Retirement Security

Fraser Institute pension study hypocritical – Georgetti says Fraser fronts for big business, conservative politicians

September 16, 2013
OTTAWA ― The Canadian Labour Congress says that a study released by the Fraser Institute, which attacks the pensions paid to men and women who provide public services to Canadians, is hypocritical.

“The Fraser Institute claims to be independent and non-partisan,” says CLC President Ken Georgetti. “But the Institute is well known for taking millions of dollars in contributions from right wing American think tanks and multinational corporations then producing studies that conveniently push their agenda. Who paid for this one, big oil, big pharmaceutical companies, tobacco companies, or the business leaders in Canada who regularly donate to the Conservative Party?”

Georgetti says that in 2011 Michael Walker, senior fellow at the Fraser Institute, was paid $424,000 funded by tax deductible, charitable donations. “At the same time, the Institute says that we can’t afford to pay a pension of $18,000 a year to retired public servants.”

Georgetti adds, “The Fraser Institute attacks pensions to public sector workers but it has also been a cheerleader for the federal government’s tax breaks to corporations. These giveaways include a lifetime capital gains exemption for business owners to the tune of $800,000. This handed small businesses nearly $1 billion annually in federal tax relief.”

Ottawa has also slashed the corporate income tax rate from 21% to 15%. Georgetti says, “This puts an added $13 billion into the pockets of businesses who have for the large part parked it in their bank accounts.”

Georgetti adds, “The Fraser Institute should stop attacking the men and women who work hard to provide valuable public services to Canadians, and who contribute every pay cheque toward their pension plan so they can retire in dignity.

The Canadian Labour Congress, the national voice of the labour movement, represents 3.3 million Canadian workers. The CLC brings together Canada’s national and international unions along with the provincial and territorial federations of labour and 130 district labour councils.

Web site: www.canadianlabour.ca
Follow us on Twitter @CanadianLabour

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