The government continues failing to close tax havens and tax loopholes for the ultrawealthy. While cost of living and prices continue to spiral out of control, large corporations are making record profits off the backs of struggling Canadians.

The super-rich are hiding more than $300 billion in tax havens every year and using tax loopholes to avoid paying their fair share. Closing tax loopholes and shutting down tax havens would save Canadians more than $16 billion every year. This is critical tax revenue that could be invested in things that Canadians desperately need, such as guaranteed basic livable income and a Just Transition plan to help workers and communities move towards a greener, more equitable Canada.

The NDP pushed hard and in Budget 2022, and there is a pandemic tax for banks and insurance companies.This is a start, and we will continue to fight for wealth tax and excess profits tax so that the ultra rich pays their fair share.

According to the CCPA’s study, if you add up all the measures that benefit mostly the wealthy, in 2011 alone, there is more than $100 billon in foregone revenue.

It is high time we close the loopholes and shut down the tax giveaways and reinvest that money into our communities, so that all Canadians—not just those at the top—can have the support they need to succeed.

IN THE NEWS: CITV - NDP 'Greedflation' motion calling for grocery pricing probe gets unanimous support from MPs

IN THE NEWS: CITV - NDP 'Greedflation' motion calling for grocery pricing probe gets unanimous support from MPs

An NDP motion calling on the federal government to take steps to tackle "greedflation," and investigate grocery chain profits, received unanimous support from MPs on Monday. 
The motion called out grocery store giants for making "massive profits in the last year," while the cost of groceries keeps rising. It also calls on the government to "recognize that corporate greed is a significant driver of inflation, and to take further action to support families during this cost-of-living crisis." 
While not binding—meaning the federal government is not forced to act, but will have to take note of the House of Commons' unanimous request—the motion calls on the Liberals to:
•  Force CEOs and big corporations to "pay what they owe" by closing tax loopholes;
•  Launch an "affordable and fair food strategy" to tackle "corporate greed";
•  Ask the competition bureau to investigate grocery chain profits; and
•  Support a previously-agreed upon House committee study calling grocery CEOs to testify about "high food prices and the role of 'greedflation.'"
“After standing by for months, the Liberals and Conservatives finally agreed today that corporate greed is a problem,” said NDP Leader Jagmeet Singh in a statement following the vote.  

MEDIA RELEASE - Liberals and Conservatives protect the profits of big oil companies instead of Canadians

OTTAWA – Today, Liberal and Conservatives teamed up to vote down an NDP proposal to stop giving billions of tax payer dollars to profitable oil and gas companies and instead reinvest that money in Canadians struggling to make ends meet. The government’s rejection of the NDP plan to help Canadians comes on the same day that inflation reached its highest rate since 1991.

“Canadians have been getting crushed by the soaring cost of living. The price of food and gas is so high that people struggling to take care of themselves and their families,” said NDP Leader Jagmeet Singh. “What we proposed today is a way to get money back into people’s pockets to give them a little extra help to cover their growing costs. Its unthinkable that the Liberal government and the Conservatives teamed up to defeat our motion. They think public money should go to the oil and gas companies who are already making record profits instead of helping Canadian families. New Democrats know that’s wrong and we’re going to keep fighting to get people the help they desperately need.”

MEDIA RELEASE - NDP urging the government to defend Canadians getting gouged at the pumps instead of helping big oil companies profit

OTTAWA – As the price of gas reached over two dollars per litre in most parts of the country today, NDP Leader Jagmeet Singh is urging the Liberal government to help Canadians struggling with the rising cost of living. While Canadians are getting gouged at the pumps, big oil and gas companies are making record profits. In a Parliamentary motion, Singh is calling on the Liberals to stop giving billions of dollars of public money to oil and gas companies and reinvest those funds in renewable energy and solutions that make life more affordable for Canadians.
“Canadians have been through a lot in the last two years of the pandemic. They’ve been isolated from their loved ones and now, the price of gas is so high people are cancelling the trips they had planned to see their family and friends because they simply can’t afford the trip,” said Singh. “While people are making these sacrifices, oil and gas companies like Suncor and Cenovus are making record profits. Instead of helping Canadian families with the cost of living, the government continues to give billions of dollars in subsidies to oil and gas companies who are already making a fortune. It makes no sense. New Democrats are calling on the government to stop helping to maximize corporate profits and start defending Canadian families.”

MEDIA RELEASE - Liberals continue to spend billions in Trans Mountain Pipeline funding

“People across Canada are already living with the devastating impacts of the climate emergency. The increase of floods, forest fires and extreme weather has already cost lives.
Instead of taking the necessary action to save lives and ensure Canada meets its climate targets, the Liberals continue to throw billions of dollars at big oil companies. Yesterday, the Liberals announced $10 billion in public funding for the Trans Mountain Pipeline. This is the newest funding in a long line of examples where the Liberals have handed over public money to companies who are already making big profits – making it impossible for us to meet our climate goals. The announcement of the TMX funding comes only a few months after the Liberals promised that no more public money would be thrown at the Trans Mountain Pipeline – yet they continue to make people pay.

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