44th Parl. 1st Sess.
April 5, 2022 10:00AM
- Apr/5/22 11:02:26 a.m.
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Mr. Speaker, I thank my hon. colleague for his work on the Standing Committee on National Defence. It has been quite an honour. In terms of the procurement of the new fighter jets, of course, there must be fiscal impact assessments. However, I want to ask and ensure that the government will be performing an environmental impact assessment on this procurement process and also, under our obligations regarding the United Nations Declaration on the Rights of Indigenous Peoples, be doing an indigenous impact assessment as well.
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- Apr/5/22 11:14:55 a.m.
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Mr. Speaker, I heard my colleague across the way say, with respect to the Strong, Secure, Engaged defence plan, that the government is continuing to spend. I know we are in a position right now where the rest of the world is trying to impress upon Canada the need to get to 2% spending. The current government promised it would not lapse spending, but in the three years leading up to the end of the fiscal year of 2021, we have seen a $10-billion lapse in that spending.
Can he account for that, given that when COVID started we were printing new money at $5 billion a week? Can he put this into perspective as to where we are today?
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- Apr/5/22 1:36:23 p.m.
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Madam Speaker, as I listen to the hon. member for Battle River—Crowfoot, I am trying to wrap my head around the fact that just yesterday he was part of a group of parliamentarians who put forward a motion talking about fiscal responsibility and no new taxes, and today he is speaking about one that would propose an additional $28 billion in spending.
Can the member share more about how he would want to go about this additional new $28-billion investment?
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- Apr/5/22 2:20:10 p.m.
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Mr. Speaker, Thursday is fast approaching and with it we will see our first ever NDP-Liberal budget, a budget that promises a hard veer to the left with big spending and fiscal irresponsibility. Gone are the days when these Liberals followed the advice of their moderate colleagues like John Manley and Anne McLellan. Instead, their inspiration for the budget will come from the fringes of the NDP movement.
Is it not true that this budget will ignore the need to address inflation and the cost of living and instead give in to the extreme demands of the NDP?
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- Apr/5/22 2:21:29 p.m.
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Mr. Speaker, over the past six years we saw the economy grow. We saw hundreds of thousands of Canadians, including kids, lifted out of poverty. We have seen investments that demonstrate that at every step of the way, including through this pandemic, we had people's backs. We entered this pandemic with a strong fiscal position and we are using that fiscal firepower to support Canadians through and beyond COVID-19.
Our choice, contrary to the Conservatives, was to make sure families did not have to choose between putting food on the table and keeping a roof over their heads. We will always have Canadians' backs. We will always do it responsibly in a fiscal way.
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- Apr/5/22 2:25:03 p.m.
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Mr. Speaker, let us talk about that.
The Prime Minister systematically refuses to listen to the Conservatives, who are calling for more fiscal restraint. For the good of Canada, perhaps he will listen to advice from his own party. Former finance minister Paul Martin said that, “the time to reduce deficits is when the economy is growing”.
The time to act is now. The economy has generated huge revenues for the government because of inflation. Will the Prime Minister continue to take this money from the pockets of Canadians? Will he continue to spend lavishly until those pockets are empty, as he has done since 2015?
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- Apr/5/22 4:35:11 p.m.
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Madam Speaker, I do not pretend to be a policy expert in the domain the member just asked the question about.
On the principle of working with the United States, particularly, in a continental approach, in terms of approaches on coastal elements, I think cybersecurity is an element we also have to be focused on. I believe that now is the time to be looking at these investments. We still have to maintain fiscal balance. I have said that before in the House.
These investments, to the member for Scarborough—Guildwood, are crucial to the underpinning of our success in this country and to the rules-based international order.
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- Apr/5/22 6:32:51 p.m.
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Madam Speaker, I am very happy to have this opportunity to address our government's fiscal position, as well as the many ways that we are improving affordability for Canadians.
In 2015, we promised to invest in the future of Canada by incurring small deficits while targeting investments in economic growth. In our first four years we made significant investments in housing, transportation and indigenous reconciliation. We grew the economy while reducing poverty and unemployment to all-time historic lows. We lifted 1.3 million Canadians out of poverty and began to tackle climate change in a serious and meaningful way. We grew the size of the economy while reducing our debt-to-GDP ratio every single year.
This was an enviable financial position and was built on fiscal prudence. This position would allow us to invest further in the growth of our nation or prepare us for economic shocks that may come in the future. While we could not foresee a global pandemic or a war in Europe, when it comes to the finances of the country Canadians can rest assured that our net debt-to-GDP is the lowest in the G7 and we have improved our relative position over the course of the pandemic. We have seen strong economic growth and have recovered 112% of the jobs lost during this health crisis.
Canada remains committed to our strong fiscal anchors that were first articulated when we formed government and reiterated in the 2021 budget. This means we expect to continue to reduce our debt-to-GDP ratio while unwinding the COVID‑19-related deficits. While it is true that the cost of the pandemic was significant, it was more than reasonable that the federal government use our strong fiscal position to take on this burden. We did this so small businesses, Canadian workers and family household budgets did not have to. While Conservatives may see these investments as frivolous or unnecessary, I would expect the nine million Canadians who were able to feed their families, or the 450,000 employers who were able to employ 5.3 million Canadians, would disagree with that position.
Our government is also focused on targeted measures here at home to help Canadians make ends meet. This includes lowering taxes for the middle class, $10-a-day child care and a more generous OAS and GIS for seniors. All of these programs were not supported by the Conservatives, including increased investments in health care.
I am pleased to say this plan is working. Canada has exceeded its goal of creating a million jobs, well ahead of expectations, and we have seen the strongest job recovery in the G7 alongside the lowest net debt.
Our government's focus will continue to be on jobs and growth and making life more affordable. These are priorities that will form the foundation of our upcoming budget, as well as our commitment to continue to be a responsible and careful fiscal manager.
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- Apr/5/22 6:36:38 p.m.
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Madam Speaker, we understand all too well that Canadians are being impacted by high inflation. However, these price increases are global and Canada's rate is still lower than the United States or the average of the OECD, the G7 or even the G20. Understanding this fact, our government will continue to move forward with measures to help Canadians make ends meet while also remaining fiscally responsible. I hope the Conservatives will start to support some of those measures that help make life more affordable for Canadians.
I would like to conclude by making something very clear. The federal budget that will be tabled later this week will demonstrate how our government intends to continue building a stronger and more resilient economy, one that generates shared prosperity for all Canadians while maintaining our country's low debt advantage, long-term fiscal sustainability and strong credit rating, all while making life more affordable for Canadians.
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