This bill is from 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. The Library of Parliament has also written a full legislative summary of the 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.
Bill numbers are reused for different bills each new session. Perhaps you were looking for one of these other C-9s:
Mike Lake Conservative Edmonton—Wetaskiwin, AB
Madam Chair, does the hon. member know what interest rate the Bank of Canada overnight rate was in August of 1971?
Chrystia Freeland Liberal University—Rosedale, ON
Madam Chair, one thing I pointed out in my speech last week was the way in which interest rates and the relationship between interest rates and growth have changed over the past decades.
Mike Lake Conservative Edmonton—Wetaskiwin, AB
Madam Chair, it was 5% in August 1971.
Does the hon. member know what the Bank of Canada overnight rate was in August of 1976?
Chrystia Freeland Liberal University—Rosedale, ON
Madam Chair, as I said, interest rates have varied over the past century. One very important fact was that only in the eighties and the nineties—
Mike Lake Conservative Edmonton—Wetaskiwin, AB
Madam Chair, the interest rate in 1976 was 9.25%.
Does the hon. member know what the Bank of Canada rate was in August 1981?
Chrystia Freeland Liberal University—Rosedale, ON
Madam Chair, what I would like the hon. member to reflect on is that only in the eighties and the nineties did the interest rate exceed the rate of growth. That is a fundamental—
Mike Lake Conservative Edmonton—Wetaskiwin, AB
Madam Chair, the Bank of Canada's overnight rate in August of 1981 was 20.78%.
Does the hon. minister understand the relevance of asking questions about what projected interest rates might be, given her government is taking on over $400 billion in new debt this year alone?
Chrystia Freeland Liberal University—Rosedale, ON
Madam Chair, I very much understand the relevance of history and the way in which Canada's very traumatic experience of debt in the 1990s is shaping the current debate. That is why I addressed that very directly in my speech—
Mike Lake Conservative Edmonton—Wetaskiwin, AB
Madam Chair, does the hon. member know how much the Chrétien-Martin Liberal government cut in transfers to the provinces for health care, social services and education in the late nineties because of the debt the Pierre Trudeau government ran up?
Chrystia Freeland Liberal University—Rosedale, ON
Madam Chair, I am really glad to have the member opposite ask questions about that because I think it is so important for us as a country to remember the lessons of the 1990s and to appreciate—
Mike Lake Conservative Edmonton—Wetaskiwin, AB
Madam Chair, the amount was $35 billion cut from transfers for health care, social services and education in the late nineties.
I am going to use my time to comment right now rather than question. As a parent of a 25-year old with autism, I care about not only what services are available for him now, but what services are going to be available for him two generations from now when we are no longer here to support him and look after him.
