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:
(House in committee of the whole, Mr. Bruce Stanton in the chair, resuming consideration of Bill C-9, An Act to amend the Income Tax Act regarding the Canada Emergency Rent Subsidy and the Canada Emergency Wage Subsidy)
The Chair Conservative Bruce Stanton
Pursuant to order made Wednesday, November 4, I do now leave the chair for the House to go into committee of the whole on Bill C-9, an act to amend the Income Tax Act with regard to the Canada emergency rent subsidy and the Canada emergency wage subsidy, and the economy in general.
Before we begin debate, I would like to remind hon. members of how the proceedings will unfold over the next four hours.
Pursuant to an order made on Wednesday, November 4, the Chair will call members in a fashion consistent with the proportions observed during Oral Questions. The rotation used for questions will be the one used for the former Special Committee on the COVID-19 Pandemic.
Each member may address the House for not more than five minutes and may use that time to ask questions.
Members may share their time with one or more members, but must indicate their intention to do so to the chair.
The Chair will expect a minister's response to approximately reflect the time taken to ask the question. The debate will end after four hours, or when no member rises to speak.
We will now begin the debate with the hon. member for Carleton.
Pierre Poilievre Conservative Carleton, ON
Mr. Chair, what is the dollar value of the national debt as of today?
Chrystia Freeland LiberalDeputy Prime Minister and Minister of Finance
Mr. Chair, I am not going to offer new projections, but let me remind the member that in the fiscal snapshot, the deficit—
Chrystia Freeland Liberal University—Rosedale, ON
Mr. Chair, it was $343.2 billion as of the fiscal snapshot. There are no new numbers tonight.
Pierre Poilievre Conservative Carleton, ON
Mr. Chair, I want to clarify for the finance minister that there is a difference between debt and deficits. I asked for the debt. Is she sure the debt is just $300 and some-odd billion?
Chrystia Freeland Liberal University—Rosedale, ON
Yes, Mr. Chair, and I want to be clear with members. I am going to refer to numbers from the snapshot, not new numbers tonight. I will tell the member more with the next question.
Chrystia Freeland Liberal University—Rosedale, ON
Mr. Chair, I sure do. It was projected in the fiscal snapshot to be $1.060 trillion.
Pierre Poilievre Conservative Carleton, ON
Mr. Chair, I think that number is hard for any of us to say, in fairness, so I will be charitable on that point.
Regarding all the new debt the government is adding, will it be repaid before interest rates rise?
Chrystia Freeland Liberal University—Rosedale, ON
Mr. Chair, as I said in my speech last week, we are extending the maturities of our debt to lock in current interest rates, which are at a 100-year low, our debt service charges.
Pierre Poilievre Conservative Carleton, ON
That is perfect, Mr. Chair.
What percentage of the new debt the government has added since March has been locked in for more than five years?
Chrystia Freeland Liberal University—Rosedale, ON
As I said, Mr. Chair, I am going to be offering detailed projections and numbers in my economic update later on this fall, not tonight, but I will cite the—