44th Parl. 1st Sess.
November 16, 2022 02:00PM
Madam Speaker, we are against it because these are inflationary measures. Even Mark Carney said that Canada's inflation is domestically generated.
As long as we are comparing ourselves to other countries, why not compare ourselves to countries such as Switzerland that do not have inflation?
Should the government copy countries that are not handling things well, that are taking insignificant measures and creating problems? The answer is no. We should do what needs to be done for Canada here in Canada.
If we cannot stop inflationary measures, we will end up in a vicious cycle, with Canadians getting poorer and poorer.
102 words
All Topics
- Hear!
- Rabble!
- add
- star_border
- share
Madam Speaker, I am wondering what my hon. colleague's views are on the impact of corporate price raising in this country. Does he believe that it is playing any role in the current inflation? Would he agree with the NDP that at a time of windfall corporate profits, it is time to bring in a windfall corporate profits tax?
60 words
- Hear!
- Rabble!
- add
- star_border
- share
Madam Speaker, many economists, including Jim Stanford, have noted that the economic policy that is being used to combat inflation has historically led to a recession. Many economists are actually predicting a recession next year, and it is estimated that as many as 850,000 Canadian workers are at risk of losing their jobs as a result of that policy of quantitative tightening.
What does my hon. colleague say to Canadian workers? What is her view of the Bank of Canada's policy of raising interest rates in an attempt to suppress wages, which will ultimately lead to a recession and many workers losing their jobs? Does she agree with that?
111 words
All Topics
- Hear!
- Rabble!
- add
- star_border
- share
- Nov/16/22 7:07:29 p.m.
- Watch
Madam Speaker, in my question on September 28, I pointed out to the government that in Restaurants Canada's annual report, over the last 12 months 43% more restaurants had closed than opened. Additionally, the Business Development Bank of Canada and Innovation, Science and Economic Development Canada report that our nation’s small and medium-sized enterprises, or SMEs, are responsible for 10 million jobs in our country.
Like all SMEs, restaurants help to employ 88.3% of Canada’s private labour force. However, all is far from well. In August 2022, for the first time in history, there were over 180,000 client visits in one month to the Daily Bread Food Bank in Toronto.
In prepandemic times, just to put it in context, it would have had 60,000 client visits. If we fast-forward to January 2022, with the increases in inflation, there were 120,000 visits and, as mentioned earlier, in the most recent reported figure in August, that number has tripled, from 60,000 prepandemic to 180,000 client visits in one month.
There is serious hardship here. Many Canadians face a really harsh winter. This reality is not some partisan thing; it is a very serious situation. It is one thing for a senior minister to suggest that it is not going to be an easy time for Canadians, that it is not going to be an easy time for Canada and that we have to make do with today’s realities.
Does the government have any other viable plan, and if so, what is it?
265 words
- Hear!
- Rabble!
- add
- star_border
- share
- Nov/16/22 7:09:23 p.m.
- Watch
Madam Speaker, let me outline some of the measures that we are taking to address supports for restaurants and the tourism industry and in terms of addressing the inflation that is affecting all Canadians, including people outside Canada. It is, indeed, a global phenomenon.
We know that Canadians and Canadian businesses, along with those in countries around the world, are dealing with inflationary pressures and increasing interest rates. Things like high oil prices and global supply chain disruptions are leading to a scarcity of goods and to rising prices. Those are a serious concern for the member who raised this question, and they are a serious concern for the government.
We also understand the important role that restaurants play in communities from coast to coast to coast. In fact, we were there to support them through the pandemic and provided direct support to the hospitality and tourism industry. During the past two and a half years, our government introduced financial support for employees' wages, subsidies for rent, and loans to provide liquidity relief to ensure businesses' survival through the recovery period.
We took those actions because small businesses are indeed the heart of Canadian communities and the engine of Canada's economy. This was highlighted by the member for Spadina—Fort York. Small businesses contribute 55% of Canada's GDP and employ 10.8 million Canadians across the country. That is an astounding number, and that is why they deserve our support.
What budget 2022 outlined was a range of incentives to help small businesses remain strong through the economic uncertainty that was highlighted by the member who raised this question. We have cut the small business tax rate from 11% to 9%, which is essential to support businesses coming out of the pandemic. We are working to deliver lower credit card fees to reduce this burden on small businesses. We have stated quite clearly in the fall economic statement that if a negotiated solution is not reached, we will table legislation to regulate that sector and regulate those fees. We have also enhanced the small business financing program by increasing annual financing to small businesses by an estimated annual $560 million, helping businesses and their owners access liquidity for start-up costs and intangible assets.
Tourism is very vibrant in the riding of Spadina—Fort York. I know this quite well as the member for the riding just adjacent to Spadina—Fort York. We know that virtually all tourism businesses are small businesses themselves, and those tourism businesses employ two million people across this country. Hospitality and tourism is an inclusive industry that provides jobs and opportunities to newcomers, women, youth and indigenous people. These are specific groups that have experienced some of the worst impacts of the global pandemic.
We have been supporting these businesses in their efforts to strive for even greater inclusivity, with things like the women entrepreneurship program, the Black entrepreneurship program, and targeted supports for indigenous businesses. Returning to budget 2022, we outlined a proposal for $20 million over two years to support a new indigenous tourism fund to help indigenous tourism recover from the pandemic and position itself for long-term sustainable growth.
We also announced a commitment to develop a new federal tourism growth strategy focused on recovery and civility and growth in the long term. To further spur the recovery, jobs and growth of small businesses, we have launched the Canada digital adoption program. CDAP is a $4-billion program that will help restaurants grow their online presence and boost online ordering. These are targeted supports to help the small businesses that the member for Spadina—Fort York is outlining.
613 words
- Hear!
- Rabble!
- add
- star_border
- share
