Labour Presents Progressive Vision for New Economy

August 19, 2009, 3:07 PM EST

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This year is the first time on record that the GDP of the entire world will shrink, Peggy Nash, assistant to the CAW National President told Constitutional Convention delegates in a presentation on August 19 about the policy paper: We will fight this crisis -the economics and politics of the global financial meltdown. "That's globalization at work," said Nash.

Across Canada alone, there are more than 2 million unemployed or underemployed workers and for these people, claims that Canada has pulled out of the recession are nothing more than a cruel joke, said Nash.

As part of the presentation, Nash outlined a 12 point plan to overhaul the economy and recover from the recession.   

1. Re-regulate the financial industry;
2. Expand the role of public and non-profit banks;
3. Expand EI;
4. Assistance for displaced workers;
5. Step up direct public spending;
6. Massive public environmental investments;
7. Expansion of public housing;
8. Protect and expand key sectors, including manufacturing and others;
9. Protect and expand pensions;
10.  Mandatory Buy Canadian policies;
11. Re-negotiate trade deals in a fair and balanced manner;
12.  Target the Canadian dollar at a figure below $.80 US

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