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House Hansard - 245

44th Parl. 1st Sess.
November 2, 2023 10:00AM
Context: House Hansard - 245 - Nov/2/23
Mr. Mike Morrice (Kitchener Centre, GP)
  • Nov/2/23 11:41:09 a.m.
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Mr. Speaker, as we get into this debate again, I am seeing the same omission we always see, and I will note it is particularly from our Conservative colleagues. Yes, the price on pollution, the carbon tax, went up 2¢ a litre in the last year, but it is corporate profits of the oil and gas industry that went up 18¢ a litre. There is never a word about those. In fact, when we talk about inflation, 47¢ of every dollar of inflation is directly attributed to massive increases in corporate profits. If we are going to have an honest conversation in this place about addressing affordability for Canadians, we need to talk about where inflation is directly coming from. We have had a number of conversations over the past week on this topic. I would be curious to hear more from the member for Kings—Hants on his view on addressing this by putting in place a windfall profit tax on these excess profits of the oil and gas industry that are gouging Canadians at the pumps in the midst of a climate crisis.
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Context: House Hansard - 245 - Nov/2/23
Hon. Steven Guilbeault (Minister of Environment and Climate Change, Lib.)
  • Nov/2/23 3:03:39 p.m.
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Mr. Speaker, I would like to correct something that was said in the House earlier this week. The Governor of the Bank of Canada said that, each year, carbon pricing contributes 0.15% to inflation, an effect he describes as “quite small” from one year to the next. This idea that carbon pricing raises the price of everything is a myth, and the Governor of the Bank of Canada says as much.
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Context: House Hansard - 245 - Nov/2/23
Ms. Rachel Bendayan (Parliamentary Secretary to the Deputy Prime Minister and Minister of Finance, Lib.)
  • Nov/2/23 3:05:03 p.m.
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Mr. Speaker, it is surprising to see the Conservatives quoting the Governor of the Bank of Canada when they are campaigning to fire him. However, this week, the governor confirmed that carbon pricing contributes only 0.15% to inflation and that reducing carbon pricing will have no long-term effect on inflation beyond this initial reduction. That is what the Governor of the Bank of Canada said.
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