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Decentralized Democracy

House Hansard - 101

44th Parl. 1st Sess.
September 23, 2022 10:00AM
Context: House Hansard - 101 - Sep/23/22
Ms. Christine Normandin (Saint-Jean, BQ)
  • Sep/23/22 10:28:25 a.m.
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  • Re: Bill C-31 
Mr. Speaker, I thank my colleague from Red Deer—Lacombe for his speech. He and the speaker before him talked about the importance of cutting spending to fight inflation. If we want to cut spending, then I would suggest that we cut the subsidies being given to oil companies that are making record profits in the current crisis. The Conservatives would never dream of cutting oil subsidies, but they do not want to provide rental assistance. I would simply like to know why oil companies, which are already rich and making profits, deserve help more than someone who cannot afford to pay their rent.
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Context: House Hansard - 101 - Sep/23/22
Mr. Gord Johns (Courtenay—Alberni, NDP)
  • Sep/23/22 12:57:50 p.m.
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  • Re: Bill C-30 
Mr. Speaker, we are really glad to see the Liberals finally get on board with doubling the GST tax credit to help 11 million Canadians, something the NDP has been pushing hard for, but one thing we believe is that we need to go much further. We have seen oil and gas companies with record profits. Banks have record profits. Grocery store chains have record profits. Telecom and wireless companies have record profits. Fees on consumers are going up in all of those sectors. We saw the Conservatives in Great Britain create an excess profit tax of 25% on big oil. We would never see that from the Conservatives here, because they are the lobbyists for the oil and gas companies. Does my colleague believe we need to do more? I see the 1.5% increase on big banks and excess profit, but the Liberals are letting oil and gas off the hook. They are letting the big grocery store chains off the hook. They are letting wireless operators off the hook. Greedflation is taking over. Does my colleague agree that more needs to be done here?
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Context: House Hansard - 101 - Sep/23/22
Hon. John McKay
  • Sep/23/22 12:59:09 p.m.
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  • Re: Bill C-30 
Mr. Speaker, the benefit of being here a long time is that this seems to be a go-to position of my friends on the left. There is an excess profits tax. All of these companies the member is complaining about, if they fall within the band of excess profits, will be taxed directly for that. I take note, as he did, of the excess profits tax for banks and insurance companies. There will be a gathering of revenues. I also take note that lately, primarily because of the low unemployment rate, the government's revenues have been quite robust, again speaking to the point that the government's management of its finances has been quite exemplary.
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