The Reminder is making its archives back to 2003 available on our website. Please note that, due to technical limitations, archive articles are presented without the usual formatting.
The Retail Council of Canada (RCC) has expressed disappointment that the federal budget did not do more to improve the incomes of Canadians. RCC President and CEO, Diane J. Brisebois, acknowledged the announcement that the basic personal exemption for income tax will be raised but said it is a trivial step in the right direction, at best. "Canadians' real personal disposable incomes have barely moved since 1990, only rising approximately $40 a year," says Brisebois. "The increase in exemption in 2006 will return less than $350 million into the pockets of Canadian consumers. This is less than one thousandth of 2004 consumer spending in retail stores. Obviously, the measures will do almost nothing to improve Canadians' standard of living." Brisebois was also critical of the new rate-setting mechanism for Employment Insurance. "The new process ensures Canadian employers and employees will never see a penny of the $45 billion in overpayments they have made, nor the interest this money has earned. As well, the government has retained its ultimate power to set the premium rate. This means a future finance minister will be able to continue to overcharge premium payers as has been done for the last 10 years."
