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Decentralized Democracy

House Hansard - 304

44th Parl. 1st Sess.
April 29, 2024 11:00AM
Context: House Hansard - 304 - Apr/29/24
Mr. Ryan Williams (Bay of Quinte, CPC)
  • Apr/29/24 4:07:24 p.m.
  • Watch
  • Re: Bill C-59 
Madam Speaker, I am happy to come back to this debate. I was debating the battle for the soul of Canada, a battle between, on one side, the left and NDP-Liberal socialism, with its spending problem approach, high crime rates, divided division, high taxation and an unproductive monopolistic economy and, on the other side, the vision for a common-sense Conservative economy, where government is leaner, taxes are lower, paycheques are better and competition thrives. Of course, we also talk about democracy. Democracy works when there is public trust and good fiscal stewardship. We are trying to make the lives of Canadians even better. Canadians enjoyed a good life in the middle class nine years ago. Canadians, young and old, now see the truth after nine years. They see, now, a government that is, instead of working hard for the middle class and those looking to join it, shutting the door to the middle class and those very Canadians it promised help to nine years ago. To top it all off, we have a monopoly problem and more pain, where people are paying higher fees for airlines, groceries, banking and cell phones. The government approved, mere months ago, the merger of RBC and HSBC, which was the number one bank buying the number seven bank. One can already see the costs of mergers and acquisitions to those Canadians and to all Canadians across Canada. The five-year variable for HSBC, before the merger, was 6.4%. Now, after the merger, just today, that variable rate is at 7.2% under RBC, meaning that, if those mortgage holders had a $500,000 mortgage, which is pretty low for Canada, they are now paying over $333 a month. The monopoly problem means that we have less competition, and it means that Canadians are paying higher rates. When we look at open banking as a solution for our problem with banking, we do not get the legislation promised out of this budget. Just like a caterpillar, it says that it is coming soon. The reality is that legislation on open banking would bring savings to Canadians. In the U.K., introducing open banking brought $400 per family, yet this legislation would just kick it down the road once again, six years after the government promised to introduce it. Another one, called real-time rail, which would bring modern payments and make payments faster between Canadians, has been delayed, deferred and postponed. There have been no new announcements on grocery prices. The government says that it has done enough with Bill C-59. Of course, Canadians have the highest grocery prices in a whole generation and are buying less food. We have false statements about halving phone bills. The Prime Minister said that he would halve phone bills. Canadians are paying more and specifically more for data, as Canadians consume more data, especially for doorbell cams, as they are seeing increases of auto theft and they have to monitor their cars. Canadians are using data. Companies, of course, are profiting from that. Canadians, instead, are broke because capitalism without competition is not capitalism, where prices are freely negotiated. We do not have competition in this monopoly-centred Canada and, what is worse, the budget aims to tax those who stay. Canadians in Canada are broke, but it does not have to be that way. The state has no money other than the money people earn themselves. If the state wants to spend more, it is only by borrowing from one's savings or taxing one more. In contrast, Conservatives champion the principles of individual responsibility and limited government, greater revenues and growth. We would have a dollar-for-dollar rule. For every dollar we spend, we must find a dollar in savings, just like a family does. As Canadians, we must have the conviction to embrace the principles of that conservatism, to reject the false promises of Liberal-NDP socialism and to defend the values of freedom, opportunity and prosperity. We would fix the budget, build the homes and axe the tax, and we would make sure that we bring Canadians home a capitalist government that would bring home their paycheque and bring back the middle class.
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