A Liberal government will protect society’s most vulnerable with a $700-million annual boost to the Guaranteed Income Supplement (GIS), more than double the $300 million proposed by the Conservatives.
Unlike the narrow Conservative plan, which would only help about 680,000 seniors, the Liberal plan to increase the GIS will help every GIS recipient – more than 1.6 million Canadians, and more than twice as many as the Conservative plan would help.
For a single senior with little or no income outside of the Old Age Security Pension and GIS, our plan would provide an additional $650 per year.
In their recent failed budget, the Conservatives were giving 20 times more to Canada’s richest corporations than to the poorest seniors. And they spent more on the G20 in a single day than an entire year of new budget initiatives for seniors.
A Liberal government will also gradually expand the Canada Pension Plan (CPP) and put forward the Secure Retirement Option (SRO), a voluntary supplement to the CPP for any Canadian worker who wants it. Under the SRO, Canadians could save a tax-deductible percentage of their pay in a secure retirement fund backed by the CPP.
