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Decentralized Democracy

House Hansard - 117

44th Parl. 1st Sess.
October 25, 2022 10:00AM
Context: House Hansard - 117 - Oct/25/22
Mr. Terry Beech (Parliamentary Secretary to the Deputy Prime Minister and Minister of Finance, Lib.)
  • Oct/25/22 6:53:53 p.m.
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Madam Speaker, there are a lot of points in that speech that I would like to address, but perhaps I can invite people who are listening today, if they want to get the story on exactly what we are doing with our plan for the economy and the plan for the environment to visit my website at Terrybeech.mp.ca. I draft very fulsome reports, and anybody who is interested can go to those and follow up with me. Our government does understand that Canadians are having trouble making ends meet. However, inflation is a global phenomenon. It is a lingering result of the COVID pandemic, which has been exacerbated by the war in Ukraine and by snarled supply chains that are affecting people and businesses right around the world, not just in Canada. While Canada's inflation rate is less severe at 6.9% than that of many of our peers, like the United States at 8.2% and the United Kingdom, the euro area and the OECD all at above 10%, Canadians continue to experience a higher cost of living when they go to the grocery store, fill up their tanks and pay their rent. This is why we are moving forward with our affordability plan, which includes measures worth $12.1 billion to support the Canadians who need it the most, particularly those with lower incomes and those who are most exposed to inflation. Our plan includes an enhanced Canada workers benefit for low- and modest-income workers, which will put up to $2,400 more into their pockets; cutting regulated child care fees by an average of 50% by the end of this year and to $10 a day by 2025; a 10% increase in old age security for seniors over the age of 75; dental care for Canadians with family incomes under $90,000 per year; a $500 payment, coming this year, to help people who have low incomes, are renting and are struggling with the cost of housing; doubling the GST credit for six months, which was supported by the member opposite and will go to 11 million households and over 50% of seniors; and, of course, our main support programs, including the Canada child benefit, OAS, GIS and others, which are indexed to inflation. That means those benefit will actually increase as the cost of living increases. We are supporting Canadians while controlling our spending. The International Monetary Fund expects Canada to have the lowest federal government deficit as a percentage of GDP in the G7 this year, a track our country is forecasted to maintain for at least the next three years, and the lowest net-debt burden as a share of GDP in the G7. In fact, we have strengthened those advantages over the course of the pandemic. Now, when it comes to pollution pricing, I would like to say that climate action is no longer a theoretical, political debate, it is an economic necessity, and a national price on pollution is the most effective market-based system for reducing greenhouse gas emissions. It is actually designed to work in a capitalistic society. In 2022-23, in the four provinces where the federal system price applies, climate incentive payments mean that life is more affordable for eight out of 10 Canadian families. In addition, families in rural and small communities are eligible to receive an extra 10%. In areas like B.C., my home province, where the price of gas has gone up by more than a dollar a litre over the last three years, the carbon price has gone up by only two cents. This highlights the fact that Conservatives continue to mislead Canadians by ignoring 98% of the real problem when it comes to inflation and high energy prices. The reality is that most households are getting back more than they pay as a result of the federal pollution pricing system. We have a plan to grow the economy while lowering emissions and making life more affordable for Canadians.
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Context: House Hansard - 117 - Oct/25/22
Mr. Terry Beech
  • Oct/25/22 6:58:25 p.m.
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Madam Speaker, our government understands quite well that Canadians are feeling the effects of elevated inflation, which, as I outlined in my previous speech, is a global phenomenon. They can count on our government to continue supporting them through this cost of living crisis while remaining prudent fiscal managers. However, the Conservatives, under their new leader, have presented basically a three-point affordability plan. First, they are suggesting that they would destroy the independence of our institutions that have been built up over generations, institutions like the Bank of Canada. Second, they would stop fighting climate change. Third, they are proposing to raid the pension benefits of our seniors by attacking agreements that we have made on the Canada pension plan. Their plan is not reasonable. It is not responsible and, really, it directly reflects their current leader.
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