Fall Economic Statement Implementation Act, 2022

An Act to implement certain provisions of the fall economic statement tabled in Parliament on November 3, 2022 and certain provisions of the budget tabled in Parliament on April 7, 2022

Sponsor

Status

This bill has received Royal Assent and is, or will soon become, law.

Summary

This is from the published bill. The Library of Parliament often publishes better independent summaries.

Part 1 implements certain measures in respect of the Income Tax Act by
(a) providing that any gain on the disposition of a Canadian housing unit within a one-year period of its acquisition is treated as business income;
(b) introducing a Tax-Free First Home Savings Account;
(c) phasing out flow-through shares for oil, gas and coal activities;
(d) introducing a new 30% Critical Mineral Exploration Tax Credit for specified mineral exploration expenses incurred in Canada and renounced to flow-through share investors;
(e) introducing the Canada Recovery Dividend under which banks and life insurers’ groups pay a temporary one-time 15% tax on taxable income above $1 billion over five years;
(f) increasing the corporate income tax rate of banks and life insurers’ groups by 1.5% on taxable income above $100 million;
(g) providing additional reporting requirements for trusts;
(h) providing rules applicable to mutual fund trusts listed on a designated stock exchange in Canada with respect to amounts that are allocated to redeeming unitholders;
(i) providing the Minister of National Revenue with the discretion to decline to issue a certificate under section 116 of the Income Tax Act in certain circumstances relating to the administration and enforcement of the Underused Housing Tax Act ;
(j) doubling the First-Time Homebuyers’ Tax Credit;
(k) expanding the eligibility criteria for the Medical Expense Tax Credit in respect of medical expenses incurred in Canada related to surrogate mothers and donors and fees paid in Canada to fertility clinics and donor banks;
(l) introducing the Multigenerational Home Renovation Tax Credit;
(m) allowing access to the small business tax rate on a phased-out basis up to taxable capital of $50 million;
(n) modifying the computation of income as a result of the adoption of a new international accounting standard for insurance contracts;
(o) introducing a new graduated disbursement quota rate for charities;
(p) providing that the general anti-avoidance rules can apply to transactions that affect tax attributes that have not yet been used to reduce taxes;
(q) strengthening the rules on avoidance of tax debts;
(r) modifying the calculation of the taxes applicable to registered investments that hold property that is not a qualified investment;
(s) modifying the tax treatment of certain interest coupon stripping arrangements that might otherwise be used to avoid tax on cross-border interest payments;
(t) clarifying the applicable rules with respect to audits by Canada Revenue Agency officials, including requiring taxpayers to give reasonable assistance and to answer all proper questions for tax purposes; and
(u) extending the capital cost allowance for clean energy and the tax rate reduction for zero-emission technology manufacturers to include air-source heat pumps.
It also makes related and consequential amendments to the Canada Deposit Insurance Corporation Act , the Excise Tax Act , the Air Travellers Security Charge Act , the Excise Act, 2001 , Part 1 of the Greenhouse Gas Pollution Pricing Act and the Income Tax Regulations .
Part 2 amends the Excise Act, 2001 and other related texts in order to implement changes to
(a) the federal excise duty frameworks for cannabis and other products by, among other things,
(i) permitting excise duty remittances for certain cannabis licensees to be made on a quarterly rather than a monthly basis, starting from the quarter that began on April 1, 2022, and
(ii) allowing the transfer of packaged, but unstamped, cannabis products between licensed cannabis producers; and
(b) the federal excise duty framework for vaping products in relation to the markings, customs storage and excise duty liability of these products.
Part 3 amends the Underused Housing Tax Act to make amendments of a technical or housekeeping nature. It also makes regulations under that Act in order to, among other things, implement an exemption for certain vacation properties.
Division 1 of Part 4 authorizes the Minister of Finance to acquire and hold on behalf of His Majesty in right of Canada non-voting shares of a wholly-owned subsidiary of the Canada Development Investment Corporation that is responsible for administering the Canada Growth Fund and to requisition the amounts for the acquisition of those shares out of the Consolidated Revenue Fund.
Division 2 of Part 4 amends the Bretton Woods and Related Agreements Act to increase the maximum financial assistance that may be provided in respect of foreign states.
Subdivision A of Division 3 of Part 4 enacts the Framework Agreement on First Nation Land Management Act .
Subdivision B of Division 3 of Part 4 contains transitional provisions in respect of the enactment of the Framework Agreement on First Nation Land Management Act and makes consequential amendments to other Acts. It also repeals the First Nations Land Management Act .
Division 4 of Part 4 amends the Government Employees Compensation Act in order to fulfil Canada’s obligations under the Memorandum of Understanding between the Government of Canada and the Government of the United States of America concerning Cooperation on the Civil Lunar Gateway.
Division 5 of Part 4 amends the Canada Student Loans Act to eliminate the accrual of interest on guaranteed student loans beginning on April 1, 2023.
It also amends the Canada Student Financial Assistance Act to eliminate the accrual of interest on student loans beginning on April 1, 2023.
Finally, it amends the Apprentice Loans Act to eliminate the accrual of interest on apprentice loans beginning on April 1, 2023 and to clarify when the repayment of apprentice loans begins during the interest suspension period from April 1, 2021 to March 31, 2023.

Elsewhere

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.

Votes

Dec. 8, 2022 Passed 3rd reading and adoption of Bill C-32, An Act to implement certain provisions of the fall economic statement tabled in Parliament on November 3, 2022 and certain provisions of the budget tabled in Parliament on April 7, 2022
Dec. 7, 2022 Passed Concurrence at report stage of Bill C-32, An Act to implement certain provisions of the fall economic statement tabled in Parliament on November 3, 2022 and certain provisions of the budget tabled in Parliament on April 7, 2022
Dec. 7, 2022 Failed Bill C-32, An Act to implement certain provisions of the fall economic statement tabled in Parliament on November 3, 2022 and certain provisions of the budget tabled in Parliament on April 7, 2022 (report stage amendment)
Nov. 22, 2022 Passed 2nd reading of Bill C-32, An Act to implement certain provisions of the fall economic statement tabled in Parliament on November 3, 2022 and certain provisions of the budget tabled in Parliament on April 7, 2022
Nov. 22, 2022 Failed 2nd reading of Bill C-32, An Act to implement certain provisions of the fall economic statement tabled in Parliament on November 3, 2022 and certain provisions of the budget tabled in Parliament on April 7, 2022 (reasoned amendment)
Nov. 21, 2022 Passed Time allocation for Bill C-32, An Act to implement certain provisions of the fall economic statement tabled in Parliament on November 3, 2022 and certain provisions of the budget tabled in Parliament on April 7, 2022

Fall Economic Statement Implementation Act, 2022Government Orders

November 21st, 2022 / 3:35 p.m.
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Bloc

Claude DeBellefeuille Bloc Salaberry—Suroît, QC

Madam Speaker, I think we all know the solution. It is what the premiers of every province and territory have been asking for.

The solution is enough money in health transfers so that each province can make appropriate, high-quality services available to its citizens based on their priorities, their circumstances and their needs. The solution is health transfers with no strings attached because every province is different and has different social issues to deal with.

I agree with my colleague that the solution is health transfers, and I hope the government will listen to Quebec and the provinces.

Fall Economic Statement Implementation Act, 2022Government Orders

November 21st, 2022 / 3:40 p.m.
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NDP

Niki Ashton NDP Churchill—Keewatinook Aski, MB

Madam Speaker, I thank my colleague for sharing her thoughts.

I would like to know if she thinks the government should do a lot more to make sure that rich Canadians pay their taxes. We know there is a measure in this bill, but I think much more should be done to tackle inequality in our country.

What are my colleague's thoughts on that?

Fall Economic Statement Implementation Act, 2022Government Orders

November 21st, 2022 / 3:40 p.m.
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Bloc

Claude DeBellefeuille Bloc Salaberry—Suroît, QC

Madam Speaker, I share my colleague's concerns. The measures announced in this economic statement are thin, flimsy and unambitious when it comes to preventing so much money from going to tax havens.

We urge the government to be a true world leader and do everything it can to prevent tax avoidance.

Fall Economic Statement Implementation Act, 2022Government Orders

November 21st, 2022 / 3:40 p.m.
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Conservative

Ryan Williams Conservative Bay of Quinte, ON

Madam Speaker, Liberals are driving the government like a rental. They do not drive it as if it is Canadians' money or savings. They drive it like they stole it, buying the flashiest items without taking care of the tires, the engine or the oil. Today, with the government moving closure on debate, it is just returning the rental car with smoke pouring from the hood and the tank empty.

The Conservative plan for Canadians and the skyrocketing inflation is quite simple: Invest in Canadians by fixing the basic problems; stop spending an excessive amount of money, and stop the tax increases to Canadians. For every item of spending, we propose that the government must find an item to save. It must stop the triple increases on gas, home heating and groceries and ensure that we give Canadians back control of their lives once again.

The car is broken. Inflation is at a 40-year high. We have immigration problems, a big, broken system that is resulting in a lack of workers. There is a lack of 1.03 million workers in this country, costing this economy upward of $30 billion. We have a housing crisis. We are over 1.65 million homes short in this country, and from that we have a homelessness problem. In my region there are over 500 homeless at this point, and there are homeless in every single area of this country. We have a health care problem: Canadians cannot find a doctor, nurse practitioner or midwife. Canadians are guaranteed universal health care under our system, but they cannot get the health care they need.

We have massive problems right now with the cost of everything. Canadians pay the highest cellphone bills in the whole world. No one else pays higher cellphone bills per month, and we have a problem even getting passports in Canada.

Canadians are hurting. Twenty per cent of Canadians right now are using food banks. Some Canadians are using food banks while they work 40 hours a week. We have problems with just getting basic services in Canada. When we talk about the economic update, we are really looking for solutions that are going to help Canadians, the most basic of solutions that can give Canadians the most basic needs they should have in this G7 nation.

We are looking, first of all, at what is driving this budget. This budget has $20 billion more in new spending than was in the budget that was passed in March. Why? It is because the price of oil has gone up, because oil itself is driving our country's economy. The 585,000 workers who work in that field, the fact that we have inflation and because of the war in Ukraine, we have had a $20-billion windfall, and that $20 billion has gone in this economic statement. However, nowhere in this statement are we fixing the basic problems: the housing problem, health care, immigration and Canadians' bills, which are the highest in the world.

Looking at the immigration system and where the biggest flaws are, I am going to focus specifically on housing. When we talk to the Canadian Construction Association and builders in my riding, skilled labour is the biggest gap that we find when it comes to housing. Yes, we have problems with regulations from the provinces and with municipalities getting homes up, but it always comes down to the most basic of needs, which are skilled builders and workers. When it comes to the immigration system, we are short at least 1.2 million, but right now we have a backlog of close to two million workers. We have 2.4 million workers in a backlog in our immigration system, and one million of those applicants are waiting longer than the IRCC service standard.

There is nothing more important than housing in Canada. More Canadians are homeless than at any time in the history of this country. More Canadians are on precarious footing with their rent and mortgage payments as interest rates rise, and every month we see more people fall through the cracks and end up homeless. The Auditor General this week released a report on homelessness, stating that the accomplishments of the government have been grossly exaggerated. The federal agencies leading the government's efforts to reduce homelessness by 50% by 2027-28 do not know if their efforts have even reduced homelessness. The CMHC has spent $4.5 billion and committed another $9 billion, but cannot tell Canadians who benefited from that money.

Infrastructure Canada spent $1.4 billion between 2019 and 2021, yet it cannot say whether homelessness increased or decreased as a result. The CMHC, which is overseeing the majority of the $78.5 billion of the national housing strategy, takes the position, as the Auditor General stated, that it is not directly accountable for the targeted 50% reduction in homelessness. If it is not, the question is, who is? Here we thought the government was good at convening. Spending money and thinking that alone gets results is ludicrous. Canadian taxpayer dollars are a means, not an end.

The labour shortage is, without any doubt, one of the biggest barriers to housing. It is also one of the biggest barriers to our health care system and is contributing to inflation. The Governor of the Bank of Canada, Tiff Macklem, stated as much last week, when he said that labour shortages are contributing to inflation. However, in this economic update we are not dealing with the problems in immigration, meaning the backlogs and the fact that we are not getting enough workers, health care workers, or anyone we need to help lift this country out of this inflationary problem.

We talk about health care and the shortage of 60,000 nurses and 15,000 doctors. Another of the biggest problems we have is that we are not allowing trades, nurses or doctors to move from province to province. We have a military family resource centre at CFB Trenton in my riding, and a lot of our military personnel move around to postings from base to base. For their spouses, who normally are trained as nurses, paramedics or doctors, it can sometimes take from six to eight months for their qualifications to be transferred from, say, Nova Scotia to Ontario. We are not addressing those biggest targets when we need paramedics, nurses and professionals in our health care system.

When we look at the legislation we need when we are talking about the budget, that should be something that is included in what we are looking at.

With respect to the costs Canadians are paying right now, in Canada we have the highest cellphone bills on the whole planet. When we look at carriers across the world, of the 121 telecommunications carriers, Rogers, TELUS and Bell are the first, second and third priciest in the world. The results are quite something. Canadians are paying triple what Australians are paying for cellphones, for 25 gigabytes of data and unlimited text and talk, and almost double what Americans pay.

The reason for that is a lack of competition. We allow the big three to dominate the market, which is what we are seeing play out at the Competition Tribunal right now, and Canadians simply do not have a choice. The government has had six years, and it made a promise. This year, the Prime Minister stated in April that the government had reduced Canadian cellphone costs by 25%. What actually happened was this. If people had two gigabytes of data, that went down 25%, yet no one uses two gigabytes anymore. It is like having a VCR or a Blackberry Pearl. Technology evolves and when it comes to the data that Canadians use and we see that evolution, they are certainly not seeing that savings.

The Liberal government is forcing Canadians to live in a haze, to stay in the shade. Canadians are forced to sit around and wait for better days. They could use a break; they could use an “amen”, but all they can do is sit around and wait for better days.

There is nothing wrong with this country that cannot be fixed. We might have a party that has driven government like a rental, like it stole it, but we can right those wrongs with a government that knows it is not a rental, that looks at it like it is the Canadian family's minivan that needs investments into its tires, its engine and its oil to ensure that Canadians can get from point A to point B, can heat their homes, can take care of their families and can make sure they get back to doing what they do best, which is living in the best country in the world.

We can do a lot of great things for Canadians. We can invest in them. We can make sure we get the labour, the nurses and the doctors. We can make sure we build homes. When it comes to homelessness, we need to make sure we invest in putting roofs over Canadians' heads to ensure they have shelter. We can make sure we take care of Canadians, but it starts with spending money correctly and making sure we take care of their lives, their savings, their pocketbooks and their paycheques.

Fall Economic Statement Implementation Act, 2022Government Orders

November 21st, 2022 / 3:50 p.m.
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Sackville—Preston—Chezzetcook Nova Scotia

Liberal

Darrell Samson LiberalParliamentary Secretary to the Minister of Veterans Affairs and Associate Minister of National Defence

Madam Speaker, my colleague underlined a few very crucial areas that Canadians are concerned about and that our government has moved forward with in the fall economic statement. Various decisions have been taken lately. One is with respect to housing. We brought forward the first national housing strategy, and we are seeing the rapid housing initiative move forward very quickly as well.

He talked about immigration, so I would like him to talk a bit about the opening up of the express entry, which will help identify the needs of Canadians to be able to fill the gap. Of the people coming in through immigration, 60% are already based on the needs of Canadians. There are some good measures in the fall economic statement. One that I would like the member to talk about is immigration.

Fall Economic Statement Implementation Act, 2022Government Orders

November 21st, 2022 / 3:50 p.m.
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Conservative

Ryan Williams Conservative Bay of Quinte, ON

Madam Speaker, talking is one thing, but action is another. The economic statement states we need this, but we have a million immigrants backlogged right now. When we talk about bringing in 500,000, let us be clear about that number. Two hundred thousand of those are skilled. We have about 75,000 for refugees, and we have about 75,000 for family reunification, but we are backlogged a million.

We need these workers today, and although the budget has had a 30% increase of money in the last three years and an extra 2,500 employees for Immigration, Refugees and Citizenship Canada, or IRCC, we are not seeing immigrants coming into this country. Employers right now are screaming, and the cost of that is about $30 billion.

It is nice to have it in the budget, but what we need is action. We need to make sure we think a little differently, get workers here and get them working.

Fall Economic Statement Implementation Act, 2022Government Orders

November 21st, 2022 / 3:50 p.m.
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Bloc

Luc Desilets Bloc Rivière-des-Mille-Îles, QC

Madam Speaker, I thank my colleague for his speech. I agree with him that this bill has no colour, no taste and no vision.

I would like his opinion. The bill includes roughly 108 references to the problem of inflation, without ever offering solutions for vulnerable people, especially while we are heading into a recession.

Does my colleague agree with the Bloc Québécois on this?

Fall Economic Statement Implementation Act, 2022Government Orders

November 21st, 2022 / 3:50 p.m.
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Conservative

Ryan Williams Conservative Bay of Quinte, ON

Madam Speaker, I do believe I agree with the Bloc.

We have major problems coming here. To my point about the government needing to have a bit more action and look at the basics, we do have an inflationary problem, and our solution is very simply to create more of the stuff money buys. We create more of the stuff money buys by having workers who can work in businesses.

A report that came out last week said the lack of workers in Quebec is costing the Quebec economy $9 billion, and this was just last year. The reason was that manufacturers, and they are short about 16,000 manufacturers in Quebec, could not fulfill contracts or sign new contracts, and those contracts were worth $5 billion and $2 billion. Obviously, and the Governor of the Bank of Canada is mentioning this, the lack of workers is contributing greatly and mostly to inflation. We need to fix immigration, train more people and get more workers.

Fall Economic Statement Implementation Act, 2022Government Orders

November 21st, 2022 / 3:50 p.m.
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NDP

Gord Johns NDP Courtenay—Alberni, BC

Madam Speaker, winter is coming, and many Canadians are worried they will not be able to afford to heat their homes.

Conservatives suggest removing the carbon tax from home heating as a way to make life more affordable for Canadians. The New Democrats know that in provinces and territories that have their own carbon pricing, like in British Columbia, and the carbon tax in B.C. was brought in by the right-wing B.C. Liberals, the carbon tax does actually apply to home heating. Removing the GST on home heating would be a better way to offer Canadians financial relief from coast to coast to coast. We have suggested amendments to Conservative motions to this effect, and they have rejected those amendments.

Why are the Conservative gatekeeping mechanisms that would help Canadians heat their homes this winter with their own litmus test on climate policy?

Fall Economic Statement Implementation Act, 2022Government Orders

November 21st, 2022 / 3:55 p.m.
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Conservative

Ryan Williams Conservative Bay of Quinte, ON

Madam Speaker, it sounds like he agrees with us that removing unneeded tax on home heating is one way to alleviate Canadians' struggles, and we certainly have always stated that. We believe that we need to eliminate taxes, which is a great way to help Canadians, and to ensure we stop excessive spending.

At the end of the day, Canadians need to heat their homes. Someone in my riding I talked to on the weekend went from paying $2,500 a month in home heating to $5,000. The triple increase of the carbon tax is going to hurt them, so we are certainly pushing to eliminate that. We will make things more affordable, and then we will fix the other problems when we get to them.

Fall Economic Statement Implementation Act, 2022Government Orders

November 21st, 2022 / 3:55 p.m.
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Conservative

Mike Lake Conservative Edmonton—Wetaskiwin, AB

Madam Speaker, it is a pleasure to rise and take part in this conversation. I had the opportunity last week to engage in some of the questions and answers. It was interesting to see emotions rise a little on the Liberal side when I talked about the Trudeau legacy.

In our part of the world, when we talk about the Trudeau legacy, emotions rise as well. Of course I was talking about the Pierre Trudeau legacy, but confusion arose because, when we are talking about incompetent Liberal governments, it is hard to distinguish one from the other. I think that was the difficulty on the Liberal side.

When I made those comments, it was interesting because the Liberal MP to whom I was asking a question actually answered or responded. There are not a lot of answers coming from over there these days. The member responded, clearly reading from the Prime Minister's Office talking points.

I will read a couple of quotes from her answer. She said that Canada is the third-largest triple economy in the world. I am not sure exactly what that means. She referred to the Moody; she said that the Moody has reaffirmed, just after the statement, the AAA rating deficit.

Certainly the government's recent deficits deserve a AAA rating. I think she might have been misreading the PMO talking points she had. However, it is an important point.

Credit ratings are AAA until the time that they are not, and when they are not, governments and countries get in trouble. We saw that with the Trudeau legacy. It is important to talk a little about that legacy, as it seems that many members of the Liberal Party today have virtually no understanding, no recollection, of what happened during those years.

During the 15 years that Pierre Trudeau was the prime minister of this country, Canada ran deficits in 14 of those 15 years. Coming into that time frame, there was almost no debt in Canada, very low debt. The Trudeau government ran deficits in 14 out of 15 years.

Then we came to 1984 and a Conservative government. The Liberals like to point out that the Mulroney deficits were, at the time, the highest in Canadian history, but what they do not point out is that because of rising interest rates, because of inflation similar to what we are seeing right now, the deficits the Mulroney government ran were basically interest on the Trudeau government debt, the debt that Trudeau ran up in 14 of the 15 years he was here.

If we fast-forward about 15 years, we get to another Liberal government, and that is where the lesson on credit ratings comes in. We get to the Chrétien-Martin government in the mid to late 1990s, and suddenly Canada's credit rating was lowered. The government was faced with a really difficult decision. Of course at the time, it had to slash $35 billion from transfers to the provinces for things like health care, social services and education, $35 billion slashed because the Trudeau government had run up deficits or debt in 14 out of its 15 years over time.

This is exactly the situation we are facing right now. If I were to talk about the Trudeau legacy of an inflation crisis, a housing crisis, an energy crisis, there would be lots of confusion. Lots of members on the other side would stand up and say, “Quit talking about us.” I would be talking about the Pierre Trudeau government when I am talking about the Trudeau legacy; however, it is almost indistinguishable from the Liberal government we have right now.

Let us take a look at the interest right now on our debt. We are going to spend almost $20 billion more in interest alone in 2023-24 than we were spending in 2021-22, just two years earlier. It is almost $20 billion more. We are going to be spending almost as much on interest as we spend on the Canada health transfer, and we all know the challenges the health system is having in Canada. We cannot afford to be spending that much on interest, but we are going to be because of decisions the government has taken over the past few years.

We stand up in question period day after day and talk about the fiscal crisis facing the country. What we get in terms of responses is absolutely meaningless language, mind-numbing references to having Canadians' backs as Liberals talk about spending money as though the current Prime Minister is writing cheques from his own personal bank account. However, that is not the case. That money all comes from Canadians. It does not just come from Canadians now; it is actually coming from Canadians in the future. There is a mind-numbing reference to that.

There is a reference to tax refunds and tax rebates, which is basically that the government is collecting tax and then it is blessing Canadians by giving back to them their own tax dollars that the Liberals have spent.

There are references and a lot of criticism from the other side. When we talk about the amount of spending the government is doing and the lack of fiscal responsibility, there is a lot of criticism from the other side. The Liberals will list off yet another new spend the government is doing and then demand why Conservatives cannot support it.

I will tell them why Conservatives cannot support that. It is because, right now, in 2022, if we look back seven years and talk to our constituents, and I am sure those on the other side who were here in 2015 talk to their constituents as well, it is very rare, almost non-existent, to have a conversation with a constituent who says, “My life is better off today than it was in 2015 from a financial standpoint.”

We are facing crisis after crisis, and when we take a look at program expenditures from the government, in 2022-23, post-COVID, which is our hope, at least post-COVID massive spending, we are going to be looking at 72% more in program expenditures than the 2014-15 budget put forward by our Conservative government, a budget in which we balanced the finances of the country. Now we are spending 70% more and we are obtaining fewer results. Conservatives are just not going to give a blank cheque to this government to spend even more with the results it has gotten over time.

I am really looking forward to hearing questions from the other side. It is questions and comments, so maybe folks might decide to comment on how they have come to a realization. Maybe they will make a commitment to go back and take a look at the record of the Pierre Trudeau government of the 1970s and 1980s. Maybe they will go back and ask their government, with all of the spending they are doing and the fiscal situation we are in right now, how they cannot even find the $4.5 billion the Liberals promised in their election campaign for a Canada mental health transfer. Where is that $4.5 billion? With all of this spending, the Liberals cannot even find the money to pay for things they promised in their election platform a year ago.

I will conclude with that. I really look forward to hearing some thoughtful questions from the government side, hopefully.

Fall Economic Statement Implementation Act, 2022Government Orders

November 21st, 2022 / 4 p.m.
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Liberal

Han Dong Liberal Don Valley North, ON

Madam Speaker, I listened closely to the hon. member's remarks, and he talked about history.

The Harper government began with a surplus. The previous Liberal government left, I think, $13 billion at the time. Therefore, it started off really well with a surplus to manage. Also, I checked the record. Under Harper, for the nine years that the Conservatives were in government, not a single year's unemployment rate went below 6%. However, we saw the constant dropping of the unemployment rate under the Trudeau government prior to the pandemic, and now we are seeing five point something per cent as a new norm for Canada. I think we have done quite well.

By the way, the real debt-to-GDP ratio for the federal government is 31%, which was just released in the public accounts.

Which program is the hon. member proposing to cut, perhaps in an amendment, that he thinks is a waste of money—

Fall Economic Statement Implementation Act, 2022Government Orders

November 21st, 2022 / 4:05 p.m.
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NDP

The Assistant Deputy Speaker NDP Carol Hughes

I will let the member answer because I have to put more questions through.

The hon. member for Edmonton—Wetaskiwin.

Fall Economic Statement Implementation Act, 2022Government Orders

November 21st, 2022 / 4:05 p.m.
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Conservative

Mike Lake Conservative Edmonton—Wetaskiwin, AB

Madam Speaker, I love the opportunity to stand up and talk about the Harper legacy, if we want to talk about that.

First of all, we cut virtually every tax Canadians could pay. I think over 60 different taxes were cut under our government. We dealt with a global economic meltdown in a world-leading way—

Fall Economic Statement Implementation Act, 2022Government Orders

November 21st, 2022 / 4:05 p.m.
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Some hon. members

Oh, oh!