Greens Concerned Fall Economic Statement Fails to Put People Over Profit
OTTAWA – As Canadians grapple with rising costs and a poly-crisis era, the Fall Economic Statement (FES) falls short of delivering the bold action needed to tackle the pressing issues of our time. Instead of offering new solutions, the government is merely rehashing previously announced measures, failing to commit the funding required to make a real difference on the cost of living and to move forward on even previously committed measures like adaptation to extreme climate events.
“This Economic Statement offers thin gruel for a citizenry starving for real change,” said Green Party Leader Elizabeth May. “It does nearly nothing for housing, nor does it tackle public anxiety as the climate crisis drives up food prices. The measures to reduce interprovincial trade barriers are long overdue but we have heard vague promises to improve inter-provincial cooperation before. Such inadequate actions only deepen public cynicism and erode trust in institutions. The Liberals missed an opportunity to bring meaningful, systemic change to address the urgent needs of our communities.”
The Green Party is deeply concerned that the FES once again prioritizes corporate profits over the needs of Canadians. Large corporations are allowed to rake in excess profits without contributing their fair share, while small businesses and families continue to struggle. Canadians deserve a government that prioritizes their well-being and takes meaningful steps to build an equitable and sustainable future.
“With a federal election looming, this economic statement was one of the last major opportunities for the Liberals had to show up for the promise of a better Canada,” said Mike Morrice, MP for Kitchener Centre. “Instead, they seem more focused on partisan in-fighting and political theatre than to deliver on the ambition Canadians require to meet the multiple crises we face.”
Underfunded Solutions for Affordable Housing
The FES fails to deliver on affordable housing, only providing half measures and no significant amount of funding. Even something as simple as an HST exemption to non-profit affordable home ownership builders was passed over. This missed opportunity underscores the government’s lack of commitment to addressing the housing crisis.
No Funding for Climate Adaptation & Emergency Preparedness
The FES neglects the urgent need for significant investments in climate adaptation and emergency preparedness. With climate disasters such as wildfires, floods, and hurricanes becoming more frequent and severe, Canadians are paying the price for government inaction. The absence of dedicated funding to protect communities, strengthen infrastructure, and support recovery efforts leave vulnerable populations at greater risk. The FES should have included a robust climate adaptation strategy with a significant budget for implementation, an essential piece to mitigate future losses and safeguard the well-being of Canadians. The fact that the FES refers to this summer’s wildfires as “temporary factors” affecting the Canadian economy is a sheer example of the tone-deaf vision this government has for this country.
Lack of Help for People Living With Disabilities
The Canadian Disability Benefit remains dramatically underfunded and inaccessible for many who need it most. The government has not ensured funding levels meet the actual needs of the disability community, nor has it streamlined the application process to automatically enroll recipients of provincial and territorial disability programs. This neglect leaves many Canadians with disabilities in legislated poverty.
A Missed Opportunity: Windfall Tax
The government has also failed to introduce significant new revenue tools, one example being a windfall tax on excessive corporate profits. A 15% tax on oil and gas profits exceeding $1 billion, as proposed by the Green Party, could generate $4.2 billion annually, according to the Parliamentary Budget Officer. These funds could be reinvested in practical solutions like free heat pumps for families in energy poverty and investments in emergency preparedness for a climate crisis that the oil and gas industry is highly responsible for. Instead, the FES allows corporations to profit while Canadians struggle.
The Green Party believes Canadians deserve more than hollow promises. They deserve bold leadership that prioritizes people and small businesses, invests in communities, and holds corporations accountable. The Liberals’ failure to deliver meaningful solutions in the Fall Economic Statement highlights the urgent need for a new approach to governance—one that puts people over profit and takes action to address the crises facing our country.
-30-
For more information:
Audrey-Ann Turcot-Brochu, Director of Communications, Green Party of Canada