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th ei fp .c a Th e IF P -H al to n H ill s | T hu rs da y, D ec em be r 24 ,2 02 0 | 6 ABOUT US This newspaper, published every Thursday, is a division of the Metroland Media Group Ltd., a wholly-owned subsidiary of Torstar Corporation. The Metroland family of newspapers is comprised of more than 70 community publications across Ontario. This newspaper is a member of the National NewsMedia Council. Complainants are urged to bring their concerns to the attention of the news- paper and, if not satisfied, write The National NewsMedia Council, Suite 200, 890 Yonge St., Toronto, ON M4W 2H2. Phone: 416-340-1981 Web: www.mediacouncil.ca newsroom@theifp.ca IndependentAndFreePress @IFP_11 WHO WE ARE Publisher Kelly Montague Regional Managing Editor Catherine O'Hara Managing Editor Karen Miceli Distribution Representative Iouliana Polar Real Estate Kristie Pells Regional Production Manager Manuel Garcia Halton Media General Manager Jason Pehora CONTACT US The Independent & Free Press 280 Guelph Street, Unit 77 Georgetown, ON L7G 4B1 Phone: 905-873-0301 Classifieds: 1-800-263-6480 Fax: 905-873-0398 Letters to the editor All letters must be fewer than 320 words and include your name and telephone number for verification purposes. We reserve the right to edit, condense or reject letters. Published letters will appear in print and/or online at theifp.ca Delivery For all delivery inquiries, please e-mail lpolar@miltoncanadianchampion.com or call 905-234-1019. OPINION TO LEARN HOW TO SUBMIT YOUR OWN CONTENT VISIT THEIFP.CA Several weeks ago, the federal government re- leased its 2020 fall econom- ic statement, the only ma- jor fiscal update for 2020. While the government did not table a budget this year, it has said there will be a budget tabled in spring of 2021. The statement projects the deficit to be a record- shattering $382 billion this year, largely due to emer- gency spending and a drop in revenues. The statement projects deficits to remain high in the coming years -- $121 billion in 2021-22 and $51 billion in 2022-23. Highlights of the fall economic statement in- clude increasing the Cana- da Child Benefit by $1,200 in 2021, funding for home energy retrofits and tree planning, supports for the arts and entertainment sectors, supports for the airline sector, $1 billion for a Safe Long-term Care Fund, increased funding for the Canada Summer Jobs program, funding and training supports for vul- nerable populations, intro- ducing a Netflix, Amazon and Airbnb tax; and re- moving the GST/HST on face masks and face shields. Some of these supports are welcome and needed. For months my Conserva- tive colleagues and I have been calling for supports for the airline industry, which has seen revenue and passenger volumes collapse as much as 90 per cent year-over-year. Conservative leader Er- in O'Toole has also been calling on the federal gov- ernment to increase the Canada Child Benefit to help families that have been hit hard by the pan- demic. Federal stimulus is needed in response to the COVID-19 pandemic, which is completely be- yond the control of individ- uals, families and busi- nesses. The Canadian economy was in trouble before the pandemic. Our productivity, the only long-term determi- nant of prosperity, had been lagging for years. Per capita GDP was flat, if not declining, in the quarters before the pan- demic. Canadian households had some of the highest debt levels in the world. The pandemic has only made things worse. The OECD and the IMF predict that Canada will have a deeper recession and a slower recovery than our economic peers. All this makes for a so- bering reality check. Cana- da needs an ambitious eco- nomic plan to create pros- perity for all. Michael Chong is the MP for Wellington-Halton Hills, and the shadow minister of democratic institutions for the official opposition. He can be reached at Mi- chael.chong.a3 @parl.gc.ca. AMBITIOUS ECONOMIC PLAN NEEDED NOW PANDEMIC HAS SERVED TO WORSEN CANADA'S ALREADY DIMINISHING PROSPERITY, WRITES MICHAEL CHONG There are 52 weeks a year. But Christmas is so special. Daily routines change. Many exchange gifts and family and friends social- ize, celebrate and recon- nect. For some it is emotional, as we think of those no lon- ger with us. At Christmas, people of- ten think of their values and traditions and what makes us tick as human be- ings. This column explores different ways of managing your personal finances. Managing your money does not have to be done in isolation of your family val- ues. Are there charities that you can support during the year through volunteering your time, effort, and skills? Cash donations are also needed to support worthy causes in our communi- ties. Is there a particular cause that is near and dear to your heart that you would like to recognize in your will? That donation could be directed to a school, col- lege, or university that helped launch your career, enabling you to enjoy a comfortable standard of living. Help that institution launch the careers of oth- ers. Perhaps family mem- bers can co-ordinate ef- forts to build an education- al fund that will assist the next generation of family members in getting a strong educational founda- tion before entering the adult world of work. Educational gifts can be made via a lump sum one- time payment or be set up to contribute monthly. One thing that has changed for the youth of today is the staggering cost of post-sec- ondary education. Let the Christmas spirit act as a springboard to pro- pel you into a kinder, gen- tler way of thinking. Peter Watson, of Watson Investments MBA, CFP, R.F.P., CIM, FCSI offers a weekly financial planning column, Dollars & Sense. He can be contacted through www.watsonin- vestments.com. A TRULY SPECIAL TIME OF YEAR CHRISTMAS BRINGS OUT TRADITION, MEMORIES AND ACTS OF KINDNESS, WRITES PETER WATSON PETER WATSONColumn A recent sunset casts some stunning colours over the sledding hill near the hospital. Do you have a great local photo you'd like to share? Send it to sleblanc@metroland.com, along with a brief description. Allan Welters photo SNAPSHOT MICHAEL CHONG Column