This bill was last introduced in the 43rd Parliament, 2nd Session, which ended in August 2021.
Chrystia Freeland Liberal
This bill has received Royal Assent and is now law.
This is from the published bill.
This enactment amends the Income Tax Act to revise the eligibility criteria, as well as the level of subsidization, under the Canada Emergency Wage Subsidy (CEWS) as part of the response to the coronavirus disease 2019. It also extends the CEWS to June 30, 2021. The enactment further amends the Income Tax Act to introduce the Canada Emergency Rent Subsidy (CERS) in order to support those hardest hit by the coronavirus disease 2019. This subsidy provides relief in respect of rent and interest on debt obligations incurred to acquire real property used by businesses, charities and not-for-profit organizations in the course of their businesses or other activities. The rent subsidy is effective as of September 27, 2020.
All sorts of information on this bill is available at LEGISinfo, an excellent resource from the Library of Parliament. You can also read the full text of the bill.
Pierre Poilievre Conservative Carleton, ON
Mr. Chair, she claims the Bank of Canada is independent, but she also claims she is going to ban the bank from ever raising interest rates, even one percentage point. If she is not going to ban them from doing it, how is she going to stop them from ever raising interest rates?
Chrystia Freeland Liberal University—Rosedale, ON
Mr. Chair, it is highly inappropriate to put words in the mouth of any minister, especially the finance minister, suggesting that there is any form of coercion over our independent central bank.
Pierre Poilievre Conservative Carleton, ON
Mr. Chair, she has now admitted that the bank could raise interest rates in the future. We are back to where we started.
How much would it cost if it raised them just 1%?
Chrystia Freeland Liberal University—Rosedale, ON
Mr. Chair, as I said, it is highly inappropriate that the member said, not insinuated, that our government would in some way coerce the—
Pierre Poilievre Conservative Carleton, ON
Mr. Chair, she cannot answer that question. Let us move to another.
Other than Italy, which G7 country has higher unemployment than Canada?
Chrystia Freeland Liberal University—Rosedale, ON
Mr. Chair, I am delighted to talk about jobs. Canada has recovered 76% of our job losses, and the U.S. is at only 52%.
Pierre Poilievre Conservative Carleton, ON
Mr. Chair, the question was this: Can she name even one country in the G7 other than Italy that has higher unemployment than Canada?
Chrystia Freeland Liberal University—Rosedale, ON
Mr. Chair, the more important, relevant figure is labour force participation. Ours is higher than that of the U.S., Japan, South Korea and Germany. The Economist has a piece this week about Canada's—
Pierre Poilievre Conservative Carleton, ON
Mr. Chair, all the countries she just listed have lower unemployment than Canada. She cannot name a single country outside Italy in the G7 that has higher unemployment than Canada. Is there a single country in the G20 that has a higher deficit as a share of GDP than Canada? If so, could she name that country?
Chrystia Freeland Liberal University—Rosedale, ON
Mr. Chair, again, I am sorry to have to teach economics to the member opposite, but the really relevant figure is the debt-to-GDP ratio and Canada today has the lowest debt to GDP ratio in the G7.
Pierre Poilievre Conservative Carleton, ON
Mr. Chair, talking down to Canadians will not change the facts. We should be speaking with Canadians in the spirit of respect. I ask a respectful question. Is there a single country in the G20 that has a higher deficit-to-GDP ratio than Canada? Could she name even one such country?
Chrystia Freeland Liberal University—Rosedale, ON
Mr. Chair, let me ask a respectful question in turn of the member opposite. Is there one country in the G20 that has done a better job than Canada in protecting its workers and its businesses?
Pierre Poilievre Conservative Carleton, ON
Mr. Chair, yes, there is Japan, Taiwan, South Korea and Germany. Japan, Germany and Taiwan all have lower unemployment and far lower mortality rates during COVID. The minister asked me to name a country? I just named them. This is how in the House of Commons it is possible for members to answer questions, and even members of the opposition can do it.
Maybe a member of the government could do the same. Could she name even one country with a higher deficit as a share of GDP, even one, in the G20?
