Unifor helps bust common myths about government finances

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A cartoon shows greek god with a downward trending chart and a handful of money.

November 16, 2020

TORONTO—Unifor has published a new tool for working people to make sense of the government spending undertaken to prop up the economy and keep Canadians working.

“Extraordinary times call for extraordinary measures—but that doesn’t mean that working people can’t be part of the conversation about our taxes, the economy, and Canada’s fiscal policy,” said Jerry Dias, Unifor National President. “Working people have the most at stake when it comes to the economy and Canada’s social safety net. We are helping to de-mystify government spending and give Canadians the tools to analyze the decisions being made in their name.”

Myth-busting government debt: How deficits and spending foster growth discusses common myths about government spending and explains key differences between how government finances should be understood. Unifor believes Canadians should draw a distinction between their own pocketbooks and the wider operational considerations of the federal and provincial governments.

“Decades of outdated theories and talking points have conditioned people to believe that government debt and deficit is always bad. That is just not true,” said Dias. “Government deficits should be viewed as a deliberate strategy to spur economic growth and bolster the foundation for an economy that works for everyone.”

Unifor’s myth-busting paper is the latest in a series of policy documents released under its Build Back Better project. Build Back Better lays out economic policy proposals to redesign Canada’s economic programs, its social infrastructure and public services to build an inclusive, fairer and more resilient economy.

Unifor is Canada’s largest union in the private sector, representing 315,000 workers in every major area of the economy. The union advocates for all working people and their rights, fights for equality and social justice in Canada and abroad, and strives to create progressive change for a better future.

For media inquiries or to arrange interviews via Facetime, Zoom, or Skype please contact Unifor Communications Representative Ian Boyko at @email or 778-903-6549 (cell).