44th Parl. 1st Sess.
April 18, 2023 10:00AM
- Apr/18/23 10:58:48 a.m.
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Madam Speaker, one of the things we have been pointing out with the budget is that there is a $43-billion deficit and deficit spending continues to drive inflation. I am wondering what my hon. colleague across the way has to say about the deficit and inflation.
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- Apr/18/23 10:59:08 a.m.
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Madam Speaker, I can say that there is no deficit in Canada. Our position is that we are investing in the well-being of Canadians.
Let us take the pandemic as an example. This government helped all Canadians from coast to coast to coast, so it is an investment. If we abandoned Canadians during the hard times, like the pandemic was, half the country could go bankrupt. The Canadian government did not abandon anyone.
That is what we did, and that is what we will continue to do to serve Canadians from coast to coast to coast.
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- Apr/18/23 11:32:39 a.m.
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Madam Speaker, I will let that go by, saying a free market approach would not work. In Vancouver, just the red tape to build a house costs $630,000. It is not the free market that is the problem. It is the government standing in the way of building the houses.
I want to go back to the deficit spending that the government is doing and the inflation that is driving up the cost of anything, more dollars chasing fewer goods. What does the member have to say about the $43-billion deficit and that the government continues to spend after it promised back in 2015 it would only have four modest deficits of $10 billion and then return to a balance? Does the member think the government will ever be capable of meeting a balanced budget?
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- Apr/18/23 11:33:26 a.m.
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Madam Speaker, first, all my colleague needs to do is go out and get a development application in Vancouver and it will not cost $630,000 in red tape. It is again more false information.
When he talks about the deficit, absolutely we have a solution to that. We have been calling for an excess profit tax on oil and gas, grocery store chains and the big banks that are having record profits. They are left untouched by Liberals and always supported by the Conservatives, who are their gatekeepers.
Again, Britain is charging an excess profit tax on oil and gas even though it also has petroleum based companies. We have a huge problem when it comes to the Conservatives and Liberals propping up the super wealthy in our country. They are putting it on the backs of everyday Canadians and not allowing them to get services and important supports like affordable housing. Instead, they support the corporatization of housing.
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- Apr/18/23 1:01:25 p.m.
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Madam Speaker, one thing that I am concerned about is the $43-billion deficit that is projected by the budget this year. Back in 2015, when the Liberals took power, they promised they would run four consecutive deficits of only $10 billion, and after that, they would return to a balanced budget.
Why does the member continue to support deficit spending? Does he think this has an impact on inflation?
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- Apr/18/23 1:02:02 p.m.
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Madam Speaker, let us take the way I personally look at the deficit of $43 billion. For me, as a working Canadian, I do not like credit card loans. However, I do like having a mortgage because it helps me to invest in my long-term future and long-term assets.
The deficit we have is basically going towards long-term investments required for Canada so that we can continue to be competitive in this world, improve our long-term transportation network and invest in long-term things required for clean energy growth. Those are the kinds of long-term infrastructure-related investments that are required, and these things are primarily contributing to the deficit we have today.
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- Apr/18/23 1:16:34 p.m.
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Madam Speaker, I just wanted to note that the member never talked at all about the 40-year highs in inflation nor about the $43-billion deficit that is projected by this particular budget.
I am just wondering if the hon. member has any concerns about the inflation that is happening in Canada and whether deficit spending is what this country needs right at this moment.
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- Apr/18/23 1:16:57 p.m.
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Madam Speaker, we are all concerned about inflation. We are all concerned about affordability. That is why the measures not only in budget 2022 but also in budget 2023 have clearly focused on the most vulnerable who are impacted by the rising costs of food as well as issues with affordability.
As it relates to the so-called deficit, as my colleague from Nepean indicated before, this is an investment that we are making. This is very similar to the decision that any parents make when they make an investment in their home, when they make an investment in children's education, when they make an investment for a better future, not only for themselves but their families. This is indeed exactly what our government has done.
It has made a conscious decision to make an investment in Canadians and that is what we are doing.
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- Apr/18/23 1:32:57 p.m.
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Madam Speaker, I thank my colleague for his passionate speech.
He mentioned the government's deficit. What I have noticed is that the government announces spending, but does not manage to spend what it announces. In 2021‑22, they failed to spend the $38 billion they announced. In 2022‑23, they failed to spend the nearly $40 billion that was announced and we can expect the same amounts in the current budget.
In short, the federal government announces deficits when in reality it is squirrelling away significant sums of money in its coffers. In the meantime, it refuses to increase seniors' pensions, to modernize the Employment Insurance Act and to meet the demands of Quebec and the Canadian provinces on health transfers.
What does my colleague think of the federal government perpetuating the fiscal imbalance to the detriment of Quebec, the Canadian provinces and their populations?
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- Apr/18/23 3:40:40 p.m.
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Madam Speaker, it is with great pleasure that I stand today in the House to speak about the budget tabled by the government on March 28, 2023. Just because the government is bragging about it does not make it an excellent budget, quite the contrary.
In the political arena, the opposition is expected to find flaws in the budget. That is healthy, and it is part of the game. However, upon closer inspection and careful reading of the budget, it becomes apparent that it has some major shortcomings, indeed.
Unfortunately, whoever looks at the broad lines of the budget tabled by the government can see that it is another unbalanced budget. This is really on trend for the government. How can it be that we can still not manage to have a balanced budget? We have not had a balanced budget since 2015.
The government clearly stated last November in its economic statement that it intended to have a balanced budget by 2027-28. What they are announcing now is that there will be a $14-billion deficit in 2027-28. We are therefore nowhere near the forecasted balanced budget that would allow us as a country to compete and have a bit of credibility on this planet.
The budget also includes $43 billion in new spending. I think that, here as well, in this inflationary environment, we are dealing with a government that has the wind in its sails but not much of a rudder. There is $43 billion in additional spending. I do not think that that is what Canadians expected. They were expecting a balanced budget. Unfortunately, that is not what we are talking about today.
As a result, we have an enormous debt, and it is growing at a rapid pace. It is approximately $1.2 trillion. I do not know what everyone else thinks, but I am not even sure how many zeroes that is. The debt is enormous.
What that means for Canadians is that they will have to continue to tighten their belts and pay up. We are right in the middle of income tax season, and I am convinced that there are Canadians out there today who are wondering how they are going to manage.
In my view, and that of my party, this is a downright irresponsible, unfair and visionless budget.
I think we need to consider where this country is today. Need I remind my colleagues that we are going through an inflationary crisis? Inflation is at a 40-year high. I will give members a quick overview, although I could spend a lot of time on the subject. A family of four will spend $1,065 more on groceries in 2023 than in 2022. That is a lot of money. It is more than what the government is promising to give families to lower the bill.
House prices have gone up 21% in the Quebec City region alone. The average mortgage payment has doubled since 2015. I will point out that 2015 is the year the Liberals came to power. The average mortgage payment is now $3,000 a month.
Food bank use has reached record highs, with around 1.5 million people seeking help each month. Some parents are now skipping meals so their children can eat. This is Canada. We never would have imagined we would get to this point.
Also, nine out of 10 Canadians say they do not even dream of owning a house. Becoming a homeowner gives us freedom. Canadians should be able to hope to one day buy a house. Instead, young people are now sleeping in their parents’ basement or, worse yet, moving into shelters because they cannot afford housing.
One in five people are skipping meals and, based on what we unfortunately learned today, some 60% of Canadians are considering not taking a vacation this summer. We also learned in a release today that food inflation was still hurting Canadians in February and that, for a seventh consecutive month, the price of groceries rose by 10% or more over the same period last year. This is where we are today.
Need I also remind my colleagues that we have a government that spends recklessly? This government alone has increased the debt more than all other previous governments combined. That is something. It now costs $44 billion to service the debt. It is counterintuitive and counterproductive to go on this way. We are spending money on interest rather than on services to the public. We should be outraged about that. However, on the other side of the House, the government keeps spending recklessly and has added $43 billion in new spending in this year’s budget.
Another factor we must consider is the collaboration, or coalition, between the Liberal government and the NDP. To remain in power and ensure its stability until 2025, the Liberal Party has agreed to implement the NDP's agenda with great speed and at great cost. I would like to remind the House that Canadians did not vote for that. Only 17% of Canadians voted for the NDP. That is certainly not enough to justify endorsing and implementing the NDP's agenda.
One key item on the NDP's agenda is dental care. Dental care was announced only a few months ago, but already its cost has more than doubled. I think that Canadians are entitled to ask questions and to feel outraged, especially since even the Parliamentary Budget Officer, a credible and independent man who plays an important role on Parliament Hill, has questions about this program. First, he said that it is incredibly expensive. Then he said that people only have to say they have an appointment with the dentist to receive a reimbursement.
That is a slippery slope. People will want to be reimbursed even before they get to their appointment and before getting the bill, especially since, as we know, many Canadians already have provincial or private dental insurance. This measure is costing almost $13 billion when it should cost only $5 billion, and Canadians are footing the bill.
Since my time is almost up, I will wrap up by saying that, on this side of the House, we are hoping for a much more responsible government, a government that, like Canadians and parents, knows how to count. These people know that when they spend five dollars, it is five dollars well spent. If someone earns $10, they should not spend $12.
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- Apr/18/23 3:51:39 p.m.
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Madam Speaker, I would like to thank my colleague for her question. I will answer with another question that she could ask the Minister of Finance, who announced in November's economic statement that we would return to a balanced budget in 2027-28. Now we have learned that that will not be the case. Rather, there will be a $14‑billion deficit, and there is nothing in any of the budget documentation about a return to a balanced budget.
I think that that is the real question today, the only one that matters to Canadians.
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- Apr/18/23 4:23:24 p.m.
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Madam Speaker, we have 40-year highs in inflation and more people visiting the food bank now than at any other time in Canadian history, yet the member opposite paints a rosy picture of Canada. There is a $43-billion deficit this year in the budget as well.
Inflation is out of control, yet the government continues to pour more fuel on that fire. Does the hon. member know when, if ever, the budget will be balanced?
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- Apr/18/23 4:36:26 p.m.
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Madam Speaker, I would just note that we are living in times of 40-year-high inflation with more Canadians visiting food banks than at any time in Canadian history, and yet the Government of Canada continues to tout that life has never been better in Canada. There is a $43-billion deficit in this budget and yet back in 2015 the Liberals said they would balance the budget in 2019. I just wonder if the hon. member has any comments about the $43-billion deficit and how this is contributing to inflation.
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- Apr/18/23 4:54:07 p.m.
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Madam Speaker, I just want to ask my hon. colleague what his thoughts are on the fact that the Liberal government is continuing to deficit-spend, even though it promised, way back in 2015, that it would run only four modest deficits of $10 billion, which it has never even come close to. Budget 2023 is $43 billion.
I am wondering what my colleague has to say about that.
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