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Decentralized Democracy

House Hansard - 129

44th Parl. 1st Sess.
November 17, 2022 10:00AM
Context: House Hansard - 129 - Nov/17/22
Ms. Lori Idlout (Nunavut, NDP)
  • Nov/17/22 11:09:05 a.m.
  • Watch
  • Re: Bill C-32 
Uqaqtittiji, there are 16 Northern stores in northern Quebec. Northern showed profits of $13.2 million, and it is subsidized by the nutrition north program. I wonder if the member agrees that the Canada recovery dividend proposed in this bill needs to be extended to the profits of grocery stores, which are in the millions of dollars.
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Context: House Hansard - 129 - Nov/17/22
Mr. Daniel Blaikie (Elmwood—Transcona, NDP)
  • Nov/17/22 11:40:27 a.m.
  • Watch
  • Re: Bill C-32 
Mr. Speaker, I want to continue on that theme of housing. If we listened to the Conservative leader, we would know that as long as there is this much capital in the market for bidding on new homes and new units of various kinds, we will have to build a lot of units to ever see the price of housing come down. One thing in Bill C-32 is a pandemic dividend, or the Canada recovery dividend. It is really about going to the very same financial institutions that the Conservative leader has rightly complained about, which got a lot of liquidity support during the pandemic, and taking some of that money back into government coffers for it to be put out on things like the doubling of the GST rebate, the dental benefit and the Canada housing benefit. I found it odd not to hear any support from the Conservative leader for the pandemic dividend, because it seems to me that it is very clearly an issue of justice, as we are talking about who should bear the cost of the moment we are in, in light of what has gone on in the pandemic. It also seems to be a pretty important tool for trying to right one of the structural problems in the housing market right now. I wonder if the member might offer his thoughts on the pandemic recovery dividend.
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Context: House Hansard - 129 - Nov/17/22
Mr. Daniel Blaikie
  • Nov/17/22 12:05:27 p.m.
  • Watch
  • Re: Bill C-32 
Madam Speaker, the way it works in the pandemic dividend in the legislation the government has crafted is that it establishes a baseline profit in advance of the pandemic. Then it looks at the pandemic window and how much more profit was made during the pandemic compared to baseline. That is how it comes up with a threshold. It then applies a tax for profits over that threshold. There is a reasonable method already in place that could be applied to other industries. It would capture industry sensitive differences with respect to the level of profit. We do not like the words “cookie cutter”, but the way this works could be applied to other industries. The level of sensitivity that would be needed and expected is already in the mechanism.
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Context: House Hansard - 129 - Nov/17/22
Ms. Lori Idlout (Nunavut, NDP)
  • Nov/17/22 12:56:10 p.m.
  • Watch
  • Re: Bill C-32 
Uqaqtittiji, as I have mentioned before, food bank usage is up and grocery store profits are up. It is good to see that in the bill the Liberals have created the Canada recovery dividend, but it will not do enough. I wonder if the member can explain why the government has not extended the Canada recovery dividend to big box stores that are clearly contributing to the hardship that people are facing?
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