44th Parl. 1st Sess.
June 21, 2023 02:00PM
- Jun/21/23 2:51:59 p.m.
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Mr. Speaker, while energy companies are making record profits right now across the country, Canadians need support, and that is why we are delivering a climate action incentive that delivers more money every three months to Canadians than the price on pollution costs them.
Everyone, except apparently the Conservatives, understands that building in price signals on things we do not want, like pollution, is one of the most efficient ways of reducing emissions and of incentivizing behaviour. That is why our emissions are going down, and we are hitting our targets.
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- Jun/21/23 5:37:32 p.m.
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Madam Speaker, of course, when we talk about what affects the power of Canadians paycheques, it is not just a matter of talking about taxation, because outsized price increases by corporations also affect the power of Canadians' paycheques. We have seen record profits by grocery companies and by oil and gas companies, which are raising their prices far more than the increase in the input costs they have seen. Just today, it was reported that Canada Bread Company pleaded guilty to price fixing with Weston Foods, in a scandal that goes back to even before the pandemic. We know Canadians are very concerned about unjustified price hikes during the pandemic, which some economists have said are responsible for up to 25% of inflation.
Therefore, why does the leader of the Conservative Party never address the question of corporate greed when he talks about inflation?
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- Jun/21/23 5:38:23 p.m.
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Madam Speaker, this is the paradise the NDP created. It is part of a coalition government, during which all of these economic outrages the member described have been able to flourish. There is no question that since the socialist policies of the NDP, with the government, have come into place, they have actually have helped corporate profits, as they always do, contrary to the false narrative. In reality, when big government controls all the money, those with the political influence do the best, and those who pay the bills do the work.
We want to put the money back in the hands of the hard-working people who earned it, not in the hands of the corporate oligarchs or the big government.
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- Jun/21/23 6:36:04 p.m.
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Madam Speaker, I thank my colleague for his speech. I found it very interesting.
While Alberta's oil and gas companies were making record profits, workers were being laid off. This year alone, 14,000 workers in Alberta have been let go.
Does my colleague think that one way to balance the budget would be to stop subsidizing highly profitable companies and to introduce a windfall tax?
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- Jun/21/23 7:36:51 p.m.
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Madam Speaker, in 2022, environmental disasters caused by climate change cost $275 billion. The five biggest oil companies made $220 billion in profits in 2022. Oil companies received $20 billion in funding from the government. I rounded these figures.
As my colleague claims, we know that the government spends unwisely. Does he believe that the $20 billion the government spent on an industry that made $220 billion in profits that year was a bad investment? He seems to be concerned about climate change and the environment, so does he not think that this money could have been better spent on the energy transition?
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- Jun/21/23 7:38:58 p.m.
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Madam Speaker, I have a lot of respect for my colleague. I hope he has a great summer ahead of him.
This motion is misguided. Cutting help to people is not the solution. In fact, we have seen corporate taxes go from 28% to 15% under the Liberals and the Conservatives. What has happened? Real estate trusts, banks, and oil and gas companies are raking in record profits. We also keep seeing increases in bank fees and oil and gas prices.
When are the Conservatives actually going to have the courage to stand up against corporate welfare and make sure corporations pay their far share so that people get the help they need?
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- Jun/21/23 8:55:37 p.m.
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Madam Speaker, the member spoke about a grift. How is this for a grift? Oil and gas companies, last year alone, raised the price of fuel, on their margins alone, by 18¢ a litre. That helped the five biggest oil and gas companies to create profits of over $38 billion. On top of that, the federal government gave them what the member would call a handout of $22 billion more. How is that not the biggest grift in the country? Is the member going to stand up and say that it is time to get rid of that grift?
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