44th Parl. 1st Sess.
March 21, 2022 11:00AM
- Mar/21/22 12:52:43 p.m.
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Madam Speaker, I listened to the entire speech by my colleague across the way and he seemed to focus on what I believe to be a misconception that has been continually floated around by Conservatives since Reaganism. That is this idea that if taxes are increased on the wealthy, they are somehow going to migrate away to other locations that have lower taxes. It is a very well talked about idea and concept. However, there is very little data that supports that it happens in practicality.
I am wondering if the member can cite any data, any study or any conclusive review that indicates that it actually happens. I am willing to admit I am wrong if I am missing something, but I have never been able to find that when I look for actual data to support that claim.
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- Mar/21/22 2:29:13 p.m.
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Mr. Speaker, Canadians reeling from the pandemic are having a hard time making ends meet. From groceries to transportation, housing, corporate profits and CEO bonuses, everything is increasing except income and pensions. Canadians are frustrated with this rigged economy. The rich are getting richer and Canadians are paying the price. The NDP has a solution: Tax the rich. Tax the banks and use that money to offer relief to Canadians.
Will the government continue to stand with wealthy CEOs, or will it finally take action in support of Canadians who are struggling right now?
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- Mar/21/22 3:51:37 p.m.
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Madam Speaker, we know that in 2018, the amount of money laundering was estimated at $5.3 billion just in British Columbia, my home province, through the real estate sector. We know that money laundering through home purchases is putting an upward pressure on prices. I think we can all agree on that.
We need to see the Liberal government implementing transparency tools that discourage money laundering by criminals and the wealthy at a pace that is much quicker than what we are seeing today. That is why we are putting forward in this motion the need for a beneficial ownership registry that creates a means for us to shine a light on the assets and properties that are owned and may be otherwise hidden by shell companies. I am in agreement that we need to do all we can to move forward.
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- Mar/21/22 4:04:41 p.m.
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Madam Speaker, it has been scientifically proven that prosperity gaps have been increasing steadily over the past few decades. Many economists concur.
Does my hon. colleague not think the government should do more to go after wealthy companies and make them pay more, in order to help the most vulnerable? Does she agree that this motion makes sense and is entirely valid?
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- Mar/21/22 4:25:13 p.m.
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Madam Speaker, I will be sharing my time today with the amazing member for Cowichan—Malahat—Langford.
We are here today to talk about an NDP motion that really addresses the key issue of where the bar of dignity is in this country we all belong to. What we are seeing across this country is more and more people falling below it. Members may ask what I mean by the bar of dignity. To me, it means that one has the ability to look after themselves, to have a roof over their head, to be able to feed themselves, to be able to afford the medication they need and to be able to access those basic things that we all deserve to be a part of because we are all Canadians and because we live in a wealthy country that should be looking after all the people who live in it. Right now, we are in another government, another federal government, which passes hands between the Liberals and Conservatives, that continues to take that bar of dignity and lower it and lower it.
We have heard from some of our Liberal friends here today that there are some great economic outcomes. There are more jobs and there are more opportunities. However, when we talk to everyday people who are living through that experience right now, what we see very clearly is that a lot of those folks are working three or four of those jobs trying to make ends meet. We are talking about families who do not get to spend time together as a family because both working parents have to juggle all of those factors. We need to look at this in what we are seeing people do and see where their needs are.
I cannot help but touch on housing. In my riding of North Island—Powell River, we have seen a huge increase in the cost of living. That is largely based around a housing market that has exploded. Parts of my riding, some of the most rural and remote communities, have seen the cost of housing go up between 60% and 80%. That means that people who are living within those communities cannot afford to purchase within their own community.
It has also had a huge impact on people who were renting homes. With the market exploding this way, we are seeing a lot of people who own houses that they usually rent out are selling those houses because they are making a lot of money in doing so. This means more and more people are unhoused.
Just the other day, we had a gentleman walk into our office. My staff were quick to tell me when I came back. It was a gentleman who lives on disability. He has been living in his apartment for many, many years and has just been told that he has to leave because a new person bought the home that has the rental unit he lives in. His reality, and it is the truth because I have heard it from so many people across my riding, is there is nowhere else for him to go. There is no affordable unit for him.
When I hear that the government is giving money to private corporations that are charging rents that are 30% to 120% higher than the market rate, it just tells us this is not a project or program that the government is taking seriously. It is not about making sure the people who are unhoused, who are struggling, who do not know how they are going to live from day to day are going to be able to have an affordable home to live in. It is about priorities, and that is what this motion is about in this House. It is about saying that the people who work hard every day deserve to be treated with dignity.
I think about these challenges. I have talked to a lot of professionals who have lost their rental units simply because they have been sold from underneath them. They are now living in trailers hoping that trailer parks will not just stay open during the normal summer, spring and fall months, but that they will stay open the whole year, just so they have somewhere safe to live.
I also think about the many seniors who had the GIS clawed back. They were contacting our office. They are very grateful they are seeing those dollars come back to them, but in a lot of cases, they have already lost their home and have already lost where they live. Now, because the cost of living is going up so much and because the cost of rentals are going up so much, they have nowhere to live.
Just the other day I was at Kwesa Place, which is a place in Campbell River that provides showers and laundry facilities for those who are unhoused. When I was there, I met a lot of folks who are just struggling to get by, who are really challenged for multiple reasons.
One of the things that was most startling to me was that inside that space they have a project they are working on. They are building wooden structures that people would be able to pull, either on their own or with a bike, that they can live in, because there is nowhere else for them to live.
I really respect solutions. I really respect when communities come together, look at some of these issues and create solutions, but this tells me we are still not seeing a federal government that sees the right to housing as a basic human right. The government is saying that it is okay for people to scrounge around to make a few thousand dollars and build a wooden box to live in, so they do not get cold in a rainstorm.
As such, I appreciate what Kwesa Place is doing. I really appreciate the warmth it brings and how it helps people be able to wash their laundry, but I want the bar of dignity in this country to be higher. That is what this motion is about.
I have also had some conversation with food banks in my riding. We have talked about the huge numbers of people who are coming through and continue to come through. They are people who have never had to use the food bank before. People who are working hard every day and making a decent income are having to come to the food banks because they cannot afford not to. Why is the government continuing to allow the bar of dignity for Canadians to go so far down?
What I find the most frustrating is that often in these big moments of discussion about how to make the world a better place, I see people fighting one another and people mad because one group of people has one right and another group of people has another right. I think it is important for all of us, as Canadians, to come together and ask what the real issue is here. The real issue here is that wealth is being held by very few in this country, and every year we are seeing their piece of the pie grow larger and everybody else's grow smaller, so I really encourage Canadians to stop fighting about their small piece of the pie and other people's small pieces of the pie.
Let us start talking about what really needs to happen, which is leadership from the federal government to say that, if someone is going to make enormous profits, they need to step up and pay their fair share. I can tell members that the people in my riding, whether they work in the fishing industry, the logging industry, or in education or tourism, are paying their fair share every single day. They care about their communities every single day, but there are those in this country who are not paying their fair share.
I just want to let my constituents know that in 2021, Scotiabank had a net profit of over $10 billion. It paid $4.3 billion of those billions of dollars in dividends to the shareholders, and at the same time it increased its customers' banking fees. Then we saw that BMO made a net profit of $7.7 billion and paid out over $2.7 billion in dividends, while increasing the fees for its customers' bank accounts.
We can look at Loblaws, owned by the very wealthy Weston family, which made a net profit of $1.9 billion. They paid $484 million in dividends to their shareholders. However, they refused to increase the wages of their workers. They refused to supplement those frontline workers who have been working on the front line during this pandemic and who continue to work on the front line. They are at higher risk of contracting COVID-19.
Really, today we are here to talk about fairness, to take up that space and make this country a little fairer. Let us look at this motion. It would direct the Liberals to fulfill their campaign promise. This is perhaps a bit of a new thing for them, but something I am really hopeful they will follow through with. They said they would implement a 3% surtax on banks and insurance companies with net profits over $1 billion.
We also want to see it extended to oil companies and large grocery chains with net profits over $1 billion because it is time for a government in this country to finally stand up, stop protecting excess corporate profits and start saying the bar of dignity in this country needs to be higher.
We should not have seniors at the bottom grovelling for the things they need, when they built this country. We should not be asking families to put groceries back on the shelves because they cannot afford them. Hopefully we will see some action on this.
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- Mar/21/22 4:55:37 p.m.
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Madam Speaker, I will point my colleague to what we laid out in our platform. What it really came down to was a 1% tax on fortunes of over $10 million. If one is wealthy enough to own $10 million, that 1% tax on any wealth over and above that, we feel, is a small price to pay and one that is very affordable to people who are in that category. Having that money to reinvest in communities would make a massive difference to working families in my riding and I believe his as well.
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