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Home World Affordability in Canada is at a crisis point — and politicians don’t have an easy fix

Affordability in Canada is at a crisis point — and politicians don’t have an easy fix

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For Canadians like Missy Anderson, the cost of living is becoming a crisis.

She is 38 years old, a mother of four, and lives in Burlington, Ontario. Like many Canadians, she has had to make difficult choices about how to spend her money.

“It’s a juggling act,” she said in an interview with CBC. The House which aired on Saturday. In addition to the cost of feeding and caring for her children, low-dose chemotherapy to combat stage 1 cervical cancer presents another challenge for the freelance writer.

Inflation rose 7.6% in July compared to the same period last year. This was her first monthly decline since 2021, but the cost of living is still weighing on Anderson’s budget, and she wants support from politicians.

Listen | Which political party has the best plan to fight inflation.

CBC News: House17:09Which political party has the best plan to fight inflation?

Missy Anderson, mother of four, discusses the challenges of coping with the cost of living, while experts Trevor Tombe and Sean Spear discuss the politics and policies of possible solutions.

“They need to understand how the average Canadian lives. They offer benefits that I think they look good on. Things like rent subsidies,” Anderson told host Katherine Cullen.

“If you’re in the area, it doesn’t help. It’s like going to the grocery store twice.”

Anderson wants more help as soon as possible.

The federal government announced new measures this week aimed at supporting the affordability agenda. This includes rental benefits, explained by Anderson, increased GST credits and new dental benefits.

Prime Minister Justin Trudeau said: “These are things that make a difference in people’s lives right now, but they are well targeted and will not contribute to an increase in inflation.

However, opposition leader Pierre Polivre argued that the plan would “add gasoline to the fire” of inflation. Derek Holt, Head of Capital Markets Economics, Scotiabank also criticized Government to launch more spending.

There are no easy solutions to short-term pain

University of Calgary economist Trevor Tombe said: The House The recently announced measures are unlikely to have a significant impact.

However, he noted that it may be difficult to address the underlying problem of inflation quickly, so one of the things the government has to be honest about is to “make it clear that there is not much that can be done in a very short period of time.” and be clear about it,” he said. He said.

Tombe said much of the inflation is driven by global factors and high energy prices, and government policies on spending and transfers may have limited impact. Mr Tombe said the Bank of Canada’s interest rate hikes will also take time to affect inflation.

Bank of Canada Governor Tiff McCrem walks outside the Bank of Canada building in Ottawa on June 22, 2020. Economist Trevor Tombe says rate hikes will take time to cool inflation. (Blair Gable/Reuters)

Sean Spear, senior fellow at the Munk School of Global Affairs and former economic policy adviser to Stephen Harper, says comprehensively addressing the major challenges facing Canada today requires long-term planning. I agree.

“I don’t think we’ve heard enough of the short-term plans from the government to increase supply, but we haven’t heard of the more significant long-term plans. Sectors such as healthcare, housing, energy, where supply is constrained There are so many,” he said.

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Mr. Speer noted that Mr. Poirivre has benefited from tackling the inflation problem head-on, and that there may be an ongoing fight over a federal carbon tax.

“The purpose of a carbon tax is to raise prices over time, but with energy prices rising significantly in the last 12 months or so, there is a risk that the intended rise of the carbon tax will accelerate further,” he said. I got

NDP leader Jagmeet Singh said The House The new announcement, which he touts as a big win, will help Canadians save money by easing the burden of dental costs while other prices remain high.

Listen | NDP Leader Jagmeet Singh Discusses New Benefits of Poilievre’s Victory

CBC News: House9:31Jagmeet Singh lays out dental plan as battle heats up over working-class vote

NDP leader Jagmeet Singh speaks out on new federal measures aimed at easing affordability issues announced this week, reacting to the election of Pierre Polivre as Conservative leader.

But he said the dental benefits were only a temporary plan. He said he expects

But Missy Anderson calls for action now more than promises for the future.

“People have kids, people work hard every day, and they can’t afford to pay the bills. We have to start doing something.”

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