House of Commons Hansard #74 of the 39th Parliament, 1st Session. (The original version is on Parliament's site.) The word of the day was chair.

Topics

The Environment
Oral Questions

2:30 p.m.

Calgary Southwest
Alberta

Conservative

Stephen Harper Prime Minister

Mr. Speaker, I am not sure I would characterize anything here as a standoff. The leader of the NDP asked me in my office yesterday if the government would put this bill to a committee before second reading and I told him that was under consideration. I called him 20 minutes later after consulting my colleagues to confirm that we were willing to do that. The House leader will consult with the House leaders of the other parties on the best way to proceed.

The Environment
Oral Questions

2:30 p.m.

NDP

Jack Layton Toronto—Danforth, ON

Mr. Speaker, it is very important that we reach an agreement on this issue as soon as possible and that the legislative committee be put in place. I am asking the Prime Minister to state that he will take these considerations seriously and implement a constructive approach.

I am asking the Prime Minister, whether he is serious or not, to change direction and take a positive approach in order to achieve concrete results in the fight against climate change.

The Environment
Oral Questions

2:30 p.m.

Calgary Southwest
Alberta

Conservative

Stephen Harper Prime Minister

Mr. Speaker, the NDP leader has again asked me to refer Bill C-30 to a committee before second reading. We are prepared to do so, and I hope that the opposition will contribute positive and constructive ideas to such a process.

The NDP leader has tried to do that with a private member's bill, and I am waiting for members of the other opposition parties to do the same. When criticizing a plan, it is important to have a plan of one's own.

Income Trusts
Oral Questions

November 1st, 2006 / 2:35 p.m.

Liberal

John McCallum Markham—Unionville, ON

Mr. Speaker, today Canadian seniors and other investors, as a consequence of the government's broken promise, saw $25 billion of their hard-earned savings go up in smoke in two hours of trading. In comparison, the government's pathetically small tax relief is $1 billion over a whole year.

With the loss in two hours of trading 25 times bigger than the tax relief that the government is providing, how can the government claim that this day of infamy, this black Wednesday, is anything other than a total disaster for those who--

Income Trusts
Oral Questions

2:35 p.m.

Some hon. members

Oh, oh!

Income Trusts
Oral Questions

2:35 p.m.

Liberal

The Speaker Peter Milliken

Order, please. The hon. Minister of Finance.

Income Trusts
Oral Questions

2:35 p.m.

Whitby—Oshawa
Ontario

Conservative

Jim Flaherty Minister of Finance

Mr. Speaker, the member opposite would never go over the top. I know--

Income Trusts
Oral Questions

2:35 p.m.

Some hon. members

Oh, oh!

Income Trusts
Oral Questions

2:35 p.m.

Liberal

The Speaker Peter Milliken

Order, please. The hon. Minister of Finance has the floor to respond to the question asked by the hon. member for Markham—Unionville. We will have a little order.

Income Trusts
Oral Questions

2:35 p.m.

Conservative

Jim Flaherty Whitby—Oshawa, ON

Mr. Speaker, after 13 years in government and some time in opposition, as of October 18 this year, the member for Markham—Unionville said the following about his party's position on this important subject for all Canadians, “We don't have a definitive position on this”.

The former Liberal government offered confusion while we have provided clarity. It offered more confusion for independent families and their tax responsibilities. We offer balance in terms of corporations paying their fair share of taxes going forward in Canada.

Income Trusts
Oral Questions

2:35 p.m.

Liberal

John McCallum Markham—Unionville, ON

Mr. Speaker, let me explain to the House what the Minister of Finance offers. He offers a gross failure to manage the economy, a betrayal of investors who mistakenly took the minister and the government at their word, the single biggest blow to the wealth of Canadians ever dealt by a finance minister and a banana republic process, bringing disrepute to Canadian capital markets.

It is obvious that the minister has been a disaster on this file. When will the Prime Minister fire him?

Income Trusts
Oral Questions

2:35 p.m.

Whitby—Oshawa
Ontario

Conservative

Jim Flaherty Minister of Finance

Mr. Speaker, the RCMP is not investigating my Department of Finance but it is investigating the member's department of finance.

There were no leaks, no emails and no deals with friends on Bay Street. There was confidentiality, deliberation and the provision of certainty for capital markets in Canada.

Finally, there was an effort to create fairness for individual taxpayers and their families, while the member protects the big--

Income Trusts
Oral Questions

2:35 p.m.

Some hon. members

Oh, oh!

Income Trusts
Oral Questions

2:35 p.m.

Liberal

The Speaker Peter Milliken

Order, please. The hon. member for Outremont.

Income Trusts
Oral Questions

2:35 p.m.

Liberal

Jean Lapierre Outremont, QC

Mr. Speaker, yesterday the government broke its promise and went back on its word.

The government should look back at its election platform, which indicated in black and white on January 13:

A Conservative government will...preserve income trusts by not imposing any new taxes on them.

It was set down in black and white on January 13.

Why did the Prime Minister break his promise? Why did the Prime Minister lie to Canadians?