44th Parl. 1st Sess.
May 9, 2024 10:00AM
Madam Speaker, in the over 20 hours of witness testimony that was heard at the Standing Committee on Finance, we heard from industry about the importance of the investment tax credits that our government is launching, two of which are rolled out in Bill C-59.
Could the minister speak to the importance of those investment tax credits, in particular, the carbon capture, utilization and storage and the clean technology investment tax credits, in terms of their ability to mobilize capital to build a clean economy here in Canada?
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Madam Speaker, last November, the government introduced Bill C-59, the fall economic statement implementation act. Among other measures, Bill C-59 proposed significant amendments to our Competition Act.
I am proud to share that the Standing Committee on Finance has recently completed its review of the bill and has made several amendments to further strengthen existing proposals. Before I get into some of the key details of this critical piece of legislation, I feel it is important to highlight the economic context in which this legislation is being introduced.
Countries around the world are dealing with higher inflation due to a global pandemic, further exacerbated by geopolitical uncertainty. Despite the fearmongering of the Conservative members opposite, Canada's economy is remarkably strong and resilient. That is truly due to the hard work of Canadians themselves. A few proof points demonstrate this: Canada's net debt-to-GDP ratio is well below that of our G7 peers; our deficit is declining; and we are one of the only two G7 countries with an AAA credit rating from independent experts. Something that we can all be quite proud of is that Canada received the highest per capita foreign direct investment in the G7 in the first three quarters of 2023. Some may ask why those facts matter. These proof points show that Canada is in an enviable position when it comes to fiscal management. That position is exactly the reason our government can afford to make transformative investments in improving housing affordability and making life cost less.
Unlike Conservatives, who cut support for Canadians, we believe in supporting the middle class through growth and investment. I hear from my constituents often that their top concerns are being able to find an affordable place to live and wanting to find ways to make their day-to-day expenses cost less. This legislation addresses these two core issues head on.
For many years, Canada's markets have been described as overly concentrated and not competitive enough. In fact, a landmark Competition Bureau study last year, based on Statistics Canada data and analysis from a University of Toronto professor, made critical findings in this respect, showing that competitive intensity has been on the decline over the past two decades, reflected in a number of important indicators.
Bill C-59 was introduced to help build a stronger domestic economy through more competition and contestable markets, to bring lower prices, more choice and better product quality for consumers across all sectors. The measures in this bill include strengthening provisions with respect to merger review, enhancing protections for consumers, workers and the environment, and broadening opportunities for private enforcement.
We should not underestimate just how critical these reforms are for modernizing our law and promoting competitive markets. The Commissioner of Competition has stated on multiple occasions that the amendments in Bill C‑56, the affordable housing and groceries act, which was ultimately passed by this Parliament in December 2023, and Bill C-59, are generational. I would therefore like to highlight some important reforms that have been proposed.
To begin with, anti-competitive collaborations between competitors will be under increased scrutiny, as the bureau will be able to examine and, if necessary, seek penalties against coordinated conduct that lessens competition. The expansion of private enforcement and the ability for the Competition Tribunal to issue monetary payment orders in cases initiated by private parties is also a significant change to our existing enforcement approach.
More competition is always beneficial to consumers, but the bill also takes some more direct approaches to protect consumers. These include strengthening provisions on deceptive marketing so that vendors must present the full cost of a product or service upfront, without holding back mandatory fees, which is known as drip pricing. Businesses making environmental claims about their products will be required to have undertaken adequate and proper testing before advertising those benefits. Together, these changes would ensure that consumers have accurate and complete information about products and services to make informed purchasing decisions.
We have also made strides on the right to repair. Thanks to the bill, a wider variety of service providers would be able to offer more options to consumers when they are choosing where to repair their products. These reforms, along with various administrative changes aimed at facilitating efficient enforcement of the act, are crucial to ensuring that Canadian markets remain competitive and in line with international best practices.
It has been acknowledged by all members of the House that our competition framework requires reform, and my colleagues have engaged in thoughtful discussion on ways to modernize the existing marketplace framework. The committee members were notably quite interested in enhancing protections for consumers and the environment, and I would like to draw attention to some now.
First, clarifications were made to ensure that in the Competition Act's various provisions on drip pricing, the only amounts that can be excluded from the upfront price, are those imposed by law directly on the purchaser of the products, such as sales taxes.
Next, with the committee's amendment, sellers advertising reduced prices would be required to be able to prove that the regular price is authentic to publicize discounts. On the topic of doubtful environmental claims, or so-called greenwashing, the law would also require that those who make environmental claims about their business or business activities, not only specific products, have adequate and proper substantiation in hand to support such claims.
This bill goes beyond making generational changes to competition in Canada. It also takes concrete action to build more homes faster, including new rental housing. Bill C-59 proposes to eliminate GST on eligible new housing co-operatives built for long-term rental, as outlined in the fall economic statement. This is just one of many measures our government is proposing to ensure that more people across all provinces and territories find the housing they need, at a price that they can afford.
Amidst a period of inflation and growing affordability concerns, it is crucial that our markets remain resilient and open to competition. Bill C-59 would reform Canada's competitive landscape, encourage greater innovation and improve affordability for Canadians. It would also get more rental housing built faster so that we can ensure housing is affordable for every generation.
I would urge my colleagues from all sides of the House to work together to expeditiously pass this crucial piece of legislation, instead of doing what we have seen in committee, which is to slow the bill down. We continue to see the Conservatives try to obstruct key pieces of legislation that are helping Canadians in their time of need, and that is not what we have been put here to do.
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Madam Speaker, I have the utmost respect for the member opposite, having worked with her on several committees, heard her testimony, and seen her great advocacy for her community.
I know the particular bill we are debating tonight, Bill C-59, has a measure to waive GST on new co-operative rental housing construction. That is obviously one measure of many in a package of measures that are included in this year's budget, which would make a difference.
I note that the Minister of Housing, Infrastructure and Communities had a great intervention earlier with the member opposite. He detailed specific investments that are quite sizable in northern, rural and remote indigenous communities. I know my work on the HUMA committee years ago was part of those studies, and I am glad to see that our government is following through with significant investments.
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- May/9/24 7:55:04 p.m.
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Madam Speaker, I can relate to the member's commitment to having a strong health care system in Canada today. That is exactly why our government, through the health transfer, has increased funding to provinces and territories.
I would note that the amount is approximately $200 billion over the next 10 years. We have also followed that up with bilateral agreements that add to those investments and identify key priorities across the country. A stronger health care system is essential.
It strikes me as a bit rich that the member opposite is talking about health care, when the Conservative Party, and many Conservative premiers, seem to struggle to utilize those dollars to truly strengthen our health care system. My family members and people in my community cannot even get a $3-million planning grant to move forward on building a local hospital.
Our government has invested in health care, and we look forward to seeing those investments land on the ground for families.
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- May/9/24 7:56:59 p.m.
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Madam Speaker, I have great respect for the member, having worked with him on the science and research committee. I know him to be a productive member of Parliament who advocates for his community well. It was great to see, in our current budget, the great investments in research that we both advocated for.
With regard to housing investments, our government is working collaboratively with Quebec, and all other provinces and territories. It does take time to design programs and roll them out at the national level, but we look forward to the strongest possible collaborative relationship with the Government of Quebec in ensuring that Quebeckers get the housing they need, just like all other Canadians.
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Madam Speaker, the member opposite must know about the challenges that many Canadians have faced in terms of postpandemic recovery, with mental health issues on the rise and with many Canadians stressed out about an uncertain future. Bill C-59 proposes to waive GST on accessing psychotherapy. I think that is a great measure for ensuring that Canadians can get access to the mental health care they need, when they need it.
Can the member opposite tell me whether she supports that measure?
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Madam Speaker, I agree with the member on many of the things she said. I know that in our discussions on Bill C-59, the Competition Act reforms, there was much collaboration between the Liberals and the NDP at committee. We took some of the NDP's suggestions and further strengthened the measures. I would ask her if she knows what is left to do on the Competition Act reforms as per her leader's bill.
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Madam Speaker, I wanted to ask the member about the greenwashing provisions in the Competition Act. The government worked collaboratively and very closely with Bloc and NDP members to strengthen the provisions within the Competition Act that deal with products that claim to be sustainable and also general claims that companies may make. I think those provisions in the Competition Act really prevent against greenwashing and ensure that companies have to substantiate and have evidence for the claims they make.
Could the member opposite speak to whether she supports that and whether she will be supporting Bill C-59 as a result?
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- May/9/24 10:35:09 p.m.
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Mr. Speaker, the member for Oshawa should know that the rapid housing initiative has created hundreds of housing units across Durham region, including in his riding of Oshawa. I was at the announcements. I am sorry that he did not make it.
The federal government also invested $259 million through the strategic innovation fund in General Motors Oshawa, along with the Ontario government, to produce electric vehicles. After an over $2-billion transformation, General Motors Oshawa is now producing electric vehicles.
How can the member opposite deny the workers in our region the major employment opportunities that General Motors Oshawa has created and that our government has helped invest in?
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- May/9/24 10:52:39 p.m.
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Mr. Speaker, I know we hear, every day, the misleading statements of Conservatives when it comes to climate change. They do not acknowledge that climate change is real. They do not want to fight climate change. They do not believe in the economic prosperity that comes with it. The fall economic statement bill offers investment tax credits for carbon capture, utilization and storage, as well as clean technology. It also doubles the rural top-up for the Canada carbon rebate, which puts more money in Canadians' pockets. I wonder if my colleague could speak to the importance of those measures for his region of the country.
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- May/9/24 11:03:50 p.m.
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Mr. Speaker, just last week, the Governor of the Bank of Canada appeared before committee. He gave very compelling testimony, answering questions from the Conservative Party, and said that the government, compared to the fall economic statement in this year's budget, has stuck to its fiscal guardrails and that there would be no impact on inflation. We also had the International Monetary Fund, which recently rated Canada number one in the world in terms of budget balance.
What I want to know from the member opposite is this. His party leader has said that he would fire the Governor of the Bank of Canada. Is that because he does not like the truth?
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Mr. Speaker, every day, Conservatives stand up in the House and cite food bank lineups, as if they care. They are also clear that they are going to vote against the national school food program. One of the other measures that we have taken, of course, in Bill C-59 is competition reform.
I wonder if my colleague could speak to the importance of having more competition.
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