Preface

Situating the Pandemic: Welfare Capitalism and Canada’s Liberal Regime

“…As conditions began to stabilize, the government promptly unveiled an exit strategy to address the “crisis in public finance” created by lost revenue and new spending programs. 75 (p18) This aimed at “aggressively shrinking public expenditures” and targeted vulnerable groups most impacted by the crisis. It also maintained low personal income tax rates and included “a massive deregulation program, corporate tax cuts, and a further liberalization of foreign investment.” 75 (p18) This has “deepened” existing class, gender, and racial inequalities as well as the penetration of market practices inside the state.…”

“…75 (p18) This aimed at “aggressively shrinking public expenditures” and targeted vulnerable groups most impacted by the crisis. It also maintained low personal income tax rates and included “a massive deregulation program, corporate tax cuts, and a further liberalization of foreign investment.” 75 (p18) This has “deepened” existing class, gender, and racial inequalities as well as the penetration of market practices inside the state. 73,75 The same logic mediated the retrenchment of program spending following the crisis, with labor market supports quickly rolled backed to pre-crisis levels to maintain labor market flexibility and the value transfer from producers to owners that it provides.…”

“…In Ontario, stimulus spending was attached to “a permanent reduction of the corporate income tax from 14% to 10% by 2013,” and the crisis was used to further instrumentalize education and training programs to facilitate competitiveness. 73,75 (p25) The Campbell government in British Columbia introduced personal income tax cuts and small business tax relief in 2008 and about $400 million in new temporary program spending in 2009, aimed primarily at income assistance for “individuals and families in need.” Stimulus spending also provided short-term support for training and post-secondary education and new, shovel-ready infrastructure and construction projects to “keep British Columbians working.” At the same time, the government introduced $2 billion in administrative cuts, “streamlined” nonessential government programs, and committed to returning to fiscal balance, partly by finding “$250 billion in annual efficiencies.” By 2011, the provincial focus shifted to “maintaining the provinces’ AAA credit rating,” setting up its 2013 “austerity budget” that implemented additional “expenditure management.” 76 (p38)…”