The Government of Canada is focused on bringing down everyday expenses, including consumer pain points and unnecessary costs that can add up at the end of the month, such as banking fees.
This measure isn’t a bandaid for what you describe. Imagine a scenario where you got everything you suggest here, living wages and higher tax on the 1%.
Would that mean that this NSF fee cap would be redundant? Not at all, we absolutely should be capping NSF fees as even in that scenario it’s a predatory poverty tax.
Things like tax rebates for services instead of capping prices, or subsidies for services if your income is under a certain threshold instead of making it affordable in the first place, those are bandaid solutions. That’s not what this is.
This measure isn’t a bandaid for what you describe. Imagine a scenario where you got everything you suggest here, living wages and higher tax on the 1%.
Would that mean that this NSF fee cap would be redundant? Not at all, we absolutely should be capping NSF fees as even in that scenario it’s a predatory poverty tax.
Things like tax rebates for services instead of capping prices, or subsidies for services if your income is under a certain threshold instead of making it affordable in the first place, those are bandaid solutions. That’s not what this is.