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

[Leah Gazan, NDP, Winnipeg Centre, MB]

Mr. Speaker, I love working with my colleague from New Westminster—Burnaby. He is such a wonderful House leader and colleague.

In saying that, he is absolutely right. The Liberals are talking about fairness. They need to go after offshore tax havens and rich CEOs, and they need to take that money and spread it out to those who are being left behind.

Every day, I have to sit in the House of Commons and listen to Conservatives and Liberals talk about how people are struggling. However, when a solution is put on the table, they are nowhere to be found. This solution is well-researched, and the Province of P.E.I., for example, wants to pilot it.

This would mean that people living in poverty could actually live in dignity. These are the people who are falling through the cracks of the current social safety net, folks that I have to hear the member from Carleton put down and poor bash daily. He talks about people who are poor as being criminal. He fails to talk about the very wealthy, the corporate elite, as being related to the reason so many are poor and very few are rich.

This would save lives. This would ensure that people could live in dignity and with human rights.

[Anna Roberts, Conservative, King—Vaughan, ON]

Mr. Speaker, I enjoy working with my colleague from Winnipeg Centre on the status of women committee.

I have been listening to her speech, and I can understand how disappointed she is. We are disappointed on this side of the House as well. Very simply, will she vote against the budget, yes or no?

[Leah Gazan, NDP, Winnipeg Centre, MB]

Mr. Speaker, I love working with the member from King—Vaughan.

My answer to that is no, I will not vote against the school meal program, dental care, pharmacare and a national child care program. These are things that have been moved along and that the NDP fought for.

I will not vote against a red dress alert, something that I got in, along with advocates, with the support of the leadership of the NDP. It is a shame that, in the House of Commons, we talk more about stolen cars than we do about murdered and missing indigenous women and girls. I will absolutely continue to fight.

I will not vote against a red dress alert. I will not vote against pharmacare and free contraception. I cannot, particularly as a feminist and as somebody who has fought for much of my life to get something in place for a red dress alert. Along with advocates in the NDP, I have fought for this for a number of years. I cannot in good conscience vote against that.

[The Deputy Speaker, Conservative, Chris d'Entremont]

I just want to remind my hon. colleagues to keep their questions and comments as short as possible so everyone gets to participate. I see two more people who would like to ask questions, but we have run out of time.

Resuming debate, the hon. member for London West.

[Arielle Kayabaga, Liberal, London West, ON]

Mr. Speaker, it is a pleasure to join and participate in today's debate in support of Bill C-69.

This legislation would advance many of the government's key priorities in budget 2024, “Fairness for Every Generation”. Budget 2024 is our government's plan to build a Canada that works for every generation, where younger generations can get ahead, where their hard work completely pays off, and where they can buy or rent a home of their own. It is our plan to ensure that everyone has a fair chance at a good, middle-class life.

The government is working to implement this bill quickly, because Canadians deserve bold investments in housing, in a stronger social safety net and in economic growth that creates good-paying jobs.

Bill C‑69 will have a positive impact across the country, and I am already optimistic about the impact in my riding, London West. With budget 2024 and Bill C‑69, we are taking action to ensure fairness for every generation and to drive the kind of economic growth that will ensure every generation can reach its full potential. We are aiming for nothing less. I would now like to talk about some of the measures we are putting forward to achieve that goal.

Our government understands that more needs to be done to build more homes faster and make housing more affordable. I am delighted to see that we are quickly moving forward with the bold measures that are in Bill C-69. For example, we are enhancing the homebuyers' plan to help first-time homebuyers at a time when saving for a down payment is more difficult. More specifically, we are increasing the withdrawal limit from $35,000 to $60,000 and temporarily adding three years to the grace period before homebuyers are required to start making their repayments to an RRSP.

We are also cracking down on short-term rentals by denying income tax deductions on income earned from short-term rentals that do not comply with the provincial or local restrictions. By doing so, we are unlocking more homes for Canadians to live in, because that is what Canadian homes should be for. They are for Canadians to live in. Also, to ensure that these homes are available for Canadians to live in and not used as a speculative asset class for foreign investors, we are banning foreign buyers of Canadian homes for an additional two years. This means that the ban will now be extended until January 1, 2027.

The government is also taking action to make life more affordable for Canadians. For example, Bill C‑69 amends the Telecommunications Act, making it easier to find better Internet, home phone and cell phone services.

We are making amendments that will give Canadians more flexibility to renew or switch plans, with a clear understanding of the choices and services that will best suit their needs. We will also launch a consumer-driven banking framework, also known as open banking or consumer-directed finance, to provide Canadians and small businesses with safe and secure access to a wider range of financial services and products.

Another way we are making life more affordable is by giving law enforcement agencies the tools they need to protect Canadians from auto theft. We will also introduce more serious criminal offences related to auto theft as well as new restrictions on the possession and distribution of devices used to steal vehicles.

I am also particularly proud of the measure that would benefit many firefighters and search and rescue volunteers. We are going to double the volunteer firefighters tax credit, and the search and rescue volunteers tax credit as well. These credits would go from $3,000 up to $6,000 in recognition of the essential roles and the sacrifices that the volunteers make to keep Canadians safe. These are volunteers who are Canadian heroes and they deserve all the recognition.

Budget 2024 is also about growing Canada's economy. In Bill C-69, we are including many measures that would do exactly that. We would grow Canada's economy by further advancing indigenous economic participation through the indigenous loan guarantee program. Thanks to the creation of this program, indigenous communities across Canada would be able to share in Canada's prosperity and benefit from new opportunities ahead.

This new loan program, with up to $5 billion in loan guarantees, will unlock access to capital for indigenous communities to create economic opportunities and support their economic development priorities as well.

We are moving forward with investment tax credits that are designed to boost investment and secure Canada's competitiveness while supporting our country's goal of net-zero emissions by 2050.

In budget 2024, the government recently announced the next steps in our plan to attract significant investment to Canada. These investments will help us create good-paying jobs in Canada and accelerate the development and deployment of clean energy and clean technology.

More specifically, in Bill C-69, we are also going to deliver two investment tax credits, the up-to-40% clean hydrogen and the 30% clean technology manufacturing investment tax credits. Passing these two tax credits into law means that we are going to secure a cleaner and more prosperous future for Canadians today and tomorrow by securing more private investment in our country.

To wrap up, with budget 2024, our government is putting forward a plan to deliver fairness for every generation in Canada. We are introducing measures to give everyone a fair chance at a middle-class life here in Canada.

As discussed, we are moving forward in Bill C-69 with measures that are going to make housing more affordable, make our communities safer and continue to grow Canada's economy while creating clean and good jobs. All Canadians will greatly benefit from the measures that are included in Bill C-69. I am already eager to see the multiple benefits that are going to happen for the Londoners of London West.

Bill C-69 is a good bill, and I invite all of my colleagues to join me and vote in favour of this important legislation for Canada's future.

It is a shame that there are members of the House who have already indicated that they will not be voting for this budget. This means that they are voting against the food program that we have put forward for children, as well as the dental care for seniors and for young children. They are voting against Canadians, basically. It is a shame.

[Damien Kurek, Conservative, Battle River—Crowfoot, AB]

Mr. Speaker, I appreciated the speech that was just given by my colleague, but something that she failed to articulate in her speech was the fact that the continual deficits, the massive increases in spending, are contributing to inflation. The government seems to be taking credit for inflation continuing to rise at 2.7%. That is not a decrease but simply a slowing of what has been an exceptional increase.

I would like her to comment on that, but also on the fact that the Deputy Prime Minister and Minister of Finance has announced that the government is increasing the debt ceiling for our country by $495 billion. I am wondering if the member would be able to shed some light onto why such an incredible increase in the national debt ceiling is required, in light of the circumstances that we find ourselves in, especially with the inflationary environment.

[Arielle Kayabaga, Liberal, London West, ON]

Mr. Speaker, maybe my colleague was not in the House of Commons today when the Deputy Prime Minister and Minister of Finance announced that inflation has been reduced to 2.7%, which is the lowest in three years.

There was also some good news last Thursday, that our AAA credit rating was again affirmed by Moody's, with a stable outlook, which keeps Canadians' debt payments low.

Maybe he can vote for Canadians by supporting the dental care plan, by supporting the child care benefit, and by supporting helping Canadians, helping seniors and making sure that Canadians are set up for a good future.

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

Mr. Speaker, I would like to ask my colleague what measures the budget contains that will strengthen federal programs, like EI and OAS, or reduce wait times for services like immigration or Service Canada. What measures has the government implemented to strengthen its own social safety net programs? That is my question.

For my comment, I would point out that it is easy to say that members who vote against the bill are voting against food programs in our schools, but food programs in our schools come under Quebec's jurisdiction. Housing comes under Quebec's jurisdiction. Health comes under Quebec's jurisdiction. The reason we are voting against it is because the federal government is not minding its own business.

[Arielle Kayabaga, Liberal, London West, ON]

Mr. Speaker, once again, I appreciate the questions from my Bloc Québécois colleague. I want to respond to her comment about the federal government interfering in provincial jurisdictions. I was a municipal councillor well before I came here. The reason why we announced housing measures for the entire country is that the cities and provinces were unable to meet the needs of their own populations.

My colleague talked about social investments. No other budget has provided for as many social investments as budget 2024. Over $3.87 million will be invested in housing by 2031. We want Canadians and Quebeckers to have a roof over their heads. That is why we are continuing to invest. I encourage my colleague to support this budget, which will ensure that Quebeckers also have a roof over their heads and a place to call home.

[Heather McPherson, NDP, Edmonton Strathcona, AB]

Mr. Speaker, I work with my colleague quite closely on the global co-operation caucus, and I know how much she cares about people in Canada and around the world.

As an Albertan, I know that inflation in Alberta is among the highest in the country and people living with disabilities are really struggling. We have heard words from the government that it wants to support people living with disabilities, but when we saw what was actually brought forward, what a disappointment that was, what a betrayal that was. The idea that Canadians living with a disability are not able to live with dignity in our communities is heartbreaking. All of us should be very concerned when the Government of Canada is not supporting the most vulnerable within our communities.

I wonder if the member has some comments on the failure of this budget to meet the moment, to meet the needs of people living with disabilities.

[Arielle Kayabaga, Liberal, London West, ON]

Mr. Speaker, I also enjoy working with my NDP colleague on many subjects that connect us.

On the subject of disability, it is important to note that, number one, we are investing in housing for all Canadians. Earlier last year, I put forward a motion that was passed and that I think my colleague voted for, which was to support the national housing strategy having a council that would include people with disabilities. That is a first step to making sure that we are including people with disabilities in the conversation around housing and around their needs.

We are also launching the new Canada disability benefit. It is a beginning. We have heard from communities. We consulted them and we continue to talk. With all the measures in this budget, they can also find a lot of support. This is a beginning to do more, and we will continue to work together to make sure that we are responding to the most pressing needs of the many Canadians who live with disabilities and have family members who live with disabilities.

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

Mr. Speaker, I just want to start off by saying it had been predicted that this year's NDP-Liberal budget was likely to be the worst budget since 1982 when the Prime Minister's father was running the government. That prediction was made by the former Liberal-appointed Bank of Canada Governor, David Dodge.

Mr. Dodge was speaking about the budget before he even saw it, but what he already observed was $40 billion in announced new spending. Someone does not have to be a former Bank of Canada governor to realize that doubling down on a failed approach is a bad idea. The proof is out there in the lived experience of real people across our country. Canadians deserve better.

In my speech today, I will highlight a number of reasons the Liberals have failed to respond to the needs of everyday Canadians, including the good people of Westman.

First, the NDP-Liberal budget fails on tax relief for struggling Canadians. At a time when life is costing far more for Westman residents, the Prime Minister's budget does nothing to bring the relief families desperately need. As the cost of gas, groceries and home heating continue to increase, the Liberals have deliberately chosen not only to leave the carbon tax in place, but also to increase it even more, despite the financial hurt Canadians are feeling.

Thanks to the NDP-Liberal coalition, the Prime Minister was able to hike the carbon tax by 23% on April 1, further driving up the cost of everything. The fact is that 70% of Canadians oppose this tax hike, and 70% of the provincial premiers have asked the Prime Minister to stop this painful tax increase. The simplest, fairest thing to do is to axe the carbon tax for everyone, everywhere, for good. That is what Conservatives are working toward.

Instead of siding with Canadians facing an affordability crisis, it was very frustrating to see the NDP and Liberals join forces to save the Prime Minister from a carbon tax election last month. In fact, the parties have voted together 22 times to keep this tax grab in place since 2019. Those who are watching can rest assured that common-sense Conservatives will continue fighting to axe the tax and bring home lower prices for everyone.

Second, the NDP-Liberal budget fails on measures to restore affordability. Under the Liberal government's watch, the cost of rent, mortgage payments and down payments has doubled. The Liberals' record deficits have driven interest rates sky-high. Food banks received a record two million visits in a single month last year, with a million more people expected in 2024.

In my riding, the Samaritan House food bank gave out nearly 36,000 hampers last year, a dramatic increase of 12,000, which was a 50% increase above its normal annual average. This is in line with trends across the whole country as families struggle to make ends meet and put food on the table.

As the Prime Minister and his ideological environment minister keep taxing the farmers who grow the food and the truckers who transport the food, at the end of the day, they are adding to the cost of food for everyday Canadians who buy it. That is why one thing the Liberals could have done to bring tax relief is axe the carbon tax.

Third, the Liberals could have moved to stop inflationary spending. The finance minister green-lighted a deficit of $39.8 billion, which would bring Canada's national debt to a staggering $1.25 trillion. It has been proven time and time again that it is these exact deficits that are driving inflation in Canada and making life more unaffordable for Canadians across our whole country.

The ever-increasing rates of spending in Canada are causing the Bank of Canada to maintain or even raise the interest rate, which is now at 5% versus the 1% of two years ago. These were the worst two years for millions of families who trusted the Liberal Prime Minister when he claimed that interest rates would stay low forever.

That is why Conservatives demanded that budget 2024 include a commitment to cap spending, with a dollar-for-dollar rule, to bring down interest rates and inflation. The government must find a dollar in savings for every dollar of spending, so Canadians no longer see the value of their dollar drop thanks to rising inflation.

The Prime Minister's reckless spending is leaving less money available for health care. This year, Canada will spend a shocking $54.1 billion on interest servicing our national debt, more money than the entire Canada health transfer. Should the NDP-backed Liberal government continue on its spending spree, it would simply mean more money for wealthy bankers and bondholders who own our debt, while less money flows to the doctors and nurses who keep our communities healthy. If we continue to go down this road, the pot of cash that is available for health care in Canada will only continue to get smaller, endangering our rural and remote hospitals, clinics and care homes.

Another failing is the government's approach to housing. In its 2015 platform, the Liberals said they would “conduct an inventory of all available federal lands and buildings that could be repurposed, and make some of these lands available at low cost for affordable housing in communities where there is a pressing need.” That did not happen. Now its 2024 budget is restating that commitment nine years later.

Under the Liberal government, Canada is building fewer homes than we did in the mid-1970s when we had half the population, making housing more expensive for everyone. Reannouncing old pledges will not help to build the 5.8 million homes that are needed to restore housing affordability for Canadians. Even in Brandon, the rent of a modest unit has risen from $989 to $1,242, an increase of more than $250 a month, not to mention the rising cost of everything else. A common-sense Conservative approach would build homes, not bureaucracy, by requiring that cities permit 15% more homebuilding each year as a condition for receiving federal infrastructure money.

This budget “falls short for Canadian farmers.” That is a statement we heard from the Canadian Federation of Agriculture. Despite a specific Conservative demand to axe the carbon tax on farmers and food by passing Bill C-234 in its original form, no such commitment has been made by the Liberals. Instead of saving farmers $1 billion between now and 2030, which is exactly what passing Bill C-234 in its original form would do, the Liberals continued to ignore farmers. The result is that all Canadians will continue to pay more at the grocery store because higher expenses for farmers lead to higher prices for consumers. Conservatives will keep fighting to bring home lower food prices for all Canadians.

Another failing of the Liberal budget is our growing national debt. The Prime Minister has doubled down on $40 billion of new spending, $2,400 in new government debt and new inflationary spending alone for every Canadian. Not only have the deficit and debt grown at substantial rates, but the interest payments due on the debt continue to grow at skyrocketing rates. In fact, all of the GST Canadians pay this year will be needed to pay for the Liberal government's interest payments on the debt. For the first time in a generation, we are spending more on debt interest than on health care.

I would ask every Canadian watching to remember this. Every time they pay at the cash or close a business transaction, the extra 5% they pay in goods and services tax is all going toward interest on the Prime Minister's debt. After nine years of the Prime Minister, Canada is now spending more money paying off interest on his debt than on Canada health transfer to provinces. Meanwhile, housing prices have doubled and food banks are overwhelmed.

The decline in the Canadian economy since 2019 created by the Liberal Prime Minister means Canadians are now poorer by $4,200 per person. While American GDP per capita growth has grown by 7% since 2019, Canada's has fallen by 2.8%. This is the single-largest underperformance of the Canadian economy in comparison to the United States since 1965. It is long past the time to bring home affordability and restore common sense. Unfortunately, I could not support budget 2024 as it failed on both accounts.

[Heather McPherson, NDP, Edmonton Strathcona, AB]

Mr. Speaker, one of the things that I find disappointing about the budget is the lack of support for seniors in our communities. I have spent many days speaking to seniors. Recently, during one of our constituency weeks, I met with seniors in 15 different residences to talk about the concerns that they have. My issue is that I do not know how seniors in Alberta could trust the Conservatives, knowing the record that they have, knowing that Stephen Harper was the person who put in place cuts to support for OAS, such as making sure a senior is 67 instead of 65 before they apply for OAS, as well as knowing that the leader of the Conservative Party has very clearly, historically, been against the Canada pension plan.

I wonder if this member could comment on the support that a Conservative government would give to seniors because, historically, Conservatives have been extraordinarily bad for seniors in this country.

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

Mr. Speaker, that question was a little misleading. I know that Mr. Harper increased the GIS for seniors by 25% during his term in power.

I just want to say that the person who just spoke continues to support the coalition with the Liberal government that has caused all the inflationary spending in the first place. That leaves us, as I said, in one of the worst precarious financial positions the country has ever been in, which is not good for seniors.

I spoke to many seniors on the last break week that we had, back in my constituency. They are very concerned about the increased price of gas, home heating fuel, the carbon tax and inflationary issues as well. They are also concerned about the billions and billions of dollars that have caused us to have a $1.25-trillion debt now. They know that the amount that they're paying for food at the grocery stores is certainly inflationary.

[Mark Gerretsen, Liberal, Kingston and the Islands, ON]

Mr. Speaker, the member spoke a lot about carbon tax.

Can he explain to the House the difference between this carbon tax that we have in place now versus the one that he ran on in 2021?