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Ask people in our community how they’ve been doing financially over the past couple of years – if not longer – and I’m sure most would say that life has been tough.
Many are being forced to make sacrifices to provide for their children; to choose food or medicine; heat or rent.
In 2022, we saw food prices rise more than 10 per cent. This year, grocery store bills are projected to rise another five to seven per cent, or almost $1,000 more for a family of four.
The price of home heating and gas for our vehicles reached record levels in 2022 and are projected to rise to $2 per litre or more this year.
Prior to the pandemic, Barrie frequently found itself among the top five cities with the highest rents in the entire country. Over the past couple of years, we’ve seen them jump even higher – as much as 12 per cent on average in Canada – as landlords take advantage of the shortage of affordable housing.
And what has our government done to address the crisis? Nothing, really, including the complete absence of any rent control legislation.
Homeowners are also being hit with massive interest rate hikes, with banks preparing for a dramatic increase in mortgage defaults. This race to raise interest rates has been an all-out attack on workers, with the goal to ease inflation by reducing wages and increasing unemployment.
So, who is benefiting from this? Corporations, of course. We’ve seen firsthand how they used the pandemic as an opportunity to raise prices. Incredibly, as Canadians struggled, after-tax corporate profits skyrocketed 59 per cent to $456 billion in 2021, then jumped to $523 billion by mid-2022.
Canadian banks also raked in tens of billions of dollars in profits, while dishing out billions in bonuses to executives. Corporate landlords, and the oil and gas industry, also posted record profits.
It all adds up to the most massive transfer of wealth from the working class to the rich in decades.
What can you do about it? Take action to put public pressure on governments and force them to act.
The Communist Party of Canada’s current campaign to roll back prices and raise wages is focused on inspiring working people into action before they, their co-workers or neighbours lose their homes, their jobs, and their futures to corporate profits and greed.
On Thursday, May 18, Communist Party of Canada Leader Elizabeth Rowley will be hosting a public meeting beginning at 7 p.m. at the downtown branch of the Barrie Public Library. If you’re new to the movement, it will be a good way to join the fight. If you’re looking for new ways to get involved and help working people in our community, your experience will be an asset.
Join the fight to roll back prices and raise wages. The workers united can never be defeated.
Michael Speers
Barrie
