Private financing wrong direction for Canadian infrastructure bank

A report written by CUPE Economist Toby Sanger warns that private financing of the proposed Canada Infrastructure Bank could double the cost of infrastructure projects, and shows how the bank can instead provide low-cost, public financing for much-needed projects. The study was published by the Canadian Centre for Policy Alternatives in advance of the federal budget, where more details of the proposed bank are expected to be unveiled. Sanger outlines the dramatic shift from Liberal election promises of a bank with low-cost financing to the current plan, which focuses on higher-priced private borrowing. The shift will increase pressure to privatize key infrastructure, and will mean less public funding is available to deliver public services and infrastructure. “No homeowner in their right mind would commit to a loan or mortgage at a rate of 7 per cent or more when they can borrow at 2.5 per cent — especially when it involves locking in over 10, 20 … Read more…

Rally to support NSTU teachers at the NS Legislature

McNeil Liberals have created an unnecessary crisis for Nova Scotia labour relations: CUPE

CUPE Nova Scotia President Nan McFadgen wants the McNeil Government to know they have created an unnecessary crisis in labour negotiations in the province. “Collective bargaining works if all parties respect the process. Our members are at bargaining tables every day, working to find solutions,” says McFadgen. “The McNeil Government, on the other hand, is attacking the hard-earned constitutional rights of workers.” It’s important for the public to know that these attacks not only affect teachers. They also affect more than 75,000 public service employees across the province, including CUPE members who work in education, acute care, long term care, home care, and more. “February 21st was a dark day for labour relations in Nova Scotia. By passing Bill 75, the Premier has created an atmosphere of extreme mistrust between union members and their government,” says McFadgen. CUPE believes Bill 75 is also potentially harmful to students and workers in … Read more…

Five times provincial governments failed with P3 hospitals

A warning for taxpayers in Nova Scotia Time and time again provincial governments are forced to admit they were wrong to use public-private partnerships (P3s) to construct health care facilities, costing taxpayers billions of dollars more than they would spend if those hospitals were publicly owned and constructed. Auditor Generals, researchers and journalists across Canada continue to report on P3 failures and unnecessary waste of taxpayers money, yet here we are in Nova Scotia as the McNeill Government is about to embark on another foreseeable failure. Let’s stop with the misleading jargon and practices and start making transparent, evidence-based decisions. Put our health care dollars into the public health care system, not into construction cost overruns and the pockets of private companies – who may not even be from our province. Keep our hospitals and long term care facilities public. North Bay Regional Hospital – Ontario The P3 North Bay Regional Hospital cost at … Read more…