- Member of Parliament
- Member of Parliament
- Bloc Québécois
- Rimouski-Neigette—Témiscouata—Les Basques
- Quebec
- Voting Attendance: 68%
- Expenses Last Quarter: $115,154.34
- Government Page
Madam Speaker, I am excited to speak to Bill C-32 today, the bill to implement the economic statement introduced by the Liberal government.
The bill contains 25 tax measures and about 10 other non-tax measures. This may seem like a lot, but a closer look at these measures reveals that they are twofold: minor legislative amendments, and measures that were announced in the spring 2022 budget that were not included in the first budget implementation bill passed last June. Clearly, like the November 3 economic statement, Bill C-32 contains no measures to address the new economic reality of high living costs and a possible recession.
The Bloc Québécois bemoans the fact that this economic update mentions the issue of inflation 108 times without offering any additional support to vulnerable people even though there is a fear that a recession will hit as early as 2023. Quebeckers who are worried about the rising cost of living will find little comfort in this economic update. They will have to make do with the follow-up to last spring's budget. We must denounce a missed opportunity to help Quebeckers face the difficult times they are already experiencing or that are feared for the months to come.
This bill will not exactly go down in history, and its lack of vision does not deserve much praise. However, it does not contain anything harmful enough to warrant opposing it or trying to block it. The Bloc Québécois will therefore be voting in favour of Bill C-32, albeit half-heartedly, and I would like to use the rest of my time to talk about what is missing from this economic statement.
The first big thing missing from Bill C-32 is support for seniors. Still, to this day, Ottawa continues to deprive people aged 65 to 74 of the old age pension increase they need more than ever now. Seniors live on fixed incomes, so it is harder for them to deal with a cost of living increase as drastic as the one we are currently experiencing. These folks are the most likely to face tough choices at the grocery store or the pharmacy. Last week, a study by the Association québécoise de défense des droits des personnes retraitées et préretraitées in partnership with the Observatoire québécois des inégalités revealed that nearly half of Quebec seniors do not have a livable income. Specifically, 49% of seniors aged 60 and over do not have a decent income to live in dignity. Members will agree that helping seniors is about more than just ageism, isolation and abuse. It is about ensuring that they have adequate financial support to live and age with dignity. This is not currently the case in terms of the Liberal government's priorities.
What is more, the government keeps penalizing seniors who would like to work more without losing their benefits. Inflation, unlike the federal government, does not discriminate against seniors based on their age. It is not by starving seniors 65 to 75 that we are going to encourage them to stay in their jobs. We do that by no longer penalizing them for working.
The second thing that has been largely forgotten in this economic update is employment insurance reform, a significant measure that the forgotten are counting on. Employment insurance is the ultimate economic stabilizer during a recession. While a growing number of analysts continue to be concerned about the possibility of a recession as early as next year, the Canadian government seems to be going back on the comprehensive EI reform it promised in the summer. The system has essentially been dismantled over the years and currently six in 10 workers who lose their jobs are not entitled to employment insurance. This is because they fail to qualify and, of course, they do not meet the current eligibility criteria. That is unacceptable in a developed country like ours.
The Bloc Québécois is in favour of increasing the replacement rate to at least 60%, as was the case prior to 1993.
The Bloc Québécois also believes that we need to better redistribute the EI regions to reflect the reality of workers in the seasonal industry and unemployment in the regions. In my riding in the Lower St. Lawrence area, seasonal work is a reality for many people who work hard in industries such as forestry, tourism and agriculture. These industries are important for economic vitality, but they also help build our region's unique character. They are part of our culture and heritage.
By stubbornly refusing to move forward with the necessary EI reform, Ottawa is putting our workers, our seasonal industries and our regions in a precarious situation. It is ignoring and abandoning our needs, and yet the Liberals promised EI reform in both the 2015 and 2019 elections. How many times will the federal government let Quebec's regions down?
The third thing missing here is inflation, a word we have been hearing over and over. As I said earlier, the government has identified the problem, the rising cost of living, but is not actually doing anything about it. It tells us to expect very tough times this winter, but says nothing about how to get through them. It makes dire observations about the economic situation, but dismisses any and every opposition suggestion for dealing with it. Consider supply chains, whose fragility was exposed during the pandemic. Last spring's budget named the problem 71 times, and the economic update did so another 45 times. However, neither document offers any solutions whatsoever to the problem.
In Bill C-32, the government repeats measures it took in the past and acts on announcements from last April's budget, but there is nothing to suggest it knows where it is headed. This is all déjà vu. It is a celebration of Liberal lip service, but one cannot feed one's children with fine speeches.
Another major file that Ottawa continues to ignore is health transfers. The meeting of health ministers from Quebec, the provinces and the federal government from November 7 to 9, 2022, went nowhere. The federal government showed up empty-handed and did not offer any increase in health transfers. Even worse, it lectured and insulted the provinces, accusing them of mismanaging health care. That came from a government that is incapable of managing its own responsibilities such as passports, employment insurance and immigration. That is really rich coming from the federal Liberals.
The Bloc Québécois is defending the provinces and Quebec, which are united in asking for an increase in federal health transfers from 22% to 35%, or an increase from $42 billion to $60 billion. That is a $28 billion increase per year, as unanimously requested by Quebec and all the provinces. This permanent and unconditional increase would make it possible for Quebec to rebuild its health system, which was undermined by years of austerity caused by the reduction in transfers in the 1990s. It would also help address issues related to the aging population and the additional pressure this will put on the health care network.
Those three Bloc Québécois priorities are not included in the economic update. I would like to take the time to remind my fellow members, and all Quebeckers, of what the Bloc Québécois had asked the government to do in conjunction with this economic statement. Our request was both simple and meaningful in an uncertain and difficult economic context: We asked the government to refocus on its fundamental responsibilities towards vulnerable people.
The measure of a society is how much care and support it provides to those who are most vulnerable and most in need. To do this, three key measures are more crucial than ever: increasing health transfers; providing adequate support to people aged 65 and over, since they are on a fixed income with low indexation that fails to offset our rampant inflation; and, of course, undertaking a comprehensive reform of employment insurance. Unfortunately, the Liberals did not think any of these measures were worth considering.
1398 words
All Topics
- Hear!
- Rabble!
- add
- star_border
- share
Madam Speaker, this morning I have the privilege of rising to speak to Bill C-249 on the cryptoasset sector, which was introduced by my Conservative Party colleagues.
This bill seeks to require the Minister of Finance to develop a national framework to encourage the growth of the cryptoasset sector within three years after the coming into force of the act.
The bill states that, in developing the framework, the minister must consult with persons designated by Quebec and the provinces and with experts from the cryptoasset sector. Bill C-249 also provides for reporting and tracking requirements in relation to the framework.
In a sector that is more ideology-driven than factual, the bill points out that cryptoassets have significant economic and innovative potential for Canada and that the government must focus on lowering barriers to entry into the cryptoasset sector, protecting those working in the sector and minimizing the administrative burden.
I will not keep members in suspense for very long. I will say right now that the Bloc Québécois will be voting against Bill C-249.
Before getting into more detail about our position, I would like to remind the House and my Conservative colleagues of some financial advice that the leader of the Conservative Party and member for Carleton gave to all Quebeckers and all Canadians last spring. It is no secret that the new leader of the Conservative Party of Canada dreams of bitcoin and other cryptoasset fantasies at night.
Barely seven months ago, in April, he organized a small staged media event when he went to a restaurant in London, Ontario, and paid for a shawarma in bitcoin. He took the opportunity to recommend that Quebeckers and Canadians invest their savings in cryptocurrency to shield their money from inflation.
What reasoning did the leader of the Conservative Party use to offer this advice?
He used a simplistic—and frankly dishonest—intellectual shortcut to blame the big bad central bank for the inflationary crisis and in the same breath presented the decentralized cryptocurrencies, regulated by the very free market, as a magic solution against inflation.
The problem with the supposed freedom of cryptocurrencies like Bitcoin is that they are also free to crash and burn. I say this with great empathy and compassion for anyone who went through this, but the outcome was quite dramatic for those who followed the financial advice of the Conservative leader by investing in bitcoin in April 2022. Just six months later, they could only watch helplessly as close to 70% of the value of their hard-earned savings had evaporated. Poof.
I would like to hear what the Conservative leader has to say to all these constituents who trusted him and who now must surely feel he has cheated, betrayed and abandoned them. While he claims to care about helping families put food on the table, how can he take advantage of his position and the credibility his role gives him to trot out such irresponsible and dangerous financial advice?
As I indicated earlier, the Bloc Québécois will vote against the Conservative bill. My colleagues and I are convinced that, while cryptoassets do have innovative potential in some regards, the regulatory framework around them must be fleshed out and strengthened so as to make the digital and financial ecosystem in which they operate more transparent and accountable.
Unlike the Conservative Party, we believe that legislative action focused strictly on the growth of the sector, as proposed in the bill, on lowering barriers to entry, and on minimizing the administrative burden would be inappropriate and irresponsible.
The sector has experienced indisputable and dramatic growth in recent years. What it really needs now is not support for growth but a real regulatory framework that limits the risks associated with possession and transactions of cryptoassets.
There are still many issues that require us, as decision-makers, to act with caution and diligence in this matter.
The first issue is, of course, the volatility of cryptocurrencies, which is still extremely high and often inexplicable. It can be correlated to media exposure, and an event as trivial as a simple tweet has previously caused fluctuations of several thousands of dollars in just a few hours for some currencies.
That is why many professional investors see the use of cryptoassets as more of a lottery than a serious investment. Similarly, Paul Beaudry, Deputy Governor of the Bank of Canada, considers them to be more of a tool for speculation than a real means of payment, as its supporters want to present it.
Another issue that cannot be overlooked when we talk about cryptoassets is energy consumption, which ultimately leads us to energy production. That certainly is in the Conservative Party’s wheelhouse. To put it simply, cryptoassets are created by mining. This is not mining from the earth, but rather mining done by many very powerful computers operating at full power to perform extremely complicated calculations.
It is also estimated that the total activity generated by cryptomining uses as much energy as a country like Norway, about 130 terawatt hours. By comparison, Hydro-Québec's electricity sales only reached 50 terawatt hours in 2020. I think that we will have to reflect on what we really want to focus on and what we want to do with our energy production.
It appears euphemistic, then, to say that cryptoassets are energy intensive. As Europe is going through an energy crisis, we must ask ourselves whether priority should be given to these activities rather than heating our homes, schools and hospitals. Moreover, the environmental impact of these activities must not be forgotten. For jurisdictions that do not have the opportunity to produce clean energy like Quebec, the pollution caused by cryptomining is extremely significant.
The third issue regarding cryptoassets, which we cannot ignore, is their use to finance criminal and terrorist activities. There is a real and documented possibility of taking advantage of the cryptoasset sector to launder money and finance terrorist activities due to two aspects inherent in these activities: anonymity and the proliferation of instant transactions.
The launderers take advantage of this sector operating outside of conventional banking systems to convert the proceeds of criminal activities into legal tender. There currently exists a regulatory vacuum, one which organized crime certainly takes advantage of.
I will give a concrete example. At this time, current legislation allows people to convert up to $1,000 per day into cryptocurrency at an automated teller machine without having to verify their identity. There are currently no fewer than eight companies that operate such machines in Quebec and a single person can exchange several thousands of dollars per day. Obviously, this is a real boon for criminal organizations.
Terrorists can use it for similar reasons. Since it is difficult to identify the actual recipient of a wallet, money can be transferred from one side of the world to the other to finance terrorist activities without alerting the authorities responsible for our protection. So much for this party claiming to be the champion of law and order.
My time is coming to an end. I will conclude by reminding you that the cryptoasset sector has grown by leaps and bounds over the past few years. However, there have been bumps along the way, and it is now clear, given the crash of bitcoin and several other cryptocurrencies, that it is better to be cautious and responsible when it comes to this technology, which is a minefield of risks and uncertainties.
Unlike the Leader of the Conservative Party and his party members, who seem to be looking at cryptoassets through rose-coloured glasses, the Bloc Québécois prefers to focus on transparency and responsibility. We are—
1302 words
All Topics
- Hear!
- Rabble!
- add
- star_border
- share
Mr. Speaker, it is my privilege this evening to speak to Bill C-253. I will try to summarize it for the people who are watching and listening. This is a bill designed to make the Bank of Canada, that is, the central bank, accountable to the Office of the Auditor General. It is no surprise that the Bloc Québécois is opposed to this bill. I will explain why.
As we know, the bill introduced by the Conservative member for Regina—Qu'Appelle talks a lot about inflation. They want to find the villains who are responsible for inflation. I am going to talk about who, or rather what, is responsible for inflation. I will also propose concrete solutions.
What we need to understand about Bill C‑253 is that there are already accountability mechanisms in the Bank of Canada Act, and asking the Auditor General to do it is not the right way to go about it, precisely because the Bank of Canada must remain independent of any political influence. Also, of course, there is the fact that we must not interfere in monetary policy, despite what some of our colleagues would like.
Let us look at the accountability mechanisms in the Bank of Canada Act. The bank is required to be accountable. Once a year, two independent firms must audit the bank's affairs simultaneously. That is one example. The Bank of Canada is the only federal Crown corporation subject to this requirement.
To ensure that this accountability is in place, the act subjects the bank to oversight by virtue of which the Minister of Finance can also request special audits and reports. As we can see, there are already mechanisms in place.
Furthermore, the Office of the Auditor General is already authorized to exercise an oversight role in certain areas of the bank's business functions. It may review and audit the bank's operations and records, because the bank serves as the government's fiscal agent, advisor on public debt management and manager of the exchange fund account.
Given the mechanisms I just cited, it is not clear how the Conservative Party's proposal would add actual value to the current situation.
Let us now reflect on the Conservative Party's position in introducing this bill. Its position is disturbing. Beyond the legislative changes themselves, this bill is part of a broader ideological agenda on the part of the Conservative Party to question the competence of the Bank of Canada and to undermine public confidence in it.
I will go even further. The Conservative Party's approach is troubling and very dangerous. Of course, the Bank of Canada is a complex, even abstract, institution for the general public. Understanding its role, its responsibilities, the decisions it makes and everything that entails is not necessarily within the grasp of even those with a keen interest in economics. This makes it the perfect bogeyman for many politicians looking for an easy target to blame for the current economic climate and the record surge in inflation these past few years.
That much is quite clear. The new leader of the Conservative Party and member for Carleton said during the leadership race that he was even prepared to fire the current head of the central bank, in other words, the governor.
It is unbelievable that the leader of the official opposition said that. I think he did not look too far for his inspiration. I suspect he copied this formula from a certain neighbour to the south.
If the Prime Minister were to fire the governor of the central bank because he did not agree with his monetary policy or because he needed someone to blame for the current inflation crisis, that would seriously undermine the independence of this institution, which is one of Canada's fundamental institutions.
It would also be an irrational, even impulsive act that could have devastating consequences for Canada's international image, its stability and also its ability to attract foreign investors.
We can all agree that firing the governor of the central bank is an idea that we cannot really take seriously. We can understand the desire to identify those responsible for certain crises, but firing the governor of the Bank of Canada will not solve the inflation crisis.
I am not saying that we must refrain from criticizing the role of the central bank. What I am saying is that although the governor's decisions can be questioned, it is irresponsible to go so far as to dispute the economic situation or inflation.
We note that, in the past few years, the Bank of Canada still achieved good results. Yes, I think it is okay to question the role of the Bank of Canada. That said, in 1991, the Bank of Canada set a target in order to limit inflation. Since then, it has always managed to keep inflation within a range of 1% to 3%.
It is okay to question whether the central bank's monetary policy will allow us to tame inflation for Quebeckers and Canadians. It is also reasonable to question whether the government used the central bank as an overly generous ATM because of the pandemic. However, we must take the time to put things into context and consider the big picture. We must, of course, avoid intellectual shortcuts, and avoid critics who take intellectual shortcuts.
Everyone would also agree that it is a question of intellectual rigour and honesty towards our constituents. We must go beyond simplistic discourse. I will put things in perspective in order to explain the cause of today's inflation. I would say that the vast majority of the factors that influence inflation are beyond the central bank's control. I would say that nearly 70% of the external drivers of inflation are not necessarily related to what can be controlled here in Canada.
I am thinking of factors, other than monetary policy, over which the Bank of Canada has no control. These include supply chains, which are in shambles because of the COVID-19 pandemic, and the war in Ukraine. These factors have exacerbated inflationary pressures because of the impact they have had on the grain and fuel markets.
The central bank is one of the most respected central banks in the world. It has a reputation. The inflation that we are experiencing in Canada is not unique to our economy; it is being felt in all OECD countries.
Again, it is okay to criticize the central bank and its governor, but it is very dangerous and counterproductive to draft legislation containing language designed to attack the very legitimacy of the institution. That is what the Conservatives are trying to do through Bill C‑253, which seems to be fuelling incendiary rhetoric.
The Bloc Québécois will not play along, and that is why we are voting against this bill.
1158 words
All Topics
- Hear!
- Rabble!
- add
- star_border
- share
Mr. Speaker, there is one thing the Conservative Party suggested to counter inflation: cryptocurrency. We learned in a recent Privy Council backgrounder that cryptocurrency offers no protection against inflationary shocks.
This summer, cryptocurrency lost half of its value compared with the beginning of last year. I would like my colleague to explain why it is that his leader, the hon. member for Carleton, claims that cryptocurrency protects against inflation. Specifically, I would like to know whether my colleague really believes that cryptocurrency is protected from surges in inflation.
88 words
All Topics
- Hear!
- Rabble!
- add
- star_border
- share
Mr. Speaker, I have a simple question for my colleague.
Inflation was 6.9% in April when the government tabled its budget. The latest data show that it was 7% in August. Today, the government has suddenly woken up and decided to implement measures to counter inflation.
My question is very simple: Why did the government wait five months after tabling the budget to propose concrete, meaningful measures to deal with inflation? Why did it not do it in April's budget?
82 words
- Hear!
- Rabble!
- add
- star_border
- share
Madam Speaker, it is good to have a targeted measure for people who are truly in need, low-income Canadians and the most vulnerable.
My colleague mentioned the central bank. I think that it is also important to point out that we must reaffirm our confidence in our institutions. That is very important.
We heard many things from a new party leader, in particular that he wanted to abolish Canada’s central bank. It is sensible and perfectly normal to criticize the role of Canada’s central bank. We need to understand that, as an institution, it has succeeded in containing and maintaining inflation at a rate of 1% to 3% since 1991. Right now, however, we are facing the unknown, in terms of both supply and demand. Obviously, there are a number of external factors beyond the Bank of Canada’s control that are driving the rise in inflation. In this respect, we need to implement targeted measures, and the Bloc Québécois agrees.
I hope that the government will learn how to take action when faced with a particular situation rather than waking up five months later as it is doing now.
200 words
- Hear!
- Rabble!
- add
- star_border
- share
Madam Speaker, before I begin my speech, I would like to congratulate everyone who participated in Quebec's general election. As everyone knows, yesterday was election day in Quebec. I would like to congratulate the two new MNAs I will be working with in my riding.
I also want to congratulate all the people who took part in yesterday's great democratic process. Their participation is important to our democracy. As we all know, being in politics is not always easy. It takes a lot of courage, so I have a lot of respect for them. Naturally, I am grateful to everyone who contributed to the general election.
Today, we are taking part in the debate on Bill C‑30, which would increase the GST-HST credit. That will put money back into the pockets of people who need it. There is nothing random about this; it is a direct response to the worst inflationary crisis of the past 30 years.
Obviously, the Bloc Québécois will vote in favour of this bill. However, we have a lot of questions.
Also, I would like to begin with a quick introduction to highlight what happens when there is inflation and to talk about the various misconceptions we have heard.
Yesterday, I called the representatives of the organizations in Rimouski-Neigette—Témiscouata—Les Basques and asked them what they thought of the GST credit top-up. Of course, this is a welcome measure. Everyone is hurt by inflation. That said, when there is inflation, the rich get richer and the poor get poorer.
When I spoke yesterday with representatives from advocacy groups for people experiencing poverty and unemployment, they told me that poverty was already a growing problem even before the inflationary crisis, before the war in Ukraine. What is interesting, however, is that fewer people are applying for welfare, even though poverty rates are rising. What this actually means is that the people who are living in poverty now are the working poor and seniors. In other words, poverty is changing.
In order to paint a picture of the reality facing people back home, I would say that the image of poverty is also changing. I represent a riding that is largely rural, and in these areas, we are not used to seeing homeless people on a daily basis, as one does in big urban centres. These days, however, with the rising cost of groceries, prescription drugs and housing, some people do have to live on the street. This was unthinkable a few years ago. Of course I stand in solidarity with them, and I am trying to describe the reality facing people in my region.
I wanted to emphasize that because, despite what some people are saying, poverty is on the rise. A one-time GST-HST cheque is not going to make a huge difference.
When we talk about inflation, we have to be responsible. There are many things that we could say or consider doing so we could wave a magic wand and make inflation disappear. We have to be serious. We have to implement solutions that address the problems caused by inflation, and that goes beyond issuing a simple little cheque, contrary to what the government thinks and contrary to the claims of certain members who seem to think that inflation would disappear if only taxes were cut. I do not agree with their magical way of thinking.
We are in uncharted territory and we have to understand that. I am putting it in perspective.
We are currently seeing a rise in demand. In order to control inflation, we must try to change supply. Right now, there is a problem on both sides. Demand is growing but the supply is not necessarily keeping up. Inflation can be explained by a myriad of factors. Government is not responsible for all of our woes, although it is responsible for some of them. About 70% of the causes of inflation are related to external factors.
Consider the labour shortage, for example. The government does have a role to play in addressing the current labour shortage. However, there are other, external factors, such as the global disruptions in the supply chain and the war in Ukraine. These are complex issues that cannot be resolved by changing our monetary policy or passing a special act.
I will put forward constructive solutions to help the most vulnerable Canadians and to counter inflation.
These solutions are nothing new. I did not wake up this morning and decide that I had solutions for fighting inflation. That was already in our budgetary expectations for the 2022 budget tabled in April. There is something I still do not understand, and I hope that the government will clear up the mystery: Why did they not take action sooner?
In April, inflation was at 6.9%. When the government tabled its budget, the inflationary situation was practically identical. According to the latest data, inflation was at approximately 7% in August. What is the difference?
I do not understand. It is as if the government always reacts instead of being proactive. Governing involves being proactive. Although there was already an inflationary crisis last April, there was nothing in the last budget. Today’s bill represents $2.5 billion in government investment.
I will give an example. I like comparing things. This same government invested $2.6 billion to help oil companies develop carbon sequestration technology. For the people in need they wanted to help they decided to invest $2.5 billion, but for the ultrawealthy oil companies, no problem, they gave them $2.6 billion in the last budget. That is the Liberal government’s real priority.
Let us get back to concrete solutions. First, it is important to understand that the Bloc Québécois is not against financial assistance. We stood with the government when it wanted to provide targeted assistance at the beginning of the pandemic, whether through the emergency benefit or the wage subsidy for businesses. When the economy began to rebound after the pandemic, we even said that we should target certain sectors and help Canadians in need, low-income Canadians, vulnerable Canadians. Unfortunately, there was nothing like that in the last budget.
The thing to understand is that the Bloc Québécois does not like to waste money. Sending cheques left and right is not the answer. I think that today's measure is a good one, but it is late in coming. We are not a week or a month late, but five months late. The Minister of Finance spoke at the Empire Club last June, when inflation was raging. The theme of her conference was inflation. She only repeated what she had announced some months before, in the previous budget. There was not a single new measure to fight inflation.
Then, May, June, July, August and September came and went. The government finally woke up. It realized it needed to act. There was inflation. It decided to put meaningful measures in place to help Canadians. The government is now taking measures to support the people who need it, but, unfortunately, once again, it is working backward. We still do not understand why.
The Bloc Québécois believes in supporting the most vulnerable low-income earners. It is particularly concerned about seniors. They are the ones who are hardest hit. We know that. Their fixed income will not increase. We need to help them. They have told me, with great sadness, that they have to choose between going without medication, postponing their rent payments or taking food out of their grocery cart. It is imperative that we help them.
To boost supply, we need to address and resolve the labour shortage. To do that, we need to ensure that there are incentives, tax incentives for example, for experienced workers, particularly those aged 60 or 65 and over who want to stay in the workforce.
One last thing I would like to mention is Bill C‑295, which I introduced in the last Parliament. It was intended to provide a tax credit to attract new graduates to the regions. The population in the regions is aging, and that obviously plays into the labour shortage.
It is never too late to do the right thing, and today we want to give credit where credit is due. For the next time, however, let us remember that an ounce of prevention is worth a pound of cure.
1430 words
All Topics
- Hear!
- Rabble!
- add
- star_border
- share
- Jun/10/22 1:31:02 p.m.
- Watch
Mr. Speaker, to begin, I would like to commend my colleague from Etobicoke North, whose motion we are studying today and who chairs the new Standing Committee on Science and Research. I am the vice-chair of that committee, so I have had the opportunity to work with her over the past few months, and I can say that, while we may not always agree, our interactions have always been very cordial, which is a credit to her.
To come back to the matter at hand, I first want to say that I will be voting in favour of the motion. The Bloc Québécois has long made the living conditions of seniors one of its primary concerns. We deeply believe that every senior deserves a dignified retirement free from financial worry. This is one of our top priorities, and I am proud to say that our actions are a testament to this. I would like to mention a few of the things we have done.
Last year, the Bloc Québécois got a motion passed calling on the House to increase old age security. It bears mentioning that that happened without Liberal support.
On June 2, the Bloc Québécois finalized a petition calling on the government to increase OAS by $110 per month for people 65 and up. I presented a similar petition calling for an OAS raise in the last Parliament. Following a huge campaign involving seniors' groups in my riding and Quebeckers in general, we gathered over 20,000 signatures. I would like to sincerely thank everyone who contributed to that success.
During the 43rd Parliament, my Bloc colleague, the member for Manicouagan, introduced a bill to protect pension funds and group insurance by giving them higher priority in the creditors' list when companies go bankrupt. The bill had the support of all four political parties, but it died on the Order Paper when the election was called. Not to be deterred, we reintroduced it in this Parliament.
I could go on and on, but I will get to the heart of my argument. The important thing to remember is that the Bloc Québécois has been on the front lines of every battle to improve the living conditions of seniors, and we will continue to carry the burden on behalf of those who are too often under-represented in the public debate.
We are therefore not opposed to the federal government undertaking studies on the financial situation of seniors and finding ways to improve it, as suggested in the motion. It is entirely pertinent and legitimate to try to come up with new tools that could be used to help seniors make the most of their financial assets and achieve the best possible standard of living.
However, it is essential that these studies, if undertaken, not be used as an excuse for delaying the urgent action that is desperately needed, given the current situation. Particularly in the last year, seniors' quality of life has deteriorated rapidly throughout Quebec and Canada. The runaway inflation we are experiencing, which shows no sign of abating, has caused prices to skyrocket on things like housing, gas and food, and this trend will eventually extend to all goods and services.
Retired workers in particular are more vulnerable and at risk because they have left the workforce and have no way to increase their income. It is no coincidence that many food banks have reported more retirees using their services. In-depth studies might be useful and constructive, but we already have access to a number of measures that could be implemented immediately and provide guaranteed results, without having to reinvent the wheel.
As the Bloc Québécois has said many times, the top priority is a significant increase to OAS for all seniors 65 and older. It could not be clearer. The government recently increased OAS by 10%, but only for seniors 75 and older. Why is the government ignoring the thousands of seniors aged 65 to 74?
Despite what the Liberals may think, it is false to claim that financial insecurity only hits at age 75. FADOQ, the largest group of people aged 50 and over in the country, shares that view and was offended by this age-based discrimination, which set a dangerous precedent by creating two categories of seniors.
Another measure that would be worth implementing immediately is related to the annual indexation of OAS and GIS. At present, these two benefits are indexed based on the previous year's consumer price index. That means the indexation rate for 2022 is based on the consumer price index for 2021. This corresponds to a 2.7% indexation rate.
In January 2022, however, inflation reached 5.1% in Canada, and it has only continued to increase. Unfortunately for those whose only sources of income are OAS and GIS, they must pay this year's prices for gas, groceries and medications, not last year's.
The result of this shift is that seniors' purchasing power is undermined because the cost of the goods and services they use is going up faster than their pensions. We therefore have to consider whether there is another indexing method that could be applied to OAS and GIS, one that would not erode seniors' purchasing power.
The answer is yes. Many pension advocacy groups suggest basing the indexation of pensions on trends in wages, because they increase faster than the consumer price index. Another calculation method that was developed by the United Kingdom involves increasing benefits yearly to match price increases, wage growth or 2.5%, whichever is highest.
There is no doubt that a study on aging and the financial health of seniors should consider this issue and possibly explore other mechanisms in order to determine which one would best preserve seniors' purchasing power year after year.
Finally, another issue that requires immediate attention is how to retain experienced workers. Since 2014, the active population in Quebec has been shrinking every day as workers retire and are not replaced by the smaller new cohort. Population aging is well under way and will accelerate sharply over the next decade.
That is especially true in my region, the Lower St. Lawrence, which has one of the fastest-aging populations in Quebec. Currently, one in four people in the Lower St. Lawrence region is over 65, and that ratio will increase to one in three within 10 years.
This decrease in the number of workers is also causing a labour shortage that continues to be a headache for employers. At the same time, one in four seniors believes that staying employed is important for staying active, cultivating a sense of usefulness and aging in a healthy way. Why then are most of them leaving the labour market?
It is not out of a lack of interest, but because of disincentives to stay. Pensioners who stay in the labour market have their pensions clawed back when they start earning employment income. We need to address this problem and bring in measures to encourage experienced workers who are willing and able to keep working.
A new tax credit for experienced workers, similar to the one Quebec is offering to help workers aged 60 and over, is worth exploring. An increase to the amount of employment or self-employment income that is exempt from the GIS calculation is also a promising option, as it would allow seniors to earn more annually without having money clawed back from their GIS cheque.
In conclusion, I could never see myself condemning the federal government for doing too much for seniors. The Bloc Québécois will be supporting the Liberal motion, but I would remind our colleagues on the other side of the House that sometimes, it is better to leave well enough alone.
I am certain that the member for Etobicoke North has seniors' well-being at heart. I therefore invite this member of the Liberal Party to stand in solidarity with the Bloc Québécois by supporting our proposals to substantially increase the purchasing power of seniors in our communities. Seniors need allies in the government party.
The government should start by increasing OAS for all seniors at age 65, to allow those who are being hit hard by inflation to breathe a little easier. Only then can we undertake further studies.
1411 words
All Topics
- Hear!
- Rabble!
- add
- star_border
- share
- menumenu
- notificationsnotifications
- home
- mailmail
- searchsearch
