She wants your savings

[impact]

Good luck with that!
A lot of people have enough common sense to save for a rainy day. It is called financial planning. It allows a person to enjoy a comfortable retirement with a budget staggered over many years. The lump sums they are talking about is just that. They want us to spend to the last dime to get them out of a financial mess they created?
Then what? The socialist government will take care of us?

“unleashing these savings will be a key element of the government’s recovery plan.”

“If it turns out that as things re-open and consumers are still reluctant, then it may make sense for policy to shift.”

The economy was humming along just fine before all the lockdowns. It just did not fit right with the "Great Reset" plan.

https://www.bnnbloomberg.ca/ottawa-e...unts-1.1531766

[fishfood]

Just another joke of a solution

Then what happens to the income it generates? I know some that make more than many alone from interest. And that money won't be just handed off the government lol.

Maybe a few others will hand over their money for a good cause .


Or maybe the money people do have will better the economy later . People will loose but others are there to replace them. It's not fair but that is how it works . Businesses fail all the time pre pandemic and others move in .

What kind of interest rates are they talking about lol. Or do they just want to spend everything. It won't work they are just filled with more pipe dreams.

Unless it makes more than a 100k a year I know some who will not hand over their savings lol.

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[dean.f]

Rather comical, people keep savings for a rainy day.... well it's sure pouring now. I'm Glad I've been fortunate enough to save what I have because there's plenty who couldn't.

Businesses will recover or be replaced. That's just how it will be.

I do like the quote, (from the article)

"Just distribute the vaccine and get out of the way,” said Tal. “There is enough motivation to spend, no need for help.”

I believe that's somewhat true.

[Gilroy]

Good luck with that!
A lot of people have enough common sense to save for a rainy day. It is called financial planning. It allows a person to enjoy a comfortable retirement with a budget staggered over many years. The lump sums they are talking about is just that. They want us to spend to the last dime to get them out of a financial mess they created?
Then what? The socialist government will take care of us?

“unleashing these savings will be a key element of the government’s recovery plan.”

“If it turns out that as things re-open and consumers are still reluctant, then it may make sense for policy to shift.”

The economy was humming along just fine before all the lockdowns. It just did not fit right with the "Great Reset" plan.

https://www.bnnbloomberg.ca/ottawa-e...unts-1.1531766

There is a lot of money in saving's but its there for a good reason, baby boomers got some inheritance money and they also got badly burned in the 2009 melt down. So much so that they are afraid to invest in the stock marker or equities. Mutual funds have fallen out of favor because of the fee's charged.
So there is a ton of money sitting in plain saving's accounts or GIC's which are making now less than 1/2%.
But the bank is using this money right now to play in the stock market and doing very nicely. I don't think many retirees are willingly going on a spending spree, why would they with all bills increasing monthly and property taxes.
If they can't get the money out there working they will go to the next source of income ,taxing your principle residence.

Basically to me the increase in value of homes right now is what is keeping everything afloat right now if the housing boom goes south we are all in big trouble.

[Badenoch]

If the Minister of Finance wants to free up money people have saved or as she calls it "pre-loaded stimulus" a good suggestion would be a 12 month GST holiday for Canadian-owned retailers, restaurants and tourist operators.

[dean.f]

Basically to me the increase in value of homes right now is what is keeping everything afloat right now if the housing boom goes south we are all in big trouble.

I agree, because this is what drives construction in every sector. If construction dies, there's nobody significant enough to draw the money down from wealthy investors both foreign and domestic. Maybe I'm wrong?

[fishfood]

If the Minister of Finance wants to free up money people have saved or as she calls it "pre-loaded stimulus" a good suggestion would be a 12 month GST holiday for Canadian-owned retailers, restaurants and tourist operators.

So only take from the businesses that are struggling and only give them a GST holiday?

What about all the other's? No not everyone is wealthy but many are . Many live pay to pay and have little money to go around the whole idea is blown smoke .


There would need to be an incentive for all who gave and without a Proffitt it won't happen.

Ps you don't borrow from Peter to pay Paul just digs a deeper pit.

Just another fantasy of the libtards

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[JBen]

She didn’t actually say all that. And did no one notice two highly respected economist agreed with her????

And the fact is, people especially the well off, have been saving tons since this all started. They aren’t buying expensive toys, they aren’t taking expensive vacations, the aren’t dining out. Others are putting off spending, “is this the year we really want to X”

While the middle class drowns, small businesses close, others are blowing through their meagre savings etc etc.

What she is referring to is the fact that if people don’t go out and spend, the economy will sputter. Gee how hard is that to figure out? And the “recovery” will take far longer.

She point blank spoke about the tourism and hospitality sectors that have paid prices while many of “you” coast through this with secure jobs. “How can we get people with savings to spend it in those sectors.”

Lol people have no appreciation for the reality the majority (aka 60-70% of the population) are in.

nor I’m guessing that a gross income of about 80k puts a person in the top 10% club.

From 2018. I can just imagine what 2020 will look like.
https://www150.statcan.gc.ca/n1/dail...90327b-eng.htm

[Badenoch]

She didn’t actually say all that. And did no one notice two highly respected economist agreed with her????

And the fact is, people especially the well off, have been saving tons since this all started. They aren’t buying expensive toys, they aren’t taking expensive vacations, the aren’t dining out. Others are putting off spending, “is this the year we really want to X”

While the middle class drowns, small businesses close, others are blowing through their meagre savings etc etc.

What she is referring to is the fact that if people don’t go out and spend, the economy will sputter. Gee how hard is that to figure out? And the “recovery” will take far longer.

She point blank spoke about the tourism and hospitality sectors that have paid prices while many of “you” coast through this with secure jobs. “How can we get people with savings to spend it in those sectors.”

Lol people have no appreciation for the reality the majority (aka 60-70% of the population) are in.

nor I’m guessing that a gross income of about 80k puts a person in the top 10% club.

From 2018. I can just imagine what 2020 will look like.
https://www150.statcan.gc.ca/n1/dail...90327b-eng.htm

I've saved since this started. Increased my business a little and personal expenses are down 25% but I'll spend that money when I'm damn good and ready not because some Minister of Finance says that I should.

[impact]

So, everyone is bailing out and we are not supposed to be concerned?

https://www.bloomberg.com/news/artic...etails-deficit