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New Democrats release details of how party would pay for election promises

VANCOUVER – Jagmeet Singh’s New Democrats have joined with other major parties in disclosing details of how they would pay their pledges ahead of the September 20 election.

Singh told a Vancouver press conference that the NDP is the only party with a plan to ensure the super rich pay their fair share while making life more affordable for ordinary people.

The NDP’s commitments total $ 214 billion over five years, with projected revenues of $ 166 billion according to the estimates of the Parliamentary Budget Officer.

The costliest area is health care, with proposed spending totaling $ 68 billion.

The party says those costs would cover its universal drug plan, investments in long-term care, and dental and mental coverage for those in need.

Other important elements of the encrypted platform include spending $ 26 billion on various initiatives to tackle climate change and support energy workers in the transition, as well as $ 30 billion. dollars earmarked for reconciliation with indigenous peoples.

The NDP plans its proposed wealth tax, lowering the capital gains inclusion rate to its 2000 level, lowering the corporate tax rate to 2010 levels except for small businesses and cracking down on havens tax, would generate $ 166 billion in revenue over five years.

The platform also describes how Canada’s debt as a percentage of GDP would drop to 45.8% from 48% over the next five years under an NDP government, a ratio slightly lower than the 46.5% projected by the Liberals for 2025-2026.

When asked at a previous press conference why the NDP waited nine days before the election to release their encrypted platform, Singh said it takes time to work with the Parliamentary Budget Officer and that their plans would come as no surprise to Canadians.

This report by The Canadian Press was first published on September 11, 2021.


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