Bill C-15 (Historical)

Budget Implementation Act, 2016, No. 1.

An Act to implement certain provisions of the budget tabled in Parliament on March 22, 2016 and other measures

Part 1 implements certain income tax measures proposed in the March 22, 2016 budget by
(a) eliminating the education tax credit;
(b) eliminating the textbook tax credit;
(c) exempting from taxable income amounts received as rate assistance under the Ontario Electricity Support Program;
(d) maintaining the small business tax rate at 10.‍5% for the 2016 and subsequent taxation years and making consequential adjustments to the dividend gross-up factor and dividend tax credit;
(e) increasing the maximum deduction available under the northern residents deduction;
(f) eliminating the children’s arts tax credit;
(g) eliminating the family tax cut credit;
(h) replacing the Canada child tax benefit and universal child care benefit with the new Canada child benefit;
(i) eliminating the child fitness tax credit;
(j) introducing the school supplies tax credit;
(k) extending, for one year, the mineral exploration tax credit for flow-through share investors;
(l) restoring the labour-sponsored venture capital corporations tax credit for purchases of shares of provincially registered labour-sponsored venture capital corporations for the 2016 and subsequent taxation years; and
(m) introducing changes consequential to the introduction of the new 33% individual tax rate.
Part 1 implements other income tax measures confirmed in the March 22, 2016 budget by
(a) amending the anti-avoidance rules in the Income Tax Act that prevent the conversion of capital gains into tax-deductible intercorporate dividends;
(b) qualifying certain costs associated with undertaking environmental studies and community consultations as Canadian exploration expenses;
(c) ensuring that profits from the insurance of Canadian risks remain taxable in Canada;
(d) ensuring that the dividend rental arrangement rules under the Income Tax Act apply where there is a synthetic equity arrangement;
(e) providing specific tax rules in respect of the commercialization of the Canadian Wheat Board, including a tax deferral for eligible farmers;
(f) permitting registered charities and registered Canadian amateur athletic associations to hold limited partnership interests;
(g) providing an exemption to the withholding tax requirements for payments by qualifying non-resident employers to qualifying non-resident employees;
(h) limiting the circumstances in which the repeated failure to report income penalty will apply;
(i) permitting the sharing of taxpayer information within the Canada Revenue Agency to facilitate the collection of certain non-tax debts; and
(j) permitting the sharing of taxpayer information with the Office of the Chief Actuary.
Part 2 implements certain goods and services tax/harmonized sales tax (GST/HST) measures proposed in the March 22, 2016 budget by
(a) adding insulin pens, insulin pen needles and intermittent urinary catheters to the list of GST/HST zero-rated medical and assistive devices;
(b) clarifying that GST/HST generally applies to supplies of purely cosmetic procedures provided by all suppliers, including registered charities;
(c) relieving tax to ensure that when a charity makes a taxable supply of property or services in exchange for a donation and an income tax receipt may be issued for a portion of the donation, only the value of the property or services supplied is subject to GST/HST;
(d) ensuring that interest earned in respect of certain deposits is not included in determining whether a person is considered to be a financial institution for GST/HST purposes; and
(e) clarifying the treatment of imported reinsurance services under the GST/HST imported supply rules for financial institutions.
Part 2 also implements other GST/HST measures confirmed in the March 22, 2016 budget by
(a) adding feminine hygiene products to the list of GST/HST zero-rated products; and
(b) permitting the sharing of taxpayer information in respect of non-tax debts within the Canada Revenue Agency under certain federal and provincial government programs and in respect of certain programs where information sharing is currently permitted under the Income Tax Act.
Part 3 implements certain excise measures proposed in the March 22, 2016 budget by
(a) ensuring that excise tax relief for diesel fuel used as heating oil or to generate electricity is targeted to specific instances; and
(b) enhancing certain security and collection provisions in the Excise Act, 2001.
Part 3 also implements other excise measures confirmed in the March 22, 2016 budget by permitting the sharing of taxpayer information in respect of non-tax debts within the Canada Revenue Agency under certain federal and provincial government programs and in respect of certain programs where information sharing is currently permitted under the Income Tax Act.
Division 1 of Part 4 repeals the Federal Balanced Budget Act.
Division 2 of Part 4 amends the Canadian Forces Members and Veterans Re-establishment and Compensation Act to, among other things,
(a) replace “permanent impairment allowance” with “career impact allowance”;
(b) replace “totally and permanently incapacitated” with “diminished earning capacity”;
(c) increase the percentage in the formula used to calculate the earnings loss benefit;
(d) specify when a disability award becomes payable and clarify the formula used to calculate the amount of a disability award;
(e) increase the amounts of a disability award; and
(f) increase the amount of a death benefit.
In addition, it contains transitional provisions that provide, among other things, that the Minister of Veterans Affairs must pay, to a person who received a disability award or a death benefit under that Act before April 1, 2017, an amount that represents the increase in the amount of the disability award or the death benefit, as the case may be. It also makes consequential amendments to the Children of Deceased Veterans Education Assistance Act, the Pension Act and the Income Tax Act.
Division 3 of Part 4 amends the sunset provisions of certain Acts governing federal financial institutions to extend by two years, namely, from March 29, 2017 to March 29, 2019, the period during which those institutions may carry on business.
Division 4 of Part 4 amends the Bank Act to facilitate the continuance of local cooperative credit societies as federal credit unions by granting the Minister of Finance the authority to provide transitional procedural exemptions, as well as a loan guarantee.
Division 5 of Part 4 amends the Canada Deposit Insurance Corporation Act to, among other things, broaden the Corporation’s powers to temporarily control or own a domestic systemically important bank and to convert certain shares and liabilities of such a bank into common shares.
It also amends the Bank Act to allow the designation of domestic systemically important banks by the Superintendent of Financial Institutions and to require such banks to maintain a minimum capacity to absorb losses.
Lastly, it makes consequential amendments to the Financial Administration Act, the Winding-up and Restructuring Act and the Payment Clearing and Settlement Act.
Division 6 of Part 4 amends the Office of the Superintendent of Financial Institutions Act to change the membership of the committee established under that Act so that the Chairperson of the Canada Deposit Insurance Corporation is replaced by that Corporation’s Chief Executive Officer. It also amends several Acts to replace references to that Chairperson with references to that Chief Executive Officer.
Division 7 of Part 4 amends the Federal-Provincial Fiscal Arrangements Act to authorize an additional payment to be made to a territory, in order to take into account the amount of the territorial formula financing payment that would have been paid to that territory for the fiscal year beginning on April 1, 2016, if that amount had been determined using the recalculated amount determined to be the gross expenditure base for that fiscal year.
Division 8 of Part 4 amends the Financial Administration Act to restrict the circumstances in which the Governor in Council may authorize the borrowing of money without legislative approval.
Division 9 of Part 4 amends the Old Age Security Act to increase the single rate of the guaranteed income supplement for the lowest-income pensioners by up to $947 annually and to repeal section 2.‍2 of that Act, which increases the age of eligibility to receive a benefit.
Division 10 of Part 4 amends the Special Import Measures Act to provide that a finding by the President of the Canada Border Services Agency of an insignificant margin of dumping or an insignificant amount of subsidy in respect of goods imported into Canada will no longer result in the termination of a trade remedy investigation prior to the President’s preliminary determination. It also provides that expiry reviews may be initiated from a date that is closer to the expiry date of an anti-dumping or countervailing measure and makes amendments related to that new time period.
Division 11 of Part 4 amends the Pension Benefits Standards Act, 1985 to combine the authorities for bilateral agreements and multilateral agreements into one authority for federal-provincial agreements, and to clarify that federal-provincial agreements may permit the application of provincial legislation with respect to a pension plan.
Division 12 of Part 4 amends the Employment Insurance Act to, among other things,
(a) increase, until July 8, 2017, the maximum number of weeks for which benefits may be paid to certain claimants in certain regions;
(b) eliminate the category of claimants who are new entrants and re-entrants; and
(c) reduce to one week the length of the waiting period during which claimants are not entitled to benefits.
Division 13 of Part 4 amends the Canada Marine Act to allow the Minister of Canadian Heritage to make payments to Canada Place Corporation for certain celebrations.
Division 14 of Part 4 amends the Jobs, Growth and Long-term Prosperity Act to authorize the Minister of Infrastructure, Communities and Intergovernmental Affairs to acquire the shares of PPP Canada Inc. on behalf of Her Majesty in right of Canada. It also sets out that the appropriate Minister, as defined in the Financial Administration Act, holds those shares and authorizes that appropriate Minister to conduct, with the Governor in Council’s approval, certain transactions relating to PPP Canada Inc. Finally, it authorizes PPP Canada Inc. and its wholly-owned subsidiaries to sell, with the Governor in Council’s approval, their assets in certain circumstances.
Division 15 of Part 4 amends the Canada Foundation for Sustainable Development Technology Act to modify the process that leads to the Governor in Council’s appointment of persons to the board of directors of the Canada Foundation for Sustainable Development Technology by eliminating the role of the Minister of Natural Resources and the Minister of the Environment as well as the consultative role of the Minister of Industry from that process. It also amends the Budget Implementation Act, 2007 to provide that a sum may be paid out of the Consolidated Revenue Fund to the Foundation on the requisition of the Minister of Industry and to clarify the maximum amount of that sum.

Second Reading

[John Aldag, Liberal, Cloverdale—Langley City, BC]

Mr. Speaker, as I noted, there has been discussion on the items contained within the budget. For me, a really critical piece is the Canada child benefit. My understanding is that the legislation needs to be passed for that program to roll out.

In my riding of Cloverdale—Langley City, during the campaign and right through until today, the number one issue I keep hearing about is the cost of living for Canadians and trying to ahead, particularly families with young children. This bill would do great things for families that are struggling to make ends meet, or that want to put their kids in activities.

We need to move forward with the discussion, the vote on the bill, and the implementation of it, so we can get the funds flowing to families that need it the most.

[Gabriel Ste-Marie, Bloc, Joliette, QC]

Mr. Speaker, I am pleased to have the opportunity to speak to Bill C-15, although this is the third time we have had a gag order imposed on us. I consider myself lucky to be able to speak in the House, considering the limited time we have left to debate it.

The first gag order was imposed when we were debating the bill to amend the Air Canada Public Participation Act, which was an attack on aerospace workers. In that instance, not one Bloc Québécois member was able to speak, since we did not even make it to the 34th round of debate. I therefore plan to use my time wisely.

The first point I want to raise regarding Bill C-15 has to do with tax havens. The government prides itself on having made a significant investment of $444 million to go after tax cheats and crooks who use tax havens. Unfortunately, the problem of tax havens cannot be considered part of the criminal underworld. The problem is that using tax havens is actually legal.

The changes were made by regulation. We have $200 billion in Canadian investment assets in the 10 main tax havens, including $80 billion in the largest tax haven, Barbados. It seems like the government is pulling out all the stops to fix a leaky faucet when it should be focusing on the water heater that exploded.

I would add that the government knows a thing or two about tax havens. For example, the Minister of Finance has a company that has subsidiaries in the Bahamas and in Delaware. The minister also helped draft the regulations for the insurance industry in the Bahamas, Belize, Grenada, and Turks and Caicos. These are all tax havens that might attract Canadian and Quebec insurers who want to avoid paying taxes.

The government members have a thorough understanding of how tax havens work and of this problem. They should be generous and share their knowledge with the government in order to resolve this problem.

In fact, the former associate of the Parliamentary Secretary to the Minister of Finance, whom he knows very well, also has dealings in the tax havens, in Turks and Caicos. The Liberals' vast knowledge of tax havens is nothing new. Hon. members will recall the story of former finance minister Paul Martin and his ships that are registered in the Antilles.

I call on the Liberals to use their knowledge to help the House fix the problem of tax havens. The crooks are not the problem. The problem is that the legislation and regulations were changed without the House ever addressing the issue or having a vote on the matter. I urge the government and its members to fix the problem of tax havens.

Bill C-15 contains 75 pages of amendments to the Income Tax Act and its regulations. However, it does not contain any measures to address the regulatory issue, even though there is much to be done. The government already knows that, so I urge it to take action.

Otherwise, the members of the Bloc Québécois will vote against Bill C-15 for other reasons. There is the matter of tax havens, but there are also many other problems as well. Bill C-15 is 177 pages long. We read it carefully and conducted a detailed analysis. The bill is nothing new. It repeats what was announced in the budget, which we also carefully examined.

The budget and Bill C-15 do not meet Quebec's specific needs. There is nothing for cities to help leading-edge sectors, so the budget and Bill C-15 do not support Quebec's urban areas. There is also noting for rural areas, agriculture, forestry, or the fishery. Land use, economic activity, and regional jobs are important to us. The government should have taken concrete action in that regard.

There is also nothing or very little for unemployed workers, those who have been shut out of the job market. For example, the time limit extensions and enhanced measures target oil regions and exclude Quebec. We were very unhappy and disappointed with that. The budget and Bill C-15 are particularly focused on infrastructure investments, but these investments are not well-thought-out.

There is a funding model that can be used to quickly and efficiently transfer money to Quebec and the municipalities, and that is the gas tax. During the election campaign, the government announced that it would do that. What is actually happening? Three-quarters of the funding announced will come from the old building Canada fund. Members will remember that it took 27 months, or more than two years, to create a framework agreement. People argued about the size of billboards, for example. On average it took another 15 months per project to obtain authorizations. There were discussions about the size of the flag, or they wanted this or that.

Huge investments have been announced, but they will represent a significant amount of debt. Taxpayers in every province, and also in Quebec, will have to pay down that debt. In exchange, we should at the very least have quick access to the money borrowed in order to put it to good use and launch infrastructure programs as quickly as possible.

During the election campaign, the government made a commitment to do that. In Bill C-15, in the budget, the government is going back on its word. That is very disappointing. That is one of the things that I deplore.

Once again, I was very disappointed about the money for community, social, cultural, and sports infrastructure. The money allocated for these types of infrastructure was incorporated into the propaganda funding for Canada's 150th anniversary. The amount is two times higher than the amount for the sponsorship program, and who could forget that scandal. We have to wonder about these members' memories. They are falling back into their old patterns.

The transfers and funding for health care, education, and social services in this budget are also disgraceful. These are services provided by the provinces. There are huge needs in Quebec, and this is evident in my riding and across the province. There are huge needs. These days, it is all about austerity measures. The Government of Quebec is suffocating, as are the other provinces. They have no breathing room, because that breathing room is here, in the House.

The government must restore the health transfers to at least one-quarter of funding. I remind members that in the 1970s, Ottawa funded half of health care spending. Now, we are seeing never-ending cuts, and transfers will drop as low as 18%. Health transfers need to be increased by 6% a year, so that they cover one-quarter of funding. That is the least we can do. The public is getting fewer services. Things are not going well. There are problems.

The same goes for social services and education. The government needs to play catch-up to get back to where we were in the 1990s before the brutal cuts were made.

I briefly mentioned employment insurance earlier. Extensions apply only to certain regions. These measures are not unilateral, and Quebec is being left out. That brings me to the problem of black holes.

Workers are not seasonal; jobs are. Workers do not work enough hours in the summer. They collect their benefits for a period of time, and after that, they have nothing to live on. When people rely on employment insurance for their income, they do not have enough money to save up so they can make it through the black hole. This is a great injustice that must be put right.

The same goes for the employment insurance fund. Why is it still part of the public purse? It is not separate. Over the past year, the government has siphoned $1.7 billion out of the employment insurance fund and spent that money elsewhere on other programs.

Employment insurance is not insurance anymore. It is a tax on work. Not even four out of 10 workers who lose their jobs have access to EI. It is not insurance. It is a tax. For women, only one in three workers has access to employment insurance; two out of three are excluded. For young people, it is even worse. Employment insurance is no longer really playing its role as insurance, providing people with a transition period to turn around and find new work. It is a tax on work. It is deplorable.

I am running out of speaking time, but I still have a lot to say on the innovation economy. Canada falls short when it comes to measures for business research. Quebec depends on that. We have high technology. Quebec's needs are not met in Bill C-15 and the budget. That is why we are voting against the bill.

[Kevin Lamoureux, Liberal, Parliamentary Secretary to the Leader of the Government in the House of Commons]

Mr. Speaker, there is a lot in the budget implementation bill that Canadians want to see. Through the budget implementation bill, the Canada child benefit will be enhanced, and this will lift thousands of children out of poverty. For so many years, we have heard about the need to support our seniors. The proposed increase to the guaranteed income supplement will substantially support seniors on fixed incomes who need the top-up. It will be hundreds of additional dollars. These programs are going to take effect starting July 1. Bill C-15 is a progressive piece of legislation that will meet the social concerns of Canadians, along with a great deal more.

Would the member not acknowledge that a great number of Canadians will benefit from the passage of the budget implementation bill?

[Gabriel Ste-Marie, Bloc, Joliette, QC]

Mr. Speaker, I thank my colleague for his question.

I agree completely that there are some good things in the budget. It is not all black or all white. We always have to look at the grey areas. We believe that the most essential elements are missing, but it does contain some good measures.

We completely agree that the new family allowance will have a positive and real impact on families. We asked that it be tax-free, and it is, which is fantastic.

The same can be said of improvements to the guaranteed income supplement, a cause that has been important to the Bloc Québécois for quite some time. We have been asking for this since 2007, so we are very pleased to see it in Bill C-15.

We visited seniors all over Quebec. We moved five opposition day motions in the House. We got the Quebec National Assembly to pass two unanimous resolutions on this issue. Now it is included in the budget and Bill C-15. We are very pleased about that.

The budget contains other good measures, such as reinstating the tax credit for labour-sponsored funds, which will help innovative small businesses. It contains some good measures.

However, as for the essentials, the needs of Quebec, particularly concerning health transfers, how infrastructure investments are transferred, employment insurance, innovation, and tax havens, the Liberals have missed the boat, and that is what we are denouncing here in the House. I hope all that will be restored.

[Brigitte Sansoucy, NDP, Saint-Hyacinthe—Bagot, QC]

Mr. Speaker, I would like to thank my colleague for his speech.

I am glad that he mentioned that it was a privilege for him to rise in the House to speak to this issue. In my opinion, Quebeckers who thought they were voting for change by voting Liberal must be disappointed.

This government claims that it wants to be open and transparent, but the fact that it introduced an omnibus bill followed by a gag order clearly shows that nothing has changed. We are in the same boat we were in for the past 10 years while the Conservatives were in office.

I am also glad that my colleague spoke about the problem of tax havens because, by forgoing that revenue, the government is not playing its role as a distributor of wealth. We know that the gap between the rich and poor is widening. The 100 richest Canadians now hold as much wealth as the bottom 10 million combined.

Is the government failing to do as much as it could because it is forgoing this revenue?

Yes, the government is helping seniors, but it could have done a lot more. The government introduced measures to help lift seniors out of poverty, but it could have done a lot more in terms of employment insurance and support for regional economic development, particularly support for SMEs and innovation.

[Gabriel Ste-Marie, Bloc, Joliette, QC]

Mr. Speaker, I would like to thank my colleague from Saint-Hyacinthe—Bagot for her question and her excellent comments. We completely agree that the government could have gone a lot farther.

Tax havens are the elephant in the room. The poor, the middle class, and even the upper middle class do not have a lot of breathing room. They are paying more and more and receiving fewer and fewer services. Money is getting tighter and tighter for some of these people, while special rules apply only to the wealthiest 1% or even 0.1%, who are ragging the puck, as they say.

That needs to change. It is not fair. The government could do a lot more. For example, Canadians who are eligible for the guaranteed income supplement should receive it automatically.

[Yves Robillard, Liberal, Marc-Aurèle-Fortin, QC]

Mr. Speaker, although the budget was tabled in March, I rise today in the House to add my voice to those who have already praised it.

I would like to start by taking a moment to once again thank the people of Marc-Aurèle-Fortin, who put their trust in me. As I rise today, I am well aware that because of them, I have the privilege of representing them here in the House. Like all of my fellow MPs, I worked diligently and tirelessly in my riding to earn my seat here in the House. Of course, I did not take this long journey alone, and I had the help of many absolutely wonderful people. First and foremost, I got into politics because I am motivated by my constituents, who make me so proud and energize me. I am committed to helping them and representing them.

During my very first speech in the House, I said that my riding, Marc-Aurèle-Fortin, was enriched by its people. I was blessed to witness these riches myself when I had the pleasure of being invited back home to Laval to celebrate the noteworthy birthdays of two vivacious women in my riding. These young centenarians are living proof of the essence and spirit of Marc-Aurèle-Fortin, and their smiles are still contagious at 101 and 102 years old.

The Prime Minister and the government are committed to improving the quality of life for seniors, such as these two illustrious ladies from my riding who have seen this country grow through the years. Earlier this year, my hon. colleague, the member for Yukon, mentioned that one grades the success and efficiency of a country by how it treats its most vulnerable.

The government's budget helps build our society brick by brick. We are working on making our society one that looks after our seniors and the most vulnerable.

We should keep in mind the following Greek proverb: “A society grows great when old men plant trees whose shade they know they shall never sit in.” It is right and just. However, we can provide our mothers and fathers with the support they deserve. It is imperative that we treat our seniors with dignity and respect, as that is what everyone deserves.

Our government believes that this requires more than just talk, and that is why we are opting for real measures. For example, speaking of seniors' dignity, I would remind the House that the government, under the leadership of the Prime Minister, made a commitment in budget 2016 to return the eligibility age for old age security and the guaranteed income supplement to 65 rather than leaving it at 67. The previous government had increased the eligibility age from 65 to 67. Because of this shameful and prejudicial measure, our seniors, the oldest and most vulnerable members of our society were going to be hit hard and could have lost up to $28,000.

Today, the government, under the Prime Minister's leadership, has a different and forward-looking vision, one that also puts seniors at the centre of these priorities. Instead of taking away money they earned after contributing to the community for years, our budget 2016 will return the eligibility age for old age security and the guaranteed income supplement to 65.

Our government pledged to provide seniors with a secure, dignified retirement. This measure will give Canadians thousands of dollars once they become seniors. We will also increase the guaranteed income supplement by $947 per year for the most vulnerable seniors living alone. That is nearly $1,000 that will go directly into the pockets of the most vulnerable, who were, unfortunately, the first to be forgotten in the past. This measure amounts to over $670 million per year and will improve the financial security of 900,000 seniors living alone across Canada.

Nine hundred thousand seniors in Laval, in Marc-Aurèle-Fortin, and all over Canada can count on the federal government, which cares about their well-being. This government will uphold its end of the social contract stating that people who have made a life-long, honourable contribution to society should be able to relax and enjoy their golden years without constantly worrying about ending up penniless.

My colleagues and I and everyone working every day on the Hill have been pleased to see the nice weather and the return of spring and warmer days. We cannot look out at the green lawn in front of Parliament without seeing young people gathering together and having a nice time. Those young people who come out in the nice weather to the seat of Canadian democracy are part of that contract. They look forward to working and contributing to our society. We must respect their future and respect our seniors who once upon a time were the young people spending time in front of this place. We must assure these people that they will not have to be concerned about not having enough money. We must give them hope and peace of mind in their old age. When they come back to visit their Parliament, these older men and women who used to come and play here should not come back feeling bitter about this place, but feeling joyful and grateful.

For the young people and seniors of the past, present, and future, our society has to head in that direction. That is what our government promised, and thanks to budget 2016, we can proclaim loud and clear that our government took action.

[Dianne Lynn Watts, Conservative, South Surrey—White Rock, BC]

Mr. Speaker, the member wants accurate information, and he knows that the previous Conservative government did not raise the age to 67. In fact, that was going to be implemented in 2020. I know he wants to ensure that is correct information.

The member mentioned very eloquently the trust of his constituents and how they and Canadians across the country have given him trust. I want to ask the member if he can comment on how his constituents feel about there having been a promise during the election of a $10-billion deficit and that it is now three times that amount with no plan for a balanced budget.

[Yves Robillard, Liberal, Marc-Aurèle-Fortin, QC]

Mr. Speaker, I need not answer that question because the budget is clear: we are here for our seniors.

I can assure hon. members that in my riding every senior will benefit from this very logical and well-received measure.

[The Deputy Speaker, Conservative, Bruce Stanton]

It seems that the translation was not working there.

Could the hon. member for Marc-Aurèle-Fortin repeat the last 30 seconds of his comments?

[Yves Robillard, Liberal, Marc-Aurèle-Fortin, QC]

Mr. Speaker, I was saying that naturally, contrary to what members across the way think, the seniors in Marc-Aurèle-Fortin are very happy with the measures that our government is putting in place. They will benefit all seniors throughout Canada and not just those in Marc-Aurèle-Fortin.

[Ruth Ellen Brosseau, NDP, Berthier—Maskinongé, QC]

Mr. Speaker, I thank my colleague for his speech in the House today.

In his remarks, he talked about the budget and the importance of supporting seniors and young people. However, the budget tabled by the Liberal government makes no mention whatsoever of agriculture, and yet we all know how important agriculture is to the Canadian economy.

The previous Conservative government had promised funding, specifically $4.3 billion in compensation for the dairy and poultry industries in light of certain trade agreements. This compensation is really important.

However, the budget tabled by the Liberal government makes no mention whatsoever of agriculture or compensation for those industries.

I would like the member for Marc-Aurèle-Fortin to comment on that.

[Yves Robillard, Liberal, Marc-Aurèle-Fortin, QC]

Mr. Speaker, I thank my colleague for her question.

My speech this morning was really about seniors all across Canada. This does not mean that I do not support measures for farmers and measures in other areas.

Today I simply wanted to emphasize the support that we are providing to our seniors. This measure represents an investment of over $670 million a year. It will improve the financial security of about 900,000 seniors across Canada and lift 13,000 seniors out of poverty.

[Todd Doherty, Conservative, Cariboo—Prince George, BC]

Mr. Speaker, there is a reason why my hon. colleague across the floor does not want to answer that and wants to focus on the seniors. Again, he did not answer my hon. colleague about the agriculture.

Another string of broken promises is what we are seeing with the Liberal government. The Liberals campaigned on following through with what our Conservative government laid the ground work for, lowering small business tax to 9%, and indeed, when they got into power, they decided they would keep it at 10.5%.

My question is this. Why is the government so keyed in on punishing small business? The parliamentary budget officer just tabled a report that this would cost millions in GDP and thousands of jobs throughout Canada. The Liberals are negligent toward small business, and I am wondering why they are punishing small business owners.

[Yves Robillard, Liberal, Marc-Aurèle-Fortin, QC]

Mr. Speaker, I thank the member for his question.

It is important to understand that not only has the Minister of Finance often talked about it, but it is also included in the budget. I would ask the members to reread the budget. Maybe then they will change their minds and support it.