Canadian Personal Finance Blog

Archive for November 28th, 2006

Well, I heard on the CBC that the Liberal Women’s Caucus had published their Pink Book and was wondering what the fiscal angle of this was (I knew I wasn’t going to agree with the policies much, because their point of view assumes (incorrectly, in my opinion) that all women want to “work” outside of the household, but I figured I’d see how much this might cost me, if the Liberals regained power).

So the highlights of the policies were:

The Liberal Women’s Caucus proposes that a new Liberal government should:

• Honour the bilateral agreements signed with provinces and territories to provide a system of early learning and child care across the country. These agreements shouldbe protected by legislation. The original Liberal commitment was for $1 billion ayear for five years – this level of support must be reinstated as a minimum startingpoint.

• As a longer-term goal, establish a schedule for federal funding of child care so it reaches one per cent of Gross Domestic Product (GDP) as recommended by the OECD report, Starting Strong II.

• Re-invest the $1,200 per year, per family, provided under the Conservative government’s policy in the Canadian Child Tax Benefit (CCTB). The Canadian Child Tax Benefit (CCTB) is already in place and works efficiently and effectively. By increasing the base benefit by $1,200, the overwhelming majority of Canadian families would receive – and keep – a $1,200 increase in their Canada Child Tax Benefit (CCTB).

• Direct the value of the Spousal Credit – the tax deduction for a spouse at home – to be paid directly to the spouse, who, in most instances, will be a woman.

OK, I couldn’t resist putting it in pink, my apologies. So what are my opinions (since naturally you are very interested in that):

1. How is this $1B over five years going to be financed? That’s an easy one to snipe at, but I figured I’d state the obvious.
2. Federal funding of daycare? What about families that don’t need daycare? Do they get to share in this?
3. You are going to take away my $1200 “… beer and popcorn …” money and reinvest it? Hey, that’s my beer and popcorn money, and you are going to take it away now? Oh, ok, you are going to give it back to me in a credit, ok, I guess, but why do I suspect that Credit gets clawed back, because I am far to affluent for my own good?
4. Spousal credit goes directly to the spouse not working? The language almost implies that the moneys might get taken by the other spouse, so we must be careful to protect that moneys from the greedy spouse!!! Yes, I am being facetious, but still, I always find the wording of this stuff very interesting.

What about Single income families, is my usual comment? Oh and the comment about protecting women from becoming “Barefoot, Pregnant and Tied to the Kitchen” is classic. Whenever my wife was pregnant I made sure she at least wore socks! -C8j