Madam Speaker, I am pleased to finish my speech from yesterday regarding Bill C-44, the line of credit bill.
I started my speech yesterday with a description of what my oldest son said about the bill when I told him it was $100 billion of debt with which he and his generation would be stuck. His comment was “What the heck, Dad. Thanks for sticking us with this bill.”
Before I was cut off at the end of the day yesterday, I finished my part talking about the Liberals' propensity for how much they consulted on the budget. I would absolutely love to meet the people who said yes to higher taxes on oil and gas exploration. I will take a wild guess that it is not the energy workers whose jobs rely on the energy development projects. Canadians who said yes to higher taxes on the oil and gas industry are probably the same ones who told the Prime Minister to leave the oil in the ground.
I am not surprised the Prime Minister listened to that advice, but I am stunned that the four Liberal MPs from Alberta sit idle, while the government writes into the budget how it will use the tax system to reduce emissions and greenhouse gases, and by extension, phase out the oil sands. The government is fine for hundreds of millions of dollars in bailouts and bonuses for Bombardier to make energy-guzzling, greenhouse gas belching planes, and hundreds of millions in taxpayer dollars for its Ontario auto industry for cars running, surprisingly, on gas. However, for Alberta's energy industry it will use the tax system to phase it out, and make a special effort to tell everyone by placing it right in the budget.
By 2021, Canada will be $102 billion further into debt, which is an average of $4,000 per taxpayer that needs to be paid back. The Liberals promised that this deluge of spending would lead to unprecedented levels of of economic growth. Just one year ago, they were musing about a multiplier effect of three to four times the size of the investment. It turns out they were wrong, and we got 1.7% growth.
The Globe and Mail noted that the bulk of the Liberal deficit spending had not been about infrastructure. It is borrowing for groceries more than the mortgage. The question is whether the Liberals, who have repeatedly moved the goal post, will be able to live within this constraint.
What are those billions actually going toward? Innovation? I wonder if the government knows what innovation means, if it actually has a definition, or if it is just like the middle class. The Liberals do not know what it is, they cannot define it, but it sounds pretty good so they will repeat it a few hundred times and hope something happens.
The budget is innovative though, truly the most innovative budget ever. To prove it to us, the word “innovation” appears more than 200 times in the budget. Unfortunately, simply repeating something does not make it true. We need a plan. We need tangible goals and outcomes and a real means of achieving growth.
The Liberals have announced initiatives thousands of times, indeed over 4,200 times since winning the election in 2015. However, as the parliamentary budget officer noted, even though the government has a penchant for announcing funding, it has completely failed to ensure the money gets out the door. This year alone, over $2 billion in infrastructure funding was allowed to lapse because the government was simply incapable of writing the cheque.
The government will stand and respond breathlessly that at least it is doing something, and demand of us, the opposition, some policy options to counter its own. We have provided those ideas. My Alberta colleagues and I provided very specific recommendations in our Alberta jobs task force report that was submitted to the finance minister. We consulted with over 5,000 Alberta families, small businesses, and stakeholders affected by the economic downturn. By the way, in case anyone is wondering, none of those we consulted said to jack up taxes on the gas and oil industry and phase out the oil sands.
We advised the government of these options provided to us in the jobs task force, which include: reduce the tax burden on Canadians by stopping the carbon tax; honour the promise to lower the small business tax; support families in need by reversing the punishing new mortgage rules; and enhance Canada's fiscal strength by developing and communicating a clear path back to a balanced budget. These are good, meaningful, and broadly supported recommendations that would help not only Albertans but Canadians. It is too bad the government is all to happy to ignore them.
Instead, the government will take as much as it can from Canadians to fund buzzwords, undefined ideas, palatial renovations to ministers' offices, limousines for cabinet ministers, and vacations for the Prime Minister to billionaire island.
Two years ago, the government promised to table budgets with modest deficits. It bragged and boasted that its costed plan meant it could keep its promise to Canadians, and also manage our finances. Once this promise became inconvenient, it was taken out back and “dealt with”, like Tony Soprano cutting off loose ends and handling “problems”.
By the time budget 2016 was tabled, the Liberal promise to balance the budget by 2019 disappeared entirely. The new reality of deficits well into the 2050s is now treated like Lord Voldemort, something really bad and evil that we know is out there but we do not mention it by name.
What are we getting for $102 billion in debt and higher taxes? What are our children receiving for a mortgaged future? Buzzwords about superclusters, rampant announcements for items well into the future, but misleading treated as action today and nothing but bafflegab. “What the heck, Dad”, indeed.