclear and risky” carbon tax. During this election, Canadians face a “choice between certainty and risk as Canada looks to the ... » read story
Keely Grasser
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| Election Issues: We Asked - They Answered |
| Economy |
| Canada's inflation rate has hit a five-year high and we are already feeling the ripple effect of economic troubles south of the border. If elected, what tasks will you undertake to help turn the tide? |
 Duncan Fletcher Conservative Party Markham-Unionville
We are not in the same situation as the U.S. and do not expect to be as the cause, being too many high risk mortgages, is not an issue in Canada where lending has been generally more prudent. We will face bumps but our Conservative government has chosen to equip people to weather the storm through personal and business tax reductions, business incentives to invest in new technology among other means. I will push to accommodate better inter-provincial trade and encourage trade internationally so our business in not so U.S dependent. The best thing we can do is NOT introduce new taxes on Canadians and engage in big spending as opposition parties suggest. This is not the time.
» View all of Duncan's responses to the issues |
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 Nadine Hawkins New Democratic Party Markham-Unionville
Energy costs, the war in Afghanistan and the difficulties of our major trading partner have impacted on the Canadian economy. Jack Layton's energy plan includes an east-west electricity grid and an $8 billion investment in a new energy economy to reduce reliance on fossil fuels, create jobs and lower the cost of heating, and transportation. Jack Layton and I would improve relations with other trading partners, disclose risk, withdraw from Afghanistan, stop exporting Canadian jobs, and improve workers' health and education. We would also stop Harper's reckless $50 billion in corporate tax giveaways and balance the budget.
» View all of Nadine's responses to the issues |
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 John McCallum Liberal Markham-Unionville
I am proud that the previous Liberal government hit is inflation targets each and every year between 1995 and 2005. Today's inflationary pressures are primarily the result of a rise in global demand for commodities, especially in the energy sector. Over the next ten years demand from growing economies such as China and India will only send those prices higher. That is why we need to act now to reduce our dependence on fossil fuels and traditional forms of energy. The Liberal Party's Green Shift will create the kinds of market incentives that will help businesses and families make the transition to renewable sources of energy. On top of creating powerful market incentives, our platform invests in energy efficiency programs by offering families up to $20,000 to make their homes more energy efficient, improve research and development credits to help create new technologies, and creating an advanced manufacturing and prosperity fund to ensure we are up to the challenges of tomorrow. We have also committed to a complete review of Canada's financial regulatory agencies within the first 30 days of a new Liberal government to ensure we are as prepared should the United States economy fall into recession.
» View all of John's responses to the issues |
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 Allen Small Libertarian Markham-Unionville
Libertarians oppose any government involvement in the monetary and banking system. We propose eventual elimination of the Bank of Canada and the termination of government power to issue or regulate currency or credit. The Bank of Canada is the primary cause of inflation when it increases the supply of money (usually by printing too much) at a rate faster than the growth of the economy. This devalues existing money resulting in inflation. Libertarians would support the following reforms: reduction of both taxes and government spending; an end to deficit spending; the removal of all government impediments to free trade, including legislation dealing with industrial labour relations, the Combines Investigation Act, government marketing boards, and government licensing and enforcement of monopolies (for example, the present communications, utilities and transportation agreements); and the repeal of all controls on wages, prices, rents, profits, production, and interest rates. We support the continued freedom of any individual or group to own gold or any other commodity of exchange, as well as the right to produce coinage and issue currency.
» View all of Allen's responses to the issues |
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 Dorian Baxter Progressive Canadian Newmarket-Aurora
If elected, I will seek to turn the tide in a number of effective ways. Firstly, I would clearly call for a federal committment to a band approach in conjunction with the Bank of Canada. This so-called "band" would refer the maintenance of an inflation rate annually that would not go above or below 3 per cent to 0 per cent. It is a known fact that our present high level of inflation is due primarily to high gas and commodity prices. I would use the infrastructure of NAPPA to assist me in calling for tighter federal control over fuel prices. My target would be the big oil conglomerates. Without doubt the present Harper government is allowing them a free hand. It is imperative that they be reigned in and held accountable.
» View all of Dorian's responses to the issues |
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 Lois Brown Conservative Party Newmarket-Aurora
Having anticipated a slowing global economy Prime Minister Stephen Harper has focused on paying down our national debt ($40 billion thus far), reducing taxes and targeting spending. The international Monetary Fund earlier this year praised Canada for timely tax cuts and complimented the Bank of Canada for its prudent interest rate cuts in response to the economic downturn. As MP for Newmarket-Aurora I will ensure a Conservative government maintains this prudent fiscal approach at a national level.
» View all of Lois's responses to the issues |
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 Glenn Hubbers Green Party Newmarket-Aurora
Canada has no control over events south of the border, and can only learn from them and not make the same mistakes. Approving 40 year, low interest mortgages insured by CMHC as has happened under the Conservative government would be one such mistake. Canada will feel the effects of the financial crisis in the US, despite assurances by Stephen Harper that we will be fine. That message is not enough for out-of-work Canadians. In the short term, the government must put in place programs to help sustain and re-train workers who have been displaced by the economic downturn, and address the fact that such a low percentage of Ontario workers are even eligible for Employment Insurance. This was unacceptable when the Liberals were in power, and has not improved under the Conservatives. In the long term, the only insulation against the ongoing cyclical nature of the economy is to place more emphasis on local business and local markets, and invest heavily in renewable power and public transit to insulate against rising energy costs.
» View all of Glenn's responses to the issues |
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 Tim Jones Liberal Newmarket-Aurora
Our economy is not well. The Liberal Party has demonstrated time and time again that in times of economic uncertainty, we are the only party that is equipped to deal with the challenges. It took the work of last Liberal government to cleanup the Mulroney era of big spending, and it will take another Liberal government to clean Harper's mess up. Our platform will stimulate and improve our economy. We will cut income taxes significantly, freeing up your hard-earned dollars and allowing Canadians to support businesses. We will cut corporate taxes and encourage green innovation. We will support our manufacturing sector so they can improve their systems and products to be greener, and hire back some of the over 200,000 that have lost their jobs in Ontario. As Mayor of Aurora I rolled up my sleeves and worked to attract employers to town - like Magna and State Farm - I was so disappointed to hear the Stephen Harper's government tell the world to not invest in Ontario. We need to work together in these tough times and work hard to improve our economy.
» View all of Tim's responses to the issues |
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 Ray Luff Christian Heritage Party Newmarket-Aurora
The current government says it is being fiscally conservative. They have distanced themselves from being socially conservative which is the position we are glad to take from them. Most people talk about the US owing so much national debt that I talk to but when I tell them that we owe $600 billion in national debt they are really taken aback. Currently we are paying off that debt by only $3 billion a year, yet there are election promises going on offering to give money back to Canadians. We want all parties to commit to a mortgage schedule that will pay the debt off within 30 years. Then if we beat our target in a certain year then give money back to Canadians. Currently it is costing every family 6,000 dollars to pay the national debt when they file their income taxes. A tight fiscal policy will keep inflation in check. As we meet our targets of lowering the debt we will be able to then give tax relief to Canadians by putting some of that money back in their hands. Our dollar will rise further as investors will have more confidence in our economy and prices will deflate.
» View all of Ray's responses to the issues |
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 Andy Arifin New Democratic Party Oak Ridges-Markham
Actually, according to Statistics Canada, core inflation stands at 1.7 per cent, which is below the 2 per cent target for core inflation. Furthermore, the economy contracted at an annualised rate of -0.8 per cent in the first quarter of this year and grew only by 0.3 per cent in the second quarter. These figures indicate a stagnant economy. The NDP are pushing for a revival of the battered manufacturing sector with our Green Car strategy that will provide governmental incentives to manufacturers that develop and produce low- or zero-emission cars. We are also proposing a retrofit programme of existing building stock, such as business buildings, hospitals and schools, to make them more energy efficient. The two measures will keep money flowing in the economy and thus, counter the slowdown. In contrast, the Harper Conservatives are sticking to their stay-the-course’ attitude. The Conservatives have not even released a platform, which speaks volume about their lack of direction for the economy.
» View all of Andy's responses to the issues |
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 Lui Temelkovski Liberal Oak Ridges-Markham
The recent announcement that even Canadian commodity markets are being impacted by the world economic downturn confirms that we cannot remain complacent in Canada. Until now, it was mainly the manufacturing sector in central Canada that was hard hit. The U.S., our largest trading partner, is acting on the economic crisis. So is the European Union. The status quo is not working. That is why Liberal leader Stephane Dion announced a Five-Point Plan during the election campaign. Within the first 30 days of forming a government, the Liberals will:
-Meet with the nation's financial regulatory agencies to assess the state of our financial regulatory system.
-Request private sector economists provide an independent overview of the state of the economy and a forecast for the future.
-Have the Department of Finance produce a prompt Economic and Fiscal Update to the government.
-Meet with provincial and territorial leaders to chart a coordinated strategy to meet the new economic challenges we collectively face.
-Cooperate with the provinces to spur job growth in areas of manufacturing and infrastructure that show the most potential.
» View all of Lui's responses to the issues |
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 Wess Dowsett New Democratic Party Richmond Hill
I would undertake to encourage my party and Jack Layton, our party leader, to continue with insisting that the Softwood Lumber Deal be cancelled and negotiate a FAIR TRADE DEAL with our friends south of the border. You cannot have economic stability unless the trade arrangements with your trading partners are fair and equitable. Our proposals such as the Green Auto Strategy, home and business retrofit, Green Collar Jobs are aimed at helping Canadians save money by reducing energy consumption. This will also stimulate economic growth not based on American demand. Americans are demanding more fuel-efficient cars, our Green Auto Strategy will help the auto sector retool so that we are building the cars North Americans are demanding.
» View all of Wess's responses to the issues |
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 Chungsen Leung Conservative Party Richmond Hill
Turning any tide is not a one man job. It demands a team of professional and dedicated men and women. That is who Harper has in place right now. If elected, I hope my decades of experience in finance and international business can be of assistance to the Conservative government.
» View all of Chungsen's responses to the issues |
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 Dylan R. J. Marando Green Party Richmond Hill
I believe that the greatest economic risk that our country currently faces, is the risk of failing to be innovative by not responding to the growing global green economy. If elected, I will help Canada grow its economy by:
- Supporting the creation of a fairer and more responsible market through the eliminating the enormous corporate subsidies to coal, oil, gas, and nuclear energy companies.
- I will help ecologically friendly small business committed to a low carbon economy by supporting the creation of a Small Cities Green Venture Capital Fund.
- I will help make it more attractive to work by supporting fiscal reforms that will decrease income taxes, decreasing payroll taxes, and introduce income splitting for all Canadians.
- I will support the development of regulations and incentives, which will make a variety common technologies, such as vehicles and home appliances, cleaner and more efficient. Furthermore, I will support bold government investment in renewable energy projects. Such a shift in economic direction has the potential to create hundreds of thousands of new high paying green collar jobs.
» View all of Dylan R. J.'s responses to the issues |
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 Susan Kadis Liberal Thornhill
We have a plan and a strategy for the short, medium and long term success of the Canadian economy. We have presented Canadians with an immediate five-point action plan to strengthen our economy; a plan that will be implemented within 30 days of a Liberal government being sworn into office. The plan directly challenges the Conservative hands-off approach on the economy, promising among other measures to convene a first minister's meeting, something Mr. Harper has refused to do in his tenure as Prime Minister. In order to help our economy, we need to have a plan right now. Doing nothing is not an option. The conservative party's stubborn refusal to present an electoral platform is leaving voters to guess whether the Conservatives have any plan at all to address the challenges facing our economy, which has been left at the brink of recession by their 'laissez-faire' attitude. This is not leadership. It’s abandonment. Our plan lays out a progressive, inclusive vision to make Canada a stronger country now and for the next generation.
» View all of Susan's responses to the issues |
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 Norbert Koehl Green Party Thornhill
I want to ensure Canada maintains a strong economy and believe this can be achieved while still decreasing our green house gas emissions. Income tax is currently too high, and I would work to shift taxes away from income (so that individuals are not taxed on the first $20,000 on income) and onto carbon and other forms of pollution. Polluter pays! This means Canadians will be able to keep more of the money that they earn while those that pollute can save money by decreasing their reliance on fossil fuels. The Green Party platform also calls for income splitting to allow young families to allow them to pay less taxes and give them more flexibility when deciding to take time out from their career to raise children. I will also work to ensure that a Green Venture Capital Fund will be created to support local green start up businesses, to ensure that the Canadian economy can effectively transition away from the old economy jobs that are disappearing fast. The Green Party platform also encourages investment in emerging industries that will produce "green jobs" in renewable energy industries, energy efficiency improvements in homes and businesses and clean transportation alternatives. Other countries have successfully implemented a carbon tax which has encouraged investment, stimulated the economy and created new sustainable jobs.
» View all of Norbert's responses to the issues |
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 Maurizio Bevilacqua Liberal Vaughan
As a former Chairman of the Standing Committee of Finance and Minister of State for Finance, I have had to deal with serious economic challenges. In 1993 when the Liberal government took office, the residents of Vaughan were faced with a $42 billion Conservative deficit, double digit unemployment, low business and consumer confidence, an escalating debt and a tax system that was not rewarding hard working Canadians. We took the necessary steps to bring about Canada's economic renaissance. We eliminated the $42 billion deficit, paid down the debt by $60 billion, reduced taxes by $100 billion, created over 3 million new jobs, 8 consecutive balanced budgets and we had the best record of any G-7 country. In two and a half years of the Harper government, he has been able to squander billions of dollars in surplus, he has dipped into a deficit and this past July our economy lost 55,000 jobs - the largest job loss since the Mulroney era. As a member of the Liberal team that restored Canada's economic stability, I will be guided by our sound economic principles.
» View all of Maurizio's responses to the issues |
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 Adrian Visentin Green Party Vaughan
Inflation is mostly due to the increase in oil prices due to demand from India and China and dwindling cheap oil supply. This will remain a problem as long as we stick with oil and gas as a main energy source. The Green Party proposes ways to kick the habit. Once we are all driving next generation electric vehicles, we won't care what the price of gas is at the pumps and inflation pressures will stop. These new "green" technologies represent a terrific opportunity for sustainable prosperity. The problems south of the border were their own doing, and I believe we in Canada can continue to escape the fallout, especially if we embrace the Green Revolution.
» View all of Adrian's responses to the issues |
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 John Dewar Green Party York-Simcoe
Economic downturns are cyclical and somewhat predictable when viewed from a long term historical perspective. Economic factors that are fueling inflation are primarily driven by market speculation, particularily energy commodities and real estate. Witness the sudden spike in fuel prices just at the mere possibility of a hurricane hitting the refineries in the southern USA. Energy costs drive prices of goods higher and you have an inflationary effect on consumer goods eventually. Unprecedented global economic turmoil that is unfolding currently is the end result of years of reckless deregulation and an incredibly irresponsible financial services sector. The Green Party would ensure that money is keep in circulation through infrastructure works such building high speed rail integrated with regional transit systems within the scope of a new national transportation plan. Tenders would be issued to begin the upgrading of public buildings to reduce heat waste and reduce energy costs. Money invested in infracture as well as for research and development of emerging technologies will help to ensure Canada creates new jobs and increases our competitiveness through value added products that international and domestic markets require now and in the future.
» View all of John's responses to the issues |
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 Sylvia Gerl New Democratic Party York-Simcoe
The financial crisis we are seeing in the United States is largely due to an unregulated market, where risky business encourages risk-taking investors. This is the type of free market that the United States has allowed, and we are seeing now where that leads: debt, deficit, collapse of lending institutions. This is the type of free market that Mr. Harper has worked to create in Canada, hand in hand with George W. Bush. One role of the federal government is not only to create and enforce safety measures. In that role, the NDP will encourage more independence from the United States. Not being an economist, I have a very rudimentary understanding of investment "tools", but I know that if Canadians reward companies who do business here instead of shipping jobs overseas, and if we invest in green businesses created here, we will not be devastatingly affected by our interdependence with the US. We are so rich in natural resources, that it seems easiest just to sell them, but we are missing manufacturing opportunities that the NDP would encourage.
» View all of Sylvia's responses to the issues |
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 Vicki Gunn Christian Heritage Party York-Simcoe
The CHP would put Canadians to work thus stimulating our economy. Our infrastructure improvement loan would ensure that our infrastructure is healthy and that Canadians have work. We have followed the model used after WW2. 2 million vets were returning home without employment. The Bank of Canada was ordered to issue, interest free, loans to provinces and municipalities for infrastructure improvement. As it was repaid, the money was withdrawn from circulation to prevent inflation. This launched the biggest building boom in Canadian history. We were left with healthy infrastructure which is deteriorating seriously today. We will eliminate the income tax and institute a National Retail Sales Tax to stimulate the economy. Canadians would be encouraged to work because the government is not getting the 'first fruits' of our pay cheques. Taxes will be applied to money spent rather than money earned. It puts Canadians in charge of the amount of tax they pay; eliminates complicated tax returns which none of us really understand; protects our right to our private property, which is what our earnings are; decreases the cost of following up on tax evaders because it will be necessary to follow up on businesses only, not every working Canadians.
» View all of Vicki's responses to the issues |
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 Judith Moses Liberal York-Simcoe
One of the key principles of Liberal government is a focused commitment to sound budget management. The Liberal party platform states "Fiscal discipline is now part of the Liberal DNA". Following a Conservative Mulroney government our party took a huge Deficit and turned that into eight years of surpluses, and it's a legacy that I'm proud of. Our economy is very different from the USA's on a few major points, so our economy is on slightly firmer ground. But since we export over 70 per cent of our goods to America, when our biggest customer is in trouble, we should be concerned. We need to rethink what the focus of our economy should be. Should we put money into research and development for new, Green technologies? Should we make large wholesale investments in our infrastructure? Should we invest in retraining and post-secondary education, to keep our workforce at the leading edge of G8 countries? I think the answer to all these questions is the same. Yes.
» View all of Judith's responses to the issues |
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 Paul Pisani Progressive Canadian York-Simcoe
Only through judicious spending can the government play a role in reducing its contribution to inflation. Demands always exceed available funds so there must be prioritization. Recession in my view is a danger that must be prepared for. Rather than asking York Region to come up with job creating works programmes when it hits (as hit it will) funds being provided now to have priority labour intensive programmes engineered and passed through all environmental tests now so they can be brought off the shelf and put into effect come hard times is a direction I hope you would support.
» View all of Paul's responses to the issues |
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 Peter Van Loan Conservative Party York-Simcoe
Our government has adopted a balanced and disciplined approach in the past 2.5 years. We controlled our spending and made major tax cuts. We are the only G-7 country with a balanced budget today. We have paid down $37 billion against Canada’s national debt. We invested in several sectors of the Canadian economy: the manufacturing sector, the automotive sector; and infrastructure. We invested heavily in research and development, in the aerospace sector and state-of-the-art technology. Our government introduced an ambitious plan to cut taxes on jobs. In 4 years, all companies in Canada will have the lowest tax rate of all major industrialized countries. We accelerated the reduction of income tax rates for small businesses. We brought this rate down to 11 per cent this year, one year earlier than initially planned. We increased the lifetime capital gains exemption for small business owners, from $500,000 to $750,000. We announced a new science and technology strategy, a strategy that will stimulate advanced research. We updated the Canada-U.S. Tax Treaty to facilitate cross-border investment and trade.
» View all of Peter's responses to the issues |
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