CP of Canada condemns government’s economic update

On May 21, the Central Executive Committee of the Communist Party of Canada (CPC) issued a scathing condemnation of the Liberal government’s spring economic update, describing it as a betrayal of working people that reveals the “true character” of Prime Minister Carney’s majority government.

The budget that punishes workers while rewarding investors comes amid rising unemployment and deep anxieties over the cost of living. Whereas official unemployment rises at 6.7% (nearly 14% for youth), the CPC argues that the update delivers more austerity.

“The government could have announced an emergency housing plan to build and provide affordable and accessible publicly owned housing,” the statement reads, noting that, instead, the government’s economic update paves the way for cuts, privatisation, and corporate giveaways.

The Communist Party contrasts the Liberal approach with an alternative vision of genuine independence. Instead of cutting services to fund a “war budget” and NATO’s new arms race, the CPC calls for redirecting military spending toward healthcare, education, and unionized public infrastructure jobs, alongside nationalizing the energy sector for a renewable transition.

“People’s sovereignty means rejecting corporate rule—from a foreign power but also from within Canada—and building independent democratic institutions that can defeat the drive to war and reaction, and put the needs of people and the planet before corporate power and profit,” the Central Executive Committee stated.