44th Parl. 1st Sess.
April 4, 2022 11:00AM
- Apr/4/22 1:08:00 p.m.
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- Re: Bill C-8
Madam Speaker, I will continue with the question I asked another Conservative colleague earlier about the housing crisis.
This morning, Radio‑Canada posted a very interesting article on housing, which reads as follows:
The largest program under the national strategy is the rental construction financing initiative. This program has a budget of nearly $26 billion, or 40% of the national housing strategy....According to the initiative's rules, 20% of the units have to be affordable....The problem is that only 3% of the units funded by the initiative meet the needs of low‑income households.
We are spending 40% of $26 bilion on this affordable housing program, but only 3% is effectively being used to build affordable units.
My Conservative colleagues are always worried about inflation, but how can we both house people and prevent inflation from rising?
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- Apr/4/22 1:09:31 p.m.
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- Re: Bill C-8
Madam Speaker, I listened to the member's speech with great interest. I think we share some characteristics in our ridings, where a lot of people do not have good alternatives for getting to work other than to drive their cars. They are facing really, really high cost increases from the gas increases.
I wonder whether the member is also on board with me in hoping that the budget that comes forward will include significant financing for public transit, so people would have affordable alternatives, and will include significant financing for the transition to electric cars.
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- Apr/4/22 2:19:09 p.m.
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Mr. Speaker, as prices soar, government debt climbs and Canadians suffer through the worst inflation in 30 years, many observers are saying the Liberals have lost their way. Instead of presenting a responsible budget on Thursday, these NDP-Liberals are going to be spending outrageous amounts of money on big permanent programs, and that means more debt and more taxes.
Is there anyone left on the Liberal side who would like to see a responsible budget, or have they all turned into closet NDPers on that side of the House?
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- Apr/4/22 2:20:16 p.m.
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Mr. Speaker, under previous Liberals like Jean Chrétien and Paul Martin, there was a sense of fiscal responsibility among their ranks. My, how the current Liberals have changed. Even former finance minister John Manley said, “Tax and spend is not a growth agenda.” We agree with him.
Canadians want a responsible budget that will deliver tax relief, not cost Canadians more. Will the Prime Minister listen to some reasonable people in his party, abandon his NDP ways and present a responsible budget?
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- Apr/4/22 2:22:36 p.m.
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Mr. Speaker, we are only days away from the very first NDP budget. The NDP members have won. Unfortunately, there are no fiscally responsible Liberals left in this government. Gone are the days of hearing a Liberal finance minister like John Manley say that tax and spend is not a growth agenda.
What is the point of the Liberal Party if it is willing to sacrifice its values and our country's future just to implement an NDP agenda?
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- Apr/4/22 2:23:42 p.m.
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Mr. Speaker, spoken like a true New Democrat.
The fact is that young families are seeing their dream of home ownership turn into a nightmare. Inflation is at its highest in 30 years. Everything we buy costs more.
What is the Prime Minister's priority in this Thursday's budget? It is to please the NDP with a long list of new permanent spending so that he can stay in power until 2025. Jean Chrétien, Paul Martin or John Manley never would have dared to sacrifice their party like that. It cost only 20 or so votes to buy Liberal values.
Why are all the Liberal MPs staying quiet when Canadians need a bit of breathing room, not new taxes?
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- Apr/4/22 2:30:43 p.m.
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Mr. Speaker, while Canadians are facing sky-high inflation, which has led to higher grocery and gas prices, and a housing affordability crisis, they want real solutions from this government. They want a plan to fight the skyrocketing cost of living that has left so many behind. Another budget with an avalanche of spending will only fuel inflation, leaving future generations with more deficits and more debt to repay.
I ask the minister this: Will the government's upcoming budget present a plan to fight inflation, grow our economy and return to balanced budgets?
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- Apr/4/22 2:32:00 p.m.
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Mr. Speaker, my question is to the minister.
Money does not grow on trees. Virtue-signalling does not feed people or put gas in their car, and it does not buy a home. What Canada needs is a plan for growth with investments in jobs and productivity. We need a budget that has a real debt-management strategy with a firm fiscal anchor and a clear path to returning to balanced budgets.
Will the upcoming spend-DP-Liberal budget include a plan to control inflation, a strategy to grow our economy and a return to balanced budgets?
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- Apr/4/22 2:33:21 p.m.
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Mr. Speaker, last week, the former parliamentary budget officer indicated that this is not the environment in which we want to do deficit spending. The economy is in recovery, and unemployment is low, while the Bank of Canada is struggling to deal with inflation we have not seen in 30 years.
Does the Minister of Finance realize that additional spending risks making inflation worse, yes or no?
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- Apr/4/22 3:07:30 p.m.
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Mr. Speaker, across Canada, declining habitat and years of poor management have put Canada's fish stocks at risk. Coastal communities and workers are feeling these impacts first-hand. They want to be a part of the solution to protect our marine ecosystems, but they are being left behind by a lack of support by the government.
Instead of fighting with workers trying to make ends meet, will the minister confirm that a fair transition plan for workers across Canada's fishing industries will be part of the budget?
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- Apr/4/22 3:08:11 p.m.
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Mr. Speaker, clearly I will not be talking about what is in the budget, but what I will say is that we are very committed to growing our fish and seafood sector, which means having sustainable stocks. We are working on that as well as transitioning to bring more indigenous communities into being able to satisfy their right to fish, while working with the harvester community on this transition.
I will continue to be engaging with all of the stakeholders to have the best possible way forward.
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- Apr/4/22 3:31:32 p.m.
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moved that the third report of the Standing Committee on Finance, presented on Monday, March 21, 2022, be concurred in.
He said: Mr. Speaker, it is a pleasure to speak to members this afternoon. I would like to mention that I am splitting my time with the member for Leeds—Grenville—Thousand Islands and Rideau Lakes.
The world is different now than it was just a year ago. We have an unprovoked invasion and war by the Russian Federation against Ukraine that threatens our global security and shattered peace in Europe, inflation is anything but transitory and COVID restrictions are lifting across Canada, giving hope to our nation that we can return to some normalcy. However, it is in this global context that we must consider the budget.
Our committee heard testimony from a number of witnesses about what they would like to see in this year's budget. The budget can provide some opportunities and can deal with some challenges that our country faces. There is no question that our government needed to provide unprecedented levels of support to Canadians and businesses during the early days of the pandemic. However, as pandemic concerns abate through our greater understanding of the virus, we must be prepared to evolve our approach to government spending.
Closer to home, Canada must put its own economic house in order so that we can respond to the changing global context. We have to re-establish Canada as a destination for investment, and supply the world with ethical, conflict-free energy. If we want to stop Mr. Putin's war machine, we must help our allies reduce their dependence on Russian energy by ensuring that our energy can reach global markets. Furthermore, we can create a secure North American energy market that uses all sources of Canadian energy, including renewables, traditional fuels and nuclear energy. That is how we will help defeat Mr. Putin.
At home, the number one issue affecting Canadians is affordability. At the grocery stores, at the gas pumps and at retail shopping locations, prices keep going up and up. Our purchasing power is shrinking faster than at any other point in the last 30 years. This is a silent tax that hurts the economically vulnerable and those on fixed incomes, such as seniors, the most.
There are several ways the government can address this, and we heard some of them at committee.
We can reform competition policies and help lower prices for consumers by increasing competition in key sectors, which includes banking, air travel and telecommunications. If we believe excess profits exist in these industries, the answer is not additional taxes to increase government revenues. Rather, consumers should capture these excess profits in the form of lower prices.
We should reform the one-for-one rule on regulatory burden. Instead of taking out a regulatory rule for every one we bring in, why do we not just cut the regulatory burden by 50% over five years? Let us be ambitious.
We can quicken the implementation of the beneficial ownership registry for Canadian corporations that look to the Canadian market to hide assets in the form of money laundering. Most of those laundered funds end up in real estate, which distorts our local real estate markets. Just last week, the Bank of Montreal indicated that in six years there has been a threefold increase in housing prices in Orillia, which is in my riding. How can we expect young Canadians to look at this country and think that home ownership is in the cards for them?
We need to focus on economic growth. We have seen an unprecedented growth in the size of government by every available measure, but at this point we must focus on the private sector to take advantage of the entrepreneurial spirit of Canadians. The government has seemed more interested in wealth redistribution than it is on underlying economic growth, and this must change. We do not need new superclusters or national consultations distorted by well-connected lobbyists and rent-seekers. We must create an environment where businesses of all sizes can thrive. Businesses that grow create jobs and pay taxes.
An overarching opportunity following the pandemic is the rapid deployment of high-speed Internet across all regions of the country, and that is very important to the people in Simcoe North. It is nice that, as we heard just today, the government might be subsidizing and working with those who are of low income so they can access high-speed Internet, but this really will not help those who do not have access to high-speed Internet in the first place.
Tax policy that penalizes success also drives investment away. It is not a surprise that in the year following the changes the government made to the marginal tax rates in 2016, the government received far less revenue than it anticipated. These short-sighted policies can drive businesses, jobs and tax revenues to other jurisdictions. This hurts Canada through lower tax revenues that are used to fund social programs enjoyed by all Canadians: health care, retirement security and, of course, education.
Furthermore, industry-specific tax policy is a very poor idea. The government should set a consistent rate applicable to all sectors. Capital can move freely across borders, and in some sectors, like financial services, companies can shift operations and profits to other jurisdictions. Additional taxes on oligopolies are only going to result in higher prices for consumers or lower levels of investment.
We must carefully understand the negative impacts of certain tax policy changes. For example, the luxury boat and car tax we heard at committee will only increase the sales of these products in foreign markets, notably the United States. This will drive investment, jobs and taxes out of Canada with very little revenue increase for federal coffers. My riding has one of the largest freshwater marinas in the world, plus another dozen or so other marinas. This is going to take jobs out of my community and will hurt the people of Simcoe North.
When it comes to fiscal responsibility, now is the time to make a new path. The Bank of Canada indicates that the economy is robust and is operating near full capacity, which means additional fiscal expansion will just create inflationary pressures. These warnings are coming from all corners of the country. It has been almost 10 years since the federal government underwent any serious scrutiny of its spending, and it is unhealthy for an organization of its size to go this long without reviewing its expenditures.
It is even more important now to rationalize our non-core expenditures to focus on priority areas, including our national defence. We must support our allies, such as Ukraine and those in NATO, and we need to be able to defend our Arctic sovereignty. Pulling forward defence expenditures to displace other planned spending is a sacrifice that Canadians are willing to make in the face of increasing threats from the Russian Federation.
Additionally, the government is going to see a windfall of revenue resulting from persistent inflation, higher-than-expected oil prices and, yes, higher taxes. These excess revenues should be used to reduce the size of the deficit or provide relief to Canadian families in the form of tax holidays. Significant deficit spending at all stages of the economic cycle will have a protracted impact on the fiscal sustainability of government finances. It will threaten our AAA credit rating, which is only going to drive up the cost of borrowing. We cannot continue to erode the country's fiscal position with no plan to rein in unnecessary expenditures. The ability of future governments to deal with the emergencies of their time depends on the responsibility of our government today.
We also must think about the overarching regulatory framework in the country with respect to financial regulation. We are still waiting for open banking regulations. We are still waiting for the government to get serious about innovation in the financial services sector. However, we need to consider asking our agencies to get back to basics. The emerging housing affordability issue and related financial system vulnerability expose serious concerns about the effectiveness of our regulatory system in Canada. We have agencies on one day saying one thing about the housing market, and on the next day, a different agency says the complete opposite. That cannot be left to continue. We also need to make sure we have the right people and HR strategy to attract those who have knowledge about the financial services sector to help us through this transition.
Finally, there are a few items I would like put forward that we heard at committee that the government should be considering.
We talked about high-speed Internet. We need to re-establish the Lake Simcoe cleanup fund. We have to fund the Great Lakes Fishery Commission. We have to implement a two-year ban on purchases of real estate by non-resident Canadians. Let us take the wind out of the sails of this red-hot property market. We have to follow through on the existing mental health and addictions commitments for an opioid addiction strategy. Finally, we need to ensure that we can introduce employee-owned trusts that will help our business owners transition business interests to employees. I hope we will make some headway on affordable housing and all kinds of housing in this budget.
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- Apr/4/22 3:45:37 p.m.
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Madam Speaker, the third recommendation in the report calls on the government to factor in population aging in the provinces and territories in the formula for calculating the Canada health transfer.
Just this afternoon, Quebec's entire medical community called for a health care summit to be held so that the federal government can consult with stakeholders and the provinces and territories. They are all calling for health transfers to be increased to 35% of total costs.
I expect to see this in the budget. Is that what the member expects as well?
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- Apr/4/22 3:46:16 p.m.
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Madam Speaker, I certainly hope we can have an honest conversation about health care. The government campaigned in 2015 that the health care funding formula was broken. What do we have? We have the continued use of Prime Minister Harper's health care funding formula. It is time we have a good conversation with our provincial colleagues about that, and I look forward to hearing more about that in this budget.
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- Apr/4/22 3:56:41 p.m.
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Madam Speaker, I am wondering if the member is aware of the fact that when he ran in the election in September of last year, his party was actually proposing to spend even more money.
More importantly, when he talks about a path to balancing the budget, what kind of path is that exactly, because the path that he ran on in September of last year was a path of 10 years. Is he saying that 10 years is the magic number, or is he now saying five years is the number, or is it 15 years? Can he quantify how many years is appropriate and if it is, indeed, what he ran on six months ago?
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- Apr/4/22 3:58:32 p.m.
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Madam Speaker, the Conservatives often talk about abolishing the carbon tax to help people cope with the increased cost of living. I think there are other ways to achieve this, since the carbon tax is a good way to combat climate change.
The Bloc Québécois has made a few suggestions, such as doubling the GST rebate for quarters in which inflation surpasses the Bank of Canada's target, increasing the monthly Canada child benefit in accordance with inflation and providing targeted support for the sectors that are suffering the most from increased input costs.
Does my hon. colleague agree with these suggestions and does he expect to see these kinds of measures in the budget on Thursday?
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- Apr/4/22 4:08:29 p.m.
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Madam Speaker, as a point of order on relevance, we are discussing the pre-budget consultation and concurrence. Maybe the member could steer his thoughts and start talking about that.
Some hon. members: Oh, oh!
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- Apr/4/22 4:22:54 p.m.
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Madam Speaker, I want to congratulate the member for actually mentioning the pre-budget consultation report, which is the actual thing we are supposed to be talking about here in the motion. Actually, the title is, “Considering the Path Forward”. I would hope—
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- Apr/4/22 4:23:54 p.m.
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Madam Speaker, I really believe I should get a bonus two minutes because I had to entertain points of order.
Having said that, with respect to consultation, which is so very important, from the very beginning we have been working with Canadians in a very real and tangible way. An excellent example is what we have done with respect to seniors. In the first few months, there was a substantial commitment for the GIS increase. It was somewhere around $800 or $900 to max out. It literally lifted hundreds of people out of poverty in Winnipeg North. Seniors from Winnipeg North were lifted out of poverty because of that one particular initiative.
I know members want to talk about something more recent. In the pandemic, we had one-time payments for both OAS and GIS. We also supported people by listening to the many different organizations that are out there to support seniors. We literally gave tens of millions of dollars to those organizations to enhance services for seniors during the pandemic. We have now brought forward a budget that is actually seeing a 10% increase in OAS for seniors over 75.
We take the issue of consultation very seriously. We have a Minister of Finance and the finance department. As I have referenced before, the Prime Minister, over the years, has been very consistent in terms of his expectations of members of the Liberal caucus. That was to get the sense of, and be advocates for, the ridings that we represent and to bring the voices of our constituents to Ottawa. I believe that, in good part, we do that.
We factor that in, along with the many different types of round tables, meetings and discussions that have been happening through a multitude of different ministers all focusing in with the Deputy Prime Minister and Minister of Finance. In a couple of days, we are going to see a budget that will reflect what Canadians really want to see. It is, first and foremost, going to be a team Canada-reflected budget on Thursday.
I know to a certain degree that the far-right element within the Conservative Party, which has really raised its head in the last number of weeks, will likely be a little disappointed.
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- Apr/4/22 4:38:59 p.m.
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Madam Speaker, after listening to the commentary and speech from my colleague across the way, I have to say that with respect to our responsibilities as members of Parliament, there are two things. One is to talk about all the things we would advocate with respect to spending, and the member went through a litany of what that would be. What was completely absent from all of that discussion was how we are going to pay for it.
In these conversations we are having this week in the lead-up to the budget and in the report we have here from the committee and in numerous other factors, the government does not tell us how it is going to pay for that spending because it is not going to. It is adding to our federal debt and our annual federal deficit. We were already projected to have that before the recent NDP-Liberal deal or coalition agreement, whatever the budget may be this week. If the government is saying it is going to spend on A, B, C or D, I think it is important for Canadians to know how it is going to pay for it.
The member has been quiet on that because there is no way to do it. It is adding to the country's credit card and letting somebody else have to deal with it down the road.
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