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, Parliamentary Secretary to the Leader of the Government in the House of Commons]

Mr. Speaker, and then there was reality. The reality is that we have a government that is actually building literally thousands of homes in co-operation with other levels of government.

Contrast that to the leader of the Conservative Party, who, when he was the minister of housing, in one year, built, and I need two hands for this, six houses. I can suggest to you that the programs being put in place would have a positive, profound impact by working with other levels of government, contrary to the position that the Conservatives have, which is to cut the funding and beat the municipalities over the head to try to get them to build more homes. That is the Conservative approach.

Why does the member believe the Conservative approach is going to build any houses?

[Scott Aitchison, Conservative, Parry Sound—Muskoka, ON]

Mr. Speaker, would anybody accept the premise of that ridiculous question? That is not the Conservative approach. The Conservative approach is to reward results, not to pay for promises, which is the Liberal approach. They keep spending money, borrowing money and pushing the cost of paying off that debt onto the next generation, which is already thinking they will never be able to own a home of their own. The fact of the matter is that cities are a big part of the problem. They are on the front lines of the crisis, but they are also part of the problem. Just rewarding them with millions and millions of dollars, while they make it more expensive, is idiotic.

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

Mr. Speaker, I thank my colleague. I have the pleasure of working with him on the Standing Committee on Human Resources, Skills and Social Development and the Status of Persons with Disabilities, where we have conducted many studies on the housing issue.

It is all well and good to talk about housing and affordable housing, but many witnesses have said that the issue cannot be reduced to supply and demand alone. We should not just focus on supporting private sector construction; we also need to invest in social housing. We need to invest in non-market funding to support non-profit organizations and co-operative housing. That is where the needs are pressing.

Does my colleague agree with such a measure?

[Scott Aitchison, Conservative, Parry Sound—Muskoka, ON]

Mr. Speaker, the simple answer is this:

Yes, I agree.

There are lots of examples where governments can work together in partnership with community organizations. When I was the mayor of Huntsville, we gave land to different community organizations to build affordable and deeply affordable units. The federal government owns all kinds of buildings, thousands and thousands of buildings that are underutilized, and all kinds of land. We could make that land available in partnership with organizations and could reduce the cost of getting these units built, and we could get a lot more done.

[Peter Julian, NDP, New Westminster—Burnaby, BC]

Mr. Speaker, I certainly agree with the comments about the Liberal government; what we have seen is a doubling of housing prices under the Liberal government. There is no doubt. Up until now, until the NDP forced the Liberals to actually make investments in affordable housing, we saw very little action for affordable housing. The problem is, of course, that the Harper government did the same thing. It doubled housing prices and did not construct affordable housing. In fact, it was a disastrous decade for social housing, co-operative housing, and it was probably the worst period in our history.

I wanted to ask my colleague why he thinks the Harper government failed, and why have Conservatives not apologized for their part in the housing affordability crisis?

[Scott Aitchison, Conservative, Parry Sound—Muskoka, ON]

Mr. Speaker, I have a very quick answer for that member. The Harper government did not fail. In fact, houses cost half the price back then. Rent was half the price back then. In fact, with the crisis we have today, the genesis of it was with the Pierre Elliott Trudeau government, in fact. It was actually the Stephen Harper government that recognized we had a problem with homelessness in this country and that came up with the housing first program. It doubled the amount of money that the previous Liberal government was putting into homeless programs. It was the one that caught on, that recognized we had a problem and that started to do something about it. It was not a failure. The Liberals love to talk about how little investment there was in the Harper era. There was investment, and it was not in a crisis.

[Marc Dalton, Conservative, Pitt Meadows—Maple Ridge, BC]

Mr. Speaker, this is a headline. It says, “'Impossibly unaffordable': Vancouver 3rd-worst city for housing”.

[Scott Aitchison, Conservative, Parry Sound—Muskoka, ON]

Mr. Speaker, that is true.

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

Mr. Speaker, I would like to take a moment to acknowledge the passing of a former parliamentarian just a few days ago. Gilles Perron, who was the member for Rivière-des-Mille-Îles for 11 years, passed away after a brief battle with cancer. He will be remembered as a fighter, someone who was close to his constituents and dedicated to his community. He will also be remembered for his extraordinary commitment to veterans. Any progress made on post-traumatic stress disorder is thanks to him. Dearest Gilles, thank you and rest in peace.

Despite this sad news, I am pleased to rise today to speak to the bill to implement certain provisions of budget 2024, Bill C-69. I would like to begin by saying that the Bloc Québécois has decided to vote against this bill. Why? It is because too many aspects of the bill go against our values, the needs of Quebec society and what we have been protecting from the very beginning, that is, Quebec's areas of jurisdiction. They are also other provinces' areas of jurisdiction, provinces that might be less combative than Quebec, but, basically, these are our jurisdictions. As I see it, all of this is having a negative impact on the environmental balance of Quebec and Canada.

We have before us a mammoth omnibus bill. We are talking about 650 pages. It contains 67 different measures, 23 tax measures and 44 non-tax measures. Objectively speaking, this bill has some positive aspects, but clearly it has too many irritants for the Bloc Québécois to agree to support it. I will focus my speech on just two points. Given that we are talking about a 650-page bill, we obviously have to limit ourselves. Two things in this bill are very important to me, and Quebeckers are concerned about them too. I am talking about oil and the environment. Oil gets a lot of ink. Far be it from me to make extremist or—how shall I put this—demagogic comments, because people still need oil.

We still need oil, unfortunately, but if we were able to advocate for a well-thought-out, calculated phase-out of oil and gas extraction, that would help us move on to something else and look to the future in a better light. However, our government and the Conservatives are obviously not taking that direction. The implementation of budget 2024 is clear proof of that.

Who here believes that there is a single oil company in Canada that needs subsidies to operate? No one, obviously. I think that even the Conservatives would agree with me. Ottawa is subsidizing oil companies to the tune of a whopping $30.3 billion in tax credits. Subsidizing companies that have record revenues year after year does not add up and is even rather obscene.

The massive subsidies the federal government is giving oil companies in the form of tax credits will total $83 billion by 2035. Six tax credits were introduced by the Liberals in the last two budgets. What is more, this $83 billion is being given to companies whose shareholders are 70% foreigners, people from outside Canada. This creates a significant flight of capital out of Quebec and Canada. It is important to mention it.

As for the profits generated by these same oil companies, we are talking about $38 billion from 2020 to 2022. Yes, we, the taxpayers, are paying oil companies to continue polluting when they are making record profits. That is an insult to our intelligence and, of course, to our environment.

Similarly, the government has implemented a clean technology investment tax credit of $17.8 billion. That is also a rather striking and appalling example. Under the guise of promoting clean energy, this tax credit actually seeks to encourage oil companies to use nuclear reactors, which would, of course, enable them to extract more bitumen and make more gas available for export at taxpayers' expense.

This bill contains another tax credit, the $12.5-billion carbon capture, utilization and storage investment tax credit. The problem is that this money once again enables oil companies to extract more oil. What is more, let us not forget that carbon capture is still in its infancy, in a completely experimental phase. The goal is to recover some of the carbon dioxide emitted and then store it underground, usually in old, empty oil wells.

Interestingly, former Liberal environment minister, Catherine McKenna, did an interview with a news site called 24 heures on December 5, 2023. She had this to say about the investment tax credit for carbon capture, utilization and storage:

It should never have happened, but clearly the oil and gas lobbyists pushed for that....We are giving special access to companies that are making historic profits, that are not investing those profits into the transition and clean solutions. They are returning those profits to their shareholders, who for the most part are not Canadian, and then they ask to be subsidized for the pollution they cause, while Canadians have to pay more for oil and gas for heating.

I guess the Liberals need to leave their party in order to speak freely and intelligently.

I will now move on to my second point. People have probably been outside today and are likely aware of the massive temperature increase forecast for this week. We are in for a second heat wave, and it is not even officially summer yet. The temperature with humidex will be 45°C. Some 135 million people will be affected by this extreme temperature. There are also the 19 pilgrims who died today in Saudi Arabia. Let us also think of the teachers and students who are finishing their year and their exams in extreme heat. Above all, I am thinking of seniors whose health is fragile and who will be affected by these extreme temperatures. There are also the farmers who are struggling to make sure they can harvest their crops, which provide us with healthy food.

There is absolutely nothing in this budget to mitigate the impacts of climate change. Do we still need to convince the Liberals that it is nearly too late to take action? It is unacceptable to ignore this issue and not prioritize measures to ensure the quality of life for future generations. The Bloc Québécois cannot just sit back and wait for a plan that will not be presented until next fall.

In closing, I would add that the government did not pick up on any of the priorities put forward by the Bloc Québécois before the economic statement. These are priorities that would respond to the real and urgent needs of Quebec and would serve Canadians as well. I will simply conclude by saying that the Bloc Québécois will continue to stand up for the interests of Quebec and its citizens against unfair and harmful measures like the ones in Bill C‑69.

[Marc Dalton, Conservative, Pitt Meadows—Maple Ridge, BC]

Mr. Speaker, I want to extend my condolences to the family of Gilles Perron.

Our country relies on exports. Energy, especially oil, represents 10% of our exports.

I know that Germany, Japan and Greece told the Prime Minister that they would like to have access to these products. The Prime Minister responded by saying that he would think about it, that he did not know whether there was a framework or if this would work.

My question is this. Why would the Bloc Québécois rather that the money go to Saudi Arabia and Venezuela instead of Canada?

[The Speaker, Greg Fergus]

Before giving the floor to the member for Rivière‑des‑Mille‑Îles, I would like to commend my colleague from Pitt Meadows—Maple Ridge on his French.

The hon. member for Rivière‑des‑Mille‑Îles.

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

Mr. Speaker, I thank my colleague for his condolences to Mr. Perron's family.

This is not about the money going to Canada, Saudi Arabia, Brazil or wherever. It is about creating a plan to get off fossil fuels. The Liberals are not really offering us that plan, and neither are the Conservatives, that is for sure.

We still need oil. Unfortunately, I still have a car that runs on oil, for a short time at least. We need to create a plan to move away from fossil fuels, plain and simple.

[Kevin Lamoureux, Liberal, Parliamentary Secretary to the Leader of the Government in the House of Commons]

Mr. Speaker, with its targets, the government is well on its way to ending fossil fuel subsidies. There are a couple of exceptions that I am aware of. For example, thinking of the environment, something needs to be done with orphan wells. There is government support to deal with them. Also, in certain situations in the north, we will see some subsidies.

Can the member give an indication as to what other specific subsidies he is talking about? I ask because I am not necessarily aware of them.

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

Mr. Speaker, I was only talking about subsidies to oil companies, which are often indirect.

My colleague mentioned wells, which are reused for carbon capture. That is where the captured carbon is buried. That is the current plan.

I am not saying it is 100% negative. At least they are being used for that rather than being rehabilitated, as they were supposed to be a few years ago, if memory serves. A lot of money was injected into rehabilitating these wells, which, incidentally, were created by oil companies that have not had to foot any of the bill for the damage they have caused to the environment.

[Lori Idlout, NDP, Nunavut, NU]

Uqaqtittiji, I am glad the member talked about oil and gas companies. I want to ask him a question similar to one that I have asked in the House before regarding how investments could be made, especially during this time of climate change.

The Liberals have been offered a solution: Nunavut communities could help combat climate change by transitioning to not relying on diesel anymore. However, the Liberals are refusing to fund that project. Nunavummiut could contribute to combatting it.

I wonder if the member can explain to us why investing in Nunavut through the Kivalliq hydro-fibre link project could help Nunavummiut and Canada reach their targets, which, in my view, they are far from reaching.