44th Parl. 1st Sess.
April 8, 2022 10:00AM
- Apr/8/22 12:57:28 p.m.
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Mr. Speaker, it is a pleasure to see you in the chair.
I am starting to see you in the chair so often, in fact, that I am wondering about your ambitions. I know you take great pride in being on the opposition side, but maybe you are trying to tell us something. In all seriousness, the fact that folks are kidding along speaks to the fact that you are very well liked in the House and well respected. I had the pleasure of working with you at the finance committee over the years and wish you well.
I will tell you at the outset that I am sharing my time with the member for Saint Boniface—Saint Vital.
Like any budget, budget 2022 is ultimately a statement of values. Of course, there are details: there are nuances, the technical side and numbers, but it is a statement of values. In this budget, we see a number of issues addressed. I want to speak about the budget from the vantage point of a member of Parliament from the community of London, Ontario. It is a community like so many others where people are focused on, and concerned about, housing.
I also look at this budget and see, and am thankful, that the government has continued to a take a layered or nuanced approach to housing. It is not understanding it as just one thing, but separating it and understanding that there are challenges that come along when dealing with the continued issue of homelessness in Canada. London is like all other cities in the country. It is certainly plagued with that challenge. However, there is also the issue of supply and pricing and what those mean for young professionals especially, but also for others. The budget certainly takes a view that separates those two.
The first category deals with individuals who have real social issues and challenges. They have experienced homelessness and perhaps are also dealing with alcohol or drug addiction, or could face those issues of deep poverty that prevent them from realizing their best selves, or they have mental health issues that are standing in their way. The extension of the rapid housing initiative that we have seen in this budget speaks to that ongoing issue. The extension would see, in the next few years, an additional 6,000 affordable units built. This is a hugely important outcome for these individuals: the members of our community who unfortunately fall into this category.
I would hope, and I would expect, that as part of that we would see a continued partnership among the government, the CMHC and not-for-profits to realize a good outcome. While the government is very good at identifying the problem, it is in no position, and nobody expects it to be in a position, to understand and have expertise on the ground. That varies, of course, from community to community. Not-for-profits in communities have that understanding, that knowledge and that background.
In my community, where the rapid housing initiative has been implemented, we have seen continued partnership among the federal government, the CMHC and not-for-profits to ensure that the rapid housing initiative comes to fruition. Certainly this is in municipalities as well. We are going to continue to work with them to ensure the quick construction of units.
On the other side of the ledger, there is the new housing accelerator fund. This is $4 billion over five years beginning in 2022-23. It will be operated by the CMHC, and the focus is on supply. I mentioned before that we have to divide housing. We have to understand it for what it is: an inherently complex area of policy. There is no silver-bullet solution, so to speak. We need to understand that, while the rapid housing initiative will deal with the problems that I spoke about just now, the issue of affordability and of rapidly escalating housing prices is something that needs to be dealt with through other policy mechanisms.
For example, in London, we have seen the average cost of a home that was around $400,000 just a few years ago double to in excess of $800,000 by last count. This is affecting the city. This is affecting the wider region. We have had many individuals drive until they qualify. It is no fault of their own. They are going to do what is best for their families. They have left the GTA, for example, and have come and settled in London.
A program such as this speaks to that challenge because, as more people have come and as our population has increased, we see supply challenges. London is one of the fastest-growing communities in the entire country. A program like the housing accelerator fund puts assisting municipalities with issuing permits as quickly as possible, and cutting down on other red tape and delays, at its very core.
It is great to see that the government has listened to the home builders, for example, across the country. Certainly, I want to thank home builders in London, Ontario. The London Home Builders Association does great work. I have engaged with its members over the years on this issue.
Realtors have brought this up. I want to thank the London-St. Thomas Association of Realtors, or LSTAR, for its work.
This is something that will deal with the issue of supply and ensure that Canadians faced with the challenge of home prices will hopefully, in the near future but not immediately, see an effect and a downward trajectory in overall home prices.
The other thing I wish to talk about, still focused on housing because it does remain the top issue in my community, is the announcement by the government yesterday of the creation of the tax-free first home savings account. This is something that I spoke about at great length during the election campaign. I was going door to door and engaging with constituents, not just young people, for example, who were having a tough time in terms of being priced out of the market right now in London. Their parents were also deeply anxious about the prospects for their kids going forward, in terms of being able to afford homes.
This is a program that would allow first-time home buyers to save up to $40,000 tax-free. The funds would be contributed. They would go in on a tax-free basis and be withdrawn again tax-free. No tax would be applied on any investment gain.
As I have said, it is great not just for young people, but for anybody facing the challenge of getting into the market right now. The top concern that I hear constantly is about putting together the money for a down payment. A tax-free account such as this, modelled on the TFSA but also on the RRSP system, would go a long way toward helping families.
For the last thing that I will talk about, I will go in a different direction. I do so in my capacity as the parliamentary secretary to the Minister of National Revenue. It is an enormous honour to work with her on issues relating to revenue in general and specifically the CRA: the Canada Revenue Agency.
As we saw yesterday, budget 2022 proposes $1.2 billion over the next five years beginning in 2022-23. This would go to funding the audits of large entities and non-residents engaged in aggressive tax avoidance. It would also increase the prosecution of those engaged in tax evasion.
We have seen great efforts in this direction over the previous four or five years, beginning in budget 2016, in fact. We saw a very significant increase to the CRA by way of this government's commitment and the recognition that investing in the CRA does yield a result. In fact, for every $1 invested, $5 is returned.
I want to thank the officials and the public servants of the Canada Revenue Agency for their work over the years. Of course, there is much more work to do on the issue of avoidance and evasion, but we are certainly seized with that on this side of the aisle. We take the ideas of the opposition on this as well, but there have been gains in this direction. I would expect those gains to continue, certainly building on the investments of the past few years and yesterday's announcement as well.
I look forward to engaging with colleagues so that we can see these measures fully passed and dealt with so that they can benefit the country.
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Mr. Speaker, it is good to get a question from a colleague who I have the pleasure of working with on the public accounts committee. While we do not know each other terribly well, it has been good to begin to get to know him over the past few months.
I know there is interest in Bill S-216. I have heard it from other members of Parliament on the government's side and from colleagues in opposition. We shall see. The budget does talk about the spirit of Bill S-216. What that ultimately means in terms of how that will manifest is something to be discussed among colleagues in the House.
I would also be very happy to engage with the member opposite by way of a phone call, a coffee or whatever it might be to hear his thoughts on why this reform is needed and the best ways to go about it.
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- Apr/8/22 1:10:28 p.m.
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Mr. Speaker, I thank my colleague for the question.
I would simply tell my colleague to look at the actions of the government during the pandemic. Seniors certainly were a major focus for the government, and we will continue to make seniors a priority. There are a few things I could, by way of specifics, look at in the budget in speaking to the needs of seniors. They are areas where Canadians would benefit in general terms. One is the issue that I spoke about at the outset of my speech: the rapid housing initiative. I can tell the member that so many seniors in housing need have benefited through that program. The pharmacare and dental care will go a long way to support seniors, as well.
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- Apr/8/22 1:12:11 p.m.
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Mr. Speaker, this is the party of Lester Pearson, so any time the issue of foreign aid comes up, I am always going to be receptive to suggestions. I would also encourage my friends in the NDP to recognize the fact that the international environment on security issues and on issues of war and peace has changed, and I would encourage them to look at what most Canadians are calling for, which is more military spending. I am glad to see that the budget moved in that direction yesterday.
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