Flaherty Breaks Promise – Dooms Seniors to Poverty

April 20, 2012

“Out of touch Federal Finance Minister Jim Flaherty breaks his promise and lets down Canadians,” says Manitoba Federation of Labour President Kevin Rebeck. The Minister had an opportunity to help all Canadians through the expansion of the Canada Pension Plan.

“Everyone knows that the best, most cost effective way to keep seniors from living in poverty is to beef up the CPP,” Rebeck explained. “It’s the best way to keep administration costs low and get the most benefit into the hands of seniors. Now Flaherty has turned his back on them and passed up the best opportunity to make seniors secure. Last June, we congratulated him for showing leadership on an important issue, but now he’s abandoned working people to the market.”

The voluntary, private sector based model, that hasn’t worked for more than 40 years, is the main reason why so few Canadians have a decent standard of living when they can no longer work. Provincial governments did consult Canadians on this question and this week a Globe and Mail poll found 83 per cent of them back improving CPP and are opposed to more private sector gimmicks.

“Mr. Flaherty, you have let Canadians down.”