The recession has exposed the fragility of the pension situation. About two-thirds of workers in Canada lack a workplace pension program and 1.6 million Canadian seniors at the low end of the wealth scale are trying to eke out an existence on less than $15,000 a year.
Some Ontario consumers could be caught in a never-ending cycle of borrowing from payday loan companies despite a new cap on loan fees and interest that came into effect Tuesday, warns an Ottawa-based public watchdog.
Premier Dalton McGuinty is aware of the problem. "Unwittingly, we have developed a policy that stomps you into the ground," he told Ontarians who rely on social assistance last spring.
Quebec has unveiled a new $60.5 million, three-year plan to fight homelessness, including measures to improve mid- and long-term housing options for people on the street.
In some places the budget was bold, in some places it merely did what it had to do, and other key areas it fell flat on its face. The big picture task of this budget was to fill the void left by the federal government’s weak response to the recession. Hit and Miss: Ontario’s 2009-10 Budget – PDF, 188 Kb.