44th Parl. 1st Sess.
February 3, 2022 10:00AM
- Feb/3/22 12:25:28 p.m.
- Watch
- Re: Bill C-8
Madam Speaker, I will be splitting my time with my friend and colleague, the member for Windsor—Tecumseh.
It is great to be here this morning. I am pleased to lend my voice in support of Bill C-8, an act to implement certain provisions of the economic and fiscal update tabled in Parliament on December 14, 2021, and other measures. This bill is the latest important step in our government's relentless efforts to protect Canadians, support them through the ongoing challenges and bridge them through to the postpandemic recovery, which is occurring. Among other things, it would do so by implementing measures from the economic and fiscal update 2021 and from budget 2021 that would support Canadian businesses, so we can start hiring again, which we are doing, and it is great to see. It would do so while making life more affordable for all Canadians and ensuring the economic recovery is inclusive, green, sustainable and robust.
To date, our plan to fight COVID-19 and its impact on the economy is working. As I stated earlier this week, and as reported by Statistics Canada, our economy is recovering. We have surpassed prepandemic levels of employment, jobs, output and gross domestic product. Canadians are resilient, and because of them our economy is resilient. Canadians expect leadership from their parliamentarians, and we are demonstrating that leadership.
Our economy has rebounded faster than experts predicted, and that is because our government, since day one, was singularly focused on having the backs of Canadian workers, businesses and families. That has been our relentless focus, and going forward we will remain steadfast with our agenda to create prosperity for all Canadians through inclusive economic growth. I know the entrepreneurial spirit is alive and well in Vaughan—Woodbridge, and I see that optimism from businesses that continue to invest in their operations and create good middle-class jobs for Canadians.
As we stated in the fall economic update, Bill C-8 would begin to implement a fair tax system that would help on the front of housing affordability, something that I know is of high importance for the residents of York region and, within it, the riding of Vaughan—Woodbridge.
We know that strong and resilient cities, towns and communities are the backbone of a strong economy and a growing middle class, but cities, towns and communities have been hit hard by COVID-19. High infection rates have put many under public health restrictions for over a year. As Canadians begin the work of building back better together, our government has a plan to develop more prosperous, inclusive, healthy and vibrant communities across Canada, the communities that we call home.
We know, for example, that high housing costs, especially in urban centres, continue to place middle-class and low-income Canadians under huge financial pressure. Constraints on housing inventory, which have been made worse by COVID-19, as well as the environment of low interest rates, have contributed to a recent surge in housing prices in a number of communities across this country.
As a result, across the country young Canadians who are starting to build their future are running up against sky-high housing prices. That is why, in the 2021 fall economic statement, the government announced it would take steps to implement a national tax-based measure targeting the unproductive use of domestic housing owned by non-resident non-Canadians. This would help ensure that foreign non-resident owners who simply use Canada as a place to passively store their wealth in housing pay their fair share, and Bill C-8 would be a first step in making this a reality.
Part 2 of Bill C-8 would implement the underused housing tax act, which would impose a national annual 1% tax on the value of non-resident, non-Canadian owned residential real estate in Canada that is considered to be vacant or underused beginning in the 2022 calendar. Under this new measure, all owners of Canadian residential property other than Canadian citizens and permanent residents of Canada would be required to file an annual return on the current use of each Canadian residential property they own with significant penalties for failure to file.
It is estimated that this measure would increase federal revenues by $700 million over four years starting in 2022-23, and these revenues would help to support the government's significant investments to make housing more affordable for all Canadians, something that we know is important to all Canadians and our residents. We are doing this because homes are for people to live in, and Bill C-8 is a necessary first step toward making this a reality, but this measure would be just one tool among several to ensure that Canada's housing market is a place to grow for Canadians starting their families and building their future.
Madam Speaker, the national housing strategy is an ambitious 10-year plan.
It provides for investments of more than $72 billion to give more Canadians a place to call home. Launched in 2017, the NHS will create up to 160,000 new homes, meet the housing needs of 530,000 families, and repair and renew more than 300,000 housing units. More than 10,000 new housing units will be created through the rapid housing initiative from coast to coast to coast, exceeding the initial goal of 7,500 new units. Most housing units will be constructed within 12 to 18 months of an agreement being signed with the funding recipients. Of these units, 33% will support women or women and their children, and over 41% will support indigenous peoples.
The rapid housing initiative takes a human rights-based approach to housing. This initiative serves people experiencing or at risk of homelessness and other vulnerable people under the NHS, including women and children fleeing domestic violence, seniors, young adults, indigenous peoples, people with disabilities, those dealing with mental health and addiction issues, veterans, members of the LGBTQ+ community, racialized groups, and refugees or newcomers.
In conclusion, the underused housing tax introduced in Bill C-8 will be a significant addition to our measures to help Canadian families and businesses through the pandemic. We stepped up because it was the right thing to do. We also knew that the investments we were making in our economy would pay off in the medium and long terms. We know that there are challenges ahead and the future is still uncertain, but we will continue to support Canadians as we have been doing throughout the pandemic.
Bill C‑8 is the key that will help us rebuild our future and our communities so they are stronger and more resilient. I implore my opposition colleagues to take this opportunity to support this bill and give Canadians the essential support they need.
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- Feb/3/22 12:34:54 p.m.
- Watch
- Re: Bill C-8
Madam Speaker, there is a lot in that question.
I wish to applaud the minister responsible for this file, the member of Parliament for Hamilton West—Ancaster—Dundas, for procuring 140 million rapid tests, which are arriving in Canada in the months of January and February and will be distributed to the provinces. Rapid tests are one tool in the fight against COVID.
Let us be straight on this file. Let us make sure we understand the facts. The first line of defence for getting through this pandemic is getting Canadians vaccinated. I wish to thank the over 90% of Canadians and 90% of residents of York region who have received their second dose. That number is getting higher and higher, and people are also getting their booster shots. That is the way we will get through this pandemic.
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- Feb/3/22 12:36:55 p.m.
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- Re: Bill C-8
Madam Speaker, I know that our government has been there working with the provinces from day one and providing them the resources they need so that schools can remain open. I know for a fact that I announced an allotment of $33 million. In my riding, the schools were able to improve their HVAC systems to make sure they are safe for children who go to school. My children are in elementary school today. I am really happy to report that.
We have been there since day one working with the provinces and delivering to them the resources they need. They can implement them and do the right things for their schools to stay open and make sure that kids are getting a great education from coast to coast to coast.
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- Feb/3/22 12:38:19 p.m.
- Watch
- Re: Bill C-8
Madam Speaker, our government has been there since day one of the pandemic, working with the provinces. Much as the Canadian Armed Forces were sent to my riding to help in the long-term care facilities, I know that the same thing was done in the province of Quebec when it asked for assistance.
Whether it is health care transfers, working with the provinces or getting the Canadian Armed Forces to assist when necessary during the pandemic, we have been there with all the provinces working together. We will continue to be there with them, and we will continue to have the backs of the provinces and all Canadians as we get through this pandemic.
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