44th Parl. 1st Sess.
November 21, 2023 10:00AM
- Nov/21/23 2:39:31 p.m.
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Mr. Speaker, as the Prime Minister stated just a few moments ago, the Deputy Prime Minister and Minister of Finance will be tabling the fall economic statement at 4 p.m. in this House. All members, including the member opposite, will have a chance to look at all the numbers, and we will have a chance in this House to debate the economic plan our government has put forward.
I would remind the member opposite, as he talks of deficits, that Canada continues to have the lowest deficit among all G7 countries. We will continue to be fiscally responsible.
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- Nov/21/23 3:00:33 p.m.
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Mr. Speaker, with all due respect, I have a reality check for my colleague. The economic situation is such that a 30-year-old man from Sherbrooke has to resort to spending the winter in a tent because he does not have access to affordable housing.
The costly Bloc-Liberal coalition wants to drastically increase the carbon tax, and that makes everything more expensive. Voting for the Bloc Québécois is costly.
Today, we want the government to do three things in the mini-budget: cancel carbon tax increases, balance the budget and build housing without bureaucracy. Will the Minister of Finance surprise us and balance the budget, or will she disappoint us once again?
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- Nov/21/23 4:25:50 p.m.
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I thank the hon. member from Elmwood—Transcona. We are in a period of questions and comments. There are 10 minutes for questions and comments, and I am hoping that the hon. Leader of the Opposition will come to his question so that we have an equal amount of time for the Minister of Finance to respond. Also, I know there are finance critics from each of the parties who would like to ask questions and make comments.
I hope the hon. Leader of the Opposition comes to his question soon.
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- Nov/21/23 4:28:36 p.m.
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Mr. Speaker, the measures that the Bloc Québécois called for and wanted to see in this economic statement had one thing in common: the word “urgent”.
We asked for more money for seniors who are suffering because of the rising cost of living. We asked for a one-year extension for CEBA repayment. Unfortunately, all we got for the 200,000 SMEs that are in crisis and asking for a one-year extension is a single page out of 130. That is next to nothing.
We asked for money for businesses and seniors, as well as for people experiencing homelessness. We asked for an emergency fund for people who are preparing to spend winter on the streets.
I have one question for the Minister of Finance. What is her definition of the word “urgent”? Clearly it is not the same as ours.
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- Nov/21/23 4:33:09 p.m.
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Mr. Speaker, I appreciate that the finance minister recognizes we are in a climate crisis. At the same time, she needs to know that oil and gas companies are gouging Canadians at the pumps, as 47¢ of every dollar of inflation is from corporate profits.
Why would they not apply the Canada recovery dividend, which they already did to banks and life insurance, to big oil in the fall economic statement?
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Mr. Speaker, I thank my colleague from the Standing Committee on Finance. We just spent the last week touring western Canada. We visited every region to hear from people. All the organizations, the chambers of commerce, the organizations representing SMEs are asking for the deadline to be extended by one year. It is the same in Quebec. We hear it everywhere.
When we speak with the ministers individually, most of them agree with this call. Most of them do not understand the Minister of Finance's reaction. That is what is throwing a wrench in the works. The Minister of Finance and senior civil servants are saying that it is going to be expensive.
We have been leading the charge for quite some time. We just want to be the voice of the SMEs we represent. We were ready to negotiate with the government. For example, if the government wants Bill C‑56 to pass, in exchange, we would like the government to extend the deadline by a year. With all due respect, we wish the NDP had followed our lead. I hope they keep this example in mind so that, in future negotiations, they can ask for this in exchange. It would be a big win for SMEs. It would mean 20% fewer bankruptcies, according to figures from the Canadian Federation of Independent Business. It would make a big difference.
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- Nov/21/23 5:35:59 p.m.
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Mr. Speaker, I thank my House leader for making this point again. This is basic economics. Are there any economists in the Liberal Party? Do they understand these notions? The government often gives the impression of nickel-and-diming, but by trying to save the grant part of the loan, it could cause so many bankruptcies and have such a wide-ranging impact that it could end up being more detrimental to society and the government's finances.
When we discuss this informally with ministers, most of them agree with us. The problem is with the Minister of Finance. In that regard, I want to highlight the great work by my colleague from Terrebonne, who wrote the finance minister to make her aware of this. She also reminded her that the Quebec National Assembly unanimously demanded a one-year extension of the loan repayment deadline on September 26, well before this November economic statement that the minister just presented.
Why are elected officials of all stripes in Quebec City asking for this? It is because they are just that little bit more connected to their community. They talk to their SMEs, they meet with them and they are worried about them. Like us, they are able to do the math and come to the conclusion that, even if the aim is to save a little money, there is a risk of losing a lot more in the end. Moreover, it will destabilize the economy. Really, the economic statement was the place for this kind of announcement. This is another missed opportunity, another disappointment. It is more proof that this government has grown out of touch, very out of touch, with the people and with SMEs.
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