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Did you know that:

·         In BC, 50% of all seniors live on an income of less than $26,000/year?

·         The 2018 Homeless Count found that 23% were over the age of 55?

·         It is estimated that by 2038, about one in four people living in B.C. will be a senior?

Seniors face many issues and challenges that include social isolation, loneliness and poverty.  The Seniors 411 Society offers programs that reduce social isolation, increase social inclusion, and are a critical component of any anti-poverty strategy.  The Society’s submission on a Poverty Reduction Strategy for Seniors (Feb. 2018) states that the BC plan must address both increasing income and helping reduce or manage costs.  They also provided recommendations in seven areas that include housing, transportation, food insecurity and community based programs.  BC is still the only province in Canada without a poverty reduction plan.

In the 411 Seniors Centre Society submission, they emphasize the importance of community and social connections for seniors.  Seniors have told staff at the Society that they feel a loss of community if they move to a different and unfamiliar neighbourhood.  However, aging in place and finding quality, affordable rental homes in Vancouver, is a challenge for seniors on low and fixed incomes.  The new 411 Seniors Centre (anticipate ground breaking in Spring 2019) is a step to providing more seniors social housing.  It will have approximately 50 units of social housing, a multi-purpose centre and be located close to other amenities and services they need.

Leslie Remund, Executive Director for the 411 Seniors Centre Society, says, “We are a peer led membership organization that aims to cushion the impact of poverty by providing information, referral and advocacy services, a drop in for socialization & connection& daily activities that promote aging with pride and curiosity.”   The Centre strives to enhance the quality of life of seniors by adding a collective voice on seniors’ issues such as affordable housing, income, and health services.   Join us!”

Find out more about the 411 Seniors Centre Society.  Support their capital campaign for their new building.

(This year, CCEC was pleased to support a fundraiser for the 411 Seniors Centre Society.)

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Get out and VOTE in the upcoming municipal elections.  Voting day is October 20th.  Advance Polls are now open. 

Read the Vancouver Voter's Guide to learn more about the candidates and their positions on issues that are important to you, like housing.  Attend candidate meetings.  

Learn more at the City of Vancouver website. 

 

 

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Today the CCPA published a great blog post on the land wealth inequality. Using publicly available data from Stats Canada and the Canadian Revenue Authority, Alex Hemingway documents how the rich get richer. This is a BC based analysis of how the boom times have enriched the top 20%, or the top 5% even more.

The concentration of wealth in relatively few hands is difficult to swallow in an allegedly 'democratic', egalitarian country.  The top 20% by net worth own 62% by value of all the real estate designated principal residences; and 80% of all the other real estate (presumably rental, commercial, and industrial). 

On the flip side, the 60% with lowest incomes own only own only 13% of the value in principle residences.

When property values escalate it is clear who gains.  In 2016, Hemingway notes, Vancouver single family properties jumped $47B in market value, roughly equal to the entire provincial budget in that year.  We can estimate that 62% of that or $29B went to the wealthiest 20% of households - and most of it 'tax free'. (@$6B went to the bottom 60% of households!)

The post notes that this inequality is the result of tax treatment, and Hemingway endorses the new speculation tax and new school tax that will require higher value landowners to pay more.  He suggests implementation of a progressive property tax.  Yes, these are good measures, but we should also place a cap on the capital gains tax exemption for principal residences.

The existing tax regime benefits the wealthy because they pay attention and lobby.  Ordinary people have to push for a fairer system.  It is possible to get this tax question on the table for the next Federal election.  It did come up last year

This item from policynote.ca is a call to action for those of us who want to challenge the status quo.  The Provincial government has done the right things so far, but there is more to do. 

 

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