44th Parl. 1st Sess.

May 21, 2024 10:00AM

Context: House Hansard - 314 - May/21/24

Ms. Arielle Kayabaga (London West, Lib.)

May/21/24 8:21:35 p.m.
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Mr. Speaker, it is a pleasure to join and participate in today's debate in support of Bill C-69. This legislation would advance many of the government's key priorities in budget 2024, “Fairness for Every Generation”. Budget 2024 is our government's plan to build a Canada that works for every generation, where younger generations can get ahead, where their hard work completely pays off, and where they can buy or rent a home of their own. It is our plan to ensure that everyone has a fair chance at a good, middle-class life. The government is working to implement this bill quickly, because Canadians deserve bold investments in housing, in a stronger social safety net and in economic growth that creates good-paying jobs. Bill C‑69 will have a positive impact across the country, and I am already optimistic about the impact in my riding, London West. With budget 2024 and Bill C‑69, we are taking action to ensure fairness for every generation and to drive the kind of economic growth that will ensure every generation can reach its full potential. We are aiming for nothing less. I would now like to talk about some of the measures we are putting forward to achieve that goal. Our government understands that more needs to be done to build more homes faster and make housing more affordable. I am delighted to see that we are quickly moving forward with the bold measures that are in Bill C-69. For example, we are enhancing the homebuyers' plan to help first-time homebuyers at a time when saving for a down payment is more difficult. More specifically, we are increasing the withdrawal limit from $35,000 to $60,000 and temporarily adding three years to the grace period before homebuyers are required to start making their repayments to an RRSP. We are also cracking down on short-term rentals by denying income tax deductions on income earned from short-term rentals that do not comply with the provincial or local restrictions. By doing so, we are unlocking more homes for Canadians to live in, because that is what Canadian homes should be for. They are for Canadians to live in. Also, to ensure that these homes are available for Canadians to live in and not used as a speculative asset class for foreign investors, we are banning foreign buyers of Canadian homes for an additional two years. This means that the ban will now be extended until January 1, 2027. The government is also taking action to make life more affordable for Canadians. For example, Bill C‑69 amends the Telecommunications Act, making it easier to find better Internet, home phone and cell phone services. We are making amendments that will give Canadians more flexibility to renew or switch plans, with a clear understanding of the choices and services that will best suit their needs. We will also launch a consumer-driven banking framework, also known as open banking or consumer-directed finance, to provide Canadians and small businesses with safe and secure access to a wider range of financial services and products. Another way we are making life more affordable is by giving law enforcement agencies the tools they need to protect Canadians from auto theft. We will also introduce more serious criminal offences related to auto theft as well as new restrictions on the possession and distribution of devices used to steal vehicles. I am also particularly proud of the measure that would benefit many firefighters and search and rescue volunteers. We are going to double the volunteer firefighters tax credit, and the search and rescue volunteers tax credit as well. These credits would go from $3,000 up to $6,000 in recognition of the essential roles and the sacrifices that the volunteers make to keep Canadians safe. These are volunteers who are Canadian heroes and they deserve all the recognition. Budget 2024 is also about growing Canada's economy. In Bill C-69, we are including many measures that would do exactly that. We would grow Canada's economy by further advancing indigenous economic participation through the indigenous loan guarantee program. Thanks to the creation of this program, indigenous communities across Canada would be able to share in Canada's prosperity and benefit from new opportunities ahead. This new loan program, with up to $5 billion in loan guarantees, will unlock access to capital for indigenous communities to create economic opportunities and support their economic development priorities as well. We are moving forward with investment tax credits that are designed to boost investment and secure Canada's competitiveness while supporting our country's goal of net-zero emissions by 2050. In budget 2024, the government recently announced the next steps in our plan to attract significant investment to Canada. These investments will help us create good-paying jobs in Canada and accelerate the development and deployment of clean energy and clean technology. More specifically, in Bill C-69, we are also going to deliver two investment tax credits, the up-to-40% clean hydrogen and the 30% clean technology manufacturing investment tax credits. Passing these two tax credits into law means that we are going to secure a cleaner and more prosperous future for Canadians today and tomorrow by securing more private investment in our country. To wrap up, with budget 2024, our government is putting forward a plan to deliver fairness for every generation in Canada. We are introducing measures to give everyone a fair chance at a middle-class life here in Canada. As discussed, we are moving forward in Bill C-69 with measures that are going to make housing more affordable, make our communities safer and continue to grow Canada's economy while creating clean and good jobs. All Canadians will greatly benefit from the measures that are included in Bill C-69. I am already eager to see the multiple benefits that are going to happen for the Londoners of London West. Bill C-69 is a good bill, and I invite all of my colleagues to join me and vote in favour of this important legislation for Canada's future. It is a shame that there are members of the House who have already indicated that they will not be voting for this budget. This means that they are voting against the food program that we have put forward for children, as well as the dental care for seniors and for young children. They are voting against Canadians, basically. It is a shame.

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House Hansard - 314