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Decentralized Democracy

House Hansard - 83

44th Parl. 1st Sess.
June 7, 2022 10:00AM
Context: House Hansard - 83 - Jun/7/22
Ms. Lori Idlout (Nunavut, NDP)
  • 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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Context: House Hansard - 83 - Jun/7/22
Mr. Sébastien Lemire
  • Jun/7/22 6:24:48 p.m.
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Mr. Speaker, I do not want to give my colleague a lesson on economics, but, considering the net profit the banks are making right now, I think we can agree that they are benefiting greatly from inflation. The increase in interest rates may provide some relief, but we are a long way from any solutions. My money is invested through Mouvement Desjardins, a co-operative, because I believe that is the best way to reinvest money in a society. There are financial solutions. I would like to see the government actually tackle tax havens. There is money in tax havens and money in the oil companies' profits. Why not institute a minimum global tax? The G7 finance ministers met in London in June 2021 and announced an unprecedented agreement on a 15% global tax rate. This would allow for better distribution of tax revenues from multinational corporations, including the big, often American, tech companies that pay a pittance in taxes, despite making massive profits, by having their headquarters in countries with very low or no corporate tax rates. These are the Bloc Québécois's ideas.
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