Winners and losers of the pandemic. THREAD:
The winners:
1. Canada’s top grocery stores earned $721 million in profits in only 3 months of the pandemic.
- Loblaws: $342 million
- Metro: $187 million
- Empire Company Ltd. (owns Sobeys): $ 192 million
1. Canada’s top grocery stores earned $721 million in profits in only 3 months of the pandemic.
- Loblaws: $342 million
- Metro: $187 million
- Empire Company Ltd. (owns Sobeys): $ 192 million
2. Billionaires:
- Canada’s top 20 billionaires amassed $37 bn in 2020.
- The top five billionaires increased their wealth by $5.5 bn
- Canada’s top 20 billionaires amassed $37 bn in 2020.
- The top five billionaires increased their wealth by $5.5 bn
3. Pharmaceutical companies:
Pfizer is expected to make $4 bn in COVID-19 vaccine revenue in 2021 alone.
In 2020, Pfizer made $9.6 bn in profits, but is still pushing for federal tax cuts: pharmaceutical-technology.com/features/pfize…
Pfizer is expected to make $4 bn in COVID-19 vaccine revenue in 2021 alone.
In 2020, Pfizer made $9.6 bn in profits, but is still pushing for federal tax cuts: pharmaceutical-technology.com/features/pfize…
The losers:
1. Young Canadians: They saw their hours reduced or lost work altogether. And those entering the job market this year, may not be able to catch up in pay for a long time: policyoptions.irpp.org/magazines/octo…
1. Young Canadians: They saw their hours reduced or lost work altogether. And those entering the job market this year, may not be able to catch up in pay for a long time: policyoptions.irpp.org/magazines/octo…
2. Women: COVID-19 has largely affected female-dominated sectors such as retail & restaurants. Women's participation in the labour force is at its lowest level in 30 yrs.
About 20,000 women exited the workforce between Feb-Oct 2020, since childcare still largely falls on women.
About 20,000 women exited the workforce between Feb-Oct 2020, since childcare still largely falls on women.
3. BIPOC Canadians: Black and Indigenous Canadians are experiencing the highest rates of unemployment at 13%, and 11.5% for other racialized communities.
On average, these rates are 75% higher than for white Canadians: behindthenumbers.ca/2021/01/14/rac…
On average, these rates are 75% higher than for white Canadians: behindthenumbers.ca/2021/01/14/rac…
It’s a myth that the pandemic has affected everyone equally. It hasn’t. But with a #wealthtax, we can ensure that the recovery happens for everyone equally. Join the #TaxtheRich movement here: broadbentinstitute.ca/tax_the_rich
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