44th Parl. 1st Sess.
October 25, 2022 10:00AM
- Oct/25/22 1:10:32 p.m.
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Mr. Speaker, very seldom will I agree with the gentleman on most issues, but when he says Canada is the best country in the world to live in, I am 100% behind that, and I appreciate that.
With that said, in Souris—Moose Mountain, throughout my whole riding, I have not had anyone come and talk to me about the monarchy. I appreciate the member's comments on that. What we have heard about is basically the economy, inflation rates and the big cost to individuals in a rural community.
The member touched a bit on how he is hearing similar things, and I am wondering if he could expand upon that for us today.
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- Oct/25/22 2:33:13 p.m.
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Mr. Speaker, many of our allies are seeing inflation at a rate above 10%. We here in Canada are faring relatively better, but we are still seeing prices rise, which is why we put forward a comprehensive affordability plan.
However, I would like to get back to something the Conservative leader said in the House. He said, “It is true that dumb governments...all have inflation problems.” That statement is dangerous for many reasons.
Canada is a trading nation. We export more than we import. To say that our closest trading partners are led by dumb governments is to risk harm to the economy and to millions upon millions of Canadian jobs.
These are serious times. Serious times deserve—
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- Oct/25/22 2:37:07 p.m.
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Mr. Speaker, being there for Canadians during the pandemic was the right thing to do.
In fact, it is because of our support for Canadians that the economy has rebounded so quickly. We are seeing the results today. In a time of global economic instability, Canada has the best growth rate among our G7 peers, with the lowest deficit among them.
We were fiscally responsible, while being there for each other.
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- Oct/25/22 2:54:00 p.m.
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Mr. Speaker, we will take no lessons from the Conservatives. Canadians who are watching at home remember that the last advice they gave to Canadians was about crypto. We will continue to invest in skills and people. We will continue to invest in our ecosystem. We will continue to invest in our critical minerals. We will continue to build an economy that works for everyone and for all Canadians watching at home.
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- Oct/25/22 3:01:58 p.m.
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Mr. Speaker, let me simply correct the record by saying, as I have said before, that we actually have the lowest deficit among G7 countries. It is hovering around 1%. That is almost zero deficit.
Let me also come back to the importance of the measures we put in place and the importance of supporting Canadians when they needed it most. It ensured not only that Canadians continued to take home a paycheque and continued to be able to pay their rent and their mortgages, but that our economy came roaring back even stronger than it was prior to the pandemic thanks to the smart investments we made and the fiscal responsibility we still maintain today.
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- 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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