44th Parl. 1st Sess.

May 2, 2022 11:00AM

May/2/22 10:26:00 p.m.
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Re: Bill C-8

Madam Speaker, thank you for the opportunity to chime in on this debate again. Bill C-8 is actually a piece of implementing legislation that arises out of the biggest spending budget in Canadian history, namely budget 2021, which was tabled well over a year ago. That budget set a record because the Liberal government had not tabled a budget for well over two years, which is something that has almost never happened in Canadian history. Budgets are intended to be tabled every single year to give Canadians a picture of what their finances look like and a picture of what the government wants to spend their hard earned tax dollars on and how much the government is going to borrow to try to deliver the services Canadians receive. Bill C-8 is coming out of the biggest budget ever seen in Canada. It has over half a trillion dollars' worth of spending in one year, and members can think about that. It ended up doubling Canada's national debt. That is how big this budget was, so members can understand why it was critical that the official opposition, which is the Conservative Party, and other opposition parties in this House had an opportunity to exercise oversight over this huge budget. Of course, a budget in itself is not legislation. It is simply the government's statement of what it intends to do the following year. The government brought forward this budget document, then over the subsequent months of 2021, it began to roll out enabling legislation. First it was the budget implementation act, then different pieces of legislation after that. Along the way the government also tabled in the House something called a fall economic statement, which gives Canadians a six-month update on where the finances of the nation are and what the government still plans to do arising out of the budget. Out of that process has come this bill, Bill C-8. Again, it is a bill that spends well over $50 billion of taxpayers' money, much of it borrowed, by the way. Members can understand why we are reluctant to force this through the House of Commons. Members will understand why we are reluctant to ram this thing through without proper oversight and accountability, yet it is the Liberal government that, every step along the way, has tried to do exactly that. It has tried to push this along faster that it should be. In fact, the Liberals have accused us of delaying this bill, when all we have done is exercise proper oversight, which is something the Liberal government really hates. I look back at the mandate letter the finance minister received from the Prime Minister just over a year ago, and that mandate letter actually had a specific provision in it that said that the government was seeking to be transparent and accountable in everything it did, including when it came to budgetary matters. In fact, that was the direction to the finance minister. It was for her to be as transparent as possible with the finances of this nation, yet we see here the Liberal government doing everything it can to push through legislation that requires proper oversight. Let me place this in a larger context. I have already mentioned the fact that the government has embarked upon the largest spending spree in Canadian history. In fact, over the last year or so it has doubled the national debt, if members can imagine that, and since it was elected in 2015, the government has increased spending by some 53%. Since 2019, which was before COVID, the government has increased spending by 25%. For most household budgets in the country, if they tried to increase their spending like that, they would have to go to their local insolvency specialist and say, “Hey, listen. We cannot meet our payments anymore. Please help.” However, with this government, it is spend, spend, spend. It is a Liberal tax and spend problem that this country has gained since our former Conservative Party lost the election in 2015. Do members know what makes this worse? A year ago, when that 2021 budget was tabled, there were already warning signs. The economy was starting to recover and our Parliamentary Budget Officer had warned the government that inflationary pressures were building and that this extra 100 billion dollars' worth of stimulus that the finance minister had set aside to stimulate the economy might not be necessary. In fact, it might might be overkill. We know now that the government has spent somewhere in the order of $176 billion of spending that is not COVID-related. In other words, it was in the nature of stimulus, which it pumped into the economy, and then Canadians are surprised, and the Liberals are surprised, that we suddenly have rampant inflation. Today we know that the inflation rate is 6.7% and continues to go up. In fact, economists are incredibly worried right now about the rate of inflation in this country. They are concerned because now the Bank of Canada, our central bank, has had to step up. It is starting to increase interest rates, which, of course, impacts mortgage holders across Canada and loan holders across Canada. Typically, those are businesses and small businesses, and typically those are households that are highly indebted and are very vulnerable to high rate increases. That is what we are seeing happening around us right now. We have the twin scourges of inflation on one side and increasing interest rates on the other, which are going to severely pinch Canadians and are going to make life even more difficult at a time when we have an affordability crisis in the country. It is in that context that the government is still proposing to spend, spend, spend. How do I know that? Bill C-8 actually comes out of the previous year's budget. One would have assumed that the government would have learned from its mistakes, and that its next budget, budget 2022, would taper off spending, would control and discipline spending. In fact, what happened in the 2022 budget? It is just as bad. There is $56 billion of new spending, much of it permanent spending that will bind future generations to these programs the government is creating. The bottom line is this: These Liberals have been pounding their desks saying, “Hey, we have to get this passed, quickly, quickly, quickly”, and we have resisted. We said that we were going to take our time to review this legislation because there are things in this legislation that we support, such as tax credits for teachers and for farmers. We support those things. From time to time, we have asked the government to pull those things out of this legislation so that we can vote on them separately. Of course, the government says no. They want us to vote against the whole of Bill C-8, so they can blame us for voting against things that we actually support. We are not going to be bullied. We are not going to be pushed. We are going to take our time and do this job properly. We have no choice but to vote no against Bill C-8 because it is perpetrating an incredible expense and massive debt on future generations of Canadians, and I just do not want to allow that to happen.

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Context: House Hansard - 62 - May/2/22

Mr. Blake Richards (Banff—Airdrie, CPC)

May/2/22 11:08:04 p.m.
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Re: Bill C-8

Madam Speaker, regarding the government's budgetary policy, one of the big challenges this country faces right now is inflation, which is driving up the cost of everything. I would love to hear the member's thoughts on that and on the government's role in that, and what he thinks can be done to help ease the cost of living for Canadians.

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House Hansard - 62