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House Hansard - 130

44th Parl. 1st Sess.
November 18, 2022 10:00AM
Context: House Hansard - 130 - Nov/18/22
Mr. Arif Virani
  • Nov/18/22 10:44:02 a.m.
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  • Re: Bill C-32 
Madam Speaker, I will point the member to a few different things. One is the approach that we have taken with labour standards vis-à-vis our conclusion of agreements internationally. CUSMA comes to mind as a fair example. Second, it is not solely about investments that the Canadian government provides. It also about the tax credits we provide to spur innovation and investment. The clean tax credit is now available to entities that are pursuing clean tech and sustainable growth industries. That was revealed in the fall economic statement. I will also point him to the fact that our environmental package of the last seven years includes more than $100 billion in investments. He mentioned the Alberta Federation of Labour. Its response to our share buyback taxation on banks was that it is “Very positive news to hear Finance Minister Freeland confirm earlier reports that Canada will tax stock buybacks”—
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Context: House Hansard - 130 - Nov/18/22
Mr. Greg McLean
  • Nov/18/22 1:00:42 p.m.
  • Watch
  • Re: Bill C-32 
Madam Speaker, that is a very good question. The minister presented the case that Canada's investments from private sector investment is still 10% below the amount it was when her government came into power, and it has consistently been there. It went down to 20% below during COVID, of course it fell worldwide. However, we are still 10% below, where every other country in the G7 and the G20 has rebounded significantly. The government is trying to replace investment money with government money, and it is not working. It needs to take the lesson that no matter how many billions of taxpayer dollars it throws at the wall, it is not going to create an investment opportunity that would bring capital here for anything more than a subsidy. We need to get sustainable jobs back here in Canada that are productive.
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