44th Parl. 1st Sess.
November 4, 2022 10:00AM
- Nov/4/22 11:22:02 a.m.
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Madam Speaker, global inflation is impacting the world's economy, but Canada's strong fiscal position is helping us make sure that life is more affordable and we are growing an economy that works for everyone. Today, 11 million Canadian households will be receiving hundreds of dollars in their bank accounts because of the doubling of the GST benefit. That is happening today. That includes over 50% of seniors, and students are going to save thousands of dollars because we are permanently eliminating interest on student loans. At the same time, Canada's workers are going to benefit from the investments we are making in clean technology, which is already creating sustainable, clean jobs for everyone.
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- Nov/4/22 11:23:22 a.m.
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Madam Speaker, the fall economic statement shows that we are continuing to chart a fiscally responsible course. Canada has the lowest net debt and the lowest deficit-to-GDP ratios in the G7. Since the previous budget, we have decreased our deficit by $16 billion, and there are 500,000 more Canadians working today than before the pandemic, making Canada's economic growth the strongest in the G7. Investing in Canada, investing in Canadian workers, is exactly the right decision, and that is what we are doing.
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- Nov/4/22 11:24:32 a.m.
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Madam Speaker, I am happy to talk about the fall economic statement, because it puts forward a plan that grows our fiscal advantage by continuing to reduce our debt-to-GDP ratio, creating new and sustainable jobs through the Canada growth fund, reducing credit card transaction fees for small businesses, accelerating Canada clean's transition, commercializing Canada's world-class research and development, investing in youth employment and cutting taxes for small businesses. We are making life more affordable. We are growing an economy that works for everyone.
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- Nov/4/22 11:31:49 a.m.
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Madam Speaker, global inflation is affecting all of the world economies, but Canada's strong fiscal position is helping us make life more affordable. Today, 11 million households will be receiving money in their bank accounts thanks to the doubling of the GST benefit.
We are continuing to make sure that everyone continues to pay their fair share. We are doing this by implementing the Canada recovery dividend, by taxing share buybacks in public companies and by strengthening anti-tax avoidance measures. It is the right thing to do, and we are going to keep doing it.
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- Nov/4/22 11:32:47 a.m.
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Madam Speaker, Canadian workers need and deserve a robust industrial policy that will deliver good, sustainable and clean jobs. The Canada growth fund will help deliver billions of dollars of new investment required to reduce our emissions, grow our economy and create high-paying jobs.
We are replacing inefficient fossil fuel subsidies with major investment credits for clean technologies and clean hydrogen. We are creating a sustainable jobs training centre to help Canada's unions ensure that our workforce is ready to prosper in our growing, clean economy.
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- Nov/4/22 11:36:22 a.m.
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Madam Speaker, we know global inflation is affecting everyone, although Canada is in a pretty good position to be able to help those who are most affected. In fact, inflation in Canada is at 6.9%, while it is higher than 10% in most of Europe and higher than 8% in the United States.
We put forward a plan that is fiscally responsible. It helps invest in making life more affordable. The Conservatives' affordable plan is very straightforward. They want to stop fighting climate change, and they want to tap into the pensions of seniors, right when they need it the most. It is not a responsible plan.
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- Nov/4/22 11:41:56 a.m.
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Madam Speaker, the fall economic statement puts forward a plan that leverages our strong fiscal position while lowering our deficit by $16 billion. It also modernizes Canada's research facilities, strengthens Canada's anti-avoidance tax measures and makes life and housing more affordable, while eliminating inefficient fossil fuel subsidies.
Instead, we are investing in clean, sustainable jobs of the future that Canadian workers are going to help us all make happen. This is what it means to have a strong environment and a strong economy working hand in hand, and that is exactly what we are doing.
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- Nov/4/22 11:42:58 a.m.
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Madam Speaker, our government has focused, for the last seven years, on reducing poverty. Because of that, millions of Canadians have been lifted out of poverty. That includes children and that includes seniors.
In fact, our legislative agenda this session is focused on compassion. It is making sure that kids under the age of 12 can get the dental care they need. It is making sure 11 million Canadian households get hundreds of dollars to help deal with the cost of living because although inflation is a global phenomenon, Canada is in a good position to deal with it, so we are going to be there to help people, instead of ignoring them, like the Conservatives.
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- Nov/4/22 11:58:01 a.m.
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Madam Speaker, we have said this plenty of times, but I think it bears repeating: The carbon price, the price on pollution, makes life more affordable for eight out of 10 families. If we followed the advice of the Conservatives, eight out of 10 Canadian families would actually be worse off. At the same time, that is not even dealing with the long-term cost of dealing with fires, floods and hurricanes.
We are making investments today that are responsible, not just to make life more affordable but to make sure we are protecting the future for our kids.
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- Nov/4/22 11:59:13 a.m.
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Madam Speaker, I just finished describing how our plan to price pollution actually makes life more affordable for eight out of 10 Canadian families, but that is not all it does. It protects our future by making sure that we are continuing to fight climate change.
We are taking affordability seriously. We know that global inflation is affecting Canadians, but we are in a great position to deal with it. We have the lowest debt-to-GDP ratio in the G7 and have continued to reduce it. That is why we are investing in Canadians, with real money going into their bank accounts today in 11 million households.
I wish the Conservatives supported kids to get dental care and supported vulnerable renters, but their actions speak louder than their words.
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- Nov/4/22 12:03:07 p.m.
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Madam Speaker, this government is focused on making life more affordable for low-income renters, for Canadians under the age of 12 who need to go to the dentist and for 11 million Canadian households that are getting GST benefits in their bank accounts today.
Our country's strong fiscal position allows us to do more. We are permanently eliminating interest on Canada student loans. We are creating a new quarterly Canada workers benefit and a new Canada growth fund that will help us reduce emissions, create sustainable jobs and attract private investment. In fact, the new labour survey was out today and there were 108,000 new jobs in Canada last month.
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- Nov/4/22 12:05:17 p.m.
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Madam Speaker, if we cancel the price on pollution, it would make life less affordable for eight out of 10 Canadian families. Our fiscal update has focused on making life affordable for Canadian families, as has our parliamentary agenda for this entire session.
We hope that the Conservatives will come onside and look for solutions instead of just suggesting that we cut into seniors' pensions and that fighting climate change is not worth doing. Both of those things are wrong and it is not responsible policy.
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