Debates of May 29th, 2023

Department of Finance—Main Estimates, 2023-24

[The Chair, Conservative, Chris d'Entremont]

Could the member please take the earpiece behind him and move it away from the microphone? It is being picked up when he is speaking French, so we are hearing the English translation along with it.

The hon. member for Vaughan—Woodbridge may continue. I am sorry for the interruption.

[Francesco Sorbara, Liberal, Vaughan—Woodbridge, ON]

Mr. Chair, we believe that these improvements will help low-income workers get timely access to the money they need to meet their needs and those of their families. As of June 2023, single workers will receive up to $714 and families will receive up to $1,231 in three advance payments.

The Canada workers benefit is something that is lifting millions of hard-working Canadians out of poverty, making that difference at the end of every month and the end of every year. These advance payments are just another way of ensuring that Canadians receive the help they need at the most opportune time.

To make life more affordable, our government is moving forward with increasing certain RESP withdrawal limits from $5,000 to $8,000 for full-time students and from $2,500 to $4,000 for part-time students. This measure, combined with the improvements announced in budget 2023 with respect to financial aid for students, will help students cover the cost of their education and pursue their dreams.

We will crack down on predatory lenders that take advantage of some of the most vulnerable people in our communities, including low-income Canadians, newcomers and seniors. These lenders often offer very high-interest loans and we believe it is important to act to protect the most vulnerable Canadians. That is why we are changing the Criminal Code to lower the criminal interest rate of 47% APR, or annual percentage rate, to 35% APR, which would match the ceiling in Quebec. We are also launching consultations to determine whether the criminal interest rate should be further lowered to better protect Canadians.

As people know, our government has stepped up since 2015 whenever Canadians needed our support. Here are a few more examples.

We support approximately 3.5 million families each year through the Canada child benefit. This year, families will receive up to nearly $7,000 per child under the age of six, and up to $5,903 per child aged six to 17.

We increased old age security by 10% for people over the age of 75 starting in July 2022, which represents more than $800 in additional assistance for fully retired seniors.

We have reduced fees for regulated child care by an average of 50%, so that regulated child care will cost an average of only $10 per day by 2026.

I know the price of day care for my family has gone down by approximately 52.7%. I think that is more of an exact number. That is what I was told by the day care. More importantly, the parents who go to my child's day care, which has been in existence for over 30 years, have told me stories about how important this measure is and how much money, after-tax dollars, that families are saving, not only in my riding of Vaughan—Woodbridge but also across this beautiful and blessed country.

We will look back 10 to 20 years, generations from now, and for sure in three to five years, and see that this has been a transformational measure for Canadian families and our economy. We will applaud everyone, all the provinces and the leadership of the Deputy Prime Minister and Minister of Finance for generations to come. I am very proud of the government that got this done.

We have also strengthened the Canada pension plan. Of course, our government will continue to help those who really need it, while continuing to manage public funds responsibly. Yes, the pandemic has had a significant impact on our wallets with inflation, but it has also reminded us all just how important our health is and how important our health care system is. The pandemic has severely stressed our health care systems and exacerbated the shortage of workers and lack of access to primary care.

We believe Canadians deserve better. That is why, earlier this year, the Prime Minister announced that the federal government will increase health funding to the provinces and territories. We are moving forward with federal funding.

This is $190.6 billion over 10 years to the provinces for health care, including $42.6 billion in new dollars to ensure that our health care system is there for today and for tomorrow.

With that, I will end my speech. I look forward to asking the Deputy Prime Minister a few questions.

We all know we want to raise the standard of living of all Canadians today and for generations to come. One way to do that is by increasing participation rates in our society, especially for families that do not want to choose, and should not have to choose, between staying home and putting their child in day care.

Could the Deputy Prime Minister comment on the measures we have put in place?

[Chrystia Freeland, Liberal, Deputy Prime Minister and Minister of Finance]

Mr. Chair, I would really like to thank the member for Vaughan—Woodbridge for the really good speech he just made. I am really glad that he started by highlighting child care, including talking about his family's direct experience.

The fact is that our early learning and child care program is a triple win. It is a win because we have increased, and have already seen remarkable improvement in, the women's labour force participation rate, which is 85% in Canada, while it is 77% in the U.S. It is a win because it makes life more affordable for working families. It is also a win because it provides great learning for the youngest Canadians.

[Francesco Sorbara, Liberal, Vaughan—Woodbridge, ON]

Mr. Chair, we know that the issues with COVID and the impact of the supply chain bottlenecks caused a great amount of inflation, not only here in Canada, but also globally. We know that inflation is on a moving average downward trajectory here in Canada. We understand that. We know it will take time.

With that, our government has put in place a number of affordability measures to help the constituents in my riding. I was at a seniors function on Sunday with over 500 seniors, and I was able to tell them that they were going to have dental care by the end of the year, and that they are also going to be receiving a payment on July 5.

Can the Deputy Prime Minister please inform the House as to how we are helping Canadians deal with inflation?

[Chrystia Freeland, Liberal, University—Rosedale, ON]

Mr. Chair, as my colleague from Vaughan—Woodbridge has pointed out, it sounds as if for him, and this has certainly been the case for me, and I bet for many MPs here, one of the most painful things has been hearing from vulnerable Canadians about how tough the COVID economy has been on them. I think all of us have talked to people who told us those stories, so I think that it is really important, and really good news, that we are able to get the grocery rebate out to Canadians on July 5.

I know my colleague from Vaughan—Woodbridge has been sharing that good news with his constituents, and we have just heard from him what a relief it is for them to hear that. We know that the grocery rebate is not going to cover the cost of everything for everyone. That is not possible and not what it is designed to do, but for the people who need it the most, 11 million Canadians and Canadian families, it is going to provide really needed relief at an important moment.

[Francesco Sorbara, Liberal, Vaughan—Woodbridge, ON]

Mr. Chair, our government, since 2015, has concentrated many efforts on fighting climate change and reducing greenhouse gas emissions, which are both important, while growing the economy. Yes, the environment and the economy go hand in hand, and we know Canada is blessed with the human capital and natural resources for the companies and workers to be champions in the economies of today and tomorrow as we transition to new technologies.

Our government has put in place a number of measures that not only respond to the Inflation Reduction Act, but also lead the act, because we know the IRA was in response to the environment, and we as Canadians and our government are already there putting in place measures to help this transition and lower greenhouse gases.

[Chrystia Freeland, Liberal, University—Rosedale, ON]

Mr. Chair, that is another really important question from the member for Vaughan—Woodbridge.

The reality is we need climate action for two reasons. We need it because we have to act. We need to save our planet. Canada is literally burning, and we need to respond.

We also need it because the jobs of the future will be in the clean economy, and we simply cannot sit on our hands and allow other countries to eat Canada's lunch.

Our government is not going to do that. That is why I am so glad that our $120-billion clean economy plan is receiving such positive reviews from investors around the world.

[Stephanie Kusie, Conservative, Calgary Midnapore, AB]

Mr. Chair, I will be splitting my time three ways.

With whom has the deputy minister communicated at McKinsey and Company?

[Chrystia Freeland, Liberal, Deputy Prime Minister and Minister of Finance]

Mr. Chair, is the member opposite talking about in my career as a financial journalist?

[Stephanie Kusie, Conservative, Calgary Midnapore, AB]

Mr. Chair, yes.

How many times with different members of McKinsey and Company?

[Chrystia Freeland, Liberal, University—Rosedale, ON]

Mr. Chair, in my career as a financial journalist, I interviewed people from McKinsey very often.

[Stephanie Kusie, Conservative, Calgary Midnapore, AB]

Mr. Chair, what about in her role as Deputy Prime Minister and Minister of Finance?

[Chrystia Freeland, Liberal, University—Rosedale, ON]

Mr. Chair, in my role as Deputy Prime Minister and finance minister, I often meet with business leaders from across—

[The Chair, Conservative, Chris d'Entremont]

The hon. member.

[Stephanie Kusie, Conservative, Calgary Midnapore, AB]

Mr. Chair, does she have a relationship with Dominic Barton?

[Chrystia Freeland, Liberal, University—Rosedale, ON]

Mr. Chair, we have spoken about quickies earlier this evening, so I am not sure to what the member opposite is—

[The Chair, Conservative, Chris d'Entremont]

The hon. member for Calgary Midnapore.

[Stephanie Kusie, Conservative, Calgary Midnapore, AB]

Mr. Chair, has she ever discussed policy with him?

[Chrystia Freeland, Liberal, University—Rosedale, ON]

Mr. Chair, I first met Mr. Barton when I was a financial journalist—

[The Chair, Conservative, Chris d'Entremont]

The hon. member.

[Stephanie Kusie, Conservative, Calgary Midnapore, AB]

Mr. Chair, in an article published by the CBC on January 24, 2023, two public servants from IRCC came forward about the role McKinsey had been playing in the policy decisions of the government. The sources were also critical of McKinsey's possible influence over Canada's immigration targets.

Have the Deputy Prime Minister and Mr. Barton ever discussed immigration policy?

[Chrystia Freeland, Liberal, University—Rosedale, ON]

Mr. Chair, as I said, as a financial journalist, I often interviewed many people from McKinsey and other international businesses. As the finance minister, one of my jobs is to talk to business leaders from Canada and around the world. That is one of the things that I do.

[Stephanie Kusie, Conservative, Calgary Midnapore, AB]

Madam Chair, can the deputy minister inform us as to McKinsey's role in the creation of the Canada Infrastructure Bank?

[Chrystia Freeland, Liberal, University—Rosedale, ON]

Madam Chair, the Canada Infrastructure Bank was set up when I was trade minister and foreign minister, so I was not directly involved in its creation.

[Stephanie Kusie, Conservative, Calgary Midnapore, AB]

Madam Chair, has the Deputy Prime Minister ever worked with Mr. Sabia?