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Alexandre Boulerice: Targeting unions is hurting the financial markets

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Publication date: 
Fri, 2012-10-19

(Click here to read Bill C-377: An Act to Amend the Income Tax Act (requirements for labour organizations) : Submission to the House of Commons Standing Committee on Finance)

Alexandre Boulerice: Targeting unions is hurting the financial markets

Canada’s economy is in a fragile state. Just last week, the IMF lowered its forecast for global growth due to ongoing instabilities in the United States and the Euro Zone, as well as the slowdown of the Chinese economy. Meanwhile, TD Bank lowered its estimates for economic growth here in Canada for 2012, and is projecting only modest growth for 2013 and 2014.

You would figure that in times like these, the federal government would be cautious in the legislation that it supports. But sadly, the Conservatives’ partisan instincts have taken precedence.

Take bill C-377 for example. On its surface, it aims to bring transparency to union finances. Yet, to achieve this aim, the Conservatives could be imposing a massive clampdown on our financial markets and costing business — both big and small — millions in lost revenue.