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Decentralized Democracy

House Hansard - 267

44th Parl. 1st Sess.
December 13, 2023 02:00PM
Context: House Hansard - 267 - Dec/13/23
Mr. Alistair MacGregor
  • Dec/13/23 5:54:09 p.m.
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Madam Speaker, when we were questioning the witnesses, whether it was Michael Medline, or Galen Weston of Loblaws, it became quite clear that these CEOs occupy a different universe from everyday people. They breathe a rarified air. They command very impressive salaries. In Galen Weston's case, I think his take-home pay is about 431 times that of his workers. They are quite defensive. They will say their margins are pretty small if we compare them to those in other industries, yet if we look at the data, their margins have doubled over the last three years. Here is the thing: Their gross revenues have been going up, so even if margins remain static, as they have for a little while now, they are still going to result in record profits. We can see it when we compare quarterly earnings from one year to the next. The reason this is such an emotional issue for Canadians is that the products these CEOs are selling are essential for life. These are not just any products, like those at a hardware store; this is food that people need to bring home to keep their families alive. They also sell pharmaceutical products, which are also essential. Why we are seeing anger in the Canadian public is that, for two to three years now, families in my riding and right across this country have been having to make do with less and having to make hard choices. They are the ones bearing the burden, and all the while, corporate profits are reaching record levels. There is an imbalance right now in Canada, a country where corporate profits are reaching record levels but everyone else is suffering. I am sorry to say this, but I do not see enough action coming out of the present Liberal government, and we know where Conservatives stand with their corporate friends. When presented with evidence showing oil and gas profits and their gargantuan effect on food prices, the Conservatives will just keep saying, "carbon tax, carbon tax, carbon tax", when that is minuscule compared to what corporate profits are doing in this sector. If they do not want to argue with facts, that is fine; they want to live in a different reality. I want to say that I am proud to be a member of a party that drove this issue to committee. I am proud it is being discussed in the House. I will conclude by saying that I will not stop fighting for the ordinary people in my riding and making sure that we expose corporate profits and their role in driving inflation in Canada.
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