44th Parl. 1st Sess.
June 7, 2022 10:00AM
- Jun/7/22 10:31:36 a.m.
- Watch
Mr. Speaker, I read in the Journal de Québec this morning that Suncor's profits are basically set to triple from $4 billion to $11 billion for the coming year. The same is true for Imperial, which will have profits of $6.2 billion. As we know, Boris Johnson's government has imposed a 25% tax on oil companies' profits.
Earlier, I heard my colleague say not to vote for the Conservatives, but to vote for Canadians. I think she said that wrong. What she should have said was do not vote for the Conservatives, vote for the oil companies.
Does my colleague agree with me?
112 words
- Hear!
- Rabble!
- add
- star_border
- share
- Jun/7/22 10:49:51 a.m.
- Watch
Uqaqtittiji, I have shared in the House several times the food insecurity issues that are suffered by my constituents and many indigenous peoples. Meanwhile, major corporations, such as Loblaws and The North West Company are reporting billions and millions in profits, as well as billions and millions in dividends going to shareholders.
Instead of increasing the profits of these major corporations, why do the Conservatives not support taxing their profits to help people before they fall further into food insecurity?
80 words
- Hear!
- Rabble!
- add
- star_border
- share
- Jun/7/22 11:03:55 a.m.
- Watch
Mr. Speaker, I would like to thank my colleague for her speech.
It is quite disappointing to see the Conservative Party move an omnibus motion that combines so many issues. That said, the Conservatives are acknowledging some basic points, such as the situation for low-income earners who are struggling right now because of high inflation. I am not getting the impression that the government is doing much about that.
Is my colleague prepared to consider a surtax on oil companies making record profits, as well as a surtax on companies making over $1 billion in profits?
With this money, we could help the poorest people cope with the cost of gasoline and groceries. We could immediately stop cuts to the guaranteed income supplement for seniors. It is hard to believe that those kinds of cuts are even being made right now.
I would like to hear my colleague's thoughts.
152 words
All Topics
- Hear!
- Rabble!
- add
- star_border
- share
- Jun/7/22 11:04:47 a.m.
- Watch
Mr. Speaker, I really appreciate that question. We, too, believe that everyone must pay their fair share. That is why we brought in a tax on banks, which made huge profits during the pandemic.
We also proposed a luxury tax on expensive boats and aircraft because we understand how important it is to continue to support vulnerable Canadians. In our budget, we are proposing one-time payments for Canadians who are struggling to find affordable housing. We are proposing measures to help our seniors and to support Canadian families.
I think we completely agree on the principle. I also appreciate the Bloc's suggestion to tax oil companies. We will also look into that.
114 words
All Topics
- Hear!
- Rabble!
- add
- star_border
- share
- Jun/7/22 12:51:35 p.m.
- Watch
Madam Speaker, I thank my esteemed colleague for his intervention. Rather than eliminating the taxes on gas, does he not think that we should charge a special tax on the profits of oil companies, which have reached a record high this year?
We could also introduce a special tax on businesses that made more than $1 billion in profit last year in order to help those most affected. We could stop decreasing the guaranteed income supplement for seniors and increase old age security.
We could find solutions other than eliminating a tax, whose only impact will be to make oil companies die of laughter in a few months, when they will have quietly increased their prices to recover those amounts and once again line their pockets, even though they are already handsomely benefiting from the current situation.
138 words
All Topics
- Hear!
- Rabble!
- add
- star_border
- share
- Jun/7/22 12:53:30 p.m.
- Watch
Uqaqtittiji, The North West Company is a multinational Canadian grocery and retail store, which, according to its reports in October, said its profits were 57.6% higher than at prepandemic levels. Does the member agree that taxing the windfall pandemic profits of big corporations is a better way to help Canadians?
51 words
All Topics
- Hear!
- Rabble!
- add
- star_border
- share
- Jun/7/22 1:53:57 p.m.
- Watch
Uqaqtittiji, Suncor reported net profits of over $4 billion. It distributed $3.9 billion to its shareholders. The motion before us seems to indicate that the Conservative Party is acting as a gatekeeper for such corporations.
I would like to ask the member why his party thinks that cutting taxes at the pumps will stop big oil and gas from simply raising gas prices.
64 words
All Topics
- Hear!
- Rabble!
- add
- star_border
- share
- Jun/7/22 2:31:10 p.m.
- Watch
Mr. Speaker, one out of every four Canadians in this country is going hungry because they cannot afford groceries. At the same time, corporations are making record profits. They are breaking record after record.
Our plan is to tax the excess—
Some hon. members: Oh, oh!
47 words
- Hear!
- Rabble!
- add
- star_border
- share
- Jun/7/22 2:31:45 p.m.
- Watch
Mr. Speaker, I just mentioned that Canadians are hungry and I hear laughter in the chamber. They should be ashamed of themselves.
One out of every four Canadians is hungry because they cannot afford groceries, while corporations are making record profits and are responsible for one-fourth of the inflation that Canadians are experiencing. Our plan is to tax the excess profits of these corporations and put the money directly into the pockets of Canadians who need it.
When will the government stop protecting the wealth of these corporations and start standing up for families that need help right now?
100 words
- Hear!
- Rabble!
- add
- star_border
- share
- Jun/7/22 2:33:16 p.m.
- Watch
Mr. Speaker, we need to expand the tax that has been proposed for banks to the profitable oil and gas sector and corporate big box stores that are making record profits while Canadians are hungry and cannot afford food.
A quarter of Canadians are going hungry because they cannot afford groceries, while corporations are making record profits. Our plan is to tax those excess profits and redistribute the money directly to families.
When will this government stand up for families instead of protecting the profits of big corporations?
88 words
- Hear!
- Rabble!
- add
- star_border
- share
- Jun/7/22 4:08:18 p.m.
- Watch
Madam Speaker, if the Liberal and Conservative governments would have had courage in the past, and if taxation was fair in this country, we would not be in the mess we are in right now. We would already have pharmacare, affordable child care and affordable housing in this country.
Will the Liberals tax the outsized profits from big box and grocery retail?
62 words
- Hear!
- Rabble!
- add
- star_border
- share
- Jun/7/22 4:25:18 p.m.
- Watch
Madam Speaker, I can tell the hon. member that seniors, single moms and persons with disabilities do not need a lecture from this government on inflation. What they need is food on the table for their families this summer.
My question is this: Will the Liberal government finally start taxing outsized profits so that we can share some of this prosperity with the community?
64 words
All Topics
- Hear!
- Rabble!
- add
- star_border
- share
- Jun/7/22 4:25:48 p.m.
- Watch
Madam Speaker, I am shocked.
The federal government is already taxing those who are making excess profits. There is an excess profits tax built right into the system, so I am not quite sure what the hon. member is driving at, but those companies that are making extraordinary incomes will receive an excess profits tax allocation when they file their returns.
61 words
All Topics
- Hear!
- Rabble!
- add
- star_border
- share
- Jun/7/22 4:54:25 p.m.
- Watch
Madam Speaker, I thank my colleague for his speech.
The leader of the NDP has made some interesting proposals. Banks, insurance companies and oil companies are making record profits, while people are struggling to pay their bills.
Why not impose a temporary tax on excessive profits so that we can take that money and redistribute it to people through the Canada child benefit and by doubling the GST tax credit? That is far more practical and fair.
77 words
All Topics
- Hear!
- Rabble!
- add
- star_border
- share
- Jun/7/22 5:10:29 p.m.
- Watch
Madam Speaker, Canadians are going to the grocery store and to the gas pump, and they are seeing these eye-wateringly increased prices on the basic necessities. At the same time, the companies that sell those necessities are not simply passing along higher costs. They are also making dramatic profits.
I am wondering if my colleague across the way could tell the House why his government has refused to consider a windfall profits tax on companies that are making dramatic profits, similar to the tax that the U.K. has put in place on oil and gas companies that are gouging consumers.
102 words
All Topics
- Hear!
- Rabble!
- add
- star_border
- share
- Jun/7/22 5:40:35 p.m.
- Watch
Mr. Speaker, I share the member for Hastings—Lennox and Addington's concerns about affordability. The carbon tax increase she mentions, though, is a total of 2.2¢ per litre, and it is supported by most economists as the most effective way to address the climate crisis. Meanwhile, CBC recently reported that wholesale margins, profits for oil and gas companies, have increased 18¢ a litre, while oil and gas companies are also posting record profits.
Can the hon. member share why a tax on these windfall profits is not part of the Conservative motion to help get money back in the pockets of Canadians?
107 words
All Topics
- Hear!
- Rabble!
- add
- star_border
- share
- Jun/7/22 6:12:45 p.m.
- Watch
Mr. Speaker, I very much like the idea of a temporary tax on excess profits. My colleague says that the Bloc Québécois is not the only party to propose that idea. Indeed, the NDP is also proposing it.
What does my colleague think of the idea of taking that money and increasing the GST tax credit and the Canada child benefit, which would actually help the most disadvantaged families and the middle class, who are struggling right now?
82 words
All Topics
- Hear!
- Rabble!
- add
- star_border
- share
- Jun/7/22 6:23:50 p.m.
- Watch
Mr. Speaker, I heard the member speak towards the end of his speech, as one of his examples, about the way that the government was approaching banks in terms of the excess profits that they have been making over the last couple of years. He would seem to suggest that there are supports that are being given out to banks as we speak.
However, the reality of this situation is that there is an excess profit tax that is specifically being applied to banks and other businesses that saw windfall profits during the pandemic. Can the member at least accept the fact that the government has introduced that measure to make sure that banks in particular are paying their fair share as it relates to dealing with the problems that we had during the pandemic and the supports that had to be distributed during the pandemic?
146 words
All Topics
- Hear!
- Rabble!
- add
- star_border
- share
- menumenu
- notificationsnotifications
- home
- mailmail
- searchsearch
