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Decentralized Democracy

Member of Parliament

Hon. John McKay

  • Member of Parliament
  • Liberal
  • Scarborough—Guildwood
  • Ontario
  • Voting Attendance: 62%
  • Expenses Last Quarter: $111,926.23

  • Government Page
Context: House Hansard - 101 - Sep/23/22
Hon. John McKay
  • Sep/23/22 12:59:09 p.m.
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  • Re: Bill C-30 
Mr. Speaker, the benefit of being here a long time is that this seems to be a go-to position of my friends on the left. There is an excess profits tax. All of these companies the member is complaining about, if they fall within the band of excess profits, will be taxed directly for that. I take note, as he did, of the excess profits tax for banks and insurance companies. There will be a gathering of revenues. I also take note that lately, primarily because of the low unemployment rate, the government's revenues have been quite robust, again speaking to the point that the government's management of its finances has been quite exemplary.
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Context: House Hansard - 83 - Jun/7/22
Hon. John McKay
  • Jun/7/22 4:25:48 p.m.
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Madam Speaker, I am shocked. The federal government is already taxing those who are making excess profits. There is an excess profits tax built right into the system, so I am not quite sure what the hon. member is driving at, but those companies that are making extraordinary incomes will receive an excess profits tax allocation when they file their returns.
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