44th Parl. 1st Sess.
June 7, 2022 10:00AM
- Jun/7/22 10:49:51 a.m.
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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?
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- Jun/7/22 12:53:30 p.m.
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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?
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- Jun/7/22 1:53:57 p.m.
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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.
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- Jun/7/22 2:31:10 p.m.
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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!
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- Jun/7/22 2:31:45 p.m.
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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?
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- Jun/7/22 2:33:16 p.m.
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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?
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- Jun/7/22 2:33:58 p.m.
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Mr. Speaker, our government is committed to making sure that everyone pays their fair share. We have taken concrete action by permanently raising the corporate income tax on the largest and most profitable corporations, banks and insurance companies and by introducing a 15% Canada recovery dividend on banks and insurance companies.
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