44th Parl. 1st Sess.
September 22, 2022 10:00AM
Mr. Speaker, my colleague talked about an economy that works for everyone. Well, the PBO put out a report recently and cited that the top 1% of families in this country hold 25% of the wealth while the bottom 40% hold 1.1% of the wealth.
Meanwhile, we are seeing grocery store chains, banks and oil and gas and telecom companies make record profits, while groceries, bank fees, gas and wireless fees go up. Greedflation has taken hold. We live in a country that has the lowest corporate tax rate in the G7. Meanwhile, children cannot get their teeth fixed and we have seniors who need help.
When are the Liberals going to address the greedflation? We know that the Conservatives, who are the gatekeepers for those big corporations, are not going to address it. Is the Liberal government going to do something about it? I ask because we are waiting and those people desperately need help. We are glad to see the Liberals finally vote in support of our measure on dental care, but what took them so long?
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Mr. Speaker, not once did my colleague talk about the greedflation that has taken hold in this country. We know in Canada we have the lowest corporate tax rate in the G7. How is that playing out? We have homeless people and people who cannot get dental care. We see big corporations like grocery stores, the big banks, big oil and big telecom all having record profits. Meanwhile, grocery store prices are going up, as are bank fees, fuel prices and telecom fees.
The member said that these are hard times and that it does not need to be this way. I agree. The Conservatives in Britain had the courage to charge their big oil companies a 25% excess tax on oil and gas profits. Where is the courage for these Conservatives? Where is the consciousness, because it is unconscionable that people cannot get dental care yet we have greedflation. The gatekeepers are truly the Conservatives standing up for these big corporations. It is 1% of the families in this country who hold 25% of the wealth. Meanwhile, 40% of families only hold 1.1% of the wealth. This is unacceptable, and it does not need to be this way.
When will the member deal with the greedflation that has taken a grip on this country?
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Mr. Speaker, I am delighted to take this question from the hon. member because he asked about courage. I am going to show that courage right now to him and to all Canadians. We are going to stand up against and we are going to call out the partners in crime who are pickpocketing Canadians, who are perpetrating greedflation, because as—
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Mr. Speaker, the greedflation Canadians are experiencing is from the Liberal government harvesting money from Canadians, on the backs of hard-working Canadians, with higher taxes. Its coalition partners, its partners in collection, are punishing Canadians.
If they want to give Canadians a break, if they really want to deal with greedflation, they could cut taxes. Canadians would keep more money in their pockets and the amount of wealth in this country would increase for people other than the government and its partners in collection.
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Mr. Speaker, the member for Kingston and the Islands is right to give credit to the NDP for having pushed, prodded and pulled the government to put into place a series of measures that help Canadians. The GST credit, that rebate, is on average about $500 that will go to about 12 million Canadians. As well, there is dental care, which is reflected in the other NDP bill and would be put in place to help thousands of Canadian families. Of course, the rental supplement will help nearly two million Canadians.
These are all measures the NDP and the member for Burnaby South fought for, and it is to the credit of the government that it allowed itself to be pushed, prodded and pulled in the right direction to do things that will actually benefit Canadians.
My question is about other measures the NDP has talked about. For example, “greedflation”, which is the intense profiteering we have seen as inflation has risen, means we are of course seeing the cost of food go up, but profits for companies like Loblaws and Sobeys have increased far beyond the increase in the cost of food. Will the government take measures to cut back on this profiteering, which is hurting so many Canadians at this dire time?
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