44th Parl. 1st Sess.
November 15, 2022 10:00AM
Madam Speaker, I think if the pandemic has highlighted anything, it certainly shone a light on the health care system across the country. We know the federal government must respect the jurisdiction of the provinces when it comes to health care, and we now know that the cost of servicing the government's debt is going to equal the health transfer payments. That is staggering and astounding. What we need to do right now here in this place is focus on holding the government to account in getting its financial house in order.
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Uqaqtittiji, I am glad the member had a focus on some of the social issues that are being experienced all across Canada. One of the things I like about the bill is the Canada recovery dividend, because it would tax banks and major insurers, but I think the gap in it is that it would not be taxing major corporations that are showing great profits.
I wonder if the member agrees that we also need to make sure major corporations that are showing greater profits are included so that the Canada recovery dividend is greater.
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Madam Speaker, I would point out to the member that the Conservatives did support the NDP's opposition day motion to study possible price gouging by grocery chains and other major retailers during the pandemic. We are definitely concerned with the allegations, and we want to ensure that Canadians are not being taken advantage of. We recognize that the motion called for a study, but what is really grievous is knowing that the member and her party are supporting the government in taking away resources from committees that would probably be tasked with doing the very study they asked for.
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Madam Speaker, I thank my colleague for her excellent speech.
I will start with a number: $1,000. That is how much one mom just paid to fill her heating oil tank for the first time this season. That $1,000 was a big surprise, a huge amount of money for her.
She wrote to me this morning to say that she hopes the winter will not be too harsh, because, at $1,000 a pop, she cannot afford to fill the tank four times, as she usually does every year.
This is not about comparing ourselves to other countries or to what we had in the past. This is not about saying Canada is doing well. This is about making sure everyone knows about this mother, who wrote to me today to say that her bill was $1,000 and that she will probably have to fork out that much cash at least three more times this season if the winter is mild, or maybe five times if the winter is severe.
This mother is desperate. She is also desperate because of the rising price of food. Groceries now cost 11.4% more than last year. That is the overall price of groceries, but looking more closely at the price of meat and essential items, for example, we can see that the price of pasta, which is a staple among students, has increased by 30%. The go-to food for students who do not have much money has just increased by 30%.
That is the reality facing families, students and this mother, who will have to choose between hamburger, pork chops and bologna to feed her family and make sure her children get enough protein. That is the reality.
The reality is also the ever-increasing price of gas. People work and need to drive their car, especially in the regions. Why? Because there is no public transit in the regions. They cannot go to work if they do not have a car. In the regions, jobs are often far from home. People absolutely need a car to get around.
Also, there is winter in Quebec, as in many other regions of Canada. Winter is hard. There are snowstorms, but people still have to drive to work. Their vehicles are a little bigger. They have trucks or SUVs. Unfortunately, the price of gas is rising, and we are hearing more and more from people who wonder how they will be able to get to work. Since they have to get to work, they must make other choices and cut into their food budget. That brings us back to our mother's heartbreaking choice between buying hamburger or bologna to feed her children. With the money that is left after she pays for gas to get to and from work, she will have no other choice but to buy bologna. That is the reality in Canada today.
We asked the government to do something to help families, or at least not to make things worse for them, by January 1. In the economic statement, we were expecting the government to take action and do something, as the hon. member for Carleton and leader of the official opposition requested. We had two very simple requests, starting with the cancellation of the tax increases that are to come into effect on January 1.
The Liberals will say that increasing employment insurance and Canada pension plan contributions is not a tax increase. The result is the same. It is exactly the same thing: The mother I was talking about, who was already having to make difficult choices to pay for heating and groceries, will have a smaller paycheque. She has just been told that on top of all her problems, she will now have a smaller paycheque to pay for everything that costs more.
We expected the Liberals to hear that mother's message instead of including more inflationary spending in the economic statement. It seems that the Liberals have not heard the message, since that mother’s paycheque will unfortunately get smaller as of January 1.
Things will be even worse in some parts of Canada, since several provinces will see an increase in the carbon tax. This will cause this family even more hardship, since absolutely everything will be even more expensive. By tripling the carbon tax, the government is tripling costs for families, who will have less money to pay for gas, food and rent. That is our current reality.
We expected the government to say that it understands that the situation is difficult, that interest rates and food prices are the highest they have been in 40 years, and that it would give Canadians a break.
Well, no, they did not hear the message. When we ask the government ministers questions day after day in question period, they tell us all sorts of things. They tell us that this is a global crisis and that Canada is doing a little better than other countries, and they come up with every imaginable excuse. We are told, for example, that the war in Ukraine is responsible for all this, but we never hear a minister take responsibility for the situation. The government, however, must also look at itself in the mirror and ask what it did to get us where we are today.
To understand this, we have to go back to the election of the Liberal government in 2015. I remember very well that the Prime Minister campaigned on a promise that there would be three tiny deficits, $10 billion the first year, $10 billion the second year and $6 billion the third year, and that we would then return to a balanced budget. Wow. I cannot say that he lied, but I can certainly say that he misled Canadians.
In reality, the deficits were not tiny; on the contrary, they skyrocketed. We are talking about a $100-billion inflationary deficit, even before COVID-19. That is not surprising, given that the Prime Minister stated in his maiden speech that it was the right time to borrow, since interest rates would remain low for decades. At the time, interest rates were 0.5%, 0.25% or 0.75%. The interest rates were very low. The Prime Minister's crystal ball showed him that it was not a problem, he could borrow money and that was the time to do it.
However, members of the House, mainly members of the official opposition, had warned the government that interest rates would go up and make things difficult for families. The government chose to close its eyes and turn a deaf ear. It did not listen and continued to borrow money.
Then the unexpected happened, COVID-19, and another $500 billion was added to the deficit. We would have expected that money to be spent on measures to help Canadians get through the COVID-19 pandemic. However, of that $500 billion, $200 billion was spent on new programs and expenditures that had absolutely nothing to do with COVID-19.
The Minister of Finance's fall economic statement was literally a failure on all counts. We cannot support measures that will just add to the deficit when the government has received $40 billion in new revenue from taxpayers' pockets. Think about the mother I mentioned at the beginning of my speech, who must make difficult choices to pay for her heating and groceries and to get to work.
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Madam Speaker, I know the member spoke about inflation as well. I asked a question of the member for Carlton Trail—Eagle Creek prior to this member about inflation being a global issue, not something that is related just to Canada. I asked her to explain what she thought about that. Her response was that she was not going to trust my opinion on it or take my word for it, and now she is saying that is right.
What I am reciting here is from the OECD. These are well-known, factual stats, not my opinion on what inflation is throughout the world. I cannot believe that we have now gotten to a point where Conservatives are openly saying that inflation throughout the world is just someone's opinion. These are stats. These are facts.
Can the member comment on whether he agrees with the member for Carlton Trail—Eagle Creek that this is my opinion?
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Madam Speaker, I spoke in English and French during my speech, so I was expecting that my colleague was listening to me and to what I said. I was talking about the mother who is struggling to pay for the home heating of her house, for her groceries and for the gasoline that she needs to go to work.
No matter where we stand in the OECD, nothing in this fall economic statement, nothing, helps that mother face that new spending.
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Madam Speaker, I thank my hon. colleague for giving us his perspective.
I would like to ask him this. He brilliantly explained the risks that going in the direction of this bill would pose for Canada, but I would like him to be more specific and tell me whether this bill contains any measures that are good for Quebec. Let us forget about the rest of the country for a moment. What measures does this bill contain that are good for us and what does he think is important?
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Madam Speaker, the main thing I see is the direction the Liberal government is taking with the interest payments on the ballooning debt that we are seeing year after year. Next year or the year after, the government will be paying more in interest than in health transfers for all of the provinces. That greatly reduces the flexibility the government could have had to help the provinces, including Quebec, deal with the current health crisis. I am trying to think of something good in the fall economic statement, but unfortunately, I still cannot figure out how it will improve the lives of Quebeckers.
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Madam Speaker, I have yet to hear Conservatives talk substantially about the record profits that oil and gas companies are making. These companies are literally swimming in piles of cash right now. We have not seen profits like this for years.
I am wondering if my Conservative colleague would like to address the elephant in the room. They complain about high fuel prices but say nothing about record profits. Does he have any comments or policies to address that unfair situation, which is affecting people from coast to coast to coast?
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Madam Speaker, if we are talking about the elephant in the room, why can we not talk about this costly coalition that the government formed with the NDP? This is the elephant in the room. It will cost us $21 billion more in new spending. That is in the fall economic statement. That is the costly coalition's fault, and I think we should talk about the elephant in the room.
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Madam Speaker, what I am hearing in my riding and from people calling in is that they are having trouble with the cost of food. I have mothers who call in and are beside themselves because they cannot decide if they are going to have a family that eats or a family that will have heat on.
I am just wondering if the hon. member is having some of those calls into his office as well.
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Madam Speaker, I am glad to hear that my colleague is also getting those kinds of calls, as are all members of the House. I am convinced that we are all getting these kinds of calls from people who are really struggling.
We were asking the government to do one thing, specifically not to raise taxes for all Canadians on January 1 so that everyone could get a bit of a break. Unfortunately, the government chose to do otherwise.
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Madam Speaker, I will be sharing my time with the member for Davenport.
I am thankful for the opportunity to take part in today's debate on Bill C-32, which introduces measures in the 2022 fall economic statement and key initiatives from budget 2022. The 2022 fall economic statement includes a series of new targeted measures that would help Canada weather the coming global economic slowdown and thrive in the years ahead. They are measures that would deliver good-paying jobs by seizing the opportunities of the net-zero economy, by attracting new private investment and by providing key resources to the world.
The next few years offer a historic opportunity for Canada. It is a time when we can continue building an economy that works for everyone and create the good middle-class jobs that Canadians will count on for generations to come. However, if we are to capitalize on the opportunities before us in the years to come, we need to step up and make more smart investments today.
Today, I would like to speak to a measure in the 2022 fall economic statement and Bill C-32 that would grow Canada's economy, create opportunities for workers and continue to address Canada's challenge with investment and productivity that has stretched back for decades.
Our government knows we are at a pivotal moment. The climate crisis is more urgent than ever. Canada is already experiencing an increase in heat waves, wildfires and heavy storms. These impacts and the economic and health repercussions that come with them will continue to accelerate if we do not act now.
We know that climate change is real and the path forward is clear. To protect our planet and build a stronger economy, we must do even more on climate action. Over the past six years, the federal government has taken important steps to position Canada at the forefront of the fight against climate change while also working to seize the economic opportunities provided by the global transition to net zero.
Canada's commitment to putting a price on pollution has provided an incentive for businesses and households to pollute less, conserve energy and invest in low-carbon technologies and services. However, it is clear that Canada will need to do even more to secure our competitive advantage and continue creating opportunities for Canadian workers. This challenge has become even more pressing with the recent passage in the United States of the Inflation Reduction Act, the IRA.
Since 2015, the government has been making foundational investments in clean technology, which the U.S. is doing now with the IRA. We welcome the U.S. legislation as it will play an important, pivotal role in the global fight against climate change and will further accelerate the building of sustainable North American supply chains. More importantly, the IRA's build North American policy for critical minerals and electric vehicle tax credits are also good news for Canadian workers and Canadian companies.
While the IRA will undoubtedly accelerate the ongoing transition to a net-zero North American economy, it also offers enormous financial supports to firms that locate their production in the United States, from electric vehicle battery production, to hydrogen, to biofuels and beyond. Without new measures to keep pace with the IRA, Canada risks being left behind.
As a first step in Canada's response, the government is launching the Canada growth fund, which will help to attract billions of dollars in new private capital to create good-paying jobs and support Canada's economic transformation, as well as bringing forward two new measures to support the adoption of clean technology across Canada. Today's legislation would authorize the Minister of Finance to requisition up to $2 billion from the consolidated revenue fund in order to provide an initial capitalization to the Canada growth fund. The legislation would enable the minister to purchase non-voting shares in the corporation in exchange for capital.
Canada's road to achieving our climate targets, creating and maintaining good-paying jobs and building a net-zero economy that works for everyone will require the transformation of our industrial base, specifically the commercialization and deployment of low-carbon technologies and resources and the continued growth of clean technology businesses across Canada.
We have an opportunity to lead the way on the road to net zero and ensure that Canadian workers can benefit from good jobs for decades to come. However, this will require investment on a scale that government alone cannot provide. There are trillions of dollars in private capital waiting to be spent on creating the good jobs and prosperity for workers that a net-zero economy will bring. Canada is competing with other countries to attract the private investment we need.
To succeed, Canada needs to address two challenges. First, we need to incentivize companies to take risks and invest in cutting-edge technology in Canada. Second, we need to keep pace with a growing list of jurisdictions that are using public financing to attract private capital and create the jobs and prosperity for workers that accompany it, from the United States to the European Union and beyond.
In budget 2022, we announced the government's intention to create a Canada growth fund that will help attract private capital to invest in building a thriving, sustainable Canadian economy with thousands of new, good-paying jobs. It will also help Canada keep pace with a growing list of jurisdictions that are using innovative public funding tools to attract the significant private capital required to accelerate the deployment of technologies required to decarbonize and grow their economies.
Since Canada's economic prosperity has traditionally been built on natural resources and other emissions-intensive industries, a substantial transformation of our industrial base will be required to meet our climate targets and ensure long-term prosperity for Canadians and the Canadian economy.
Canada needs to build the technology, infrastructure and businesses to reduce our carbon reliance, but this will not occur without rapidly increasing and then sustaining private investment in activities and sectors that will strengthen Canada's position as a leading low-carbon economy.
Today, while companies and investors are aware of opportunities to commercialize and deploy emissions-reduction technologies, they are often restrained due to investment risks that are frequently associated with these investment opportunities. That is why the fund is designed to invest in a manner that mitigates the risks that currently limit private investment and unlock the domestic and foreign capital that Canada needs now.
The 2022 fall economic statement outlines the design, operation and investment strategy of the growth fund. The mandate of the growth fund will be to make investments that attract substantial private sector investment in Canadian businesses and projects to help seize the opportunities provided by a net-zero economy.
This includes investments that will help reduce emissions and achieve Canada's climate targets; accelerate the deployment of key technologies, such as low-carbon hydrogen and carbon capture, utilization and storage; scale up companies that will create jobs, drive productivity and clean growth, and encourage the retention of intellectual property in Canada; and capitalize on Canada's abundance of natural resources and strengthen critical supply chains to secure Canada's future economic and environmental well-being.
In the challenging economic landscape that Canada and the world are contending with, there is no country better placed than Canada to weather the coming global economic slowdown. The measures in Bill C-32, such as the Canada growth fund, will build on actions the government has taken to make sure that Canadians and the Canadian economy come through this challenging economic period as quickly as possible, and that we are ready to thrive when we do.
I encourage all members of the House to support this legislation.
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Mr. Speaker, I listened to my colleague in the House and I sit in committee with the member as well. I often think he is reading off a page because so much of what he says is dissonant with reality.
He is now talking about a Canada growth fund on top of the Canada Infrastructure Bank. The financial incentive systems, which are built throughout the government to foster investment in Canada, throw money at a wall on some of these technologies that are not going anywhere. The Liberals continue to risk taxpayers' money.
In the time the government has been in power, hundreds of billions of dollars of foreign investment and Canadian investment has left the Canadian economy. The government is now trying to backfill it with more Canadian government money and it is putting a finger in the dike. The government has caused an investment climate that is destroying foreign investment and all investment in Canada.
Can he get to the root of the problem, undo some of the destructive policies and not throw more government money at a wall?
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Mr. Speaker, I always enjoy the hon. member's interventions at the environment standing committee.
I think the hon. member should give his head a shake. We have invested $9.1 billion in the emissions reduction plan. I know that many of his colleagues in Alberta are very supportive of our plans. The oil patch has embraced net zero by 2050. It is working closely with us. We will be capping oil and gas emissions, working with the oil patch. We are investing in carbon capture, which I know the hon. member supports.
The clean technology market is worth $2.5 trillion. It will be worth $80 billion in Canada in just a few years. We have to get on that train. Unfortunately, the hon. member will be left at the stop.
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Mr. Speaker, whenever I hear my Liberal friends talk about the environment, I feel like I am in an episode of The Twilight Zone. I feel like we are not in the same room, not watching the same movie, or not listening to the same story. It is ridiculous.
Last week, in the context of COP27, we learned that Canada is still investing $8.5 billion U.S. a year in fossil fuels. For that reason alone, we should be denouncing the government every day. We learned another exciting little fact. Canada is the worst country in the G20 when it comes to average greenhouse gas emissions per capita. Furthermore, Canada is the only G7 country whose greenhouse gas emissions have increased since the Paris Agreement, in other words, since the Liberals started sitting on that side. They make grand speeches, saying that they are green and they support the green transition. However, Canada is the worst country in the G7 and the second worst in the G20 for investment in fossil fuels. Clearly, we are not talking about the same thing.
What is the Liberal plan to deal with these issues?
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Mr. Speaker, I rise on a point of order. I am just curious; I do not think we have quorum in the House at the moment.
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- Nov/15/22 12:11:23 p.m.
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Let me ask the Table to do a count.
And the count having been taken:
The Deputy Speaker: We have quorum.
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Mr. Speaker, I rise on the same point of order. There is only one Conservative in the House. Does that matter with respect to the quorum count?
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- Nov/15/22 12:11:47 p.m.
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That is part of the debate we are having. I believe we have quorum, and I said that, so thank you for that intervention.
Questions and comments. I believe the parliamentary secretary was just finishing up his thought or going to be responding to the question.
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