SoVote

Context: House Hansard - 129 - Nov/17/22

Nov/17/22 10:50:47 a.m.
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Re: Bill C-32

Mr. Speaker, I have spoken to a number of people who are well versed in economics, more so than myself, and I can assure members that the measures we have put in place are very measured. They would allow Canadians to have support without contributing to inflation. I am very confident, as is the Minister of Finance, that this fall economic statement is prudent and is one that reflects the current needs as well as the current realities of inflation.

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Context: House Hansard - 129 - Nov/17/22

Mr. Mark Gerretsen (Parliamentary Secretary to the Leader of the Government in the House of Commons (Senate), Lib.)

Nov/17/22 11:10:22 a.m.
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Re: Bill C-32

Mr. Speaker, it is an honour to rise to speak to Bill C-32, the fall economic statement implementation act. At the outset, one of the things I find extremely confusing, and I heard the Bloc say it this morning, is that the government has not tried to help Canadians during such a difficult time to deal with inflation, the inflation we are seeing not just in Canada but indeed throughout the world. I will speak to that, but before I do, I want to read a quote. It says, “government is ruining the Canadian dollar, so Canadians should have the freedom to use other money, such as Bitcoin.” Are there any guesses where that quote came from? An hon. member: Is it Donald Trump? Mr. Mark Gerretsen: Mr. Speaker, no, it was not Donald Trump, but his protege in Canada. That would be the member for Carleton, the official Leader of the Opposition. He actually said those words. He said Canadians do not have faith in the Canadian dollar, so they should be able to use other forms of money. From his position of leadership, he was encouraging people to not trust the Canadian dollar, but to instead trust cryptocurrency, such as Bitcoin. I do not have to tell anyone what has happened to Bitcoin, not just over the last several months but indeed what we have seen in the last week. Not only have we seen the collapse of cryptocurrencies, but now there is the new revelation of FTX and the games it was up to in order to create liquidity within its business, the experiences of bank runs that occurred as a result of that, and the collapse of their coin, seeing as much as $1 billion to $2 billion go missing. We are seeing what happens when there is no government control or government-backed currencies. That is exactly what we are seeing with the collapse of cryptocurrency and the revelations that are coming about as a result of the businesses that were heavily involved in cryptocurrency and investing in it. This is where we are today. The member for Carleton has his famous video of when he bought that shawarma and paid for it with cryptocurrency. Let us assume he bought that Bitcoin in order to make that purchase. Who knows what he bought that Bitcoin for. Did he buy $10 worth of Bitcoin to make that purchase? What would that have cost him today? How much more Bitcoin would it have cost him to buy that shawarma today? It probably would have been about four or five times as much Bitcoin. If we want to talk about inflation, the shawarma that he bought so famously and proudly using non-government-backed currency would cost him about four or five times as much today.

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Context: House Hansard - 129 - Nov/17/22

Mr. Yves Perron

Nov/17/22 11:17:16 a.m.
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Re: Bill C-32

Mr. Speaker, I will not often defend the leader of the Conservatives, but let us be serious about our work. We must work on the measures that the government presented so we can help people face inflation, but the member has spent about eight minutes talking about cryptocurrencies. People are watching us on television. Can we get to work?

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Context: House Hansard - 129 - Nov/17/22

Mr. George Chahal

Nov/17/22 11:50:29 a.m.
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Re: Bill C-32

Mr. Speaker, the residents of Calgary Skyview have been working tremendously hard and have been feeling the impacts of inflation. They worked on the front lines during the pandemic. We were accused of spreading the pandemic, yet we have the highest rates of vaccinations in the province of Alberta. They are the folks who drive our buses, clean the snow off our streets, work in the nursing homes or work in the airport that many of my colleagues in southern Alberta use to get here. They are the frontline heroes from my community who are helping to keep our city functioning and our economy moving forward.

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Context: House Hansard - 129 - Nov/17/22

Mr. Mark Gerretsen (Parliamentary Secretary to the Leader of the Government in the House of Commons (Senate), Lib.)

Nov/17/22 12:04:43 p.m.
Watch
Re: Bill C-32

Madam Speaker, I would agree with the member in his assessment of the unfortunate reality of corporations using the opportunity of inflation to further expedite the problem by adding more inflation and trying to profit off of it. It is one thing to do this by putting a special tax on it, but how do we do that? He talked about profits of over a billion dollars. How does he see that being implemented practically and the results of that, and how that will be received?

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Context: House Hansard - 129 - Nov/17/22

Mr. Gabriel Ste-Marie (Joliette, BQ)

Nov/17/22 12:37:30 p.m.
Watch
Re: Bill C-32

Madam Speaker, I thank my colleague for his speech. In the government's fall economic statement, the word “inflation” appears 108 times. However, when we look at the measures announced in the economic statement, we see that it is essentially implementing the measures that were in the last budget. Apart from rhetoric, the government is not contributing to the response to current inflation and the risk of recession. We at the Bloc Québécois had asked the government to refocus on its core missions to better support the most vulnerable, namely by increasing old age security from age 65 on, increasing health care funding and reforming EI. This government seems to identify the current economic crises, but does not appear to propose any new measures. What does my colleague think of that?

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Context: House Hansard - 129 - Nov/17/22

Mr. John Barlow

Nov/17/22 12:38:27 p.m.
Watch
Re: Bill C-32

Madam Speaker, I would agree. I do not believe the fall economic statement added any new measures to try to curb inflation and end higher interest rates. In fact, I think the fall economic statement is doing everything it possibly can to accelerate inflation and raise interest rates by continuing inflationary spending, by continuing to go further and further in debt, and by tripling the carbon tax. It is unfortunate that the Liberal government did not listen to the opposition parties, which put forward very concrete and realistic potential solutions to try to curb inflation with no new taxes and no new spending. As I said, the solution for any Canadian business or any Canadian family, when faced with a financial crisis, would not be to rack up the credit card. Their solution would be to get their budget in order.

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Context: House Hansard - 129 - Nov/17/22

Mr. Kevin Lamoureux (Parliamentary Secretary to the Leader of the Government in the House of Commons, Lib.)

Nov/17/22 1:28:11 p.m.
Watch
Re: Bill C-32

Madam Speaker, my understanding is that the Bloc will be voting in favour of the legislation, and for good reason. There are many initiatives within this legislation and the fall economic statement that would help literally hundreds of thousands of Canadians, going into the millions. One of the things I take great pride in is that we are getting rid of the interest on student loans. Students would not have to pay interest, and I see that as a very strong, positive way in which the national government would ultimately be enabling more students to be fully engaged in post-secondary activities. It would give them more money in the long run. I wonder if the member could provide his thoughts on how important it is that we support our students, especially given the fact that we are going through inflation.

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Context: House Hansard - 129 - Nov/17/22

Mr. Yves Perron (Berthier—Maskinongé, BQ)

Nov/17/22 1:43:14 p.m.
Watch
Re: Bill C-32

Madam Speaker, I thank my colleague for his speech. He talked about ways to fight inflation. A basic and very important way would be to significantly boost residential housing starts, which would reduce pressure on the housing market, and on social housing in particular. Social housing would remove low-income people from the current market and would reduce that pressure. I would like my colleague to expand on that and on the Parti Québécois's proposal to allocate 1% of the annual budget to social housing going forward.

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Context: House Hansard - 129 - Nov/17/22

Mr. Jasraj Singh Hallan (Calgary Forest Lawn, CPC)

Nov/17/22 2:33:18 p.m.
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Mr. Speaker, this government's refusal to address inflation shows how out of touch it really is. As families struggle to pay for gas, food and home heating, they are also being hit with higher mortgage costs. The Bank of Canada raised interest rates to fight Liberal inflation, and now mortgage interest costs are up 11.4%. This is the largest increase in 30 years. Canadians are out of money and this government just does not care. Will the Liberals end their inflationary spending and cancel their plans to triple taxes on groceries, home heating and gas?

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Context: House Hansard - 129 - Nov/17/22

Hon. Chrystia Freeland (Deputy Prime Minister and Minister of Finance, Lib.)

Nov/17/22 2:33:50 p.m.
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Mr. Speaker, inflation in Canada has now fallen or remained flat for four months in a row. That is good news for Canadians. Now, we also know that many Canadians are facing real challenges, and that is why we put forward a compassionate and fiscally responsible plan. That is why we are doubling the GST credit. That is why we are providing $500 to Canadians struggling to pay their rent. That is why we are providing dental care for kids under 12.

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Context: House Hansard - 129 - Nov/17/22

Mr. Jasraj Singh Hallan (Calgary Forest Lawn, CPC)

Nov/17/22 2:34:24 p.m.
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Mr. Speaker, the minister's Mickey Mouse advice to cancel Disney+ subscriptions to magically save Canadians this winter from freezing will not help anybody. While the out-of-touch finance minister sits in her ivory tower in downtown Toronto lecturing Canadians, more and more people are hit with Liberal inflation and rising taxes. Food inflation is up 11%; gas is up 17.8%, and home heating will double. When will she show some compassion, end the inflationary spending and cancel her plans to triple the carbon tax?

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Context: House Hansard - 129 - Nov/17/22

Hon. Tim Uppal (Edmonton Mill Woods, CPC)

Nov/17/22 2:52:43 p.m.
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Mr. Speaker, whether delivering gravel, groceries or lumber, our Canadian truckers are an essential part of our supply chain and Canadian economy. However, because of the Liberals' inflation crisis, the cost of operating those trucks has skyrocketed to the point where some companies are having to park their trucks. They are actually losing money by working. What is the Liberal solution to this supply chain crisis? They are going to triple the carbon tax. How does that even make sense?

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Context: House Hansard - 129 - Nov/17/22

Hon. Tim Uppal (Edmonton Mill Woods, CPC)

Nov/17/22 2:53:54 p.m.
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Mr. Speaker, there is something seriously wrong in our country when working more actually makes people lose money. To fight inflation, we need to reduce the cost of transporting goods. However, when the Liberals triple the carbon tax, that will make everything more expensive to deliver, which will make goods more expensive. I am going to ask this again. When will the Liberals stop their tax hikes and stop beating up on our truckers?

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Context: House Hansard - 129 - Nov/17/22

Mr. Blaine Calkins (Red Deer—Lacombe, CPC)

Nov/17/22 3:08:12 p.m.
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Mr. Speaker, Kay is 71 years old. She lives in a seniors' lodge, and the lodge just raised her rent because of inflation. Her OAS and GIS are now $100 short of what her monthly rent is. She has moved up several flights of stairs just to save $300 a month, but that deal is going to end soon. She volunteers at the lodge because she gets, as a reward, a glass of cranberry juice, which she needs for nourishment. She orders meals on wheels every second day for $6 because that is all she can afford. When will the Liberals end their inflationary spending and cancel their cruel tax increases so Kay can once again afford to live in the country she helped build?

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Context: House Hansard - 129 - Nov/17/22

Mrs. Dominique Vien (Bellechasse—Les Etchemins—Lévis, CPC)

Nov/17/22 3:09:34 p.m.
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Mr. Speaker, Liberal inflation hurts. We learned that the proportion of Quebeckers experiencing food insecurity has doubled. It is currently 15%. These are people who have jobs but are worried about not being able to afford groceries at the end of the week, people who are skipping meals and using food banks. That is happening here in Canada, a G7 country. All of my Conservative colleagues have been asking the same question for a long time. Will the Liberal government cancel its plan to raise taxes? It is a simple question.

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Context: House Hansard - 129 - Nov/17/22

Hon. Mark Holland

Nov/17/22 3:16:50 p.m.
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Mr. Speaker, I can assure the member opposite that we will absolutely not cease in taking action on climate change. It is an existential crisis. The reality is that it will not be in the billions of dollars, but in the trillions of dollars. I see the number 58. Add about seven zeroes after that. That is how much it is going to cost this planet. The fact that the Conservatives ran on a price on pollution and now want to make it free is something they have to explain to their constituents. With respect to the question on inflation, notwithstanding the fact that we have a lower inflation rate than the EU, than the combination of the G7 countries, notwithstanding the fact that it is less than Germany, the U.S. and the U.K., and that we have one of the lowest inflation rates in the world, it is cold comfort to Canadians who are trying to get through these globally difficult times. Inflation, which is a challenge that is affecting the cost of living and people being able to afford basic necessities in every corner of the planet, is existential. However, there is something the opposition House leader can do, and it is good news. We have a series of measures that we have introduced to help Canadians with affordability. I am confused as to why the Conservatives have voted against dental for families, against supports for low-income housing and many other measures that we have put forward to try to make life more affordable for Canadians. If they are interested—

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Context: House Hansard - 129 - Nov/17/22

Hon. Pierre Poilievre

Nov/17/22 3:48:34 p.m.
Watch
Re: Bill C-32

Mr. Speaker, people should have the freedom to invest in whatever they want, as in the quote, as long as they follow the law and pay their taxes, just like everyone else. What is illegal in fiat currency should be illegal using digital or cryptographic or blockchain assets as well. If it is illegal to evade taxes using fiat currency, it should be illegal to evade taxes using any other type of asset. The rule should be simple, consistent and clear. However, one thing is also clear. Only the Canadian dollar will be legal tender in this country, regardless. I believe there is only one legal tender, and it is the Canadian dollar. The government has been ruining the purchasing power of that dollar by printing half a trillion dollars of it. It went from $1.8 trillion to $2.3 trillion in M2 money supply. That gave us the worst inflation in 40 years. It was entirely predictable. I predicted it: I warned the Liberals, and I wish they had listened.

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Context: House Hansard - 129 - Nov/17/22

Mr. Matthew Green (Hamilton Centre, NDP)

Nov/17/22 3:51:51 p.m.
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Re: Bill C-32

Madam Speaker, week after week we hear the leader of the official opposition stand in this House and outline point by point the economic violence of capitalist corporate greed, yet he never has the courage to name the real cause of high inflation, which is the Conservatives' endless appetite for obscene corporate profits while everyday Canadians struggle to put food on their tables. Does the leader of the official opposition not have the guts to take on the corporate greed of Bay Street, or is he simply happy to continue to serve them?

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Context: House Hansard - 129 - Nov/17/22

Hon. Pierre Poilievre

Nov/17/22 3:52:23 p.m.
Watch
Re: Bill C-32

Madam Speaker, I suspect corporations were just as greedy seven years ago as they are today, so why is it that inflation is three times as high? The reality is that we have a government that has facilitated the so-called “greedflation” we have. When governments print money and pump it into the financial system, those who first touch that money are the ones who profit from it. That is why, when we see these massive money-printing deficits anywhere in the world that it has been tried, it has not only caused inflation but caused a massive increase in the wealth gap. The richest people, who have stuff, benefit when that stuff goes up in price. The poorest people, who need stuff, suffer because they have less purchasing power with which to buy it. It is the money printers and the big government state capitalism of the Liberal government that are allowing this outrage and injustice to occur, and it is the member, by being part of this costly coalition, who is serving that government greed and corporate greed.

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