Canadian Parenting and Child Care Community forums - parent and childcare provider advice and discussions

Author Topic: The CPP should butt out  (Read 16931 times)

Offline CareDC

  • Administrator
  • Schoolager
  • *****
  • Posts: 1874
The CPP should butt out
« on: July 29, 2008, 12:54:05 PM »
This is not related to child care, but wow.....what a shocker

At the same time Ottawa is trying to get Canadians to stop smoking through ads, high taxes, age restrictions and dire health warnings on every cigarette pack, the Canada Pension Plan Investment Board (CPPIB), the federal Crown corporation that manages the assets of the Canada Pension Plan, is pouring hundreds of millions of dollars into tobacco stocks. As of March 31, 2008, its tobacco holdings had a market value of more than $490-million.

Virtually every salary-earner in Canada over the age of 18 must pay into the Canada Pension Plan. It's the law. And like it or not, part of your premiums have been used to buy huge stakes in some of the world's biggest tobacco companies. These holdings include $165-million stake in Philip Morris International and a $72-million investment in Altria, which controls half the U. S. cigarette market.

Your CPP contributions have also been used to buy $38-million worth of British American Tobacco, the world's #2 tobacco firm (behind Altria Group) and a company that sells nearly 855 billion cigarettes in more than 190 countries annually. Other sizable holdings include Japan Tobacco ($42-million), Imperial Tobacco ($25-million),Carolina Group ($24-million), Korea Tobacco ($21-million), Reynolds American ($12-million) and Canada's largest tobacco company, Rothman's ($57-million).

On a social level, it's exceedingly hard to see how these investments will benefit Canadians. Especially when you consider that Health Canada will spend $180-million on its Tobacco Control Program over the next three years.

http://www.nationalpost.com/opinion/story.html?id=686148

Offline DevinJoubery

  • Infant
  • *
  • Posts: 1
Re: The CPP should butt out
« Reply #1 on: July 28, 2014, 02:22:18 AM »
This is not related to child care, but wow.....what a shocker

At the same time Ottawa is trying to get Canadians to stop smoking through ads, high taxes, age restrictions and dire health warnings on every
ecigs pack, the Canada Pension Plan Investment Board (CPPIB), the federal Crown corporation that manages the assets of the Canada Pension Plan, is pouring hundreds of millions of dollars into tobacco stocks. As of March 31, 2008, its tobacco holdings had a market value of more than $490-million.

Virtually every salary-earner in Canada over the age of 18 must pay into the Canada Pension Plan. It's the law. And like it or not, part of your premiums have been used to buy huge stakes in some of the world's biggest tobacco companies. These holdings include $165-million stake in Philip Morris International and a $72-million investment in Altria, which controls half the U. S. cigarette market.

Your CPP contributions have also been used to buy $38-million worth of British American Tobacco, the world's #2 tobacco firm (behind Altria Group) and a company that sells nearly 855 billion cigarettes in more than 190 countries annually. Other sizable holdings include Japan Tobacco ($42-million), Imperial Tobacco ($25-million),Carolina Group ($24-million), Korea Tobacco ($21-million), Reynolds American ($12-million) and Canada's largest tobacco company, Rothman's ($57-million).

On a social level, it's exceedingly hard to see how these investments will benefit Canadians. Especially when you consider that Health Canada will spend $180-million on its Tobacco Control Program over the next three years.


http://www.nationalpost.com/opinion/story.html?id=686148
It is nice initiative for sure..Banning smoking means good health of citizens which will in turn bring good rewards..
« Last Edit: July 29, 2014, 03:57:26 AM by DevinJoubery »

 

©2016 godaycare.com. All rights reserved

Privacy and Terms of Use | Contact Us | Read our FAQ | Resources