The former Liberal finance minister and former Bank of Canada governor comes as the latest poll shows a majority of Canadians support a 10 per cent increase in Old Age Security (OAS) benefits for seniors aged 65 to 74. has warned the government not to pursue policy changes.
More than three in four Canadians support or somewhat support this increase, across all genders and age groups across the country, according to a new Nanos Research survey conducted for CTV News. It has strong support.
Pushing for more OAS is one of two key demands from Quebec to Prime Minister Justin Trudeau’s minority Liberal government.
Bloc leader Yves-François Blanchet has given the government until October 29 to help private lawmakers enact a pair of bills. One of them proposes a 10% increase in OAS for seniors aged 65 to 74. Otherwise, there is a risk that an election will be held before the new bill. year.
Earlier this week, the Bullock used a day of Autumn Opposition debates to table a symbolic motion on the OAS Bill that called on the government to “take the necessary steps to ensure that the Royal Recommendation is swiftly recognized”, and then It was approved. As much as possible. ”
Despite political pressure, two former business executives told CTV News Channel’s Power Play host Vassy Kapelos that the federal government cannot afford to enact expansion.
“This is really bad policy,” said former Liberal finance minister John Manley. “This is not something that should be done universally. Meeting the needs of people, especially the elderly, is very important. But understanding that this is not targeted at the people who need it. This is universal. It’s too expensive. There are many other priorities that the government needs to address long before this. ”
Former Bank of Canada Governor David Dodge agreed. “This is bad economics.”
“The biggest thing we need to spend money on right now is increasing consumption among relatively wealthy people,” Dodge said. “This is a terrible policy, not just for economic reasons, but also for social reasons. This is the most privileged generation.”
While most Liberal MPs voted against the bloc’s pension policy and expressed concerns about the costs of a potential program expansion precedent, the proposal was rejected by Conservatives, New Democrats, Greens and a small number of Liberal MPs. Supported by Patrons.
The vote is non-binding, meaning the federal government does not have to act on it.
After the vote, Blanchett said if the Liberals thought they could get more time on the ultimatum, they should think again.
“They need to comply with the King’s advice within the next few days. If not, we will begin discussions with other opposition parties as soon as next week to prepare for elections. ” said Blanchett. Said.
In an interview with CTV Powerplay on Wednesday, General Government House of Commons Leader Karina Gould did not deny that the Liberals are still seeking a way forward with the bloc.
“I don’t negotiate publicly or talk about those conversations, but I can say that when it comes to good ideas to support Canadians, our government is working together on behalf of Canadians.” I think so,” she said. Said. “We welcome good ideas.”
Asked whether there would be pressure on the minority federal government to acquiesce, given the political dynamics, the House majority and public support for increasing senior benefits, Manley said: “Polls show that today… “We might be able to say something, and we might find out something different tomorrow.”
“In any case, it would be foolish for leaders to follow suit, and they should take the lead. And the polls clearly show that they need to explain to the people why this is bad policy.” I think so,” he said.
Congressional Budget Secretary Yves Giroux said in an interview with CTV’s Power Play last week that it might be “a little bit harder” for the federal government to meet its fiscal base if it acquiesces to the bloc’s demands to expand the OAS. Ta. Giroux calculates that demand carries a price tag of more than $3 billion annually, with a total cost of $16.1 billion over five years.
Last year, Finance Minister Chrystia Freeland promised new fiscal guardrails aimed at reining in spending and deficits.
methodology
The Nanos Research poll conducted a randomized survey of 1,058 Canadians aged 18 and over between September 29 and October 2. Nanos conducted an RDD dual-frame (landline and mobile) hybrid phone and online random survey. The survey has a margin of error of 3.0 percentage points 19 out of 20 times.
