Madam Speaker, this is the longest budget in Canadian history. As Andrew Coyne pointed out in The Globe and Mail, this budget comes in at 739 pages and 232,903 words. Paul Martin's landmark budget of 1995 was fewer than 200 pages. Michael Wilson's budgets of the late1980s, which put Canada back on fiscal track and had operational surpluses, averaged less than 120 pages.
The longest budget in Canadian history is the biggest disappointment. Never has a budget proposed so little with so many words. There is no plan to tackle the immediate problem Canadians are facing, which is the lack of vaccines. There can be no economic recovery without vaccines.
In Halton region, for example, where part of my riding is, only half the people who could have been vaccinated have been. This is because the federal government has failed to secure vaccines. Last month, in places such as Burlington, Oakville, Milton, Georgetown and Acton, Halton region was only able to vaccinate 90,000 residents. It could have vaccinated 216,000 residents, or 7,200 residents a day, more than double the number of people it actually vaccinated. The reason only half the number of people were vaccinated was because of a lack of vaccines.
I will quote Halton region directly, which stated, “While we have the capacity to book approximately 7,200 appointments per day through our clinics, the availability of consistent vaccine supply continues to constrain the Vaccination Program rollout.”
The budget does nothing to fix this lack of vaccines. As a result, we are experiencing a third wave, unlike countries who were able to secure an adequate supply of vaccines like the United States and the United Kingdom.
This budget has no plan to build back better. It has no plan to create jobs and growth. Instead, it leaves us with a bigger debt, bigger deficits and an avalanche of unfocused spending.
The budget has no plan for regulatory and tax reform to help us in a fiercely competitive global economy. It has no plan to address Canada's chronically low levels of productivity, the only long-term determinant of prosperity. It has no plan for Canada's natural resources sector, which is so important to the race for critical minerals as the energy transition heats up.
There is no plan to address the overheated housing market, which has put the dream of affordable home ownership out of the reach of millions of Canadian families and saddled them with sky-high levels of indebtedness. There is no plan to achieve budget balance and rein in the skyrocketing debt and deficits that are threatening our children's future.
Members do not need to take it from me. They can take it from the experts. This is what David Dodge, the deputy minister of finance during the Chrétien government of the 1990s and former governor of the Bank of Canada, had to say about the budget in The Globe and Mail. He stated, “My policy criticism of the budget is that it really does not focus on growth”.
Referring to growth and the finance minister, he continues, “over the longer haul, we face a very real challenge. And I don’t think she tried to seriously address that in the budget”.
He went on to say that the vast majority of the extra $100 billion in spending is consumption not investment. He also said the budget does not have a prudent fiscal plan. He stated, “To me, it wouldn’t accord with something that is a reasonably prudent fiscal plan, let me put it that way”.
According to the International Monetary Fund, Canada has incurred the largest deficit among major economies in the last year at 20% of our GDP, yet the IMF estimates that, compared to our economic peers, Canada's economy has contracted more and will recover more slowly. Despite this, the budget does nothing to create jobs and growth.
There is no plan in the budget to balance public finances. The budget itself indicates that in the next five years alone, interest charges on the national debt will double, increasing from about 20 billion dollars a year to about 40 billion dollars a year.
Other experts have also been critical of the budget, as my colleague just said in his most recent remarks in the House. Here is what the finance minister's former policy and budget director, Robert Asselin, had to say about the budget in The Hub.
He said, “The federal budget has no answers on the question of growth”. He went on to say, “it was clear for some time that the government’s decision to spend more than $100 billion in so-called short-term stimulus was a political solution in search of an economic problem.” He concluded by saying, “After doubling our federal debt in only six years, and spending close to a trillion dollars, not moving the needle on long-term growth would be the worst possible legacy of this budget.”
This budget has no plan for growth, no plan to make Canada more competitive on the global stage and no plan to deal with Canada's aging labour force and chronically low levels of business investment. The Parliamentary Budget Officer has noted that a significant amount of the spending in the budget would neither stimulate jobs nor create economic growth. Like many others, he has concluded that a good portion of the spending is not stimulus at all.
Much of the spending in the budget is designed to help get Liberals re-elected. It is clearly a pre-election budget with a shotgun approach to spending. For example, the budget promises a national child care program. They do not mind the fact that it is provincial jurisdiction and some provinces have already set up universal child care programs. They do not mind the fact that the social union framework agreement, which was negotiated in 1999 by a previous Liberal government, requires the government to get the support of the majority of provincial governments to proceed. They do not mind the fact that provinces are rightfully skeptical about a federal government setting up new shared-cost programs in provincial areas of jurisdiction, only to have the federal government reduce funding at a later date, leaving the provinces on the hook to make up the deficit.
This promise of a national child care program is one Canadians have every right to be skeptical about. The Liberals first made this promise in the infamous red book of 1993, some 28 years ago. Over the last 28 years, they have continued to trot it out, and they keep failing to deliver. The government had two years to prepare for this budget. The fact that after two years all they could come out with is a budget soaring in rhetoric, but lacking in substance, is not surprising.
This is a government with an unprecedented gap between its rhetoric and reality. It is a government that said it was about gender equality, yet forced out of its cabinet and caucus the first indigenous female minister of justice and forced out of its caucus Jane Philpott, someone whose medical expertise we could have desperately used as minister of health during the last year of this pandemic. It is a government that said it was feminist, yet ignored the specific allegation of sexual harassment against the head of the armed forces
It is a government that said it would introduce electoral reform. It is a government headed by a Prime Minister who arrogantly proclaimed to the world in 2015 that Canada was back, and who made it a centrepiece of his foreign policy to secure a seat for Canada on the UN Security Council. However, Canada lost the vote for the Security Council seat with six fewer votes than it received a decade earlier. It is a government that came to office promising to do more for the world's poor, but that has spent 10% less on official development assistance than the previous government. It is a government that came to office promising to do better on climate change, but emissions have risen each and every year it has been in office.
In 2016, the first full year the current government was in office, emissions were 708 megatonnes. Just last month, the government announced emissions for the latest year, 2019, at 730 megatonnes. This is a 22-megatonne increase from its first full year in office, when it stood at 708 megatonnes, and so, too, it is with this budget.
This is a government that says it is focused on the middle class. It says it is focused on jobs and growth and focused on fiscal prudence, yet it presents a budget that is focused on anything but. For all those reasons, I cannot support this budget.
