Banks Win—seniors Lose Under Tory Plan

Instead of handing out another $840 million in tax giveaways to Canada’s most profitable banks, New Democrats called on the Prime Minister to remember seniors living in poverty and immediately raise the Guaranteed Income Supplement (GIS).

Charlie Angus says, for seniors struggling to get by, watching this government hand over another $840 million gift to banks, whose profits last year topped $20 billion, just adds insult to injury. “In contrast, over the past 3 years Stephen Harper has raised Old Age Security by just a few dollars. How he expects seniors in poverty to pay for groceries, let alone afford their ballooning home heating bills, I just don’t know.”

For years New Democrats have repeatedly raised the fact that over a quarter million seniors are living in poverty, and been met with glib responses from the Conservative Finance Minister. Angus says for an investment of around $700 million a year, Canada can end the tragedy of seniors living in poverty.

“We owe every senior a debt of gratitude, these are the people who built this country and made Canada what it is today. If Stephen Harper can afford billions for profitable banks and oil companies, he can afford more than a dollar fifty for seniors. It’s just common sense.”