Evidence of meeting #10 for Finance in the 41st Parliament, 2nd Session. (The original version is on Parliament’s site, as are the minutes.) The winning word was quebec.
A video is available from Parliament.
6:35 p.m.
Conservative
The Chair Conservative James Rajotte
Thank you, Mr. Saxton.
Mr. Brison, it's time for your round, please.
6:35 p.m.
Liberal
Scott Brison Liberal Kings—Hants, NS
Thank you, Mr. Chair.
Minister, according to your recent update the EI account will move back to balance in 2015, instead of the previously predicted 2016.
You had promised to set the EI rate at a break-even level once the account was balanced, but Bill C-4 actually freezes EI premiums at an artificially high rate until the end of 2016. That will result in $5.6 billion more in payroll tax than what is required to pay out the benefits during that period.
You've called EI premiums a job-killing payroll tax. The recovery is a tenuous one. Why don't you let the EI rates fall in 2016, instead of keeping them higher into 2017?
6:35 p.m.
Conservative
Jim Flaherty Conservative Whitby—Oshawa, ON
We're actually freezing EI rates for the next three years so that there will be no uncertainty with employers or employees. It's a similar argument that I hear from some of the provinces now . They say you should raise CPP payroll taxes, and I say to them no, we have a fragile economy. We're growing at 1.8% or 2% or so.
6:40 p.m.
Conservative
6:40 p.m.
Liberal
6:40 p.m.
Liberal
Scott Brison Liberal Kings—Hants, NS
Minister, your argument with the provinces is that increasing payroll premiums would be bad for the economy, yet Bill C-4 actually keeps payroll premiums artificially high for a longer period of time.
Why not simply allow EI premiums to self-balance with payouts as the account moves into balance in 2015? If your argument to the provinces is that artificially high premiums on jobs or wages will hurt the economy, why are you keeping them high yourself in Bill C-4?
6:40 p.m.
Conservative
Jim Flaherty Conservative Whitby—Oshawa, ON
To provide certainty so that businesses, especially small businesses, know that they will not be faced with increases, which has been the history.
You're a member of a political party—well, you are now—that stole $50 million, or was it a billion dollars, from EI.
6:40 p.m.
Conservative
Jim Flaherty Conservative Whitby—Oshawa, ON
I don't need any lectures from you about how to run an EI system.
6:40 p.m.
Liberal
Scott Brison Liberal Kings—Hants, NS
Certainly. You were part of a provincial government that padded its folks with asset sales, and now you're proposing to do the same here.
6:40 p.m.
Conservative
Jim Flaherty Conservative Whitby—Oshawa, ON
I'm part of a provincial government that had to close hospitals because your government—
6:40 p.m.
Liberal
Scott Brison Liberal Kings—Hants, NS
Jim, please, let's focus on your current job. You're not in provincial politics anymore.
6:40 p.m.
Conservative
6:40 p.m.
Liberal
Scott Brison Liberal Kings—Hants, NS
I have a question, Minister.
Your fiscal update assumes $1.5 billion in asset sales in 2015 and 2016. Can you tell us precisely what assets you will be selling?
6:40 p.m.
Conservative
Jim Flaherty Conservative Whitby—Oshawa, ON
As we have done in the document, we've listed the shares that the people of Canada own in General Motors, which are—
6:40 p.m.
Conservative
Jim Flaherty Conservative Whitby—Oshawa, ON
And we have the taxpayers' interest in Hibernia. We have the taxpayers' interest in the Dominion Coal Blocks in western Canada. We have the taxpayers' interest, the people's interest, in other ports in British Columbia.