Conservative inaction harming Canadian economy, Cullen says

OTTAWA – Today’s decision by the Bank of Canada to cut its growth forecast to zero is alarming and gives more evidence that the Harper government’s inaction is harming families and communities across the country.

“Our economy is in a very tough spot,” said Cullen, “and the Harper government is still asleep at the switch. Manufacturing sales have slumped and the government is continuing its rampant rip-and-ship model to export as many resources as fast as they can be extracted without any value-added jobs.”

Cullen noted that the news from the Bank of Canada comes out on the same day as a report from the Broadbent Institute, which says that unemployment has grown, job quality is lagging and pay inequality has increased under Stephen Harper’s watch since taking power in 2006. The report notes that the growth of full-time work is being stunted by the growth of low-paying, part-time and precarious jobs. Meanwhile, the employment rate in 2014 held at 61.7%, youth unemployment is stubbornly high at 13.5%, and wage inequality between men and women continues to expand.

“We have been putting forward practical solutions to create good-paying jobs and provide opportunities for families. We have a sustainable, costed plan to support small business and manufacturing, reduce child poverty, and provide affordable, quality childcare for all Canadians,” Cullen added. “But the prime minister has had his head in the sand for months, refusing to listen and refusing to provide a budget that will get our economy on the right track.”

 

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