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Decentralized Democracy

House Hansard - 52

44th Parl. 1st Sess.
April 4, 2022 11:00AM
Context: House Hansard - 52 - Apr/4/22
Mr. Brad Vis (Mission—Matsqui—Fraser Canyon, CPC)
  • Apr/4/22 6:12:02 p.m.
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Madam Speaker, this morning I was reading an article in The Globe and Mail, and it was quoting, extensively, the chief executive of the Bank of Canada, David McKay. He said that he was uneasy about the economy and that there was a frustration and mistrust between the business community and the Government of Canada. He said some of those challenges are ideological, that there needs to be a shift away from a tax-and-spend approach, which does not create sustainable growth. He also said tax and spending like the government is doing is like eating Sugar Pops for breakfast. He said the government is missing a chance for long-term success and that Canada is lagging its peers on key measures of productivity and investment. The article indicated that Canada's five-year average GDP growth is the lowest among the G7 nations. When the member stands up and starts pointing fingers at me, he asks why we need to have a debate on this concurrence report. It is because it is not the Conservative Party but the Bank of Canada saying that the government and its tax-and-spend approach are ideologically hurting the country of Canada. Therefore, what is it: Sugar Pops or a bowl of Corn Flakes?
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Context: House Hansard - 52 - Apr/4/22
Mr. Mark Gerretsen
  • Apr/4/22 6:13:25 p.m.
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Madam Speaker, I love that the member cherry-picked some data. He talked about the last couple years and the average growth rather than talking about the GDP as it has applied over time. If we look at it over time, we have been successful in outpacing our G7 partners. To the point about whether we need to look at spending differently from how we have over the last two years, I do not think there is a member in the House who would disagree with that. I suggest that, as we move forward, we are certainly going to see that. We are not going to keep the same level of spending that was required to provide CERB and a lot of the other supports to individuals. If the federal government maintained the exact same spending level it has for the last two years to support people through the pandemic, I could understand the member's concern, but I really do not think that is going to happen. If that is his concern, I think he is going to be surprised on Thursday.
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