Giant grocery CEOs need to pay what they owe so Canadians can get a break: NDP « Canada’s NDP

April 3, 2024 at 7:45 am  Federal, Politics

Jagmeet Singh calls for an excess profit tax in the upcoming budget

HAMILTON—On Wednesday, Canada’s NDP Leader Jagmeet Singh, NDP MP Matthew Green (Hamilton Center) and NDP MPP Monique Taylor (Hamilton Mountain), called on the Liberal government to include an excess profit tax in the upcoming budget.

New Democrats want to make giant grocery CEOs pay what they owe and use the recovered funds to put money back in Canadians’ pockets with a GST rebate and a school food program.

“Food bank usage went up 35 per cent in Hamilton last year while CEO paycheques skyrocketed,” said Singh. “Decades of Liberal and Conservative governments have built a system where grocery CEOs increase profits, and you pay for it. The federal government needs to put in place an excess profit tax to deter price gouging and force these wealthy CEOs to pay what they owe. It’s not right that you pay your taxes then scrimp and save to afford your family’s groceries while wealthy insiders who get rich off the backs of Canadians are getting special treatment.”

When Pierre Poilievre was in government, the Conservatives gave tax giveaways to large corporations and the three big grocery chains didn’t have to pay $2.35 billion in taxes. In March, Poilievre’s Conservatives voted against an NDP motion to make ultra-rich CEOs pay what they owe to put money back in Canadians’ pockets.

“Poilievre’s staff and caucus are made up of grocery executives and lobbyists. Both the Conservatives and Liberals should have to explain to Canadians why they won’t make ultra-rich CEOs pay their fair share,” said Green. “Trudeau and Poilievre are corporate sellouts. They’re not in it for hardworking Canadians getting ripped off at the grocery till. They’re in it to protect corporate profits so you pay more at the grocery checkout and CEOs get a larger paycheque. Canadian families deserve better. New Democrats are on your side. We fight to make CEOs pay, not get richer on your backs.”

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