Today is the day that the federal government’s so-called “grocery rebate” gets deposited in Canadians’ accounts, but it’s not really a grocery rebate, and once again, a defensible policy gets given a dumb and confusing label for marketing purposes, because that’s what this government does. This is just another GST rebate top-up like the one that happened last year to help deal with the rising cost of living for those who are on the lower-end of the income scale, but of course the government gave it a new name this year just to try and be cute about it.
https://twitter.com/LindsayTedds/status/1676243078833926145
https://twitter.com/LindsayTedds/status/1676243669685506048
You may also have heard complaints that this particular rebate is going to fuel inflation (which is coming down! It’s nearly at the outside band of where the central bank wants it to be!). This is also nonsense, because of how the programme is targeted, and Jennifer Robson has all of the receipts and data to prove it in the thread below.
Will the one-time GST Credit top-up (aka "grocery rebate") paid tomorrow be inflationary?
I deeply doubt it. To be inflationary, it has to act either via expectations or aggregate demand.— Dr. J Robson (@JenniferRobson8) July 4, 2023
And that top 40% still has some cushion to cope with rising prices (whether food, housing, services, etc..) that other households don't have.
When you criticisms about excess demand, worth thinking about where the speaker thinks that's coming from. pic.twitter.com/OZPDMqKvSx— Dr. J Robson (@JenniferRobson8) July 4, 2023
Ukraine Dispatch:
Russians attacked a military funeral in Pervomaiskyi in the Kharkiv region, wounding 38 including twelve children. Ukrainian forces targeted a Russian military formation in occupied Makiivka, which Russian officials say killed a civilian and injured others. Previously over the weekend, Russia launched its first overnight drone strike against Kyiv in twelve days, while a drone attack on the city of Sumy killed two and injured 19. Elsewhere, the reports from the counter-offensive are that it has been “particularly fruitful” over the past several days, with yet more gains around Bakhmut. There have been yet more warnings that the Ukrainians believe that the Russians will detonate something at the Zaporizhzhia nuclear plant, while the Russians are also claiming the Ukrainians will do so in order to blame them (as though that makes any sense whatsoever).
Happy Canada Day to all Canadians! @JustinTrudeau, friends and allies, we are grateful to you for your support and open hearts. With our close people ties and shared values, we are more then partners. Bonne fête du Canada!
— Volodymyr Zelenskyy / Володимир Зеленський (@ZelenskyyUa) July 1, 2023
https://twitter.com/kyivpost/status/1676258705422053378