44th Parl. 1st Sess.
May 1, 2024 02:00PM
- May/1/24 5:21:54 p.m.
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Mr. Speaker, I am thankful for the opportunity to speak on behalf of my constituents of Sackville—Preston—Chezzetcook on this very important budget.
The thing I want people to concentrate on is that this budget is a fairness to every generation, and it is a focused one. Before one can put a strong budget in place, one needs to have a strong economy. That is what it is all about. Right now, the economy in Canada is doing much better than most economies across the world.
First of all, our inflation rate is down to about 3%, which is in the target range of the Bank of Canada, which is very important. We have dropped that from 8.2% down to 3%.
Also very important is that we have the AAA rating, and we are one of two countries in the G7 to have that. That is another solid ground footing we have.
We also have an unemployment rate ranging around 5.4% or 5.5%, which is among the lowest ever in the history of Canada. That is, again, very impressive.
The International Monetary Fund is also indicating that Canada's net debt-to-GDP ratio remains among the lowest in the G7.
Those make up the main foundation of why we can have a budget that would be fair to every generation. It is also why we are able to invest in a transformative enhancement of our social safety net, which is really important, and it is something I really care about, making sure the gap is tighter for Canadians. It is also why we are attracting the highest per capita foreign direct investment in the G7, and we are third in the world. These are very impressive numbers.
Let us talk about homes. Yes, we do have a crisis with homes, and every level of government has some responsibility behind that. The former Conservative government said that it did not have any responsibility for that, but it does. It is a partnership, and we need to work together. I am proud that there is going to be almost four million, believe it or not, homes built by 2031. When I say four million, I am not talking about four million people; I am talking about four million families, which is really what is important.
Some of the initiatives we started are going to be topped up and expanded. Let us talk about the rapid housing, the accelerator fund, the removal of the GST and the innovative modular homes. Those are key. We are also now looking at Canada Lands to make sure that we can access those lands and that some contractors or investors can lease the lands, so we can get more homes built. We are talking about 250,000 more homes, as we move forward, by 2031.
We are also looking at investing with universities, with student residences, which would allow us to get students from apartments and condos into residences. That would help us with the housing challenge.
Also, there is our investment in various organizations on the ground, working to prevent and to reduce homelessness and encampments. This is a co-shared investment with all levels of government, where we will see renovations and see more shelters and transition homes being built.
Those are some key issues under housing that are so important.
I also want to talk about our focus on youth. First-time homebuyers would have access to 30-year amortizations, which would be very helpful. Also, we know already that 750,000 young people have opened a tax-free account for first-time homebuyers. That is very impressive.
Kevin Lee, CEO of the Canadian Home Builders' Association, stated, “The Canadian Home Builders’ Association (CHBA) and our members are very pleased to see the federal budget measures that will help the sector respond to the government’s goal of doubling housing starts to overcome the housing [crisis].”
I am confident that, in the very near future, we are going to see vacancies as we move forward.
The third piece of my speech, which is so important, is a stronger social safety net and closing the gap. I am proud of that, and I will share some of the key items I am very proud of. One, in 2023, we added $200 billion to the health accord, but now we are talking about a new disability benefit, with up to $6.1 billion over three years that is going to help over 600,000 Canadians with disabilities.
Also very important is pharmacare. We are initiating the first phase of pharmacare, and we are going to see big support for women and people living with diabetes. When I go to the pharmacist, she often tells me, “You have to help people with diabetes, because it is costing them too much money.” Well, we are coming forward on that one today.
On the dental care plan, nine million Canadians will have access to it. It is very important. We have it for seniors now, and we are running it for people with disabilities and young people 18 and under.
There is also the expansion of spaces in day cares. We have dropped the cost of day care. My daughters were paying $1,800 a month, and it is going to be down to $10 a day very soon in Nova Scotia. This is helping with affordability, which is really important as well.
The final one, which I am very proud of as a former educator, is that we are launching the new national school food program, which will help over 400,000 young Canadians.
Under safer and healthier communities, there are two areas I want to touch on. One is recognizing the volunteer firefighters and search and rescue individuals by doubling the tax credit. These individuals are doing exceptional and dangerous work. They are supporting Canadians every day. We need to recognize them, and this is the first step. Also, for rural health and social services workers, we are looking at making amendments, which is very important to attract more people into rural communities. How are we going to do that? We are going look at adapting and adjusting the Canada student loan forgiveness program, which will attract key people in key areas, for example dentists, pharmacists, midwives, teachers, social workers and psychologists. I could go on and on. This will bring positive change.
How are we helping the small and medium-sized businesses? Again, we are helping them in many ways. The Canadian entrepreneurs’ incentive will have a combined exemption of at least $3.25 million when selling all or part of a business, which is very much a supportive investment for small businesses. We will also have the lifetime capital gains exemption increased from $1 million to $1.25 million, which is tax-free for the sale of small business shares and farming and fishing property. These are key areas in supporting small businesses. We are also boosting government procurement for small and medium-sized businesses, which will have access to those contracts that are so important.
To conclude, this is a balanced budget and a balanced approach. We are investing in Canadians and also ensuring that we are not overspending.
I will finish with something from Deloitte, which speaks about this budget. It reads:
Budget 2024 attempts to navigate a fine line: invest enough to have an impact on key priorities, from housing, social programs, and affordability to growth and good jobs, while maintaining sufficient fiscal discipline to adhere to fiscal guardrails and support the continued easing of inflation.
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- May/1/24 5:30:46 p.m.
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Madam Speaker, I appreciate my colleague's question, but I am not sure I captured the beginning of it.
However, this budget will have about $40-billion deficit. The focus is on maintaining, but we are continuing to invest in new programs, yet drawing in enough revenue so that the deficit will not be as high as predicted. We are now moving downwards on the deficit.
We will continue to do our work, and we will be there for Canadians. I talked about young people and people with disabilities, and we will continue to support—
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- May/1/24 5:32:15 p.m.
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Madam Speaker, I believe it will be expanded, because this situation exists everywhere, not just in urban centres. We will need to do a little more, but the investments that we have made to work with organizations on the ground will help us overcome this challenge.
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- May/1/24 5:33:18 p.m.
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Madam Speaker, I will share with my colleague that I am no longer the parliamentary secretary for Veterans Affairs. I am the Parliamentary Secretary to the Minister of Rural Economic Development. However, my heart and soul are still in supporting veterans.
This, of course, is a new initiative. My understanding of Canada lands is that we will have a drawing of all the vacant lands that belong to the federal government and conversations will be had. I believe the first step would be to speak with the minister about the possibility and identify that land, because that is exactly what we want. We want various people from the municipality and the province, or any member of Parliament, to share where they feel this would be appropriate and have those discussions so we can move forward very quickly. By 2031, we want to have 250,000 homes built.
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- May/1/24 5:34:44 p.m.
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Madam Speaker, I stated in my speech how proud I was, as a member of Parliament representing my constituency but also representing Canada, of the investment in making our social safety net even stronger: supporting people with disabilities, who are the most impoverished; bringing in the first phase of the pharmacare program, which is extremely important; bringing in dental care that nine million people will have access to; talking about more spaces for kids in day cares, which is extremely important, and the national school food program.
These are major, fundamental investments in our country, and I am so proud of our government for moving forward on them.
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- May/1/24 7:33:47 p.m.
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Madam Speaker, in recent years, climate change has had unprecedented effects on Canadians and people globally. Impacts from climate change are wide-ranging, affecting our homes, cost of living, infrastructure, health and safety, the economy and economic activities in our communities right across Canada and across the world. That is why Canadians demand real action on climate change.
Canada has a strong climate plan. We released the 2030 emissions reduction plan, which describes in detail the many actions we are taking to support the global efforts to combat climate change and to meet Canada's 2030 emissions reduction targets.
Carbon pricing is a central pillar of the plan. As Canada's approach, carbon pricing reduces pollution at the lowest overall cost to businesses and consumers. It provides an incentive for climate action and clean innovation while allowing businesses and households to decide for themselves how best to reduce climate emissions. Giving back proceeds via the Canada carbon rebate keeps life affordable in the meantime.
Putting a price on carbon pollution works. It is unfortunate that, once again, we are hearing misinformation from the opposition on carbon pricing. As any economist would tell us, and as over 300 economists wrote recently in an open letter, people respond to prices. If something is more expensive, then individuals and businesses innovate to find ways to use less, while keeping the same quality of life and competitiveness.
This is just common sense and Economics 101. I would like to remind my colleague that study after study has shown that carbon pricing works. Five studies of carbon pricing in B.C. alone, when it was at much lower levels, showed a reduction of 5% to 15% in gasoline use. Dozens of studies on carbon pricing right across the world show similar reductions that increase as the price increases.
Of course, we are measuring the impact of carbon pollution pricing right here in Canada. Our most recent estimates are that it allowed us to avoid 18 million tonnes of emissions between 2019 and 2021 and that it is on track to deliver about one-third of the more than 200 million tonnes of emission reductions we are targeting by 2030.
Let us not be nearsighted. Canadians want climate change and climate action, and the government owes it to them to be responsible and to use policies that will allow us to be effective and yet cost-efficient. Our approach ensures that Canadians are well placed to benefit from the opportunities created by the global transition that is under way.
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- May/1/24 7:38:19 p.m.
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Madam Speaker, the Canada carbon rebate returns fuel charge proceeds to Canadian residents through direct deposit and cheques. I want to remind my colleague that, every three months, he is receiving that cheque and that eight out of 10 Canadians are making more than what they are spending. The remaining proceeds return to indigenous governments and small and medium-sized businesses through other programs.
As Canada's approach, carbon pricing reduces pollution at a lower overall cost to businesses and consumers. Eight out of 10 households receive more money back through the Canada carbon rebate than they pay toward the fuel charge.
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- May/1/24 7:43:18 p.m.
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Madam Speaker, farmers are the backbone of our country. Their work is difficult, especially with climate change impacts heavily affecting their livelihoods. They face climate change's harsh realities. Drought, wildfires, floods and invasive species are all becoming more prevalent.
Most Canadians recognize what the Governor of the Bank of Canada has recognized: that putting a price on pollution is not contributing to inflation. The real cause of energy and grocery cost increases is not the price on pollution. It is driven by world market forces such as the massive supply chain shocks that took place during COVID-19 and Russia's illegal war on Ukraine. I would also remind members opposite that most of the emissions from the agriculture sector are not subject to pollution pricing.
We provide exemptions for gasoline and diesel fuel used by farmers in agriculture activities, and there is no price on emissions from livestock. There is also a partial rebate for commercial greenhouse operations. As well, we are returning a portion of the proceeds from the price on pollution directly to farmers in the backstop jurisdictions through a refundable tax credit. This would apply to farmers in Alberta, Saskatchewan, Manitoba, Ontario, New Brunswick, Nova Scotia, P.E.I. and Newfoundland and Labrador. We are also creating economic opportunities for farmers that take further action to reduce emissions through Canada's GHG offset credit system.
We are standing with our farmers, who are on the front lines facing climate change. As responsible stewards of the land, Canadian producers can lead the way in our transition to a low-carbon economy while supporting food security and environmental sustainability. Just as important, some of these practices may generate positive economic benefits.
Canada's approach to carbon pricing reduces pollution at the lowest overall cost to businesses and consumers. It provides an incentive for climate action and clean innovation while allowing businesses and households to decide for themselves how best to reduce emissions. It is a win for farmers, it is a win for the environment and it is a win for Canada. Spreading misinformation will make it harder for us to deal with the real source of the problem, which is climate change. This is why carbon pollution pricing is key. It is one of many tools to address climate change. It cuts emissions. It addresses climate change head on. It sparks new ideas to cut down on pollution.
By putting a price on carbon emissions, we are signalling the environmental and societal costs associated with fossil fuel consumption.
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Madam Speaker, Canada's approach to carbon pricing is designed to reflect the true cost of pollution, incentivizing a collective move toward less carbon-intensive choices in energy production, home heating and transportation.
In provinces where the federal carbon pollution pricing system applies, the majority of fuel charge proceeds go right back into the pockets of individuals and families via the Canada carbon rebate, with the remaining proceeds returned through other programs to indigenous governments and small and medium-sized businesses. Residents in these provinces living in small and rural communities also receive a rural top-up, which Conservatives voted against in Bill C-59, which proposes to double the top-up from 10% to 20%. Our measures balance support and the environment together. It is through this approach that we will—
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