House of Commons Hansard #136 of the 41st Parliament, 1st Session. (The original version is on Parliament's site.) The word of the day was panama.

Topics

Pensions
Oral Questions

2:15 p.m.

Some hon. members

Oh, oh!

Pensions
Oral Questions

2:15 p.m.

Conservative

The Speaker Andrew Scheer

Order, order. We have just started. The hon. Leader of the Opposition has the floor, and I am having difficulty hearing him.

The hon. Leader of the Opposition.

Pensions
Oral Questions

2:15 p.m.

Outremont
Québec

NDP

Thomas Mulcair Leader of the Opposition

You are right, Mr. Speaker. We are only getting started with them.

As we know, the Prime Minister likes to make important economic announcements when he is travelling abroad. Perhaps he could use his trip to France as an opportunity to announce that he is reversing the cuts to old age security and restoring the retirement age to 65.

What do the Conservatives say to that?

Pensions
Oral Questions

2:15 p.m.

York—Simcoe
Ontario

Conservative

Peter Van Loan Leader of the Government in the House of Commons

Mr. Speaker, we are making changes to old age security in order to ensure the sustainability of the system. This is very important for the future, for future generations of seniors. The opposition parties do not understand the situation. It is not a question of saving money, but rather one of making the old age security program viable so that it can continue to exist when Canadians need it.

The Economy
Oral Questions

June 7th, 2012 / 2:15 p.m.

Outremont
Québec

NDP

Thomas Mulcair Leader of the Opposition

Mr. Speaker, for months now New Democrats have been sounding the alarm about the risks facing the global economy. The Prime Minister has painted a rosy picture. He has told Canadians we do not need a new plan; he has told us we should just stay the course, but this week in London he changed his tune. Suddenly, after months of insisting that all was well, the Prime Minister has started musing about catastrophic economic scenarios on the horizon. We are running out of runway, he has told us.

Which is it? Is everything under control, as the Conservatives say, or are we on the brink of collapse?

The Economy
Oral Questions

2:15 p.m.

Whitby—Oshawa
Ontario

Conservative

Jim Flaherty Minister of Finance

Mr. Speaker, our government's economic policies, and Canadians know this, have made Canada an island of stability in the world of relative economic unhealth. It is true that some of the eurozone countries have not dealt with their financial crisis and they need to deal with it, not only for the sake of the eurozone but for the rest of the world, to avoid banking contagion and another credit crisis like we had several years ago. The solution is not, as the NDP leader suggests, to take billions of Canadian tax dollars and give them to wealthy European countries.

The Economy
Oral Questions

2:20 p.m.

Outremont
Québec

NDP

Thomas Mulcair Leader of the Opposition

That is the type of pure fabulation one resorts to when one does not have any arguments, Mr. Speaker.

In 2008, the same Conservative minister went after Jack Layton when he declared that we were on the verge of a new recession. The Conservatives said that there was nothing of the sort, that it was not true. We were eventually proven right.

So what is the government going to do? Is it once again going to wait until we are caught with our pants down?

Since the Conservative budgets have left Canadians in an unstable financial position, when will the Conservatives change their approach and bring in a real economic action plan?

The Economy
Oral Questions

2:20 p.m.

Whitby—Oshawa
Ontario

Conservative

Jim Flaherty Minister of Finance

Mr. Speaker, I am glad the Leader of the Opposition brought up what happened during the great recession and the fact that the Conservative government brought forth the economic action plan, which was a remarkable plan, voted on in the House, the subject of the budget in January 2009, a seminal document, and the NDP voted against it. This was the document that created the economic action plan that led to a Canadian recovery, which is the best among the developed countries in the world, which led to the creation of 750,000 jobs. This is another demonstration of the economic incompetence of the Leader of the Opposition.

The Economy
Oral Questions

2:20 p.m.

NDP

Peggy Nash Parkdale—High Park, ON

And the Conservatives denied there was even a problem going into the previous election, Mr. Speaker.

An economic storm seems to be brewing on the European horizon, but lecturing European leaders will not solve the problem. The Prime Minister said that Europe was a half-done project, but he was not able to explain his own recovery plan.

If we are on the verge of a new recession, what will the Conservatives' plan be? Do they have one, or do they simply plan on blaming Europe?

The Economy
Oral Questions

2:20 p.m.

Whitby—Oshawa
Ontario

Conservative

Jim Flaherty Minister of Finance

Mr. Speaker, certainly we have been working with our European colleagues. In fact we have been working with them, I and the Prime Minister, for several years now with respect to the European challenges.

The United States dealt with its issues in the fall of 2008 and recapitalized its banks. We dealt with our economic issues in Canada, and now we have secure and solid economic and fiscal fundamentals in this country, the best in the G7.

It is time, and we have encouraged our European allies to move forward, to seize the day and to address the major fiscal issues that they have, without Canadian tax dollars bailing them out, which the Leader of the Opposition suggests.

The Economy
Oral Questions

2:20 p.m.

NDP

Peggy Nash Parkdale—High Park, ON

Mr. Speaker, let us talk about seizing the day.

The Prime Minister is in Paris today, saying that Europe is only “half-done”. The Prime Minister says he has a plan if there is another serious fiscal crisis, but he will not say what that plan is. That is far less than half done; that is not even getting started.

In 2008, the Conservatives adopted stimulus measures only when the government's very survival was threatened. What is the contingency plan? Will it be 2008 all over again and will Canadians have to wait for a last-minute makeshift plan? Which is it?

The Economy
Oral Questions

2:20 p.m.

Whitby—Oshawa
Ontario

Conservative

Jim Flaherty Minister of Finance

Mr. Speaker, Canadians know that the government is fully capable of economic management, unlike the opposition.

The opposition, in fact, when it was presented with the stimulus plan, the economic action plan in January 2009, at a time when we were very worried about millions of Canadians being unemployed, they voted against the plan. The plan worked despite the New Democratic Party, despite the incompetence of NDP leadership on economic issues.

The Budget
Oral Questions

2:20 p.m.

Liberal

Bob Rae Toronto Centre, ON

Mr. Speaker, I wonder if I might draw the attention of the government to Bill C-38, which is in fact the 750-clause piece of legislation that deals with the environment and in one clause changes the entire Environmental Assessment Act; it deals with old age pensions, raising the age of access to old age pensions to 67; it cuts EI dramatically, with details that are still forthcoming and we still do not know what they all are; and it deals with environment and fisheries.

I would like to ask the government: Does it not see the fairness and the logic of dividing up this bill, of giving this House the opportunity to deal with it, of giving the provinces and the premiers—

The Budget
Oral Questions

2:20 p.m.

Conservative

The Speaker Andrew Scheer

The hon. government House leader.

The Budget
Oral Questions

2:20 p.m.

York—Simcoe
Ontario

Conservative

Peter Van Loan Leader of the Government in the House of Commons

Mr. Speaker, our economic action plan 2012 is a comprehensive plan. It is a comprehensive plan focused on job creation and prosperity in the short term and in the long term.

It takes advantage of the resources that Canada has, talented human resources, the most skilled workforce in the world, and how we make that even better to respond to our needs in the future; the fact that we have tremendous natural resources, and how we harness those to create jobs and prosperity for the future, to ensure that we balance our budget, so again future generations are not paying the costs of expenses of the past.

These are all part of ensuring Canada has a strong fiscal footing, job creation and prosperity for generations to come.