Mr. Speaker, I am pleased to rise to continue the Liberals' attempt to get answers from the government in relation to its fixation on giving unaffordable tax breaks to large businesses. These corporate tax cuts, to the tune of $6 billion per annum, translate to $8 million per day. The Conservatives will be borrowing $6 billion during a time of high deficits to give tax breaks to large corporations. This is unbelievable. It shows the government's lack of economic competence.
Each and every working Canadian, therefore, will be burdened with extra taxes so that the Prime Minister can give his friends a huge profit. Small and medium-size enterprises employ 53% of all working individuals. They are the economic engines, but will not receive one penny from the $6 billion. Working Canadians also will not see a penny of these $6 billion, but will be forced to pay extra taxes as this unaffordable corporate gift will increase the government's deficit and debt.
When Liberals left office, they left the treasury with a healthy surplus of $13 billion, which was a result of sound fiscal management. The Liberals had to clean out the horrendous mess the previous Conservatives had left. As sound economic managers, the Liberals brought Canada back to a healthy fiscal framework. This ensured better services and billions of dollars in personal and corporate tax cuts.
The Conservatives have blown the surplus through mismanagement. They now have a deficit of $56 billion, to which they will add another $6 billion per annum, with more likely for their ideological spending.
The government is creating a further disadvantage to small and medium-size businesses. By cutting taxes for large corporations, they are effectively taking away the competitive advantage for the SMEs. This will allow the big box store chains even greater ability to force their smaller competitors out of business.
Canadians may be facing an election soon over the upcoming budget, which will implement this giveaway of taxpayers' money. The choice at the ballot box will be clear. Do people favour a tax break for big business that will cause greater debt for all Canadians and put small and medium-size business at a competitive disadvantage or do they want a Liberal government that looks after every Canadian?
Can the minister explain to Canadians why he favours this corporate giveaway?