There is a growing chorus calling for a BC poverty reduction plan, calling for commitments to this from all political parties ahead of the May election.
But some say, given the economic downturn, we can no longer afford to commit to a bold plan now.
On the contrary, now is precisely when such a plan is most needed and timely. It is most needed because, in the absence of such a plan, we will see poverty increase given the economic downturn. And it is particularly timely because embarking on a plan that quickly concentrates money into the pockets of lower income people is the best kind of economic stimulus. In the current climate, middle and upper income earners will likely save any spare money they have (that’s why tax cuts are such a weak stimulus). But low income people don’t have the luxury of saving (or taking holidays abroad) — they spend everything they have, and do so in their local communities.
That’s why a poverty reduction plan provides great bank for the buck in the face of a recession. For a summary of the CCPA’s Poverty Reduction Plan for BC, click here.