The Canadian Centre for Policy Alternatives is urging the federal government to adopt a massive $33 billion spending package that would stimulate the creation of 400,000 new jobs in its upcoming budget.

The think-tank released what it calls an “alternative” federal budget on Tuesday. The group said its plan would boost the economy by 3%.

“We’ve laid out a bold and achievable set of initiatives that can protect Canada from the economic storm while building for future generations,” said CCPA senior economist Armine Yalnizyan, in a release.

Key investments outlined in the plan include:

> $12.4 billion for investments in fixing Employment Insurance so more out of work Canadians receive benefits, poverty reduction, and income supports for seniors, children, and the working poor;

> $14.7 billion to strengthen and build infrastructure with investments in municipal infrastructure, affordable housing, child care, and post- secondary education; and

> $5.8 billion to prepare for the future by investing in green infrastructure, training and education, and energy retrofits.

The CCPA will release the full “Alternative Federal Budget” document later this month.

Finance Minister Jim Flaherty is preparing to table his next federal budget on Jan. 27. He repeated in Montreal on Tuesday that tax cuts will be part of the package for stimulating the economy.

IE