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Mike Blais Post CVA

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Mike Blais Post CVA

Post by Guest on Sun 23 Oct 2016, 08:21

Mike Blais Post CVA .

Okay, there are many issue with this document to which I have taken issue with. The CVA was the singular dissenting member of the advisory on the the cental promises to re-establish the lifetime pension , of which there was but one, nt this bastardized model that ONLY applies to those who fit the criteria of the model, not all as did the Pension Act's universal respect for sacrifice.

The now prime minister of Canada promised to "re-establish" the life time pension, as noted, there was but one to re-establish, the pension act provision that were accorded equally and with out reservation to those who have offered sacrifice on behalf of Canada. Trudeau promised that he would respect national sacrifice, raise the LSA to reflect the valour imparted by Canada['s sons and daughters on the battle fields of Afghanistan and now Iraq. More importantly, he o0ffered the valiant to opportunity to return to the Re-established lifetime pension, a standard of equality to whi8ch we have fought for since CVA conception.

These promises have all be broken.

The Pension Act provisions that accorded to the wounded pre-2006, the lifetime non-economic, tax free pension to them, their spouses and their children until they leave the roost for higher education in recognition of national sacrifice will not be "re-established."

Instead, the government has rallied unto a new vision, one that does not serve nor respect the extraordinary sacrifice selflessly offered by Canada's sons and daughters since 2006.

let us not forget that, since the NVC was enacted, 150 men and women died on the battlefield and many, many others returned with wounds of mind and/or body that would take their lives. Lest we forget the brave of operation medusa, or the valour of the many deployments that followed until the deployment concluded.

Why is there sacrifice not worthy of the same level of respect as those who served, bled and died in Afghanistan from 2002 to 2006? Why has only one advisory member fought for the promise to re-establish, not use this as an opportunity to create a hybrid policy never conceived or promoted during the election or to deny the NVC memorial cross families and the wounded the same level of respect for sacrifice?

For Sacrifice? Note under fairness how the advisory has compared the Pension Act sacrifice award to the VAC Earnings loss replacement program. Is it not extraordinarily disingenuous to compare ELB to the sacrifice award when ELB was modeled on SISIP ? Is not the award the nation accords for Sacrifice through the pension act to be compared to the New Veteran Charter's LUMP SUM AWARD?

Do they think the wounded are stupid?

That as clients of these programs, we cannot tell the difference between the economic stream and the sacrifice awards? To see the profound discrepancies that the New Veterans Charter Created, that we have been "outspoken" on....

The advisory has affirmed, albeit the CVA SINGULAR DISSENTING VOICE, the 360 thousand dollars threshold for the Lump Sum Award is satisfactory, they will compare the extraordinary battlefield sacrifice of thousands of Canadians who served in Astan at the height of combat to a court appointed ruling in Ontario that implemented a "capped" award.

They do no respect the solemn mandate of the Pension Act, they believe that those who sacrificed were merely injured through negligence, (dumb asses, eh?) at the work site, that the extraordinary trauma they sustained on the killing fields of Afghanistan, or bore witness to in former Yugoslavia, Rwanda, Haiti, Somalia.... is worthy of no gratitude by a nation. is worthy of no respect from a nation. is worthy of no recognition by a nation.... no, you are just a workplace casualty to be showcased one day a year for remembrance than abandoned like used wreaths.


The Sacred Obligation must be fulfilled.

There must be equality, full equality, in recognition of national sacrifice, not selective through EXCLUSIVE criteria

Consequences of appeasement? All future "life pensions" will be based on this number, the long promised choice already exists in the current model, one fellow told me if he divided the chump sum award over fifty years it was under twenty bucks a month when, if he would have been on Pension Act, were his sacrifice honoured equal to mine and a majority of clients of VAC, he would be entire to over fifteen hundred bucks a month.

The disparity in "Recognition of Sacrifice" is obscene. These legs, arms, eyes, ears, bodies and minds are simply not going to heal or grow back, the consequences of war cannot be compared with workplace injuries and twenty buck a month sacrifice recognition for him when someone who sustained the same wound a year earlier under the old system is obscenely disparate

What the hell have we become when our so called stakeholders will not fight for the Sacred Obligation? Some of these advisors represent no one but themselves or six, some have never served many are not even clients of VAC. All have long standing organizational agendas

Think about it.

The CVA was founded on the foundation of equality in recognition of national sacrifice. We believe that the standards were set on the level through the pension Act and the decades in which is served the valiant is respect to the sacrifice award. We also believe that there are marginal improvement proposed on the economic level that would be help full TO ALL VETERANS, that the streamlining envisioned was designed to bring economic support elements under one element of control post age 65 and that all veterans who were deemed TPI on SISIP or ELB would be included in the RISB format.

More to follow, need a break, cant sit anymore.

Minister’s Policy Advisory Group
Skip to "Have Your Say" form
Have your say!

Financial Compensation Model
A Work in Progress
Background - Who we are

We are 9 members including Veterans and representatives from Veterans organizations

We have had 4 face-to-face meetings and 4 teleconferences since February

We are unique in that we are Veteran led with support from VAC

Our focus has been to develop recommendations for the Minister for Budget 2017

We are a “work in progress”



Goals and Outcomes

Deficiencies and Challenges


Chapter One - Recommendations
Strategic communications
Income Support
Pain and Suffering
Support to Families
Support to Low Income Veterans
Summary of our Model

Chapter Two – One Veteran One Standard

Our Task from the Deputy Minister

Review the current financial compensation provided to all ill and injured Veterans and their families

Identify deficiencies and challenges

Make recommendations to ensure life-long income support and recognition of pain and suffering

Goal and Outcomes

Goal – Ensuring life-long financial security and fair compensation for pain and suffering for all veterans and their families
Category Outcome
Income Support

Reasonable financial security for life for those that can no longer work

Receive what a Veteran would have received had they served a full career in the CAF with due regard for normal career progression
Pain and Suffering

Fair compensation for the effects of a service related injury or death and compensation for exceptional incapacity

Recognition of sacrifice
Education and Rehabilitation

Engage and participate in meaningful education and rehabilitation programs based on member’s need to achieve full potential. This is good for the member, their family as it is for the nation.
Key Deficiencies and Challenges


There is a disparity between the financial compensation in the Pension Act and the NVC.

The offset and taxation requirements of NVC benefits results in a further disparity with Pension Act benefits.

Disability Pension is based on level of disability, while ELB is based on salary at release.

There is no monitoring of outcomes to determine program effectiveness and impact on veterans and their families.

Pain and Suffering:

There is a lack of compensation for exceptional incapacity within the NVC as compared to the Pension Act.

The eligibility requirements (98% disabled) of the Exceptional Incapacity Allowance in the Pension Act is too restrictive.

Critical Injury Benefit eligibility criteria is too restrictive focused only on physical injuries.

The Death Benefit is provided only to the survivors of married Veterans.

Income Support:

There are different standards/requirements between the SISIP LTD and VAC VOC REHAB programs.

There is a lack of compensation in the NVC for loss of career progression.

There is a need for an incentive to encourage employment while participating in the voc rehab program to permit a Veterans to find meaningful purpose.

Post age 65 income support in the NVC is insufficient.

Survivor benefits in the NVC are inadequate.

Family Support:

The NVC does not provide compensation to caregivers or recognize the impact of injuries on the family.

Financial Compensation Model - Objectives

Resolve the disparity between Pension Act and NVC

Ensure no Veteran under the NVC would receive less than a Veteran under the Pension Act for the same disability or incapacity

Ensure benefits and programs that are fair and meet the needs of all ill and injured veterans and their families

Implement a “One Veteran – One standard” approach to benefits

Communicate to CAF members, veterans and their families using Veteran-centric plain language
Strategic Communications

The evolutionary changes to Veterans benefits in 2006 needed to be proceeded by an extensive communications approach to create a level playing field for the positive impacts of change and establish success for veterans and their families.

However, the introduction of the NVC in 2006 was a hasty process, absent by a communication strategy and a solid communication plan, and as a result doomed VAC to a perpetual reactive status

The result was an almost total lack of credible information available to both internal and external stakeholders and the messaging was overtaken by the most vocal critics

The majority of veterans (and Canadians) would have been pleased with the wellness focus of the NVC but never had a chance to learn about it


A tailored communication strategy and plan be developed, tested and implemented that will frame the pending changes in terms of veterans wellness particularly in areas where programs did not exist previously or were ineffective in achieving their aim
The messaging needs to reach all Canadians, Veterans and their families.

Rehabilitation and Income Support

Income Support and Rehabilitation Programs (SISIP and VAC)

While in 2006 CAF/VAC committed to harmonize the two programs, today there are two programs with different funding models, different eligibility criteria, different assessment models and the benefits are not aligned

Eligibility for VAC Voc Rehab provides benefits for service and non-service related releases within 120 days of release and after 120 days to those with a barrier to re-establishment related primarily from service

If universality of service is a CAF mandatory employment requirement, then medical release under this condition must be considered a service related factor for Regular Force members

The programs do not provide incentives to work and develop self fulfillment


Eliminate SISIP LTD/VOC Rehab and place all LTD and VOC Rehab under VAC for all service attributable and non service attributable medical releases with no premiums – ONE PROGRAM/ONE SERVICE DELIVERY MODEL

For ELB permit a minimum threshold of earned income to encourage work and remove this disincentive

Immediate - Short Term


The Policy Advisory Group sent a letter to the Minister of Veterans Affairs on 14 July to express concern with the impact of the 1 Oct 2016 90% increase to ELB benefits on SISIP recipients

This issue - The expectation of veteran stakeholders is that an increase to ELB would apply equally to all SISIP LTD recipients regardless if the medical release is service related or non-service related.

The intention of VAC is to “top-up” the SISIP LTD payments through the VOC- REHAB and ELB program provided the veteran’s release and rehab need is SERVICE RELATED.”

Different standards of compensation is not supportable given the nature of military service and mandatory requirement of universality of service


This is unfair, discriminatory and must be resolved - Harmonize SISIP LTD and ELB to 90% for all recipients immediately.

Income Support

Permanent Impairment Allowance (PIA)/Career Impact Allowance (CIA)

Budget 2016 expands access to higher grades of the PIA and renames the benefit “Career Impact Allowance” to better reflect the intent of the program and provide compensation for loss of career progression.

This change to PIA does not provide guidance as to how veterans will be compensated for loss of career progression.

Canadian Courts apply the concept of future loss of income – Why should an injured Veteran receive less than a civilian?


Short-term to reflect Budget 2016 changes - establish a simple methodology to determine “loss of career progression”

Long-term for Budget 2017 - consolidate ELB and CIA (previously PIA and PIA(S)) income support benefits to provide a single stream of income, include a “projected career earnings” approach and non-taxable (to parallel the Pension Act benefits)

The concept should reflect - what would the veteran have earned if the veteran had not been injured

Access to the benefit should be available throughout the lifetime of the veteran providing a safety net that includes both pre and post release income

Continue for life and eliminate RISB

Income Support Post Age 65

Retirement Income Security Benefit (RISB)

This benefit provides only 70% of what the veteran had been receiving from VAC less offsets, it does not provide sufficient financial security post age 65

Even with the Budget 2016 enhancements to the PIA and ELB veterans at age 65 will still be disadvantaged

Under the NVC the impact on surviving spouses is even more adverse by applying a 50% formula to reduce benefits at age 65


ELB/CIA payments continue for life as is the case for Pension Act benefits and eliminate RISB

Surviving spouses should be entitled to 70% of this amount parallel to the CFSA Survivor benefit in the Mandate Letter

Pain and Suffering

Disability Award/Exceptional Incapacity Allowance

Budget 2016 increased the Disability Award to a maximum $360,000.00 which now parallels the maximum that the Canadian Courts award for non-economic damages, and as recommended by Veterans organizations, the Equitas Lawsuit and the Veterans Ombudsman

There is no compensation in the NVC to recognize veterans who have suffered an exceptional incapacity with life-time health effects similar to the Exceptional Incapacity Allowance in the Pension Act

Death Benefit

The Death Benefit is provided only to the survivors of married Veterans.

Critical Injury Benefit (CIB)

The eligibility criteria is too restrictive, focused only on physical injuries


Extend EIA to NVC recipients to recognize veterans who suffer an exceptional incapacity

Lower the eligibility criteria for EIA to cover those veterans under 98% disabled and who are confronting extraordinary incapacities as a result of their service-related disabilities

Improve the eligibility criteria for CIB to include mental health injuries

Extend eligibility of the Death Benefit to the families of all deceased Veterans

Support to Families

Caregiver Benefit

The FCRB does not provide adequate financial support for veterans where significant needs of care must be provided by an informal caregiver who is often the spouse or parent

Attendance Allowance, under the Pension Act, recognizes this support and provides up to $20,000 a year of non-taxable benefits to those veterans in significant need of attendance

Support to Families

Under the NVC there is no income support provided to the family similar to that which is provided under the Pension Act


Introduce a modernized attendance allowance payable to informal caregivers to recognize and compensate for the significant effort and economic loss to support injured veterans and ensure access reflects consideration for effects of mental health injuries.

Introduce a new Family Benefit for all veterans in receipt of a Disability Award that would compensate for the size of the family similar to the benefit provided in the Pension Act, Disability Pension

Support to Low-income and High Risk Veterans

Currently, there is no financial safety net for those veterans who are low-income or at high risk of homelessness or homeless

War Veterans Allowance was established to provide a financial safety net to all low income veterans (for WWII and Korea War veterans only)

CF Income Support Program under the NVC provides a financial safety net for veterans who complete the rehab program and cannot find work


Establish a financial safety net for all low income veterans to recognize their sacrifice and service to the country.

Chapter One - Our Model
Category Benefit
Pain and Suffering

Disability Award
Exceptional Incapacity Allowance
Critical Injury Benefit
Family Caregiver Relief Benefit
Clothing Allowance
Detention Benefit
Death Benefit to all Veterans

Income Support

Single stream - ELB/CIA benefit
ELB baseline income replacement – 90% and taxable
CIA with compensation for career impact, payable for life and non-taxable
Opportunity to earn a minimum income with no offset
Monthly Family Benefit
Caregiver Benefit (Attendance Allowance)
Survivor Benefit – 70% of Veterans “single stream of financial income”
Low Income Support Benefit
*Eliminate RISB, SRB, and CFIS

Note - Bold text highlights recommendations
Chapter One - Summary

The enhancement of ELB/CIA as a single stream of income for life, the addition of EIA, Attendance Allowance, a new monthly family benefit and a new benefit for low-income veterans will ensure all veterans receive the care and support they deserve, when they need it and through their lifetime

Plus, the elimination of SISIP LTD and voc rehab program will ensure all veterans have streamlined and simple access to voc rehabilitation and income support when they need to focus on wellness and re-establishing self-fulfillment

By bridging the best parts of the Pension Act and the NVC and enhancing or adding new benefits, our Chapter One:

represents a good first step to addressing the disparity between the New Veterans Charter and the Pension Act

provides a form of “life-long pension” for those veterans who qualify for the benefits proposed in our model

Chapter Two - Ensuring One Veteran - One Standard

The Elephant in the Room is the disparity between the Pension Act and the NVC

To achieve “one veteran one standard” it is our ongoing task to ensure that no veteran under the New Veterans Charter should receive less compensation than a veteran under the Pension Act with the same level of disability or incapacity:

We are concluding that there are better options than simply returning to the Pension Act and we will continue to look for the best solution to eliminate the disparity and achieve one veteran - one standard


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Re: Mike Blais Post CVA

Post by Guest on Sun 23 Oct 2016, 12:13

good post from mike . again these guys are idiots .



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Re: Mike Blais Post CVA

Post by 1993firebird on Sun 23 Oct 2016, 18:17

ya , what he said. LOL

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Re: Mike Blais Post CVA

Post by Teentitan on Mon 24 Oct 2016, 13:02

Buckle up!
Keep your arms and legs inside during all movement!
There are vomit bags in the seat pocket in front of you!
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Re: Mike Blais Post CVA

Post by Guest on Mon 24 Oct 2016, 17:52

nope very few things for vets will be in it . in my opinion . these idiot went right where the GOC wanted them to .

you have seen it time and again as well as I have . when public opinion forces them to they agree to a royal commission or some thing like this just as a delay because they want to drag it out then do the minimum and make it look great .

they know their would be a lot of recommendations from any commission ore report from a AG or committee . how many times do they act on EVERY recommendation ? heck how many times do they act on HALF ? and then the recommendations are not acted on intended but minimized as much as possible .

they have been doing this for decades !!!!

heck the GOC played this game well . this game of public opinion they have been playing for a long time now and have become exceedingly good at it . heck they did it closely to how I would have recommended they do it . if of course I was advising them and an evil prick ta boot .

so in that sense my hats off to them bravo you pricks bravo .

I mean a pile of recommendations like this with a lot of new stuff just perfect .

absolutely perfect !!!!

heard a politician on a committee in reference to vets recommendations once say something like lower the number of recommendations . that was a sigh of relief and an inside joke . one I got . he was just laughing at us . at the time their was a distant but real fear they would have only one recommendation . replace the buyout with the PA pension .

that would frackin suck . no study required . no lengthy committee consultations and debate . no actuarial . years of delay lost . the PA pension is what it is no way to marginalize or minimalize it and no way to reduce it . worse thing of all only one recommendation now way to do one two or three minimalized of course and say they followed the recommendations of whoever . just a yes or no and to them that sucks .

yup they broadened the scope a bit for this thing to make it difficult to come at them with one recommendation but they still could have done it anyway . I would have advised the GOC to broaden it even further to make that one recommendation impossible AT ALL COSTS .

this was the perfect situation for vets because they could have came with one recommendation not possible in most if not all of commissions and such . also the recommendation would be perfectly in line with what the sitting GOC has promised .

most of this is all academic stuff the kind of thing these people all know unless they have been living under a rock for like their whole lives and it don't take a rocket scientist to figure out the rest .

I mean really ??? what do these people need a slide rule to figure this out ????

again .

idiots .

always question authority



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Re: Mike Blais Post CVA

Post by Guest on Tue 25 Oct 2016, 06:18

Kent will be implementing from those 15 promises set out in he's mandate letter.

The bureaucrats will be the ones bringing forward the legislation.

Anything outside of this will be considered only if reflects in one way or another what the bureaucrats have already tabled.



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Re: Mike Blais Post CVA

Post by 1sea0shell33 on Tue 25 Oct 2016, 09:50

This budget will i believe see most of the remaining issues settled. Once done Trudeau government will go down in history as one of the best governments for veterans.  I cant think of anytime where we have seen so many improvements.  As for the budget even the bank of Canada  governor stated Trudeau should be spending more to support the economy.  Theres finally a  sense of achievement happenning in this country. FINALLY!

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Re: Mike Blais Post CVA

Post by Teentitan on Tue 25 Oct 2016, 10:40

Your talking money issues only right SOS?

Because I haven't seen any movement, mention, whisper of the 2 wellness centres.  The bump from 2 to 4 years of university.  Homeless veterans getting affordable housing.  Reduced wait times on applications.  Complete hire of the 150 new staff.

And veteranZZ I agree with you there is benefits that are available now that can and do surpass PA payments.

Just read this and thought maybe SOS might want to check his source that says the the Bank of Canada says Trudeau can spend more money

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Re: Mike Blais Post CVA

Post by Guest on Tue 25 Oct 2016, 11:52

the PA monthly pension BY FAR exceeds the buyout . the buyout is about 10% of the PA monthly pension. it doesn't even come close . is their newer benefits in the NVC for transitioning personnel with better rehab and VOC rehab options ? sure they are and were LONG overdue to be added to the PA .

BUT instead of adding much needed programs that would cost the GOC more money they would do it in a way that would save them a pile and called it the NVC !!!

ya the GOC machine worked well it went off like clockwork . but then people started coming under this thing and all wasn't so rosy at least for those covered by the NVC .

then the spin . the GOC trying to show how good it was . I seen the numbers they put out showing that the NVC delivered 96-97% of the benefits the PA did . ya even the GOC spin doctors couldn't put it at 100% as hard as they tried .

of course they used the MAX benefit and left you to assume all disable from 5-100% disability will get accepted for every one of these things and receive the max .

if ya want to swallow that Jonestown coolaid the GOC is serving up be my gust have at er .

I aint drinkin it boys.

if everyone of ANY degree of disability got the MAX benefits from ALL of these programs OR ya somehow think tweaking legislation here and their can make that happen fine ill say it cant be better or the same but ill admit the NVC does come close to the PA.

of course their is the VRAB issue we have had for the past 20 years or so probably goona have for another 20 . their to trip you up not on just the pain and suffering benefit anymore but a whole conglomeration of fracked up pitfalls for vets to fall through . application after application frackin makes me sick . 50% 50 frackin % of our most seriously disabled vets ARE NOT receiving benefits designed for our most seriously disabled vets . I mean WTF .

so until 5-100% disabled vets can get the max for ALL benefits out there not just 50% of the most seriously disable ill have the what program is better with ya ALL DAY LONG !!!

but that is what the GOC wants isn't it not the real conversation we should be having because they hate that one .

the conversation about witch pain and suffering benefit is better .

that's the one I really want to have and the exact one we should be having .

always question authority .



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Re: Mike Blais Post CVA

Post by bigrex on Tue 25 Oct 2016, 12:04

To be honest , there are media sources that will slant things their own way, on both sides of the political spectrum. The Sun is notoriously right leaning, much like Fox news down in the States, so they will always take a harsher view on the Liberals, than say the Globe and Mail.
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Re: Mike Blais Post CVA

Post by Guest on Tue 25 Oct 2016, 23:29

buds just about all the benefits available in the NVC are available to the PA guys I know I'm completely on the PA but collecting the ELB PIA and supp.

so the only significant difference is the pain and suffering payment and the NVC s is worth about 10% of the PAs .

that is fracking massive difference .

so ya see I know the old system and those things ya spoke of The battles, the frustrations, the denials,the disrespect for privacy happened at times with EVERY application and still happen today in the new system but in the new system their are a crap load more applications ta get a fraction of the amount PA guys get .

ya what a fracking improvement .

a guy on the PA gets a pain and suffering benefit that will equal the buyout in 4 to 9 years .

what would you pick ???

seriously its kind of a no brainer ta me . ill take the PA and I did and am very happy with it .

again the only real difference is the buyout .

and now when your at the lower levels of disability its worse than ever SAY 25% or lower or whatever cut off ELB after 2 years no PIA sup or whatnot the ONLY difference would be the pain and suffering benefit . again very small fraction of what it was .

ya got one thing right on the amendments and improvements . but they don't need to be plural
it only takes one . replace the buyout with the monthly PA pension as an option.

that one stroke will bring not just fairness but almost COMPLEAT equality between the NVC and PA .

imagine that all vets being treated equally . crazy I know bet hey I think it may work .

now I believe the monthly pension part of the PA is not only possible but WILL return its inevitable just a matter of time .

what I'm really curios about is why you think the government that brought us this most foul of things this NVC to save millions from the blood of dead and disabled afghan vets and untold billions in the future would change it so it would overwhelmingly exceed the PA at an extremely high cost might I might add but would not bring back equality to the system by restoring the PA monthly pension even as an option at a cheaper cost ????

that puzzles me .

always question authority



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Re: Mike Blais Post CVA

Post by Teentitan on Wed 26 Oct 2016, 11:31

Rex did you even read the editorial? Because if you are calling direct quotes from the Minister of Finance and the Bank of Canada "right leaning" then it's obvious you did not read the editorial. They are quotes.

I read the big papers on topics from the Star, G&M, National Post and Sun. Yes they all have their views but the Sun doesn't care which party is in charge they go after that party to do what they said they were going to do.

SOS said that the Bank of Canada said Trudeau can spend more. In the story I posted they aren't saying spend more.

I posted the editorial to show SOS what I found and if he finds his editorial and posts it then we can compare each story.

Every newspaper, news channel has their own slant, as you said Rex. But if you want to dispute what I posted don't trash what I posted find a news article to counter what I posted.

The editorial is right in their't cannot spend themselves rich. It doesn't work. Just look at Ontario, $300 billion in debt and rising.

I just want to bring some balance to CSAT. If you don't explore all the opinions, editorials, columnists then you can make your own conclusion on the topic.
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Re: Mike Blais Post CVA

Post by Teentitan on Wed 26 Oct 2016, 11:41

I agree with you veteranZZ the life long tax free pension is not coming back.

propat your points are right but you didn't answer what ZZ free pension ain't coming back.

Some basterdized version of a life long pension will be coming and I'm not all that convinced it will be tax free. Because all the financial benefits available under the NVC will still be in play for the non-severely injured veterans.

We are 11 years into the NVC and a lot of "adjustments" have been made like ZZ said and there are still some that need adjusting to bring the financial security of veterans upwards.

Will a life long pension under the NVC help? Hell yeah. But will it be tax free? Who knows and also who knows how it will be calculated in with the rest of the financial benefits available?

February is around the corner. Let's hope these Advisory Groups were not just used as a PR gimmick by the gov't.
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Re: Mike Blais Post CVA

Post by 6608 on Wed 26 Oct 2016, 12:58

Teen here is the story SOS was talking about i believe..........

Canada in a 'very good fiscal situation' to run deficits, says Poloz
Comments support Prime Minister Justin Trudeau's plan to run a deficit of $29.4 billion
Thomson Reuters Posted: Oct 23, 2016 9:09 PM ET Last Updated: Oct 23, 2016 9:09 PM ET

Bank of Canada Governor Stephen Poloz says Canada is in good fiscal shape and shouldn't worry about running up deficits

Canada is in a very good fiscal situation and should not be worried about running up deficits at this point, Bank of Canada Governor Stephen Poloz said in a television interview aired on Sunday.

The comments support Prime Minister Justin Trudeau and his year-old Liberal government, which is set to run a deficit of $29.4 billion in the current fiscal year as it pours money into infrastructure and a tax credit for families.

Pressed in an interview with Global on whether there is a danger to running budget deficits, Poloz said Canada is a long way from that point.

"There is a balance somewhere but I can tell you that I think we're pretty far away from that balance point," Poloz said in an interview with Global's The West Block with Tom Clark.

"Now you're right, there is a balance point in all this but Canada is in a very good fiscal situation so we shouldn't be worrying about that at this time," he said.

Poloz said investing in infrastructure should help companies boost growth, which in turn will help government revenue.

"In the case of a targeted investment by government which is identified in such a way that it will be growth enabling, it's very likely to pay off very well," he said. "That is, it creates more economic growth for all those that use that infrastructure and that, of course, creates tax revenues and the system keeps turning."

He also said leveraging up infrastructure spending using private money, primarily from pension funds, is "a very good plan."

Finance Minister Bill Morneau said on Friday he would consider the recommendation of an advisory council to set up an infrastructure development bank.

On Wednesday, Poloz said the central bank had actively discussed cutting interest rates to help boost the economy but held rates steady as it cut the growth forecast for 2016 and 2017.

Poloz said uncertainty about the U.S. election was holding back business investment and that a declining labour force means Canada's real economic growth rate would average 1.5 per cent "for the foreseeable future."

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Re: Mike Blais Post CVA

Post by Teentitan on Wed 26 Oct 2016, 13:33

Thanks 6608.

Both articles have their merits.

My take away from both is let's not get to close to that point Poloz mentions. Ontario has gone way past that point and we have lost our Gold Star credit rating so I don't want to see Canada at that point.
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