Bill C-69

Budget Implementation Act, 2024, No. 1

An Act to implement certain provisions of the budget tabled in Parliament on April 16, 2024

Part 1 implements certain measures in respect of the Income Tax Act and the Income Tax Regulations by
(a) denying income tax deductions for expenses incurred with respect to non-compliant short-term rentals;
(b) exempting from taxation the international shipping income of certain Canadian resident companies;
(c) exempting from taxation any income of the trusts established under the First Nations Child and Family Services, Jordan’s Principle, and Trout Class Settlement Agreement;
(d) doubling the volunteer firefighters and search and rescue volunteers tax credits;
(e) extending the eligibility for the Canada child benefit in respect of a child for six months after the child’s death;
(f) increasing the cap on labour expenditures per eligible newsroom employee from $55,000 to $85,000 and increasing, for four years, the Canadian journalism labour tax credit rate from 25% to 35%;
(g) extending eligibility for the mineral exploration tax credit by one year;
(h) providing a refundable tax credit to small and medium-sized businesses in designated provinces by returning a portion of fuel charge proceeds from the province;
(i) providing a refundable investment tax credit to qualifying businesses for investments in certain clean hydrogen projects;
(j) providing a refundable investment tax credit to qualifying businesses for certain investments in clean technology manufacturing property;
(k) amending the definition “government assistance” to exclude bona fide concessional loans with reasonable repayment terms from public authorities;
(l) implementing a number of amendments to the alternative minimum tax;
(m) increasing the home buyers’ plan withdrawal limit from $35,000 to $60,000 and deferring the repayment period by three additional years;
(n) excluding the failure to report under the mandatory disclosure rules from the application of the section 238 penalty;
(o) introducing a $10-million capital gains exemption on the sale of a business to an employee ownership trust; and
(p) implementing a number of technical amendments to correct inconsistencies and to better align the law with its intended policy objectives.
Part 2 enacts the Global Minimum Tax Act , a regime based on the rules of the Organisation for Economic Co-operation and Development (OECD). The global minimum tax regime will ensure that large multinational corporations are subject to a minimum effective tax rate of 15% on their profits wherever they do business. It sets out rules for the purposes of establishing liability for the tax and also sets out applicable reporting and filing requirements. To promote compliance with its provisions, that Act includes modern administration and enforcement provisions generally aligned with those found in other taxation statutes. Finally, this Part also makes related and consequential amendments to other texts to ensure proper implementation of the tax and cohesive and efficient administration by the Canada Revenue Agency.
Part 3 amends the Excise Tax Act , the Excise Act , the Excise Act, 2001 , the Underused Housing Tax Act , the Greenhouse Gas Pollution Pricing Act and other related texts in order to implement certain measures.
Division 1 of Part 3 amends the Excise Tax Act by repealing the temporary relief for supplies of certain face masks or respirators and certain face shields from the Goods and Services Tax/Harmonized Sales Tax.
Division 2 of Part 3 amends the Excise Act , the Excise Act, 2001 and other related texts in order to implement changes to
(a) the federal excise duty framework for tobacco products by
(i) increasing the excise duty rates for tobacco products, including imposing a tax on inventories of cigarettes held by retailers and wholesalers,
(ii) changing the process by which brands of tobacco products for export are exempted from special excise duty and marking requirements,
(iii) allowing certain information to be shared for the administration or enforcement of the Tobacco and Vaping Products Act , and
(iv) requiring the filing of information returns in respect of tobacco excise stamps;
(b) the federal excise duty framework for vaping products by increasing the excise duty rates for vaping products; and
(c) the federal excise duty framework for alcohol by
(i) extending by two years the two per cent cap on the inflation adjustment on beer, spirits and wine excise duties, and
(ii) cutting by half for two years the excise duty rate on the first 15,000 hectolitres of beer brewed in Canada.
Division 3 of Part 3 amends the Underused Housing Tax Act and the Underused Housing Tax Regulations by, among other things,
(a) eliminating filing requirements for certain owners;
(b) reducing minimum penalties for failing to file a return; and
(c) introducing a new exemption for residential properties held as a place of residence or lodging for employees.
Division 4 of Part 3 amends the Greenhouse Gas Pollution Pricing Act by providing authority, in certain circumstances, for the sharing of certain information amongst federal officials and for the public disclosure of certain information by the Minister of National Revenue.
Part 4 enacts and amends several Acts in order to implement various measures.
Division 1 of Part 4 amends the Budget Implementation Act, 2022, No. 1 to delay the repeal of the Prohibition on the Purchase of Residential Property by Non-Canadians Act for two years.
Division 2 of Part 4 amends the National Housing Act to increase the in-force limits for guarantees issued by the Canada Mortgage and Housing Corporation (CMHC) in respect of mortgage-backed securities and Canada Mortgage Bonds and for mortgage default insurance provided by CMHC from the temporary $750 billion to the permanent $800 billion. It also amends the Borrowing Authority Act to avoid the double counting of liabilities related to Canada Mortgage Bonds that are guaranteed by the CMHC and have been purchased by the Minister of Finance, on behalf of the Government of Canada, in the calculation of the maximum amount of certain borrowings under that Act.
Division 3 of Part 4 authorizes the making of payments to the provinces for the fiscal year beginning on April 1, 2024 respecting a national program for providing food in schools.
Division 4 of Part 4 amends the Canada Student Loans Act and the Canada Student Financial Assistance Act to expand eligibility for student loan forgiveness to early childhood educators, dentists, dental hygienists, pharmacists, midwives, teachers, social workers, psychologists, personal support workers and physiotherapists.
Division 5 of Part 4 amends the Canada Education Savings Act to, among other things,
(a) authorize the Minister responsible for that Act to open a registered education savings plan in respect of a child born after 2023 who is eligible for the payment of the Canada Learning Bond and is not the beneficiary under such a plan, so that the Minister may pay a Canada Learning Bond in respect of the child; and
(b) increase, from 20 to 30 years, the maximum age of a beneficiary under a registered education savings plan in respect of whom a Canada Learning Bond may be paid on application.
It also makes consequential amendments to the Income Tax Act .
Division 6 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.
Division 7 of Part 4 amends the Bretton Woods and Related Agreements Act to increase the amount of the payment that the Minister of Finance may provide to the International Monetary Fund in respect of Canada’s subscriptions. It also amends the International Development (Financial Institutions) Assistance Act and the European Bank for Reconstruction and Development Agreement Act to provide for new financial instruments that the Minister of Foreign Affairs or the Minister of Finance, as the case may be, may use to provide financial assistance to the institutions referred to in those Acts.
Division 8 of Part 4 amends the International Financial Assistance Act to, among other things, provide that foreign exchange losses in relation to programs referred to in that Act must be charged to the Consolidated Revenue Fund and provide for the making of payments to Development Finance Institute Canada (DFIC) Inc. in relation to programs referred to in that Act out of the Consolidated Revenue Fund.
Division 9 of Part 4 amends the Export Development Act to lower the limit for total liabilities and obligations referred to in subsection 24(1) of that Act from $115 billion to $100 billion.
Division 10 of Part 4 amends the Financial Administration Act to broaden the application of subsection 85(2) of that Act to other Crown corporations.
Division 11 of Part 4 amends the Financial Administration Act to require certain banks and other financial institutions to disclose prescribed information for federal payments accepted for deposit.
Division 12 of Part 4 amends the Federal-Provincial Fiscal Arrangements Act to enhance the Canada Health Transfer for qualifying provinces and territories.
Division 13 of Part 4 amends the Pension Benefits Standards Act, 1985 to require that the Superintendent of Financial Institutions publish certain information relating to pension plan investments. It also amends the Pooled Registered Pension Plans Act to require that plan administrators provide specified information by written notice to certain persons when they become members of a pooled registered pension plan.
Division 14 of Part 4 amends the Canada Pension Plan to, among other things,
(a) provide for a death benefit of $5,000 in cases where no other Canada Pension Plan benefit, with the exception of the orphan’s benefit, has been paid in respect of the deceased contributor’s contributions;
(b) create a new child’s benefit for dependent children aged 18 to 24 who are in part-time attendance at school;
(c) maintain eligibility for the disabled contributor’s child’s benefit if the disabled contributor reaches the age of 65;
(d) allow for the deeming of an application for a disabled contributor’s child’s benefit on behalf of a child to have been made at an earlier date under the Canada Pension Plan ’s incapacity provisions;
(e) preclude entitlement to a survivor’s pension if an individual has received a division of unadjusted pensionable earnings in respect of their deceased separated spouse; and
(f) clarify the determination of the payee of the disabled contributor’s child’s benefit.
It also makes a consequential amendment to the Canada Pension Plan Regulations .
Division 15 of Part 4 amends the Public Sector Pension Investment Board Act to provide for the payment of certain amounts into the Consolidated Revenue Fund by the Public Sector Pension Investment Board.
Division 16 of Part 4 enacts the Consumer-Driven Banking Act , which establishes a consumer-driven framework for individuals and small businesses to safely and securely share their data with the participating entities of their choice.
It also makes related amendments to the Financial Consumer Agency of Canada Act to establish the position of Senior Deputy Commissioner for Consumer-Driven Banking who is responsible for consumer-driven banking matters and to provide for, among other things, the supervision of participating entities.
Division 17 of Part 4 amends the Bank Act to, among other things, clarify the definitions “deposit-type instrument” and “principal-protected note”.
Division 18 of Part 4 amends the Office of the Superintendent of Financial Institutions Act to increase to $100,000,000 the maximum amount that expenditures made out of the Consolidated Revenue Fund to defray the expenses arising out of the operations of the Office may exceed the Office’s total assessments and revenues.
Division 19 of Part 4 amends the Bank of Canada Act to clarify that the Bank of Canada may enter into repurchase, reverse repurchase and buy-sellback agreements.
Division 20 of Part 4 amends the Canada Business Corporations Act to
(a) harmonize fines for a corporation guilty of an offence related to the collection or sending of information regarding individuals with significant control; and
(b) set separate fines and imprisonment terms on the basis of a summary conviction or a conviction on indictment for a director, officer or shareholder of a corporation guilty of an offence related to individuals with significant control.
Division 21 of Part 4 amends Parts I to III of the Canada Labour Code to, among other things,
(a) provide that a person who is paid remuneration by an employer is presumed to be their employee unless the contrary is proved by the employer;
(b) provide that if, in any proceeding other than a prosecution, an employer alleges that a person is not their employee, the burden of proof is on the employer; and
(c) prohibit an employer from treating an employee as if they were not their employee.
Finally, it also includes transitional provisions.
Division 22 of Part 4 amends the Canada Labour Code to, among other things, set out certain employer obligations relating to policies respecting work-related communication and clarify certain employee rights and employer obligations relating to terminations of employment. It also includes transitional provisions.
Division 23 of Part 4 amends the Employment Insurance Act to extend, until October 24, 2026, the duration of the measure that increases the maximum number of weeks for which benefits may be paid in a benefit period to certain seasonal workers.
Division 24 of Part 4 amends section 61 of An Act for the Substantive Equality of Canada’s Official Languages in order to add a reference to subsections 18(1.1) and (1.2) of the Use of French in Federally Regulated Private Businesses Act in subsection 19(1) of that Act, which An Act for the Substantive Equality of Canada’s Official Languages enacts.
Division 25 of Part 4 authorizes a corporation that is to be incorporated as a wholly owned subsidiary of the Canada Development Investment Corporation to provide loan guarantees as part of an Indigenous loan guarantee program and authorizes the payment out of the Consolidated Revenue Fund by the Minister of Finance of amounts that are required in respect of those guarantees.
Division 26 of Part 4 authorizes the payment of up to $1.3 million to entities or individuals involved in the government’s engagement in a pilot project for the creation of a Red Dress Alert.
Division 27 of Part 4 provides that the subsidiary of VIA Rail Canada Inc. incorporated with the corporate name VIA HFR - VIA TGF Inc. is, as of the date of its incorporation, an agent of His Majesty in right of Canada and may enter into contracts, agreements and other arrangements with His Majesty as though it were not such an agent.
Division 28 of Part 4 amends the Impact Assessment Act , in response to the majority opinion of the Supreme Court of Canada on the constitutionality of that Act, to, among other things,
(a) align the preamble and purpose provision with the primary objective of that Act, which is to prevent or mitigate significant adverse effects within federal jurisdiction — and significant direct or incidental adverse effects — that may be caused by the carrying out of physical activities;
(b) replace the definition “effects within federal jurisdiction” with “adverse effects within federal jurisdiction” and, in doing so,
(i) restrict the definition to non-negligible adverse changes,
(ii) limit transboundary changes to those involving the pollution of transboundary waters and the marine environment, and
(iii) include, in respect of federal works or undertakings and activities carried out on federal lands, non-negligible adverse changes to the environment or to health, social and economic conditions;
(c) ensure that the impact assessment process applies only to those physical activities that may cause adverse effects within federal jurisdiction or direct or incidental adverse effects;
(d) ensure that, in deciding if an impact assessment of a designated project is required, one factor that the Impact Assessment Agency of Canada must take into account is whether another means exists that would permit a jurisdiction to address those effects;
(e) amend the final decision-making provisions to provide for an initial determination as to whether the adverse effects within federal jurisdiction and the direct or incidental adverse effects are likely to be, to some extent, significant, and then, if so, provide for a determination as to whether those effects are justified in the public interest; and
(f) improve cooperation tools to better harmonize the impact assessment process with the processes for assessing effects that are followed by provincial and Indigenous jurisdictions.
Finally, it also includes transitional provisions.
Division 29 of Part 4 amends the Judges Act to increase the number of salaries authorized for judges of superior courts other than appeal courts. It also reduces in a corresponding manner the number of salaries authorized for judges of provincial unified family courts.
Division 30 of Part 4 amends the Tax Court of Canada Act to provide that, if a party to a proceeding under the general procedure of the Tax Court of Canada is not an individual, that party must be represented by counsel, except under special circumstances.
Division 31 of Part 4 amends the Food and Drugs Act to, among other things, authorize the Minister of Health to
(a) establish rules for the purpose of preventing, managing or controlling the risk of injury to health from the use of therapeutic products, other than the intended use, or the risk of adverse effects on human beings, animals or the environment from the use of a drug intended for an animal;
(b) exempt any food, therapeutic product, person or activity from the application of certain provisions of that Act or its regulations; and
(c) deem, on the basis of decisions of, information or documents produced by, a foreign regulatory authority, that certain requirements of that Act or its regulations are met in respect of a therapeutic product or food.
Finally, it also includes a transitional provision.
Division 32 of Part 4 amends the Tobacco and Vaping Products Act to authorize the provision of customs information to the Minister responsible for that Act for the purpose of the administration and enforcement of that Act and to authorize that Minister to disclose information to other federal ministers for certain purposes.
Division 33 of Part 4 amends the Criminal Code to broaden the criminal interest rate offence to prohibit a person from offering to enter into an agreement or arrangement to receive interest at a criminal rate and from advertising an offer to enter into an agreement or arrangement that provides for the receipt of interest at a criminal rate. It also repeals the provision that requires the consent of the Attorney General prior to commencing proceedings related to the offence.
Division 34 of Part 4 contains measures that are related to money laundering, terrorist financing and sanctions evasion and other measures.
Subdivision A of Division 34 amends the Proceeds of Crime (Money Laundering) and Terrorist Financing Act to, among other things,
(a) permit information sharing between reporting entities for the purpose of detecting and deterring money laundering, terrorist financing and sanctions evasion;
(b) authorize, subject to certain conditions, the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) to disclose certain information to provincial and territorial civil forfeiture offices and to the Department of Citizenship and Immigration;
(c) authorize FINTRAC to publicize additional information pertaining to violations of that Act; and
(d) extend the application of that Act to cheque cashing businesses.
It also makes consequential amendments to the Personal Information Protection and Electronic Documents Act and the Cross-border Currency and Monetary Instruments Reporting Regulations .
Subdivision B of Division 34 amends the Income Tax Act and the Excise Tax Act to allow provincial or superior court judges, a judge of a superior court of criminal jurisdiction or a judge as defined in section 552 of the Criminal Code to grant on application by a Canada Revenue Agency official the authorization to use device or investigative technique, or procedure or otherwise do any thing provided in a warrant, for purposes of tax investigations.
Subdivision C of Division 34 amends the Criminal Code to provide for an order to keep an account open or active and for a production order to require the production of documents or data that are in a person’s possession or control on dates specified in an order that fall within the 60-day period after the day on which it is made.
Division 35 of Part 4 amends the Criminal Code to, among other things,
(a) create new offences in respect of motor vehicle theft, including an offence concerning the possession or the distribution of an electronic device suitable for committing theft of a motor vehicle, and in respect of criminal organizations; and
(b) add, as an aggravating factor, evidence that an offender involved a person under the age of 18 years in the commission of an offence.
It also makes consequential amendments to other Acts.
Division 36 of Part 4 amends the Radiocommunication Act to, among other things, prohibit the manufacture, import, distribution, lease, offer for sale, sale or possession of certain devices specified by the Minister of Industry. It also amends that Act to establish as an offence or a violation the contravention of that prohibition.
Division 37 of Part 4 amends the Telecommunications Act to, among other things, require telecommunications service providers to provide their subscribers with a self-service mechanism that allows them to cancel their contract for telecommunications services or modify their telecommunications service plan and to inform those subscribers before the expiry of their fixed-term contract, as well as in other specified circumstances, of other service plans that those providers offer. It also amends that Act to prohibit the charging of certain fees.
Division 38 of Part 4 amends the Corrections and Conditional Release Act to, among other things,
(a) provide that the Correctional Service of Canada is responsible for implementing any arrangement — approved by the Minister of Public Safety and Emergency Preparedness — entered into by the Commissioner of Corrections and the Canada Border Services Agency with respect to the support that the Service may provide to the Agency to assist in the exercise of certain powers or the performance of certain duties and functions;
(b) control the access of the inmates of a penitentiary to a designated immigrant station adjacent to the penitentiary and the access of the immigration detainees of a designated immigrant station to a penitentiary adjacent to the station; and
(c) provide that, in exigent circumstances, staff members of the Service may provide additional support to detention enforcement officers of the Agency to assist them in the exercise of certain powers or the performance of certain duties and functions.
It also amends the Immigration and Refugee Protection Act to define the term “immigrant station”, to provide that an area of a penitentiary may be an immigrant station only if it is designated under the Corrections and Conditional Release Act and to set out the circumstances under which a person detained under that Act may be detained in a designated immigrant station.
Finally, it provides for the repeal of those amendments on a specified date and includes a transitional provision.
Division 39 of Part 4 contains measures related to public debt and the borrowing of money.
Subdivision A of Division 39 amends the Financial Administration Act to clarify that certain regulations and directions do not apply to contracts related to the borrowing of money entered into by the Minister of Finance.
Subdivision B of Division 39 amends the Borrowing Authority Act to increase the maximum amount of certain borrowings.
Division 40 of Part 4 amends the Trust and Loan Companies Act , the Bank Act and the Insurance Companies Act to require certain financial institutions to make available information respecting diversity among directors and members of senior management.
Division 41 of Part 4 amends the Trust and Loan Companies Act , the Bank Act and the Insurance Companies Act to extend the period during which federal financial institutions governed by those Acts may carry on business.
Division 42 of Part 4 amends the Federal Courts Act to provide that the Federal Court has jurisdiction to hear applications for judicial review of decisions of the Social Security Tribunal on the extension of time to make a request for review or reconsideration under the Canada Disability Benefit Act . It also amends the Tax Court of Canada Act and the Department of Employment and Social Development Act to, among other things, provide the Tribunal with jurisdiction to hear appeals of decisions made under the Canada Disability Benefit Act and require that matters related to income raised in those appeals be referred to the Tax Court of Canada.
Division 43 of Part 4 amends the Controlled Drugs and Substances Act to repeal provisions related to the ministerial power to exempt supervised consumption sites from the application of that Act. It also amends that Act to allow for the making of regulations respecting authorizations for supervised consumption and drug checking services and includes transitional provisions.

Budget Implementation Act, 2024, No. 1

[Kevin Lamoureux, Liberal, Winnipeg North, MB]

Mr. Speaker, I ask for leave to present questions on the Order Paper.

[The Deputy Speaker, Chris d'Entremont]

Is that agreed?

[Some hon. members]

Agreed.

The House resumed consideration of Bill C-69, An Act to implement certain provisions of the budget tabled in Parliament on April 16, 2024, as reported (with amendments) from the committee, and of the motions in Group No. 1.

[Parm Bains, Liberal, Steveston—Richmond East, BC]

Mr. Speaker, it is always an honour to stand in the House to debate on matters on behalf of the great people of Steveston—Richmond East. Today, it is to continue on the debate on Bill C-69, the budget Implementation act for budget 2024, which is about reinforcing the promise that all Canadians should have a fair chance to build a good life, and about continuing to build a country that works for everyone. We are going to do that by building more affordable homes, by making life cost less and by growing the economy in a way that is shared by all.

Today I would like to talk about one element of Bill C-69 that could improve financial outcomes for Canadians: consumer-driven banking. Every Canadian deserves access to affordable, modern banking services to help them pay their bills, save money, receive their government benefits and build their credit. Budget 2024 includes measures to lower banking fees by capping non-sufficient fund fees, modernizing free and affordable bank account options, expanding financial help services, doing more to crack down on predatory lending and launching new consumer-driven banking tools.

Consumer-driven banking, also known as open banking or consumer-driven finance, provides a way for people and small businesses to securely transfer their financial data to different service providers, including banks, credit unions and accredited financial technology companies, fintechs. This could include apps that use data to provide automated budgeting and savings advice, help keep track of bills, secure a loan, find a better deal on insurance or on a currency exchange rate and track monthly rent payments to build up credit.

Consumer-driven banking provides real-time access to all financial accounts, products and services in one place and access to personalized tools and products to help improve financial health. It can play an important role in the future of the Canadian economy and increase consumers' choice and control over their financial data. It can help make life more affordable and even help young Canadians when it is time to buy a first home.

However, so far, in the absence of a framework, fintechs have been limited in their ability to develop new financial tools, largely due to a reliance on an unsecured process called screen scraping, which pulls data from a bank account by reading the account information. This requires consumers to share their banking credentials with fintech companies. An estimated nine million Canadians currently share their financial data this way, which raises security, liability and privacy risks to consumers and the financial system. I presume there may be hon. members present who have gone through this process and felt uneasy about it, as I have.

As first announced in the 2023 fall economic statement, the government published Canada's consumer-driven banking framework along with budget 2024, in order to drive an innovative consumer-driven banking system in Canada. As announced in budget 2024, the Financial Consumer Agency of Canada, FCAC, is mandated to oversee, administer and enforce Canada's consumer-driven banking framework.

FCAC's existing financial literacy and consumer education mandate make it well placed to help guide consumers who engage in consumer-driven banking. The mandate was informed by an extensive review of international jurisdictions and is in line with international best practices, offers administrative efficiency and allows for the timely delivery of consumer-driven banking in Canada.

At this point, I should also stress that the government would not be privy to any personal information or data.

I will move now to the bill before us. Bill C-69 introduces legislation to implement key components of the framework, including a new act, the consumer-driven banking act, and amendments to the Financial Consumer Agency of Canada Act. These legislative updates would establish the foundational elements of the framework, including governance and scope, as well as criteria and the process for the technical standard.

The amendments to the FCAC Act would create a senior deputy commissioner for consumer-driven banking, who would be responsible for the supervision of the framework. The commissioner of FCAC would retain full administrative control of FCAC and would continue to report to the Minister of Finance and Parliament. As well, the consumer-driven banking act would require FCAC to maintain a public registry of participating entities in the framework.

Once implemented, the framework would regulate access to financial data, providing Canadians and small businesses with safe and secure access to financial services and products that would help them manage and improve their finances.

The framework would also align with those of our largest trading partners, including the United States. In order to facilitate oversight of provincial entities while respecting their jurisdiction, provincial entities would be able to opt in to governance, supervision and participation. In the case of provincial credit unions, provinces would retain the authority to impose their own requirements.

Importantly, the functional scope for participating entities would be limited to “read access”. This means that participating entities would only be able to see, not change, the data held by another participating entity should a consumer request it. The scope would not include payment initiation, or “write access” as it sometimes is called. Furthermore, data could be obtained only if a consumer provides consent to the participating entity.

Access to data would be limited to what is specified in the legislation, which includes chequing accounts and savings accounts, investment products and lending products such as credit cards, lines of credit and mortgages. Regardless of an entity's size or business model, due diligence of its security controls would be conducted before allowing it to participate in the framework. This would help set an equal and high bar for security measures and give confidence to consumers that their data is safe.

Participating entities would be required to comply with existing privacy legislation as well. The framework would also include additional privacy rules that are unique to financial data sharing to address the provision of express consent to access data, consent management, and revoking access to data shared by a consumer. Participants would be required to have a standardized process for consent and revocation that would be done in a clear, simple and not misleading manner.

The proposed legislation represents a culmination of long-term engagement with industry, consumer groups and experts, and would deliver a made-in-Canada solution to the issue of screen scraping. There is alignment among stakeholders for the government's proposed approach, including fintech and the Canadian Bankers Association.

The government would continue to engage with industry, which would lead on the implementation of the framework in key areas, including technical standards, with oversight from the FCAC. This collaborative work would refine more complex elements, such as the accreditation framework and common rules for privacy, security and liability, to be introduced in additional legislation later this year.

Canada's consumer-driven banking framework, with government-led oversight of security requirements, technical standards and consumer protections, would enable consumers to securely and confidently exercise their right to use and move their data. Once the framework is operational, the government would consult with stakeholders to determine how and when to phase out screen scraping. This would include review of other jurisdictions' approaches to screen scraping.

Canada has a strong, well-regulated financial sector that has proven to be stable, resilient and trusted by Canadians. Consumer-driven banking would contribute to the strength of the sector and protect financial consumers, part of the government's plan to grow Canada's economy in a way that works for everyone. I encourage all hon. members to support the bill.

[Larry Maguire, Conservative, Brandon—Souris, MB]

Mr. Speaker, my colleague did not really reference much in his speech in regard to where the government is at with its spending habits. There is the $61 billion more in spending that virtually every sector, the banking industry and even the government people themselves are saying is leading to continuing inflation.

Can the member tell us what he thinks is wrong with the idea that, as Canadians are telling me, the government raised $54 billion on the GST and it is all going to the interest on the debt this year?

[Parm Bains, Liberal, Steveston—Richmond East, BC]

Mr. Speaker, I encourage the member opposite to look at the responsible measures taken in the spending review right now. If we look at all of the measures in the budget, we see that they are all about productivity. Whether we are talking about $5 billion in loan guarantee programs or whether we are delivering major economic investment tax credits, it is all to increase productivity.

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

Mr. Speaker, I am very pleased to hear my colleague talk about banking services. That is something that Bill C-69 does not talk much about.

I have two short questions to ask him about banking services.

First, does he recognize the authority of Quebec and the provinces in this sector?

Second, does he realize that Bill C-69 will give all of Canada's big banks a huge advantage over the smaller ones like Caisses Desjardins in Quebec?

[Parm Bains, Liberal, Steveston—Richmond East, BC]

Mr. Speaker, a tremendous number of initiatives respect what Quebec has to offer. If we look at the budget, there is $3.4 billion to support young researchers in Canada and Quebec, billions to fight homelessness, $780 million in support for creative industries and $1.5 billion to protect and expand affordable housing. There is a lot in this budget that respects how we are working with Quebec.

[Ryan Turnbull, Liberal, Parliamentary Secretary to the Deputy Prime Minister and Minister of Finance and to the Minister of Innovation]

Mr. Speaker, I always appreciate my hon. colleague's remarks.

Every day we hear in the House the Conservatives talk about the cost of living pressures that Canadians are under. Obviously, they continually make it sound like global inflation has been caused by our government. We know that is not true, and it is misleading to imply that.

We see in this budget numerous measures that would help Canadian families save money on their bills: more child care spaces, the national school food program, dental care, pharmacare and others. Could my hon. colleague speak to how our government is there for Canadians in helping them out with the cost of living pressures they are under?

[Parm Bains, Liberal, Steveston—Richmond East, BC]

Mr. Speaker, I have listed a few things in some of the other answers. For example, the member mentioned the dental program. We have over 500 dentists now signed up in my city of Richmond, British Columbia, who are ready to help those who need help the most. I speak to all of these measures as being a way toward productivity. If people can get help and get a leg-up, they can contribute in a better way.

[Louise Chabot, Bloc, Thérèse-De Blainville, QC]

Mr. Speaker, my colleague talked about homelessness. The Auditor General of Canada has said that for the government to meet its target of reducing chronic homelessness by 50% by 2030, it would have to invest seven times more money than it is currently investing.

What does my colleague have to say to address the homelessness crisis?

[Parm Bains, Liberal, Steveston—Richmond East, BC]

Mr. Speaker, I encourage the member to look at all the measures that were put into this budget. They amount to billions to help with homelessness and to give people another chance.

The House resumed consideration of Bill C-69, An Act to implement certain provisions of the budget tabled in Parliament on April 16, 2024, as reported (with amendments) from the committee, and of the motions in Group No. 1.

[Richard Cannings, NDP, South Okanagan—West Kootenay, BC]

Mr. Speaker, it is a pleasure to rise here this evening to speak to Bill C-69, a bill that enacts certain provisions of the budget tabled back in April. I spoke to the budget at that time, back in the spring, but I would like to add a few comments now that it is before us as an implementation act because it is an important budget. All budgets are important, but this one in particular is important.

As we all know and hear every day, Canadians are struggling, especially to find housing, to pay the rent, to dream of paying a mortgage or even to find a roof to put over their heads. They struggle with the cost of groceries and the price of gas at the pumps.

Also, we are facing a climate crisis that is bringing us fires, floods and other extreme weather events that cause widespread stress to Canadians, their health, their homes and their livelihoods. Last year's fires in my riding and surrounding areas not only destroyed houses, but put tens of thousands of people on evacuation. They ended the tourist season abruptly in early August, just when all my local businesses are poised to make an income after months of losses. Then a mid-winter freeze caused serious damage to grapevines and peach, apricot and cherry orchards, which are part of the agriculture sector, a real backbone of the economy in my riding. Any budget has to recognize and face the climate crisis head-on.

While Canadians are struggling, big corporations and wealthy Canadians are doing better than ever. Big oil companies are making a killing. Big grocery companies are making record profits. Budgets are documents that make choices that will help Canadians. That is what we hope. It is clear that it is ordinary Canadians who need that help, not big corporations and wealthy individuals.

The NDP has used its leverage in this minority Parliament to deliver results for people. In this budget alone, we have compelled the Liberal government to build more homes, preserve existing affordable housing, protect renters and bring in universal single-payer pharmacare, starting with contraception and diabetes medications and devices. I want to pause there because, while they are all critical, people may not realize how critical diabetes medications are. A friend of mine, who was 27 years old, died because he could not afford the full cost of his insulin medication to monitor and help his diabetes. That will not happen again.

This budget would establish a national food program. Canada is the only G7 nation without a national school food program. A quarter of Canadian kids live in homes that are food insecure. This is another NDP initiative put in this budget. We are very proud of it. The Conservatives voted against it.

This budget would reverse damaging cuts to indigenous services. It would invest in accessible, high-quality, non-profit child care, another NDP initiative. It would establish a dedicated youth mental health fund. It would double the volunteer firefighters tax credit. I will talk more about that later.

As I said, several elements in this budget are key NDP initiatives. They are the pillar of this budget, I would say. However, they would not be there without the NDP's pressure. This is not an NDP budget. It would be different if it was an NDP government. We would go much further in some areas to help Canadians who need it the most.

I will talk about some of the victories, the things that will change the lives of Canadians for the better, and some things that are conspicuously missing.

We have the homebuyers' plan, which has been enhanced by increasing the withdrawal limit from $35,000 to $60,000. The government is also cracking down on short-term rentals by denying income tax deductions on income earned.

Short-term rentals are one of the big issues in my riding. My riding is a very popular area for people to come visit and spend their vacations at all times of the year. Increasingly, it is becoming more and more difficult to find housing, simply because it is very profitable for people to buy houses simply for investment and to put up as short-term rentals. This will help curb that, along with some important provincial legislation that has just been introduced. That is very welcome news.

This budget implements the Canada health transfer 5% growth guarantee. Canadians expect the federal government to support provinces in delivering the health care that we need. We all know that our health care system is struggling as well. This will help keep it going and give us the health care that we need, which we are so proud of, health care that was brought to us, again, by the NDP back in the 1960s.

I mentioned the volunteer firefighters tax credit. It used to be $3,000. There are almost 100,000 volunteer firefighters across Canada. They are the people who keep us safe in small communities from one end of the country to the other, and yet they receive so little in return for that brave and hard work.

They used to get a $3,000 tax credit. That was raised to $6,000 in this budget, again, based on an NDP initiative by my colleague from Courtenay—Alberni, who put forward a private member's bill to increase that to $10,000. We will take $6,000 as an improvement, but let us keep supporting our firefighters.

There is one thing that is not in this budget. With regard to wildfire firefighters who are not part of local firefighting corps but who fight wildfires in the summer, one would be surprised to find that they are not defined as firefighters under the CRA regulations. Firefighters, policemen and other people, such as ambulance drivers, get special dispensation under the Income Tax Act to put more money aside for their retirement. Wildfire firefighters do not. They are specifically excluded, and we need to change that, to call wildfire firefighters “firefighters”. It was not in this budget, but I hope it will be soon.

While I am talking about firefighters, another thing that is not in this budget is a national wildfire-fighting force. We need this, and 75% of Canadians have come out in support of such a force, which would be there to support local and provincial firefighting services. We need this help. It is clear that things are getting worse year by year. We cannot go on as we have been. We have been depending on the armed forces to help us. This year, the armed forces have said they are not going to be there this summer. We need to do something different, and I think a national wildfire-fighting force is the way to go.

I will also mention the good news about support for research. Finally, the government is putting funding into the scholarship and fellowship funding for young researchers in Canada. That funding had remained stagnant for 20 years. Students were living in poverty, and that has finally been fixed. That is very good news.

I will just finish by mentioning the Canada disability benefit, something the NDP has been fighting for, and yet we are very disappointed that this was brought in as a $200-a-month benefit, something that will not get people with disabilities out of poverty. People with disabilities live in poverty all across the country. No province gives them enough money to live above the poverty line. We had a chance to finish that, make it right, and we will continue fighting for people with disabilities, to make sure that they will not live in poverty.