Green Party economic stimulus package
This is what Canada’s economic stimulus package would have looked like if the Green Party had been in charge …
The current financial crisis and attendant economic downturn is a grave concern. Nevertheless, it creates, as do all moments of crisis, an opportunity for innovation and creativity. It is clear we must not allow speculative bubbles to threaten the real economy. Real jobs building real things in Canada should be favoured over short-term, speculative and largely imaginary, economic activity, such as, hedge funds, and pyramid schemes. A “made in Canada” policy should apply to all government purchases–military equipment, Coast Guard vessels, etc. Shipping government contracts overseas or down south is unacceptable while thousands of manufacturing jobs are being lost here in Canada.
A consensus has emerged among governments around the world that policies aimed to balance budgets will only deepen and protract the economic crisis, and so, many countries are now embracing deficits and government spending. Canada should embrace this new approach, but the pendulum must not be allowed to swing so far as to allow for structural deficits that will keep Canada in a weakened position long-term.
The stimulus spending should stay within the International Monetary Fund guideline of 2% of GDP to kick-start the slowing economy. The new economic climate should not be used as an excuse for ideologically driven measures such as those promoted in the November Economic Statement, or to unnecessarily weaken Canada’s environmental regulations and legislation.
Canada anticipates much of what will be in President-elect Barak Obama’s stimulus package. His call for a Green New Deal has been endorsed by UN Secretary General Ban Ki-moon. Such a Green New Deal will do more than bail out failed industries and will not just throw money at all of our problems. A Green New Deal will stimulate economic activity while shifting the economy to a more sustainable path.
In the Green Economic Stimulus Plan, government spending will be an investment in the future of Canada. Every dollar spent must benefit Canadians today and tomorrow. This Green Economic Plan will create jobs that are sustainable, increase the health and quality of life for future generations, and help create an economy that is resilient against sudden shocks.
Guiding Criteria for Economic Stimulus Package
- Create new jobs and stimulate the economy within Canada, emphasizing local and regional economies;
- Capitalize on the opportunity to build long-lasting infrastructure;
- Invest in renewable energy and energy efficiency and help shift Canada’s economy for the low-carbon demands of the future;
- Extend Canada’s Social Safety Net and Provide Tax Relief.
| — Adriana Mugnatto-Hamu on 2009 Feb 7 in Ecology & sustainability |
Here’s an idea – have the feds put a solar power array, a solar water heater (especially for those with swimming pools), and a wind turbine on the roof of every community centre and school in Canada, and let them reap the benefits. they could use the money saved to buy books, computers, or anything else.
Next, do the same for all the government buildings. This will provide not only an economic stimulus (very labour-intensive) but massive future savings of tax dollars spent.
How do you pay for this? Tying it to a carbon tax that will never happen is wrong. Create a green bank for lending – or better yet print money and give it to green infrastructure. See page 2 of my GPC blog on Green QE