WHITHER THE SE­NIORS PRICE IN­DEX?

ZOOMER Magazine - - ADVOCACY -

The Fed­eral Lib­er­als cam­paign plat­form in­cluded a com­mit­ment to in­dex OAS and GIS at the greater of the change in the Con­sumer Price In­dex (CPI) and the cost of a bas­ket of goods pur­chased by se­niors. This made a great deal of sense. CPI re­flects a wide va­ri­ety of goods, but low-in­come se­niors are much less likely to be helped by de­clin­ing prices for flat screen TVs and SUVs than they will be hurt by sky-rock­et­ing hous­ing costs and util­ity rates.

But com­mit­ments to im­ple­ment the in­dex have been no­tice­ably ab­sent in the Lib­eral’s first two bud­gets. Older Cana­di­ans to­day face un­prece­dented longevity, his­tor­i­cally low in­ter­est rates and high in­vest­ment costs. For far too many, re­lief can’t come soon enough.

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