Thursday, September 22, 2011

Ontario Jobs Anyone? a brief analysis

I think one of the biggest issues in the upcoming provincial election is JOBS! I've seen it all over the media and it's also of personal interest to me as I'm looking for work right now.

So I thought I would do a little analysis of each of the major party's platform strategies for job creation.  Here goes:

Looking at the PC platform there isn't much there regarding any plan or strategy towards job creation except for this statement:
"A Tim Hudak government will focus on letting the job creators – not the government – drive new job growth."
Since when has that ever worked???!!  We've been seeing unemployment rates soar while businesses post record profits and rich shareholders make gains.  It's obvious that the job creators aren't going to use any gains towards driving new growth as shareholders are more important to them.
Anyhow, the PC platform goes on about:

  • Lowering family tax rates
  • Cutting red tape for businesses
  • Lowering corporate tax 
  • Updating the apprenticeship system (however it's unclear and poorly written as to how or why)
-If you are rich, you might get a break on taxes.
-I honestly don't see any other pros.  With all the promises of tax relief(aka lowering government revenue), I don't understand how they will make any of these promises without drastically changing existing services or raising taxes.
-I can't believe people are such suckers for lower tax promises and ideas that privatization will make things like energy, health and education better.  There's no proof of privatization being successful anywhere and all you have to do is look south at their education and health system for proof.  As for privatizing energy, every state(or other governing entity) that has attempted this has failed miserably(most recent is California)
-The only people that benefit from any tax cuts are the rich because for middle-lower incomes, small percentage cute are barely noticeable.  Look at Harper's ridiculous 1% cut off GST! It made very little difference and now the feds are going to have a revenue shortfall to go along with their massive public debt.  see Debt Clock
-Belief that the private sector would ever put people and jobs first is flawed.

The NDP platform has a few ideas around job creation such as:
  • Raising corporate taxes
  • Tax breaks for businesses that provide training for employees
  • Tax breaks for businesses that buy Ontario goods
  • Freezing tuition rates for post secondary education
-The idea of a tax break for business that empowers their employees with training is a great idea
-The world is changing and competition is strong and global.  Although a tax break for businesses buying Ontario sounds like a good idea, it doesn't make sense in the new emerging global market.
-A tuition rate freeze sounds great for students but how are Ontario universities and Colleges supposed to remain competitive and provide the level of education required with less revenue???  They will need more revenue and where are they going to get it?
-With all the other promises of reform and cuts for "struggling families" (that really will benefit the rich more than anyone else) 
-Their ideas are too simple and might appeal to voters but how does the NDP expect to pull any of this off???(all these promises, tax relief, a deficit and a global recession)?  THERE IS A SERIOUS GAP AND FLAW WITH THEIR PLATFORM.

The Liberal platform appears to have been thought out and has actual strategy and theme.  Here are some details:
  • Make Ontario more competitive globally to attract jobs
    • Education
      • Increased early childhood education
      • Summer learning for struggling students
      • Changes to teacher's education programs to increase "hands-on" experience
      • Grants for low-mid income family's post-secondary education
      • Relief with loan payment for post-secondary graduates
    • Incentives for job creators
      • Doubling trade missions to attract global investment in Ontario
      • Promoting innovative businesses in Ontario
      • "Green" energy incentives
      • Lowering taxes on new business investment
      • Continued support of apprenticeship programs
  • Continue to make Ontario people healthy and healthcare more accessible
  • Leadership in Northern Ontario mining jobs and industry
-There is strategy in this plan and it's not shortsighted like the others.  These aren't "band-aid" remedies. Everywhere you look nowadays, you see reference to the global market and Ontario needs to keep up.
-"Green" energy incentives, although controversial, will more than likely make Ontario a leader and innovator in this field.  Oil and coal are going to run out soon and prices are going to keep getting higher.  As we gain efficiency with new "Green" energy technology, it will only get cheaper and attract investment in Ontario expertise.
-The education and employment incentives are targeted where they are needed.  Some might call this "unfair" however I would argue they will make things fair.  The wealthy don't need a break and this country is great and wonderful because of taxes and Canadians who are happy to contribute to one of the best countries in the world.
-There is some amount of risk associated with this plan.
-Criticism (misunderstanding) over "Green" energy will create resistance to change.

FYI - A recent article proving value in "green" energy.

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