44th Parl. 1st Sess.
April 18, 2024 10:00AM
- Apr/18/24 10:27:14 a.m.
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- Re: Bill C-5
After nine years, he has doubled the cost of housing, doubled the down payment needed to buy a home and doubled the mortgage payment for an average home. Let us not forget that nine years ago, the average down payment was around $20,000. I remember because I was the minister responsible for housing at the time and it was possible to buy a home with a modest down payment of $20,000. Now, the down payment that is needed has doubled. Roughly 64% of the average monthly income is needed to pay the monthly costs associated with housing. That is nearly double what it was nine years ago. As a result, only the rich, only the children of the wealthy can buy a home right now.
“Do they want to live in a country where we make the investments we need in health care, in housing, in old age pensions, but we lack the political will to pay for them and choose instead to pass a ballooning debt on to our children?” I am quoting the Minister of Finance.
This Prime Minister is the one who doubled our national debt nine years after saying the budget would balance itself. He said he would run three small deficits totalling less than $10 billion. Now he has added nearly $700 billion to the debt, most of which has nothing to do with COVID-19 spending. He continues to rack up deficits of approximately $40 billion, three years after COVID-19. He can no longer say that the dog ate his homework and that the deficits are tied to COVID-19. He is choosing to go deeper and deeper into debt.
I would like to tell the minister that we do not want to live in a country where we leave our children with a growing debt, but that is the country we now live in after nine years under this prime minister.
“Do they want to live in a country where those at the very top live lives of luxury but must do so in gated communities behind ever-higher fences using private health care and private planes because the public sphere is so degraded and the wrath of the vast majority of their less-privileged compatriots burns so hot?” I am again quoting the finance minister.
That is the country that we are living in now after nine years under this Prime Minister. Yes, the wealthy, like him, have private planes. He uses his private plane more than anyone else, while he is forcing single parent mothers who dare to drive their Toyota Corolla to pay a carbon tax. He is spending taxpayers' money to take illegal vacations on private islands. He and his cronies are the ones benefiting from this, while things on our streets and in our neighbourhoods are worse than they have ever been. It is complete chaos. Auto theft has become so commonplace that the police are telling people to leave their keys next to the door so that the thieves will have an easier time of it. That is the country that we are living in after nine years under this Prime Minister.
Minister, do we want to live in a country where we can tell the size of one's paycheque by their smile? No, but that is the country we live in. Do we want kids to go to school hungry? No, but the government says that is the country we live in now. Do we want to live in a country where the only young people who can buy a home are those with rich parents? No, but that is the country we now live in after nine years of this Prime Minister. Do we want to live in a country where our children are saddled with more and more debt year after year? No, but that is the country we now live in after nine years of this Prime Minister. Do we want to live in a country where the rich, like this Prime Minister, can travel around the world in private jets, while the majority live in the chaos and hell of our crime-ridden cities? No, but that is the country we now live in.
We do not want that kind of country. That is exactly why we need an election to elect a new common-sense government, a government that will deliver the country we love for all Canadians.
Just for a minute, let us talk about the myth that they are very rich. Nine years ago, members will recall, the Prime Minister said that he was going to spend, spend, spend, that it would not cost anyone a cent, and that some rich guy on a hill was going to pay all the bills. Where is he?
After nine years of this government, the rich are paying less than ever. After nine years of this Prime Minister, and for the first time in our history, owning a home is beyond the reach of an entire generation. After nine years of this Prime Minister's promises to help the so-called middle class, the middle class no longer exists. The middle class is poor.
If anyone thinks I am exaggerating, I have one simple question: Can a middle-class person afford to buy a house today? It is mathematically impossible for a middle-class person to buy an average home. I am not the one saying it. According to the Royal Bank of Canada, it takes 63% of the average family's pre-tax income to pay the average costs of a home today. It is a mathematical impossibility. Nine years ago, it took 38% of a monthly paycheque to pay the mortgage. Now, it takes twice as much.
If someone cannot buy a house, they are not part of the middle class. One in four families cannot feed their own children—one in four, and that is from the government's own statistics. That family is not part of the middle class either.
Yesterday's budget tabled by the Finance Minister was a major admission of failure. She admitted that after nine years of her government, life is hell for the so-called middle class. Middle-class Canadians have become Canada's poor. This Prime Minister has presided over the worst decline in middle-class quality of life in the history of our country. Things may even be worse than during the Great Depression. That is not me saying this, that is the minister herself and the Prime Minister.
When the Prime Minister talks about the condition this country is in, he describes it as a living hell for the poor and for workers. He describes a hell for the children who do not have enough food to eat. He describes a country where the elderly cannot pay their bills.
It is as though he has not been Prime Minister for a decade. Waving a magic wand, he tries to convince us that this is his first day on the job. After nine years, the Prime Minister is right: Life is hell for the middle class, and it is because we have a Prime Minister who is not worth the cost.
Fortunately, it was not like that before this Prime Minister and it will not be like that after this Prime Minister. We will replace him with a common-sense government that will lower taxes, build housing, fix the budget and stop the crime. I will explain how we will do this.
First, Canadians pay more in tax than they spend on food, housing and clothing. That is how things are after nine years of this costly government. That is why the trend must be reversed. Spending must be brought under control so that taxes can be lowered and Canadians' paycheques can go farther. Workers, businesspeople and seniors must be allowed to keep more of their hard-earned money.
Second, more housing must be built. After nine years of this Prime Minister, we have less housing per capita than any other G7 country. That is because we have the worst bureaucracy. Our bureaucracy prevents housing construction, adds hundreds of thousands of dollars to the cost of each home and causes years-long delays. Among OECD countries, Canada is the second slowest to issue building permits. This adds $1.3 million to the price of each new home in Vancouver and $350,000 in Toronto. The City of Montreal prevented the construction of 25,000 homes. The City of Winnipeg prevented the construction of 2,000 homes next to a public transit station built specifically for these future houses. That is absurd. The federal government should not be sending $5 billion to municipal governments for them to build bureaucracies that prevent home building.
On the contrary, we must begin to encourage municipalities to allow more construction by freeing up land and authorizing construction more rapidly. Real estate companies are paid for each house sold. Builders are paid for each house built. We should pay municipalities for each housing unit approved. My common sense plan will require municipalities to allow 15% more construction per year and authorize the construction of high rise apartment buildings near transit stations funded by the federal government. That will be the condition to meet to receive this money.
We will do this by entering into agreements with the provinces, fully respecting their areas of jurisdiction and allowing them to achieve these results as they see fit, without federal interference. Then we are going to sell 6,000 buildings and thousands of acres of federal land to allow for more construction. We will also reduce taxes on housing construction to accelerate construction. This is a common-sense plan to return to a situation where housing is affordable, as it was nine years ago, when I was the minister responsible for housing.
Third, we are going to fix the budget by imposing a dollar-for-dollar rule. For each new dollar spent, my government will find a dollar of savings somewhere else. That is how we cap the cost of government to allow taxpayers and the economy to grow and reduce the size of the government relative to the country.
It is a decentralizing and responsible approach. This is how we will eventually balance the budget, reduce interest rates and bring down inflation.
I find it very ironic that the Bloc Québécois has voted more than once to increase the size of the federal government. It voted in favour of $500 billion in centralizing, inflationary and discretionary spending by the current Prime Minister. I am talking about the kind of spending that increased the size of the government and the number of federal employees by 40%. The Bloc Québécois voted to double spending for external consultants, who now cost $21 billion, in other words, $1,400 in taxes for each Quebec family just for consultants.
We understand why this Liberal centralist government would want to do that, but we do not understand why a so-called sovereigntist party would vote for such an increase and concentration of powers and money at the federal level. It makes no sense. It is because the Bloc Québécois does not want to free Quebeckers from federal costs. It wants to implement a leftist ideology born on the Plateau Mont-Royal. It just wants a bigger role for government, whether federal, provincial or municipal. The Bloc Québécois's leader is obsessed with more government, more costs for workers. We Conservatives want a smaller federal government for a bigger Quebec. We want less control by Ottawa and more power for Quebeckers. A smaller federal government for a bigger Quebec is simple common sense. We are the only party that will be able to do it.
At the same time, we need to eliminate inflation, which widens the gap between the rich and the poor. A monetary system of printing money naturally favours the wealthy. It is something the Prime Minister borrowed from the United States. The United States' monetary policy causes inflation year after year to inflate Washington's spending and to inflate shares on Wall Street. It is an alliance between Wall Street and Washington, between big companies and big government. Of course, it favours the wealthy. The people who live in Manhattan and Washington are the richest people in the country. This is due in part to the fact that the United States prints a lot of money to help both groups.
Here in Canada, for the first time, a Prime Minister tried to copy and paste that approach by printing $600 billion to finance his own spending. It caused the worst inflation since the time of his father, who did the same thing. What are the consequences? Those who have shares or investments in land that is ripe for speculation, in gold, or in exclusive luxury wines get richer. The value of their assets is inflated. Conversely, people who rely on a paycheque or pension get poorer. The value of their paycheque diminishes. It is a transfer of wealth from the poorest to the richest, and it is a benefit that often goes untaxed.
It is a benefit the Prime Minister keeps adding to day after day, causing this inflation. I would add that the people who receive these big financial gifts from governments often pay no taxes at all because they never sell their assets. They borrow money by using their assets as collateral to purchase more assets, whose value swells more with inflation, and then they use those assets to purchase even more assets, and so on. Wealth becomes concentrated in the hands of the infamous 1% or 0.1% of the population. This trend has been accelerating since the Prime Minister came to power, because it helps the wealthiest Canadians and also allows his government to indulge in uncontrolled spending. Both sides get what they want. The Prime Minister can spend the money he prints out of thin air, and the wealthiest benefit from the inflation of the value of their assets and their wealth. It is always the working class that ends up footing the bill for this irresponsible approach.
I will put an end to that. I will restore the Bank of Canada's mandate, which is to keep inflation low and the dollar higher. We will make sure that we do not print money just to spend it, because that is an inflation tax. It is an unjust and amoral tax. I will axe the inflation tax by fixing the budget. I want people to bring home more powerful paycheques.
Speaking of home, home is more dangerous after nine years of this Prime Minister, who automatically releases criminals on bail or allows them to be sentenced to house arrest, the “Netflix sentences” that he implemented with bills C-5, C-75 and C-83. These laws have allowed people to be released mere hours after their arrest so that they could commit more crimes. That is why street crime is surging all across Canada.
Yesterday we heard reports of a major shootout in downtown Montreal. There has been a more than 100% increase in the number of car thefts in Montreal, Toronto and other major cities. My common-sense plan will keep the most dangerous criminals in prison by making those with dozens of convictions ineligible for bail, getting rid of “Netflix sentences,” forcing car thieves to serve their sentences in prison, and not going after our hunters and sport shooters. If someone has a gun they bought legally after going through an RCMP background check, receiving training and passing tests to prove that they are a safe, responsible person, they will be able to keep it. However, if they are criminals, we will stop them from having guns. We will strengthen the border and our ports. We will scan containers to make sure that no weapons or drugs enter the country and that no stolen vehicles leave. That is the common sense needed to stop the crime and make our communities safe again.
We are going to implement a common-sense plan that will rebuild the country that we want, a country that is the opposite of what the Minister of Finance described in her speech. It will be a country where it pays to work, where everyone who works hard can afford to buy a home and put food on the table in a safe neighbourhood. That is what Canadians are entitled to and deserve, and that is what they will have with a common-sense government.
Some hon. members: Oh, oh!
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- Apr/18/24 12:44:19 p.m.
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Madam Speaker, I will be sharing my time with the member for Milton.
I entered politics with three main objectives: first, affordable housing for all Canadians; second, provide secure retirement income security to 11 million working Canadians without workplace pensions; and third, ensure Canadian society and the economy remain robust and competitive in the global knowledge-based economy thus securing prosperity for our children and grandchildren.
On my first objective, in the budget, we have announced tremendous investments for housing, continuing our focus on what we had earlier introduced, the national housing strategy. On my second objective, we have reformed the Canada pension plan to secure retirement income for Canadians, and we have also introduced various targeted programs to support seniors. On my third objective on securing Canada's position in the changing global knowledge-based economy, we have redoubled our efforts through this budget.
Canada has been the best country in the world because of our rich natural resources like oil and gas, minerals and metals, strong agricultural sector, and the hard work of several generations of Canadians, including the present day seniors. However, there are major changes happening in the global economy that have a direct impact on the Canadian economy, which have consequences on Canadian prosperity.
Globalization as we knew it for last several decades has disappeared. Now we are moving toward onshoring, nearshoring and friend-shoring. The world is in this great transition phase and Canada has to act fast to secure our place in the new global economic order.
We foresaw this coming and hence adopted policies to strengthen our manufacturing sector and focused on the knowledge-based sector. We have made, and continue make, major investments in many economic sectors, including the manufacturing sector and sectors focused on advanced technologies.
Before I continue on the budget focus of advanced technologies, including artificial intelligence, let me first note few points.
In the fall, we set three very specific fiscal guideposts. In this budget, each one of the three objectives we set last fall are being met and so is our fiscal anchor, with a declining federal debt-to-GDP ratio over the medium term. In fact, Canada has the lowest deficit-to-GDP ratio and net debt-to-GDP ratio in the G7, and we continue to maintain our AAA credit rating. We have a vision for Canada’s future that is innovative, inclusive and industrious.
I wish to highlight the critical role that innovation and advanced technologies play in shaping the future of Canada’s economy. In a world that is rapidly transforming through technological advancements, it is imperative that Canada not only keeps pace but leads the charge in the global innovation race. Innovation is the cornerstone of economic resilience and growth. It drives productivity, creates high-quality jobs and fosters competitive industries.
Through advanced technologies, we can solve some of our most pressing challenges, from climate change to health care, and enhancing the quality of life for all Canadians while ensuring sustainable development. Canada’s commitment to technological advancement is evident in our strategic investments in sectors like artificial intelligence, quantum computing and clean technology. These sectors are not merely areas of academic interest; they are the engines of our future economy. By investing in these areas, we are setting the stage for a new era of industrial and technological leadership. Advanced technologies also bring tremendous economic benefits. They open up new markets, enable Canadian businesses to compete globally and attract foreign investment.
Every dollar invested in innovation multiplies across the economy, generating wealth and opportunities that extend through every province and sector. Moreover, the adoption of these technologies ensures that Canada remains a desirable destination for talented innovators and entrepreneurs from around the world. By embracing advanced technologies, we are building a robust ecosystem that nurtures creativity and turns innovative ideas into tangible solutions that benefit society as a whole.
As an example of our commitment, let me mention a subject that stands at the very heart of our future economic prosperity and global leadership, artificial intelligence, or AI. Our nation has already made significant strides in this field and it is crucial that we understand and support the ongoing efforts and strategic investments that will solidify Canada's position as a world leader in AI technology.
Since 2017, we have dedicated over $2 billion to nurture our AI ecosystem, establishing Canada as a beacon of innovation and expertise in the global arena. This dedication has borne fruit in numerous ways. We are globally recognized for our strong AI talent, research capabilities and a rapidly growing AI sector that leads the G7 in several key metrics, including the growth of women in AI and year-over-year growth of AI talent.
Our researchers and companies have not only kept pace but have set international benchmarks, publishing more AI-related papers per capita than any other G7 country since 2019. Our AI firms are also at the forefront of innovation, filing patents at three times the average rate in the G7 and attracting a significant portion of venture capital in Canada. Last year alone, the number of actively engaged AI professionals in Canada grew by 29%, underscoring a vibrant and expanding workforce dedicated to advancing this technology.
However, our ambition does not stop with past successes. Recognizing the transformative potential of AI, we have launched pioneering initiatives like the world’s first national AI strategy, the pan-Canadian artificial intelligence strategy, yet we face challenges that could stymie our progress.
Currently, most advanced computing capacity, which is crucial for AI development, is located outside Canada. This not only slows down our research and innovation, but also poses security risks and dependencies on foreign technology. To address these challenges and propel us forward, budget 2024 announced a historic investment in AI, $2.4 billion targeted at enhancing our AI capabilities. This includes $2 billion for establishing the AI compute access fund and the Canadian AI sovereign compute strategy, which aims to catalyze the development of Canadian-owned AI infrastructure and reduce our reliance on external resources. An additional $200 million will support AI start-ups and accelerate AI adoption in crucial sectors like agriculture, health care and manufacturing.
It is only through our collective effort and shared vision that we can realize the full potential of AI and secure Canada’s advantage on this critical frontier.
The importance of innovation and advanced technologies to Canada’s economy cannot be overstated. As we look forward, let us continue to invest in the technologies of tomorrow and ensure that Canada remains at the forefront of global innovation. Let us be bold in our ambitions and steadfast in our commitment to a prosperous, technologically advanced Canada.
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