House of Commons Hansard #62 of the 40th Parliament, 2nd Session. (The original version is on Parliament's site.) The word of the day was young.

Topics

Taxation
Statements By Members

2:15 p.m.

Liberal

Denis Coderre Bourassa, QC

Mr. Speaker, this morning, the Minister of National Revenue was asked if the Conservatives were planning to raise income taxes. He refused to answer.

He is refusing to answer questions about his hidden tax agenda. The guy who always has an answer for everything does not want to talk about it. I can understand his reluctance to talk about it, because there is sure to be plenty of criticism.

Will the Conservatives raise income and sales taxes? Who will suffer as a result? SMEs? The most vulnerable? The unemployed? The poor?

The minister should stand up and tell Parliament and all Canadians who will bear the brunt of his tax hikes. Once again, the Conservatives are showing their true colours.

Tory times are tough times.

Taxation
Statements By Members

2:15 p.m.

Conservative

Randy Hoback Prince Albert, SK

Mr. Speaker, our government's economic action plan is delivering real results for Canadians. They have asked for leadership from their federal government, and that is what we are providing.

At this critical time, when families need it the most, we are reducing taxes on Canadians, creating jobs, and helping Canadians who are hardest hit by the global recession.

Canadians will benefit from an additional $20 billion in personal income tax relief. Those who have lost their jobs are now eligible for five additional weeks of employment insurance. Canadians are benefiting from investments in skills and transition, which facilitates finding jobs in the new economy.

Meanwhile, the Liberal leader has said, “We will have to raise taxes”. This irresponsible tax hike policy is not what Canadians need during this recession.

The leader of the Liberal Party should stand up in the House today and come clean with Canadians and tell them which taxes he will raise, by how much he will raise them, and who will be forced to pay these taxes.

The Economy
Oral Questions

May 27th, 2009 / 2:20 p.m.

Etobicoke—Lakeshore
Ontario

Liberal

Michael Ignatieff Leader of the Opposition

Mr. Speaker, in September the government said there would be no recession, in October no deficits, in November it promised a surplus, but in January it brought down a $34 billion deficit. Yesterday, the deficit ballooned to $50 billion, all in a breathtaking six months, and still the money has not gotten out the door. This is incompetence on a historic scale.

How can the Prime Minister, or any other Canadian, still have confidence in the Minister of Finance?

The Economy
Oral Questions

2:20 p.m.

Calgary Southwest
Alberta

Conservative

Stephen Harper Prime Minister

Mr. Speaker, we are all aware that over the last few months the financial situations have deteriorated in all countries due to the recession.

The fact of the matter is that our deficits in Canada are a third to a quarter of the size of the deficit in the United States, the United Kingdom, Japan. These deficits are affordable. What we are doing is borrowing money at historically low interest rates to help unemployed people, to build infrastructure. That is what we should be doing and what we will continue to do.

The Economy
Oral Questions

2:20 p.m.

Etobicoke—Lakeshore
Ontario

Liberal

Michael Ignatieff Leader of the Opposition

Mr. Speaker, the issue here is the credibility of the Government of Canada and the credibility of the Minister of Finance.

Just five weeks ago, the Minister of Finance said, and I quote, “I'm comfortable with our projections... We're on track”. We are on track to where? The largest deficit in Canadian history. Canadians just cannot trust the government with their money.

Will the Prime Minister fire the Minister of Finance?

The Economy
Oral Questions

2:20 p.m.

Calgary Southwest
Alberta

Conservative

Stephen Harper Prime Minister

Mr. Speaker, what is at issue here is the credibility of the Leader of the Opposition, who has been here week after week demanding not just that the government spend more but that it spend more permanently. Now he tries to pretend he is concerned about the deficit.

I cannot fire the Leader of the Opposition, and with all the tapes I have on him, I do not want to.

The Economy
Oral Questions

2:20 p.m.

Etobicoke—Lakeshore
Ontario

Liberal

Michael Ignatieff Leader of the Opposition

Mr. Speaker, fortunately—

The Economy
Oral Questions

2:20 p.m.

Some hon. members

Oh, oh!

The Economy
Oral Questions

2:20 p.m.

Liberal

The Speaker Peter Milliken

Order, please. The hon. Leader of the Opposition has the floor.

The Economy
Oral Questions

2:20 p.m.

Liberal

Michael Ignatieff Etobicoke—Lakeshore, ON

Mr. Speaker, fortunately, the Prime Minister cannot fire me. He should fire the Minister of Finance. Yesterday, the deficit ballooned to $50 billion. It is the largest deficit in our history. This is incompetence on a historic scale.

When will the Prime Minister fire his Minister of Finance?

The Economy
Oral Questions

2:20 p.m.

Calgary Southwest
Alberta

Conservative

Stephen Harper Prime Minister

Mr. Speaker, while unemployment and the recession worsen, this government and this Minister of Finance are spending more on infrastructure helping communities and the unemployed. This policy is entirely proper, and we intend to pursue it.

The Economy
Oral Questions

2:25 p.m.

Liberal

John McCallum Markham—Unionville, ON

Mr. Speaker, in his last budget the finance minister projected a $34 billion deficit and he said the money must be flowing within 120 days. Today is that day, and where do we stand? The deficit has mushroomed to more than $50 billion, and according to media headlines, “Lots of announcements, but little money”.

How can the Prime Minister have confidence in his $50 billion man, a finance minister who has clearly lost the confidence of Canadians?

The Economy
Oral Questions

2:25 p.m.

Whitby—Oshawa
Ontario

Conservative

Jim Flaherty Minister of Finance

Mr. Speaker, who Canadians have lost confidence in are the Liberals.

On the one hand the Liberals say, “spend more money”, and on the other hand they say, “don't run a deficit” and “don't increase the deficit”; this, from the member for Markham—Unionville who does not even know what kind of car he drives.

The Economy
Oral Questions

2:25 p.m.

Liberal

John McCallum Markham—Unionville, ON

Mr. Speaker, that is the voice of failure.

In November, the Minister of Finance refused to see that the economy was in trouble. He predicted nothing but a surplus. Six months later, he has created the biggest deficit in Canada's history. It is clear that he is incompetent.

Does the Prime Minister not think that it is important for Canadians to have confidence in their finance minister? If so, then why is he keeping him on as minister?

The Economy
Oral Questions

2:25 p.m.

Whitby—Oshawa
Ontario

Conservative

Jim Flaherty Minister of Finance

Mr. Speaker, how can the people of Canada have confidence in the Liberals when they say this would be the largest deficit in Canadian history when it is not.

The deficits in the 1980s and 1990s, as members opposite should know, if they were living in the country at the time, approached 6% of GDP. That is what was going on in the 1980s and 1990s in this country.

This deficit is more in the neighbourhood of 3% of GDP. The deficit is affordable. It is necessary for Canada. We are doing the right things now when Canadians need these things done.