WHITHER THE SENIORS PRICE INDEX?

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.