By K.C. ADAMS, TML Weekly
• Part One: Ideo-Political Considerations of the Federal Budget
CANADIANS are understandably concerned with the prospects for the country. At this stage in history, people are blocked from setting the aim, agenda and direction of the economy. The ruling elite expect the people to accept the dictate of the monopolies and the government for those features of modern democratic life that should belong to the people by virtue of being members of the polity.
A budget is an accounting tool of the economy. The expenditures and revenue of a nation, institution, collective or individual exist within a dialectical relationship. The ideo-political considerations of a budget both expenditures and revenue are set by those who control the nation, institution, collective or individual. The ideo-political considerations are the bedrock on which the aim of the nation, institution, collective or individual is fashioned and the expenditures and subsequent necessary revenue determined within the budget. More…
• Part Two: Mystery of State — The Hoax of Balancing the Budget
• Your Tax Dollar: 2011-2012 Fiscal Year – Department of Finance
• Summary of 2012 Budget – Department of Finance
HALIFAX December 1, 2010 – CANADIANS are dead set against the privatization of the health care system but are faced with governments that serve private not public interests. As a result, they use the social wealth to pay the rich while claiming there is a scarcity of funds for health care and other social programs. After creating a crisis in health care by depriving it of the required funds, a “solution” is then presented in the form of public-private-partnerships or P3s, promoted as a creative way to solve the “health care crisis.” Canadians have seen that they are simply another way to put public money at the disposal of private interests. One such example in Nova Scotia is particularly insidious because it is not even referred to as a P3. Continue reading
Nova Scotia is one of the provinces – along with Prince Edward Island and Newfoundland – that Canadians have to pay to enter by road, unless they shunpike through the Wentworth Valley to get around the toll highway. Now the fee each vehicle pays for using the Cobequid Pass will be going to the United States. To ensure finance capital collects its pound of flesh, the government even levies high fines on truckers using adjacent roads to force them to use the toll road.
By TONY SEED
Shunpiking Magazine, 2001
IT WAS A MERE 15-second blip on the radar screen that the media calls “news,” but the paper on Nova Scotia’s toll highway – along with a private toll highway in Ontario – has passed into the hands of foreign capital.
CIT Group Inc. of New Jersey is to take over Newcourt Credit Group of Toronto, the world’s second-largest commercial finance company, in a $4.2-billion deal, creating North America’s largest non-bank lending company.
Newcourt underwrote some $51 million toll revenue bonds to finance the Cobequid Pass in Nova Scotia – part of the Trans-Canada Highway – at an estimated $2 million higher cost than had the provincial government borrowed the funds.
An estimated more than $300 million in tolls have been produced on the Cobequid Pass for a deal in which private financiers put up $66 million. According to a report by the Canadian Centre for Policy Alternatives, the Nova Scotia government is also paying an effective interest rate of 10 per cent for 30 years, twice its rate of borrowing.