44th Parl. 1st Sess.
October 17, 2023 10:00AM
- Oct/17/23 4:38:22 p.m.
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Mr. Speaker, it gives me great pleasure to rise in the House on behalf of the people of Sackville—Preston—Chezzetcook to speak to the opposition motion. I would like to point out that my voice is not very strong today, so it is going to be much quieter.
The Conservatives, in their motion, are making reference to the fall economic statement. Of course, they know that every November the fall economic statement comes forward. Our government will move forward with much of the legislation, but I am very happy that, as a result of the opposition motion, we will hear all of the good things they have to suggest. We will see if any of them work, and then we can fine-tune them if there is something valuable for us to use to support Canadians.
However, let us talk about the framework of our Canadian economy today. Members must keep in mind that the economy just a year ago was at 8.1% inflation. Today, as we speak, it is down to 3.8%. Already we have seen a quick drop in inflation. Now it is about keeping it going downward.
Canada's economy is strong. We have the lowest deficit in the G7 and the lowest debt-to-GDP ratio in the G7 as well. Last week, it was once again confirmed that we have maintained a AAA rating, which is extremely important. That shows our strength to the world as well. Both the OECD and the International Monetary Fund have clearly indicated that Canada will have the strongest economy in the G7 in 2024.
As we are trying to cool the economy, it is obvious that the economy is extremely strong. Over the month of September, over 64,000 jobs were created. The unemployment rate is down to 5.5%, which is exceptional for our country. The lowest was 5.2% a couple of years ago, before the pandemic. We have not only recaptured the million jobs Canadians created prior to the pandemic, but also created another million since the pandemic. Those are impressive numbers.
That is why we are able to support the most vulnerable Canadians. That is why we are able to support and invest even more in the public health care system. We know the Conservatives believe in the private sector in that section. As well, we have invested in the future prosperity of the country. It is a two-way street. It is a balance between supporting and investing in Canadians long term and investing in capturing more revenue.
Affordability is an issue. There is no question about that. There is no denying that. My kids, going to the grocery store, send me a text or a picture, saying, “Look at the price of this.” We could use the example, as has been used in the House, of the price of lettuce. We understand that.
That is why our government has come forward with many initiatives, and more initiatives are being spoken about and brought in through bills as we speak. The child care benefit brings $5 million a month to families in Sackville—Preston—Chezzetcook, which is $60 million a year. The same thing is happening in the riding of my colleague who is speaking across the floor. In his riding, young families are benefiting from the $60 million in support from the child care benefit.
The early learning initiative, which we brought in last year, was a big investment. Early learning is in 50% of the provinces, bringing the cost down to $10 a day. The rest will follow in the next two years. That is not only a very important investment for young families, but it also allows for more women in the workforce, as well as more flexibility for families.
We have doubled the GST payment for two quarterly payments, helping 11 million Canadians. There was a one-time grocery payment that helped 11 million Canadians. We brought forward the dental plan, and so far we have seen 350,000 children benefit from it. By 2025, we will have more.
Mr. Speaker, I thought I had already mentioned this, but I will be sharing my time with the member for Aurora—Oak Ridges—Richmond Hill.
I want to finish with another big, important framework bill that we brought forward for people with disabilities—
Some hon. members: Oh, oh!
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- Oct/17/23 4:44:02 p.m.
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Mr. Speaker, another initiative that we are bringing forward, as we speak, is the investment in housing and removing the GST on new rental construction. That is essential. We already have five provinces, including Nova Scotia, that have joined this initiative.
It will drop the cost of a building for affordable housing, for example, from $10 million down to $8.5 million. That is $1.5 million in savings. That is why these contractors and developers are jumping to get these projects going so they can benefit from those investments. I want to share some quotes.
Tim Richter, CEO of the Canadian Alliance to End Homelessness, said that the federal government is being very serious about taking measures to ensure it is answering the housing crisis.
Carole Saab from the Federation of Canadian Municipalities said, “This is an important and very welcome decision that will have an immediate impact.”
The executive director of The Federation of Community Social Services of BC said, “Big kudos to the federal government. Removing the GST on new rental construction is probably the biggest thing it could do to stimulate construction.”
As I indicated, those are very important for developers and for Canadians. It is also very important to talk about how we can help Canadians. We brought forward the new tax-free first home savings account to save up to $40,000. People saving for their first home can put away $8,000 a year for five years for a total of $40,000, or over 15 years.
This is like an RRSP. People do not pay taxes going in or on the way out. This is a win-win-win for Canadians. We already have 150,000 young people who have taken advantage of this program within the first six months. I say félicitations. It is excellent.
Since 2015, we have found housing for nearly two million people. We have invested $4 billion in the housing accelerator fund. We have already seen houses being built, and up to 100,000 more units will be built soon.
We just signed an agreement with the City of London, Ontario, where 2,000 housing units will be built in the next three years. There will also be 1,700 units built in Vaughan, Ontario, and 2,600 units built in Halifax in the next three years.
Those are big, successful numbers for the quick construction of housing.
I want to finish with something very important. Today, I witnessed, sadly, the Conservative Party members voting against tweaking the Atlantic accord that would allow Nova Scotia, and Newfoundland and Labrador, with the fastest winds in the world, to invest not only on land wind farms, but in offshore wind farms. We have none in Canada right now.
The sad thing about it is I saw a tweet from my colleague, the Premier of Nova Scotia, this afternoon and he is a Conservative. Let me read what he said. He said, “Bill C-49 is a necessary first step in unlocking our energy potential. There will be many steps along the road but we are hopeful that Bill C-49 passes so we can get started.” It did pass, but without the support of the Conservatives, which is sad.
A quick example of offshore wind is next to Sable Island. We can construct, based on the information, 1,000 turbines that would supply 6.5 million Canadians with energy. That is almost twice as much as what all of Atlantic Canada is using today. This is potential. This is growth. This is revenue.
The Conservatives often ask how we are going to pay for it. We are going to bring in more revenue so we can continue to support Canadians. We will not be making the cuts to our veterans, by closing nine offices and firing 1,000 employees.
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- Oct/17/23 4:49:50 p.m.
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Mr. Speaker, what gets my blood pressure going up is when you people vote for something that is really important to Atlantic Canadians. That is what is bringing the pressure up. I just do not understand how, when we have an opportunity—
An hon. member: Answer it.
Mr. Darrell Samson: I will answer it. If you had voted for it, it would have gotten into committee—
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- Oct/17/23 4:51:50 p.m.
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Mr. Speaker, that is a very important question, because we are talking about small businesses all across Canada. It was tough, but the government was able to give them up to $60,000. They could keep $10,000 of the first $40,000. Of the remaining $20,000, they could keep another $10,000, so that means $20,000 was available.
We also made changes that allow small businesses to defer their loan repayments for a year, so plenty of tools have been offered. I do not know whether this meets the needs of all businesses, but it does meet the needs of some of them. I am sure of that, based on the discussions I have had.
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- Oct/17/23 4:53:41 p.m.
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Mr. Speaker, that is a very important question. We have already started moving toward that, and I appreciate the support we are receiving from my colleague in the NDP. We brought in the top five grocery CEOs. We had some very productive conversations. We are starting to see prices drop, but they are not stabilized as much as they need to be, and we need to bring others in. We need to bring the manufacturers in; we need to bring the banks in; we need to bring the gas companies in. There are a lot of strategies to be had, and I am definitely going to continue to push for those types of approaches and strategies as we move forward.
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Madam Speaker, I thank my colleague for that passionate speech. I know he is a hard-working member of his party. We appreciate his work and his suggestions.
I would like to ask him a question. Does he agree that there are several ways to pay off our debts? We can pay off our debts if we grow our country's revenue. Does that not help pay our debt?
If the answer is yes, and I expect it will be, why did he and his party vote against Bill C‑49 today? We asked for changes to the Atlantic accord to open up a market in offshore wind energy with incredible global potential for Canada, and especially for Atlantic Canada.
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