Jagmeet Singh billionaires tax rich cost of living
News

Singh: “Billionaires have made record profits while your gas & grocery bills go up”

by Lorraine Carpenter

In 2021, Canadian Tire made $1.3-billion in profit, while Walmart made $3.6-billion.

On Monday, NDP leader Jagmeet Singh introduced a motion to deal with the rising cost of living in Canada. He stated that “life is becoming more unaffordable,” citing the increasing concentration of wealth. Billionaires, Singh noted, have made record profits, as have banks and big box stores, so it’s time to “tax the rich.”

“Last year alone, prices increased by 5.1% while wages only increased by 2.4%.

“In 2021, Walmart made $3.562-billion (U.S.) in profit while Canadian Tire made $1.261-billion in profit.

“Under the Liberals, the ultra-rich are thriving while Canadian families feel abandoned.”

Singh echoed these statements in the House of Commons today, but was largely drowned out by Conservatives heckling the NDP for making a historic supply and confidence agreement with the Liberal party.

Jagmeet Singh: “Billionaires have made record profits while your gas & grocery bills go up”

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by Lorraine Carpenter

Editor in chief
Lorraine Carpenter was born in Montreal and studied communications and journalism at Concordia. She co-founded Cult MTL in 2012 following 12 years at the now-defunct Montreal alt weekly the Mirror, where she worked in editorial as copy editor and music editor. She’s dedicated to supporting the cultural scene in Montreal.