Want NDP support in the next parliament? Tax the rich, says Jagmeet Singh

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This article was published 19/09/2021 (1456 days ago), so information in it may no longer be current.

BURNABY, B.C.— NDP Leader Jagmeet Singh says the one way another party can win his support in the next parliament is to increase taxes on “billionaires.”

Singh made the statement when asked Sunday morning about the “one key issue” that would ensure his NDP supports either the Conservatives or the Liberals if Canadians elect another minority government on Monday.

“It should be really clear: the question of who pays the price in this pandemic. It should not be you or your families, it should not be working class people, it shouldn’t be middle class people. It should be the billionaires,” Singh said.

“So our number one priority is making sure that the billionaires pay their fair share, so we can invest in all the solutions that we need to make sure people’s lives are better.”

Singh, who was in the Lower Mainland of British Columbia on Sunday, addressed reporters from a vacant lot in the city of Burnaby for his last press conference of the federal election campaign.

While the NDP Leader continued to declare he is running to form government, he also acknowledged the prospect of another minority parliament. In his final pitch to voters, he urged Canadians to elect as many New Democrats as possible so that they can push for progressive priorities in the next parliament.

He did not rule out supporting either a Liberal or Conservative minority, stating only that NDP MPs would “fight” for stronger climate action, justice for Indigenous peoples and to address issues like the high cost of housing.

But it was the NDP’s vision to rake in more revenue from the wealthy that Singh said will be the party’s top issue after the election.

The NDP platform calls for a range of increased taxes on corporations and what Singh calls the “ultra rich,” which the party expects would raise more than $150 billion in government revenue to help pay for programs like universal pharmacare, income supports for seniors and people with disabilities, and the construction of new affordable housing.

The NDP wants to create a new “wealth tax” of 1 per cent per year on the portion of household assets that exceeds $10 million. The party also wants to impose a special tax on companies that raked in “excess profit” during the pandemic in 2020, and increase income taxes for corporations and people who earn more than $214,000 per year.

The Liberals are also promising tax increases, including increased corporate income taxes for big banks and insurance companies with annual profits that exceed $1 billion, and an unspecified “dividend” that these same financial institutions would have to pay to the government.

Aside from a tariff on imports of personal protective equipment, the Conservative platform does not project new revenue from taxing corporations or the rich, but it does include a pledge to “overhaul” Canada’s tax system to make it “simpler and fairer.”

The Conservatives, NDP and Liberals also all promise to spend more money through the Canada Revenue Agency to crack down on tax evasion.

Alex Ballingall is an Ottawa-based reporter covering federal politics for the Star. Follow him on Twitter: @aballinga