Income Security Agenda

Policy

An Income Security Agenda for Canadians

"There are Canadians working full-time, working hard, that are still struggling to make ends meet. This is unacceptable." 

An Income Security Agenda for Canadians

 

Canadians are stronger when we look out for one another.  When our neighbours do better, we all do better. But far too many are being left behind.

Right now, millions of Canadians are living in poverty. Children, seniors, Canadians with disabilities, the unemployed, and those working part and full-time jobs are struggling to make ends meet. The system is broken, but Jagmeet Singh has a plan to fix it.

Jagmeet Singh’s Income Security Agenda offers a bold plan to help lift Canadians in need out of poverty.  

Jagmeet’s plan will ensure that persons with disabilities, seniors, and every Canadian working full-time, will live a dignified life. Together, we can build an inclusive economy that invests in all Canadians - not only the wealthy.

Jagmeet Singh’s Income Security Agenda will alleviate poverty for millions of people across the country.

Canada Seniors Guarantee:

Canadians believe in taking care of one another. Yet, hundreds of thousands of our seniors are living in poverty. This is unacceptable.

A Jagmeet Singh-led government will implement the Canada Seniors Guarantee to ensure that no Canadian senior has to live in poverty.

  • The Canada Seniors Guarantee will combine a number of existing seniors’ benefits into a single, income-tested benefit. This includes Old Age Security (OAS), the Guaranteed Income Supplement (GIS), the Age Credit, and the Pension Income Credit.

  • By adding the Age Credit and the Pension Income Credit, an additional $4 billion will be added to the core benefits provided by OAS-GIS.

Jagmeet Singh will ensure low and middle income seniors see an increase to their benefits - leaving no senior behind.

 Working Canadian Guarantee:

Canadians work hard and together we’ve built a beautiful country. Yet, millions of working Canadians continue to live in poverty. This is an injustice. A Jagmeet Singh-led government will fight for workers.

As Prime Minister, Jagmeet will introduce the Working Canadian Guarantee:

  • The Working Canadian Guarantee will triple the support under the current system for low income workers.  It will build off of the legacy of the Working Income Tax Benefit (WITB) by incorporating funding from the WITB and the Canada Employment Credit.

  • Similar to the WITB, the Working Canadian Guarantee is an income-tested wage subsidy for workers.

  • Those working full-time on minimum wage will qualify for the Working Canadian Guarantee. Jagmeet’s plan will both expand the generosity of the WITB and slow its phase-out such that those working full-time for the minimum wage will be eligible for the Working Canadian Guarantee.

  • While the WITB is an annual refund, Jagmeet’s Working Canadian Guarantee will be provided in either monthly or quarterly payments.

Together, with Jagmeet Singh’s Better Work Agenda, the Working Canadian Guarantee will help ensure that hundreds of thousands of Canadians have access to decent work, fair wages and benefits, and are not forced to live in poverty. 

Canadians with Disabilities Guarantee:

Canadians believe in lending each other a helping hand - it is who we are.

Over a million Canadians live with a severe disability and hundreds of thousands depend on social assistance. Yet, all too the often the limited support available to those that need it isn’t enough. We can do better.

In a country as wealthy as ours we can ensure that no Canadian with a severe disability is forced to live in poverty.

A Jagmeet Singh-led  government will introduce a progressive, basic income for Canadians with severe disabilities to ensure that they do not have to live in poverty.  

The Canadians with Disabilities Guarantee will:

  • Provide a substantial, progressive, income-tested benefit to Canadians living with severe disabilities.

  • This income will be non-taxable and the federal government will consult with the provinces and territories in its rollout to ensure the continuation and optimization of existing provincial benefits so that there is no rollback of existing provincial benefit levels.

  • The goal of these negotiations will be to help eliminate systemic barriers for Canadians living with disabilities and ensure that with the combined federal-provincial benefits, no Canadian living with severe disabilities will be forced to live in poverty.

 This income guarantee is a substantial new investment that will require a number of funding sources. The program will be funded through a combination of progressive tax reforms including: increasing the capital gains inclusion rate, closing corporate tax loopholes and increasing the corporate tax rate; introducing an estate tax; and introducing new tax brackets on high income earners.

Tax Fairness Agenda

Canadians know that when we look out for one another, we all do better. A Jagmeet Singh-led government will build an inclusive and more progressive tax system that will ask Canadians to invest in one another.

This will be done by closing loopholes that have allowed corporations to avoid paying their fair share and help alleviate poverty for millions of Canadians.

As Prime Minister, Jagmeet Singh will take bold action and build a tax system that is more fair and just.

It’s time to invest in all Canadians, that is why Jagmeet Singh will introduce a broad collection of tax reforms including: 

  • More progressive income taxation

    • Jagmeet will introduce new tax brackets for high incomes earners. This will include  two new tax brackets for Canadians earning $350,000 and $500,000 respectively that are 2% and 4% higher than the existing marginal rate respectively.

  •  Capital gains inclusion rate

    • Capital gains almost entirely benefit the wealthiest Canadians. Jagmeet will ensure that the wealthiest Canadians pay their fair share by increasing the capital gains inclusion rate from 50% to 75%.

  • Estate taxation

    • Jagmeet will implement a 40% estate tax on assets in surplus of $4 million dollars to help build a more equal Canada. Primary residences will be exempt. 

  •  Corporate taxation

    • Jagmeet will ask corporations to pay more and help build a fairer society. He will reverse the corporate tax cuts of the last 20 years and increase the Corporate Income Tax to 19.5% from 15%.

    • Jagmeet will bring an end to corporate perks. Corporate tax write-offs for box seat tickets and expensive meals will end and corporations will be asked to pay their fair share.

  • Tackling tax avoidance, evasion, and loopholes

    • Jagmeet will make sure the Canada Revenue Agency has the resources it needs to combat tax evasion by providing additional resources for data collection and auditing teams.

Jagmeet will also establish a Tax Fairness Commission. It has been 50 years since the Carter Royal Commission on Taxation and a lot has changed in that time. As Prime Minister, Jagmeet will create an expert commission tasked with recommending a path forward to making the Canadian tax system more progressive and balanced, so the wealthiest in our country are paying their fair share. This will include a review of all existing tax credits, deductions, and the TFSA.

 

 

If you like Jagmeet's income security agenda for Canada, commit to putting Jagmeet first on your ballot.


Authorized by Jagmeet Singh