Toronto By-Election Candidates Focus on Income Inequality

This article was last updated on April 16, 2022

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The Toronto-Centre key candidates expected to lead the face off in the next elections, namely Linda McQuaig and Chrystia Freeland, emphasized on income inequality and the plight of the middle class during a debate organized on Wednesday night. Candidates, both of whom are journalists and authors of books on inequality, favored almost lookalike policies involving a housing strategy, transit investment and strengthening the Canada Pension Plan to strengthen retirement savings.

New Democrats candidate for by-election, Ms. McQuaig, alleged that she envisions a government that will take a considerable role in stimulating economic growth through spending. She stated that “there’s been far too much focus on austerity and not nearly enough on job creation,” while adding that “when business won’t invest, government must.” She critiqued her competitors, including Liberals and Conservatives, for concentrating on corporate tax cuts while former central bank governor, Mark Carney, accuses businesses of sitting on billions of dollars.

On the other hand, Liberal candidate Ms. Freeland opposed her chief rival over the interpretation of the ideas of economist John Maynard Keynes. Ms. Freeland pointed out that in case Ms. McQuaig followed Mr. Keynes’ view of stimulus, she would not favour a corporate tax increase at a time of low economic growth. Ms. Freeland alleged it would be instead more beneficial to boost the Canada Pension Plan Investment Board in order to put money into infrastructure projects in Canada. She alleged that “let’s invest some of our own money on our own infrastructure. Lord knows Toronto needs it.”