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Decentralized Democracy

House Hansard - 304

44th Parl. 1st Sess.
April 29, 2024 11:00AM
Context: House Hansard - 304 - Apr/29/24
Mr. Don Davies (Vancouver Kingsway, NDP)
  • Apr/29/24 1:06:54 p.m.
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Mr. Speaker, spending on machinery and equipment by businesses in Canada, and on research, development and innovation, has been falling as a share of GDP in Canada for many decades, in fact dating back to the large corporate tax cuts that Paul Martin introduced at the turn of the century. To compare us to the United States, in 2014, investment support per worker in the U.S. was $20,700, and it was $14,400 in Canada. In 2023, the U.S. spending per worker rose to $27,800, and it is only $14,500 in this country. It has gone up $100 in about 10 years. I am wondering whether my hon. colleague would agree with me and the NDP that we need to find ways to have the business sector in this country invest more in machinery and equipment and in technology and innovation, and whether he has any ideas to share with the House as to how we could do that to better support workers and, by doing so, improve Canada's economy.
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Context: House Hansard - 304 - Apr/29/24
Mr. Don Davies (Vancouver Kingsway, NDP)
  • Apr/29/24 1:36:11 p.m.
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Mr. Speaker, my hon. colleague talked about the provisions in this budget that would allocate billions of dollars for housing. I think that is an excellent initiative in this budget. I think we all know, across the country, that we are facing what can only be described as a housing crisis. The generation coming up has never before faced such a difficult time finding an affordable place to rent or to own. We have to get money to pay for it, if the federal government is going to be at the table as a partner. In 2022, the government put in a 15% surtax on bank profits over a billion dollars, yet in 2022, the oil and gas industry made record profits of $63 billion. Never before in the history of Canada has it made more money. Why has the government not considered bringing in, at least temporarily, a 15% surtax on excess profits over a billion dollars for the oil and gas industry and using that money to help build houses for Canadians who need them?
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Context: House Hansard - 304 - Apr/29/24
Mr. Don Davies (Vancouver Kingsway, NDP)
  • Apr/29/24 1:50:44 p.m.
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Mr. Speaker, it is said in the financial world that the best predictor of future performance is past behaviour. I was first elected in 2008, when there was a Stephen Harper government. I was in the House when the Conservatives ran seven consecutive deficits. When I entered the House, the debt of Canada was $467 billion. It was $628 billion in 2015, when Mr. Harper left office. We will not be taking any lessons or lectures from the Conservative Party on deficits or debt, since the record speaks for itself. The capital gains provision in this budget would apply to 0.13% of people, with an average income of $1.4 million per year. Could my hon. colleague tell us what the Conservative position is on capital gains? She has talked about transparency. Will the Conservatives keep that or endorse that policy, or do they oppose it, yes or no?
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