Bill C-28 (Historical)

Budget and Economic Statement Implementation Act, 2007

An Act to implement certain provisions of the budget tabled in Parliament on March 19, 2007 and to implement certain provisions of the economic statement tabled in Parliament on October 30, 2007

Part 1 implements goods and services tax and harmonized sales tax (GST/HST) measures proposed in the March 19, 2007 Budget but not included in the Budget Implementation Act, 2007, which received Royal Assent on June 22, 2007. Specifically, the Excise Tax Act is amended to
(a) increase the percentage of available input tax credits for GST/HST paid on meal expenses of truck drivers from 50% to 80% over five years beginning with expenses incurred on or after March 19, 2007;
(b) increase the GST/HST annual filing threshold from $500,000 in taxable supplies to $1,500,000 and the annual remittance threshold from $1,500 to $3,000, both effective for fiscal years that begin after 2007;
(c) increase the GST/HST 48-hour travellers’ exemption from $200 to $400 effective in respect of travellers returning to Canada on or after March 20, 2007; and
(d) implement changes to the rules governing self-assessment under Division IV of Part IX of the Excise Tax Act to ensure that GST/HST applies appropriately in respect of intangible personal property acquired on a zero-rated basis and consumed in furthering domestic activities, applicable to supplies made after March 19, 2007.
Part 2 amends the non-GST portion of the Excise Tax Act to implement measures announced in the March 19, 2007 Budget. Specifically, the excise tax exemptions for renewable fuels, including ethanol and bio-diesel, are repealed, effective April 1, 2008.
Part 3 implements income tax measures proposed in the March 19, 2007 Budget but not included in the Budget Implementation Act, 2007, which received Royal Assent on June 22, 2007. In particular, it
(a) introduces a new Working Income Tax Benefit;
(b) eliminates income tax on elementary and secondary school scholarships;
(c) eliminates capital gains tax on donations of publicly-listed securities to private foundations;
(d) enhances the child fitness tax credit;
(e) expands the scope of the public transit tax credit;
(f) increases the lifetime capital gains exemption to $750,000;
(g) increases the deductible percentage of meal expenses for long-haul truck drivers;
(h) provides tax relief in respect of the 2010 Winter Olympic and Paralympic Games;
(i) allows for phased-retirement options for pension plans;
(j) extends the mineral exploration tax credit;
(k) enhances tax benefits for donations of medicine to the developing world;
(l) streamlines the process for prescribed stock exchanges;
(m) introduces an investment tax credit for child care spaces;
(n) introduces a new withholding tax exemption with respect to certain cross-border interest payments;
(o) prevents double deductions of interest expense on borrowed money used to finance foreign affiliates (the Anti-Tax-Haven Initiative);
(p) eases tax remittance and filing requirements for small business;
(q) introduces a mechanism to accommodate functional currency reporting;
(r) provides certain tobacco processors that do not manufacture tobacco products with relief from the Tobacco Manufacturers’ Surtax; and
(s) provides authority for regulations requiring the disclosure by publicly traded trusts and partnerships of information enabling investment managers to prepare the tax information slips that they are required to issue to investors on a timely basis.
Part 4 implements the disability savings measures proposed in the March 19, 2007 Budget. The measures are intended to support long-term savings through registered disability savings plans to provide for the financial security of persons with severe and prolonged impairments in physical or mental functions. Part 4 contains amendments to the Income Tax Act to allow for the creation of registered disability savings plans. It also enacts the Canada Disability Savings Act. That Act provides for the payment of Canada Disability Savings Grants in relation to contributions made to those plans. The amount of grant is increased for persons of lower and middle income. It also provides for the payment of Canada Disability Savings Bonds in respect of persons of low income.
Part 5 implements measures that provide for payments to be made to provinces as a financial incentive for them to eliminate taxes on capital under certain circumstances.
Part 6 enacts the Bank for International Settlements (Immunity) Act.
Part 7 amends the Pension Benefits Standards Act, 1985 to permit phased retirement arrangements in federally regulated pension plans by allowing an employer to simultaneously pay a partial pension to an employee and provide further pension benefit accruals to the employee. These amendments are consistent with amendments to the Income Tax Regulations to permit phased retirement.
Part 8 authorizes payments to be made out of the Consolidated Revenue Fund for the purpose of Canada’s contribution to the Advance Market Commitment.
Part 9 amends the Canada Oil and Gas Operations Act to authorize the National Energy Board to regulate traffic, tolls and tariffs in relation to oil and gas pipelines regulated under that Act.
Part 10 amends the Farm Income Protection Act to allow financial institutions to hold contributions under a net income stabilization account program.
Part 11 amends the Federal-Provincial Fiscal Arrangements Act to provide for an additional fiscal equalization payment that may be paid to Nova Scotia and Newfoundland and Labrador. This Part also specifies the time and manner in which the calculation of fiscal equalization payments will be made and it amends that Act’s regulation-making authority. In addition, this Part makes consequential amendments to other Acts.
Part 12 amends the Canada Education Savings Act to clarify the authority of the Minister of Human Resources and Social Development to collect, on behalf of the Canada Revenue Agency, any information that the Canada Revenue Agency requires for purposes of administering the registered education savings plan tax provisions.
Part 13 authorizes payments to be made out of the Consolidated Revenue Fund to an entity, designated by the Minister of Finance, to facilitate public-private partnership projects.
Part 14 implements tax measures proposed in the October 30, 2007 Economic Statement. With respect to income tax measures, it
(a) reduces the general corporate income tax rate;
(b) accelerates the tax reduction for small businesses;
(c) reduces the lowest personal income tax rate, which automatically reduces the rate used to calculate non-refundable tax credits and the alternative minimum tax; and
(d) increases the basic personal amount and the amount upon which the spouse or common-law partner and wholly dependent relative credits are calculated.
Part 14 also amends the Excise Tax Act to implement, effective January 1, 2008, the reduction in the goods and services tax (GST) and the federal component of the harmonized sales tax (HST) from 6% to 5%. That Act is amended to provide transitional rules for determining the GST/HST rate applicable to transactions that straddle the January 1, 2008, implementation date, including transitional rebates in respect of the sale of residential complexes where transfer of ownership and possession both take place on or after January 1, 2008, pursuant to a written agreement entered into on or before October 30, 2007. The Excise Act, 2001 is also amended to increase excise duties on tobacco products to offset the impact of the GST/HST rate reduction. The Air Travellers Security Charge Act is also amended to ensure that rates for domestic and transborder air travel reflect the impact of the GST/HST rate reduction. Those amendments generally apply as of January 1, 2008.

Budget Economic Statement Implementation Act, 2007

[Peggy Nash, NDP, Parkdale—High Park, ON]

Mr. Speaker, I have more than bank vice-presidents in my riding. In have people who are living below the poverty level. These are people who in many cases are living in substandard housing. They are struggling and scratching every day of the week to try to support themselves and their children.

For the government to ignore the daily pressing reality of so many families in the city of Toronto is disgraceful. The government tries to divert attention and only says that it will give a corporate tax cut that will allow the banks to make even more profits through the neglect of the majority of people who are increasingly stretched to the limit.

Obviously, we want to help the economy. The economy is only healthy if so too are the people who depend on it. I can say to the hon. member that many people in my community, be they bank vice-presidents or others, want above all a fair society. They do not want to see so many people left behind. That is exactly what the government is doing.

[Penny Priddy, NDP, Surrey North, BC]

Mr. Speaker, I would like to ask the member for Parkdale—High Park this question. How does she see the lack of investment in infrastructure, particularly transit, affecting the economy in her riding?

[Peggy Nash, NDP, Parkdale—High Park, ON]

Mr. Speaker, when I meet with the board of trade or with small businesses in my community, they say the same thing. Because of the lack of investment in transit, the streets are clogged. We have gridlock in our city. Goods and services are delayed and are taking forever to get into our community. It is difficult for people to get to businesses. It increases staff time. It is a huge economic issue.

Clearly, previous governments did not invest sufficiently in transit. The current government is holding up funding for transit in our community. More transit is desperately needed. The city of Toronto has a blueprint for an effective expansion of transit in our community. All the city is waiting for is money from the federal government. My question for the government is, when is it going to deliver?

[Thomas Mulcair, NDP, Outremont, QC]

Mr. Speaker, I would like to ask my colleague a question. She was asked by the member for Wellington—Halton Hills if she finds any similarity between the government's position on a sole regulator for securities in Canada, which is something the government talks about here and in Ontario, but it is never mentioned when the government comes to Quebec.

Does she find a similarity in the position of my favourite poser, Gerald Kennedy, who is always against the recognition of Quebec as a nation when he is in Mississauga, but conveniently forgets to mention that when he is in Laval-des-Rapides?

[Peggy Nash, NDP, Parkdale—High Park, ON]

Mr. Speaker, it is very interesting how politics can sometimes trump common sense when it comes to the positions that members take on issues. It is important when we take a position on an issue, whether it is about sovereignty or finance, that we have the good of the entire country at heart and that we are true to those answers.

[Thomas Mulcair, NDP, Outremont, QC]

Mr. Speaker, the motion that is before us today seeks to provide a simple amendment to Bill C-28. It would remove a clause that the Conservatives intend to use to reduce the corporate tax rate.

I have been listening to several of the interventions from some of the Conservative members in the House. It has been very interesting. The argument goes something like this: we have to become more competitive with what exists elsewhere in the world.

One of the problems we have in Canada right now is that we have built, over the past century, a very balanced economy that includes a very strong resource sector. Of course, mining and forestry have always been the backbone of the Canadian economy, but we also have, especially since the second world war, built a very strong industrial base, especially in the central and eastern parts of Canada.

Because of the increase in the Canadian dollar's value, especially in the past year, the Canadian manufacturing sector has been under a lot of stress and strain. The same thing applies in particular to the forestry sector. Whether it be in Ontario or Quebec, we have seen a lot of companies closing. We see companies like Baronet, which is a wonderful Quebec company that has been manufacturing furniture since the 1940s, simply unable to compete with the current value of the Canadian dollar.

Instead of recognizing that in a country the size and the breadth of Canada that the government has to play a role in shaping the economy and maintaining it when there are these types of ups and downs that we have been going through, what have we got from the Conservatives? They have thrown themselves headlong into a race to see how quickly they could reduce the corporate tax rate.

What is the result of that? It is quite simple. In the forestry sector, companies have not made any profit in the past year simply because the Canadian dollar is so high and exports have become that more difficult for those companies. As a result, those companies will not benefit in any way, shape or form from this purported help that the Conservatives are providing. It is the same thing in the manufacturing sector, where very few companies have actually made a profit in the last year.

Who will get the $14 billion that the Tories are putting on the table and that they keep snapping their suspenders about? The companies that have made the biggest profits and that have been throwing the economy out of kilter, precisely the oil and gas sector, especially in the west, in Alberta to name it, where the companies have made huge profits in the past year.

Several companies will get cheques back from the government for $50 million, $60 million or $70 million because of the fact that we are reducing the corporate tax rate. It will benefit those companies that have made the most profit and therefore they should be paying the most taxes.

The banks are also in for a windfall. We all had the benefit of watching our current Finance Minister go cap in hand to the banks last year and ask them to do something about reducing the fees at ATMs, the automated teller machines. What happened? They told him to take a hike. He thinks they are his boss. He does not realize that he is in charge of regulating the banks in the public interest. They told him to get lost and he did. He came back to Ottawa, reported duly to the House, and said, “Sorry, they will not move”, and that is where it stayed.

It was the same thing earlier this year when he talked to the retail sector and asked them if they really found that it was fair that a product had two prices on it, one in Canadian dollars and one in U.S. dollars, and that the Canadian price was 35% higher than the U.S. price, given the fact that generally speaking in the past year our dollars have been pretty close to par. There was no problem there either. The retail sector told him he did not understand anything about inventories and sent him packing.

What is interesting is that when we look at the oil sector, no one ever argues that the existing inventories were bought at a lower rate. The minute there is an increase in the per barrel price of oil around the world, somehow the company that is pumping the oil into the tank in our basement, if we have oil-fired hot air at home, increases the rate overnight to go along with that worldwide increase. Anyhow, the argument of the companies works sometimes and not at other times.

The amendment before us would remove the tax cuts proposed by the Conservatives in their so-called mini-budget.

It is worth noting the following for everyone watching today: the Liberal Party of Canada is supporting the Conservative Party on these cuts for companies, for big corporations, such as the oil and gas companies and the banks. This is interesting, since the economy in Quebec is destabilized because of the massive increase in the production of oil and gas, which has caused the economy in the west to overheat. Instead of trying to alleviate the negative impact of this overheating in the west, what do the Conservatives propose? They would like to issue $50 or $60 million cheques in tax refunds to the oil companies.

What does that do for the manufacturers in Quebec and Ontario? What does that do for forestry companies in Quebec and Ontario that are in the process of shutting down, putting hundreds or thousands of families out on the street without a job? The Conservatives are doing absolutely nothing because they strongly believe that it is a mistake for the government to take care of the economy. They do not think that the government, even in a country as large as Canada, has a role to play. It means nothing to the Conservatives that this manufacturing sector has been built up over 60 years a mari usque ad mare. They are prepared to destroy this sector.

It is interesting to note that the Liberals tend to preach in major cities such as Toronto and to speak in favour of food banks. We forget that it would be worthwhile asking, when speaking to the managers of food banks and those working in this sector, what was the Liberal Party of Canada doing when the Conservatives were handing over a nice gift to the big oil companies? I will tell you what the Liberals were doing. They were sitting on their hands, as they have been doing since the beginning of this parliamentary session. Why are they doing nothing? Because they believe in nothing. They do not believe, not for one second, in the people who need help in our society. They do not at all believe that the government has a role to play in a modern and diversified economy such as that of Canada. The Liberal Party of Canada has a great deal of explaining to do.

Right now, the only political party that has the courage to stand up in this House, and to tell the public that we must help the manufacturing and the forestry sectors, is the New Democratic Party. The only political party with representation from British Columbia to Nova Scotia and a real chance to form the next government is the NDP. The people of Quebec and Ontario who believe that the government must play a more active role will vote for the New Democratic Party in the next election.

[Dean Del Mastro, Conservative, Peterborough, ON]

Mr. Speaker, I listened intently to what the member had to say. He is beating the same drum as the other NDP members who do not seem to understand that when we make the economy stronger overall, we provide more jobs and is that not what the government has done?

We had another record job producing month. After last month a record 17 million Canadians are working in this country. That is what the government has done for Canada. It is what we have done for the economy and that is the result of working with companies to build a stronger economy.

There is one thing on which I can agree with the member. The Liberal Party can get upset, jump up in the air flailing its hands, and come down firmly on both sides of every issue which means that it is very difficult to stand for anything in particular. But the member does not understand that not only are we assisting manufacturing, assisting forestry and industry but we are making all industry stronger which is going to result in better paying jobs for all Canadians.

I would love to know why the member does not support that?

[Thomas Mulcair, NDP, Outremont, QC]

Mr. Speaker, my colleague seems to have difficulty understanding that when we allow the economy to become as unbalanced as it is right now, and we start hollowing out a whole manufacturing sector that has been built since the second world war, we are not doing ourselves any favours.

It is not true that the jobs that are being created at Starbucks and at Wal-Mart are going to properly support families and allow us to replace the good paying jobs in the manufacturing sector.

I believe that he knows that and I also believe that he knows that his government is on the wrong track, and yet by ideological blindness he continues to convince himself, although he is not able to convince other Canadians, that his Tory government is right to allow the manufacturing and forestry sectors to simply die on the vine.

Look at the agricultural sector. We are going through the same problem right now. It has simply become too expensive to export. We have seen this type of economic problem before. It existed in Holland when hydrocarbons were found there in the 1950s. It emptied out its manufacturing sector and it took them a long time to rebuild a balanced economy.

We have the second largest country in the world but only a population of 33 million. We must have some form of assistance to maintain a balanced economy. That is what the Tories simply do not understand.

[Peter Stoffer, NDP, Sackville—Eastern Shore, NS]

Mr. Speaker, I want to narrow this down to a couple of people in my riding who are having great difficulty. This is about people who served their country with valour and honour and now are veterans. One of these people is the widow of a veteran.

Here is what happens. When we speak to officials at DVA privately over a glass of beer and with no microphones or anyone looking over their shoulder, they will tell you that the reason why they say no and deny so many people their proper rights and pensions is because they simply do not have the money. They would love to go public with that, but they cannot because we do not have proper whistleblower protection

I will give two examples. Chris Beattie is the widow of a veteran who served at Chalk River. Just before he died, DVA said to him that he was entitled to the veterans independence program. However, two days before the program was actually delivered, before DVA came to his house to deliver and assist with the VI program, he died. Because he died and because he did not actually receive the program, his spouse is not entitled to VIP.

Another example, which is reported in today's Chronicle-Herald, is that of a veteran firefighter with the Department of National Defence, 73 years old, who has been denied repeatedly for cancer and heart problems because of the smoke inhalation he suffered in his career.

The province recognizes that pension disability, but DVA says no. With a $14 billion surplus, does the member not think that for their service to their country the government can assist people to have some semblance of a decent life ?

[Thomas Mulcair, NDP, Outremont, QC]

Mr. Speaker, my colleague just pointed out a glaring example of where the Tories are wrong. Instead of giving a $14 billion tax break to the large oil companies and to the banks, of course we should be taking care of veterans and their families and providing them with a proper allowance. Those are the types of things that governments are there for.

Governments are there to take care of people. Unfortunately, for the Conservatives it is more important to take care of corporations. That is the difference between the New Democratic Party and the Conservatives. It is something that people will be able to concentrate on at the next election. Of course, when they look at the Liberals sitting on their hands, they will also be able to understand that they do not constitute an option any more.

[The Acting Speaker, Andrew Scheer]

We will move to resuming debate now. The hon. member for Sackville--Eastern Shore will have about four minutes and then will be interrupted for question period. After that, he then can finish his remarks.

[Peter Stoffer, NDP, Sackville—Eastern Shore, NS]

Mr. Speaker, I was very proud a couple of years ago to stand with the NDP caucus and amend the budget at that time to eliminate the corporate tax cuts and put that forward for the reinvestment of $4 billion in things such as public transit and housing. I will never forget the current Minister of Human Resources and the current Minister of National Defence ripping up Bill C-48, saying that this was fiscally irresponsible and was going to do damage to our nation.

And what did they do when they formed the government? The Minister of National Defence, as the Minister of the Atlantic Canada Opportunities Agency, was in Halifax giving out a cheque for public transit, money that the NDP fought for in the budget. The Conservatives can howl all they want, but the reality is that when banks and petroleum companies are making record profits under the current tax regime, giving them tax breaks is not the answer.

If we really want to give people a tax break, we can eliminate taxes on funerals and crematorium services. We can eliminate taxes on over the counter drugs. We can eliminate taxes, for example, on home heating essentials, as we are advocating in Nova Scotia. That is a good tax break. We also can help the poorest of the poor and stop taxing their disability pensions, for example. That is where good tax relief should go.

I have always believed in a one-third, one-third and one-third approach: one-third of the budget on debt relief, one-third on strategic tax incentives and one-third on social reinvestment. But those folks over there put the vast majority of it to the most profitable corporations.

What do we tell veterans and their widows? We cannot help them. What do we tell fishermen and their communities? We cannot help them. What do we tell the Inuit in the far north who are trying to get housing? We cannot help them. What do we tell students who are struggling under massive debts? We cannot help them. What do we tell parents with autistic children who are struggling to pay for the treatment the children require? We cannot help them.

It goes on and on. I remind the government about the children at Base Petawawa. When some of those kids whose fathers died in Afghanistan were having psychological problems, we asked a question in this House and the Minister of Health's response was that mental health issues are “a provincial responsibility”. What nonsense. They were kids from a military base who required assistance. Thank goodness for the report of Ontario ombudsman André Marin, who slammed both the Ontario government and the federal government. We are glad to see that there was an arrangement after that.

However, we should not have had to have a report. We should not need to have media influence in order to do the right thing. If the government has this kind of surplus, when is it going to invest in the people and communities of this country? My colleague from Toronto is absolutely correct, but it is not just Toronto that is struggling under a massive infrastructure debt. Halifax and others are as well. I will continue this right after question period, Mr. Speaker.

The House resumed consideration of Bill C-28, An Act to implement certain provisions of the budget tabled in Parliament on March 19, 2007 and to implement certain provisions of the economic statement tabled in Parliament on October 30, 2007, as reported (without amendment) from the committee, and of Motion No. 1.

Budget and Economic Statement Implementation Act, 2007

[The Speaker, Peter Milliken]

Before the debate was interrupted, the hon. member for Sackville—Eastern Shore had the floor and he has seven minutes remaining in the time allotted for his remarks. I therefore call upon the hon. member for Sackville—Eastern Shore.

[Peter Stoffer, NDP, Sackville—Eastern Shore, NS]

Mr. Speaker, again I am going back to the issue of the day, which is the big difference between those of us in the NDP and those in the Conservative and Liberal Parties.

We in the NDP believe in the collective. We believe that the government can be a source of good for Canadians across this country from coast to coast to coast. We also believe that the resources of this country should benefit Canadians. As well, we should be able to share our expertise and wealth with those around the world who are struggling for human rights and human dignity and also on the environment, education, health, et cetera.

However, also within our own country there are many who are veterans and widows of veterans, who have been promised certain things by the government and have been denied. As my colleagues used to say, there is no greater fraud than a promise that has been broken.

On June 28, 2005, when the current Prime Minister was then opposition leader, he promised Joyce Carter of Cape Breton that if the Conservatives formed the government they would immediately extend the VIP services for all widows and veterans of World War II and Korea. Twenty-two months later, there is still nothing.

Also, when the Prime Minister and the member for New Brunswick Southwest, who is now the Minister of Veterans Affairs, were in opposition, they said publicly in Gagetown and during the campaign in 2005 that they would look after and compensate all those victims of defoliant spraying in Gagetown from 1956 to 1984. “All” of them is what they said. They recently came out with a package that covers only those in 1966 and 1967, which is exactly what the Liberals had proposed beforehand.

The Conservatives in New Brunswick were elected on that promise and they broke that promise. It is unconscionable that a government that is like Scrooge McDuck, sitting on a pile of coins, loonies, toonies and cash, is not able to help those who served their country with such distinction and honour.

I recently toured the north. One of the most outrageous conditions people there are living with is extremely crowded housing. They simply do not have enough housing to go around. We talk about Arctic sovereignty, first nations rights and helping aboriginal people and improving their health, yet the government does very little, if anything, to solve the housing crisis of the far north.

It does not take a rocket scientist to understand this. After travelling to Resolute, Grise Fiord, Arctic Bay or Iqaluit and the other communities of the great territory of Nunavut, one understands that there is a terrific housing shortage going on. If the government is not going to help when it has billions and billions of dollars of surplus, when is it going to do so?

As I said earlier, a colleague of mine who just got back from Afghanistan said the mission in Afghanistan will not end until the final soldier who serves in that country passes away. What he meant by that was quite clear. A lot of the individuals coming back from Afghanistan are going to suffer from mental and physical disabilities. A lot of them are going to require long term care. They and their families are going to need that care for the rest of their lives. That is what he was referring to: the mission will continue in their lives. It is the same for people who lose loved ones in Afghanistan. For them, Remembrance Day is every day.

The government has billions of dollars for the mission in Afghanistan. We argued that point the other day. The reality is that it is not hesitant to spend money on the actual mission itself, but when the government is asked what contingency funds are put aside to help with the mental and physical disabilities the soldiers and their families may have down the road, the answer is zero.

I reiterate to the government: if it cannot do this now, when it has surpluses, when is it going to do it? I advise the government to make sure there is enough money put aside to ensure the proper care and treatment down the road of those brave men and women who serve their country.

Also, one of the greatest opportunities we have for economic development in this country is shipbuilding. The industry committee unanimously adopted a resolution that the accelerated capital allowance, or ACA, proposal should go from two years to five years, yet the government still has not done that. Those in the shipbuilding industry would like the same considerations that the government has been giving to the aerospace industry in Quebec for a long time.

We have approximately $20 billion worth of construction to do on naval replacement vessels, Coast Guard replacement vessels, ferries, the laker fleet, tugs, et cetera. We have five remaining shipyards in this country that could do that type of work.

I would encourage the government to ensure that the domestic procurement process enables those workers and those industries in those yards across the country, in Victoria, Vancouver, Port Welland, Lévis, Halifax, and Marystown in Newfoundland and Labrador,to have the opportunity for long term sustainable growth. That way, especially in Atlantic Canada, people would not have to go down the road to find work.

Those are some of the things the budget should be addressing.

Other issues, of course, are seniors and student debt.

We in Halifax have the privilege of being one of the education breadbaskets of Canada, but so many students who come to our schools get their education and leave with a massive debt. That cripples them in their opportunities down the road and they make choices that they normally would not like to make, such as having to move to the United States or other parts of Canada. We would like them to be able to work and find their livelihood right in Atlantic Canada, but saddling them with a massive debt is unconscionable.

We in the NDP were very proud to rewrite the last budget of the Liberals when they turned around, drafted Bill C-48, took away the corporate tax cuts and reinvested that in housing, public transit and student education. I was very pleased to see that the Premier of Nova Scotia just recently authorized a $400 rebate for students in our province.

These are some of the things the budget should be doing. I would be happy to answer any questions that members of the House of Commons may have.