Politics on TV: Baird, Moody's and corporate cash - Macleans.ca

Politics on TV: Baird, Moody’s and corporate cash

The three things you need to see


Here are the three things you should not have missed:

  1. John Baird on Mali and the Middle East
  2. MPs on the Moody’s downgrade
  3. Corporate cash stockpiles

John Baird on Mali, Egypt and Syria:

On Power Play, Foreign Affairs Minister John Baird said that the announced $13 million in aid to Mali would be going to working with outside agencies like the World Food Program to help the tens of thousands of internally displaced people, as well as to provide tents. While Canada continues to provide the C-17, Baird said that we will play a particular role on the humanitarian side in the conflict. With regards to the situation in Egypt, Baird said that they were concerned about the violence, and that the fundamental problems in that country are economic – many young men can’t find jobs. On Syria, Baird said that Canada is working with others to provide food, shelter and a safe place for refugees. Don Martin got more perspective on Egypt and Syria from University of Waterloo professor Bessma Momani.

Power & Politics had an MP panel of Chris Alexander, Paul Dewar and John McKay to discuss the issue, and McKay made the point that Harper won’t say why the Sahel region has important implications or what the policy and plan for the region is.

MPs on the Moody’s downgrade:

On Power & Politics, an MP panel of Mark Adler, Peggy Nash and Scott Brison discussed the Moody’s downgrading of Canadian banks. Nash said the government needs to create a fairer and more balanced economy because real incomes are stagnating while growth benefits the top. Adler reminded everyone of the NDP promise of prime-plus-five per cent credit cards in the last election, which would have led to more consumer debt, and added that the Moody’s report still said Canadian banks are the gold standard. Brison said that Flaherty made the problem of household debt worse by loosening mortgage rules when the Conservatives first got into power, and said that part of the problem is that people are losing full-time jobs and trying to maintain their lifestyle with credit.

Corporate cash stockpiles:

Don Martin spoke with Canadian Labour Congress’ Hassan Yussuff about their latest report on corporations sitting on cash reserves. Yussuff said that with the corporate tax rate now at 15 per cent, an all-time low, corporations are sitting on cash without creating jobs or paying for new equipment, and that it was a reasonable argument that the rate could go back to 18 per cent to deal with deficit and social programs. Canadian Council of Chief Executives CEO John Manley disputed the CLC report’s methodology, and said that factoring in provincial taxes, the real rates are closer to 25 per cent, and wondered why the CLC believes that government can spend money more effectively than private sector.

Worth Noting: