SoVote

Mr. Jagmeet Singh (Burnaby South, NDP)

Mar/21/22 12:02:56 p.m.
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moved: That, given that, (i) as the cost of gas, groceries and housing continues to rise, most Canadians are struggling to make ends meet, (ii) at the same time, wealth inequality is reaching a level not seen in generations as the super-rich continue to protect their wealth through a financial system with very little transparency, (iii) over the course of the pandemic, large corporations in certain industries have made record profits, including big banks, oil companies and big-box stores, (iv) the 2021 Liberal platform included a commitment to implement a 3% surtax on banks and insurers, as well as a publicly accessible beneficial ownership registry, the House call upon the government to include in its next budget: (a) its proposed 3% surtax on banks and insurance companies on profit over $1 billion, which should be expanded to profitable big oil companies and big-box stores; (b) a plan to re-invest the billions of dollars recouped from these measures to help Canadians with the cost-of-living crisis; and (c) a publicly accessible beneficial ownership registry. He said: Madam Speaker, I will be splitting my time with the member for Elmwood—Transcona. We know that the cost of living is going up and that Canadians are feeling the weight of it. They are being crushed by the cost of living. Whether it is the cost of groceries or gasoline going up, everyday families are finding it harder and harder to make ends meet. Over the past couple of weeks, I have spoken with families that, when they go into grocery stores, have to reconsider what they purchase. They put food back, and that phrase really hit me. A mom mentioned that she would go into the grocery store, pick up something and then have to put it back. It was something that her child likes to eat or her family makes when they cook together. They simply cannot afford it. I spoke to retail and grocery store workers, specifically a worker who works in a grocery store. He has not seen a raise in his salary. He also drives to make deliveries for his living and has seen the cost of gas go up, directly impacting how much he earns. We saw inflation rise above 5% in January, a 30-year high, while people's wages only rose by 2.4%. Families cannot keep up. While we have heard promises from the Liberal government to do something, it has not acted. Any time the cost of living goes up, it certainly makes it harder for families and workers. Their cost of living goes up and this makes it harder for them to purchase what they need and to put food on the table. However, while it hurts many, it actually benefits some. While the cost of living goes up and hurts families and lots of people, it benefits the wealthiest corporations, which have made record profits. Let us go into some of those profits. Walmart, in 2021, made $3.5 billion in profit. Canadian Tire made $1.26 billion in profit. Canadian Natural Resources made nearly $2 billion in net income in the fourth quarter alone. We are therefore seeing, on one hand, that people are having a hard time filling up their cars and buying groceries, but companies are seeing record profits. Huge grocery store chains, corporate grocery stores and big box stores have made record profits, and they are profiting off the backs of people. We also know that, in general, the ultrarich are getting richer while 60% of Canadians now say they are having a hard time simply making ends meet. We believe it is the government's role to step up when we see companies exploiting people, exploiting difficult times and exploiting the pandemic, a war and inflation. It is government's role to stop them from doing that. We have heard some ideas being floated about maybe waiving taxes, but what would stop a corporation, if a tax was waived, from increasing the price of their goods to make up the loss and the difference? What are we proposing? We have to get at the heart of the matter, which is wealth inequality. As wealth inequality goes up, it makes the quality of life for everyone worse. We know that societies that are the safest and healthiest and have the most civic engagement are those where there is less wealth inequality. However, what we have seen are policies brought in by successive Conservative and Liberal governments that have allowed the ultrarich to get richer. In this crisis, they have allowed certain wealthy corporations to make excess profits while everyday families are struggling, and we are saying enough is enough. Our proposal is to tax the excess profits made by profitable corporations and reinvest in people. That is a sustainable solution to get at corporate greed and a long-term solution to invest in people. In the last election, the Liberals promised a surtax of 3% on big banks and insurance companies. We agreed that we should be taxing institutions that are making significant profits and should reinvest in people. We are saying the government should expand what it has already promised to do. It should first implement it and then expand it to also include big box stores and oil and gas companies. Then it should use that revenue to invest in people. The status quo is doing nothing. The status quo is to let this continue without doing anything to help people, and for the New Democrats that is wrong. We believe it is wrong and that we have to act. People are already feeling overwhelmed by the rising cost of housing and food. The cost of living is going up, and this increase is taking its toll. Canadian families are struggling to make ends meet. While families have seen their weekly grocery bill get more expensive, the CEOs of major grocery chains and big box stores posted record profits during the pandemic. The ultrarich are prospering under the Liberals, while Canadian families are feeling abandoned. We think this is unacceptable, which is why we are proposing a solution. We are calling on the Liberals to commit to imposing a 3% surtax on the big banks and insurers and to expand this tax to the big oil companies and big box stores. Instead of letting the rich get richer, we are calling on the government to tax these profits and to reinvest that revenue in measures that help make life more affordable for families. We will never stop fighting for ordinary Canadians, instead of protecting the profits of major corporations. What we are proposing is that we act. When people tell us that it is harder and harder to make ends meet, we need to do something about it. When people are struggling to put food on the table, to buy groceries and to pay their bills, we need to do something. We have to acknowledge that people are hurting right now. We are proposing a solution that gets at the heart of the matter: the excess profit and greed of these large corporations. Let us impose a tax on that excess profit and reinvest it back into people. People have asked what we can do. There is a lot we can do. We can invest in programs that will make life more affordable for people. We can invest in dealing with the costs that people deal with on a regular basis, like the cost of medication. Why not bring in a national pharmacare plan to help families save thousands of dollars on their medication? We are proposing to put in place a program to help people with dental care. We know that many families are struggling with the cost of living and go without dentist visits. Kids are going without dentist visits. We can bring in social programs, universal social programs, that will help people out. We can invest in programs that help those who are most in need and help with investments to directly support families that are most in need. We could send direct payments out to families like we did during the pandemic. We can support those families that need help the most. We need to act. What we are proposing is a clear path to action: imposing a tax on companies that are making excess profits and reinvesting that back into people. The New Democrats will always be on the side of people, and we believe very strongly that our role is to stop companies from exploiting people and that the government's role is to stand up and provide real help when people need it most. That is exactly what our motion and plan are about, and it is exactly what we will continue to do.

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Context: House Hansard - 42 - Mar/21/22

Mr. Jagmeet Singh

Mar/21/22 12:13:07 p.m.
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Madam Speaker, I want to make something really clear. It is important that folks know we are not blaming government for global pressures that are causing our cost of living to go up. However, we are certainly blaming it for the inequality that is mounting, the fact that the ultrarich continue to make record profits while people struggle and the fact that the ultrarich do not pay their fair share. We are certainly blaming that on government, both Liberal and Conservative. What we are proposing is a solution to that. It is a solution to the fact that wealth is being concentrated into the hands of fewer and fewer and that those at the very top continue to make record profits. We are proposing a real solution to say that we can do something about that: We can tax excess profits and can invest that back into people. We believe we can and should act when people are struggling, and the way to do that is to reinvest resources back into the people who need them most. That is what the motion is proposing.

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Context: House Hansard - 42 - Mar/21/22

Mr. Jagmeet Singh

Mar/21/22 12:14:38 p.m.
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Madam Speaker, here is the problem with the approach of the Conservatives on this and a number of matters: If we were to have a tax holiday on the GST or on the carbon tax, nothing would prevent those very same companies from increasing costs even more. They would say there is a savings that people are enjoying, so let us increase the rates even more. That is the inherent problem with the Conservatives' approach. They think that somehow without government intervention, large, wealthy corporations are going to lower costs or allow people to earn a decent living. They are not. That is why we have to fight. That is why governments exist: to prevent that exploitation. What we are proposing is to get at the heart of the matter. Let us tax the excess profits and reinvest that back into people, which is something we have done in the last. Profiteering happened in the world wars, and Canada, among other nations, decided that we needed to put in a profiteering tax to stop it and to invest in people. That is exactly what we are proposing.

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Context: House Hansard - 42 - Mar/21/22

Mr. Jagmeet Singh

Mar/21/22 12:16:33 p.m.
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Madam Speaker, that is not right at all, and I am grateful to my colleague for his comments and support. Tax havens pose a major challenge because the ultrarich are hiding their money and not paying their fair share. We definitely need to resolve that problem. Today, our motion proposes to address the growing inequality in our society by imposing a 3% surtax on major corporations. Doing so will make it possible to restore justice and equality and to reinvest the money to meet Canadians' needs. We believe that this is a necessary measure.

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Context: House Hansard - 42 - Mar/21/22

Mr. Jagmeet Singh (Burnaby South, NDP)

Mar/21/22 8:00:49 p.m.
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I want to thank President Zelenskyy. We heard his words today. We want to thank him for his courage, his inspiration and his resilience. We want to thank the people of Ukraine for their courage and resilience. He asked us to imagine what it is like to wake up at four in the morning to bombing. He asked us to imagine what it is like to explain to children what is going on. Why are we being bombed? Why are we being attacked? He asked us to imagine what it would be like to lose 97 children to a war. He asked us to imagine what it would be like in our major cities and places in our country, such as Montreal, our capital city of Ottawa, or Toronto or or Vancouver if tanks rolled into these cities. He asked us to imagine what it would be like to see bombs fall on our homes, on our cities, our communities, our schools, our hospitals. He asked us to imagine that, and frankly, we cannot imagine that in a city in Canada. It is unimaginable. But we have seen the horrors unfolding in Ukraine. We have heard the words of President Zelenskyy. We have spoken with Ukrainian Canadians who share with us the pain that they are experiencing right now, not knowing if their loved ones are going to survive the night. We have heard from families that call constantly, asking if people are okay and still alive. It is unimaginable for us. He asked us to imagine what it is like, and to please help. He asked for more help. He acknowledged that so far Canada has been a strong ally, but he asked for more help, and we must answer that call. Canadians stand with Ukraine and will answer that call to provide as much help as possible in this time. Canadians want to do more. We heard from President Zelenskyy that sanctions are important, and we want to increase those. We know that is one of the most important things we can do. We know that President Putin does not care about the people and he does not care about his country, but he does care about his wealth. We know the way to attack Putin. The way to make sure that he feels the pressure of the sanctions is to target him where it counts, and that is to target the wealth that is held by his allies and oligarchs. We are on that path and we need to continue to apply the most severe of sanctions possible to specifically target President Putin and his wealth. We know that we can provide humanitarian help. Canada has done its part and needs to continue to do that. We need to welcome Ukrainians who are fleeing this crisis and seeking refuge. We need to provide humanitarian help on the ground and continue to provide that support. President Zelenskyy asked us to imagine the horrors of this war. He asked us to imagine this war happening here, in Canada. That is unimaginable. He also asked us to increase assistance to Ukraine, and we must make that happen. We must increase sanctions. We must answer the call from Ukrainians. We will do so. I think about the words that we have heard from President Zelenskyy and the speeches that he has given, and I think about the moments of courage that we have seen reported from everyday Ukrainians standing up to this violence, standing up to this flagrant aggression by President Putin, which is something that we clearly and firmly denounce. We see in those moments incredible courage, and I struggle to find the words to describe it. I think about something my mom always taught me, a phrase in Punjabi, which is chardi kala. I always misunderstood what it meant. She said that it means “rising spirits in the face of difficult odds”, and I cannot think of a more fitting phrase to describe the courage of Ukrainians and the courage of President Zelenskyy. I cannot think of a more fitting moment to describe chardi kala, rising spirits, as it defines optimism. In the face of one of the largest armies in the world, Ukrainians are saying, “We will not back down. We will not give up.” We are so incredibly inspired by them for their fight for democracy, for their fight for freedom, and we stand in full solidarity. We wish for their chardi kala, their rising spirits and their defining optimism to continue, and we will be with you every step of the way.

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