Monday, April 4, 2011

Layton pledges CPP overhaul

The Toronto Star:

NDP Leader Jack Layton is warning Canadians not to look to Conservative Leader Stephen Harper to make improvements to Canadian pensions.

Layton called for a doubling of the Canada Pension Plan benefits in order to lift many seniors out of poverty. It is a message that the NDP Leader has been delivering for some time now.

The Layton plan would be phased in over seven years, and would include an increase of nine cents per hour more per worker in the first year.

It would cost employers somewhere between $2.50 and $3.50 more per week once implemented.

In addition, Layton promised an additional $700 million annually for the federal Guaranteed Income Supplement.

Layton also emphasized the need to amend federal bankruptcy legislation to make pensioners and workers on long-term disability the priority creditors when their employers declare bankruptcy.

The plight of former employees at bankrupt Nortel has brought this issue to national focus.


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