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

[Lindsay Mathyssen, NDP, London—Fanshawe, ON]

Madam Speaker, to build off that, when my hon. colleague talked about values, he spoke about the disability benefit. I too am very disappointed. A lot of people in my riding were counting on the Liberals to come through on that promise and unfortunately they are not.

Could the member talk about the value-based system through which consecutive governments legislate poverty, what it means to ensure that people have a livable income they can rely upon and what they give back to society when that occurs?

[Don Davies, NDP, Vancouver Kingsway, BC]

Madam Speaker, I yearn for the day when we can bring in an authentic New Democrat federal budget in this country to deliver those values. We do not share the values of the other parties in this House. We believe that no Canadian should live in poverty and that positive measures and policies can realistically achieve that. For instance, my hon. colleague from Winnipeg Centre has a bill in this House for a guaranteed livable income. That is a creative idea.

Frankly, the New Democrats have been the driving force for creative ideas in this country since 1960. Health care was a system we created. Pharmacare was a system we created. Dental care is a system we created, along with guaranteed livable incomes and social welfare supports. Everybody in society should be able to get a public post-secondary education and free education in universities, colleges and trades.

These are the ideas of the New Democrats. They will share the bounty of this country and make sure that the wealth created by Canadians from coast to coast to coast is shared equally so that everybody has a fair chance to get ahead. I would like—

[The Assistant Deputy Speaker, Carol Hughes]

The hon. member's time is up.

Resuming debate, the hon. Minister of Northern Affairs, Minister responsible for Prairies Economic Development Canada and Minister responsible for the Canadian Northern Economic Development Agency.

[Dan Vandal, Liberal, Minister of Northern Affairs]

Madam Speaker, it is a great honour to rise in this chamber to talk about Bill C-69, the budget implementation act, which is focused on strengthening the foundations for a good middle-class life, especially for young people so they do as well as or even better than their parents. This is our commitment to Canadians, and we are committed to doing it in a fiscally responsible way.

I will get into a bit about the structure of Canada's economy, the bones of our economy.

The economy in Canada is resilient, and we will deliver the strongest economic growth in the G7 next year. Despite everything we have been through, with almost four years of the pandemic and the disruptions it has caused, like supply chain disruptions and inflation, Canada will continue to lead the G7 in growth.

Our debt-to-GDP ratio is among the best within the G7, and more than 1.1 million more Canadians are employed today than before the pandemic. If we let that sink in, we realize that it is an incredible statistic. Our unemployment rate remains at record lows, and with our fiscally responsible approach to the budget, our AAA credit rating is assured.

At the same time, too many Canadians are not feeling this growth. Too many Canadians are struggling with inflation, the high cost of everything, like groceries, and the lack of housing, which they cannot afford.

Our growth is undoubtedly a strength, but we need to follow a responsible path to ensure that everyone benefits from this growth and that young people can get ahead and find their place in the world.

As I mentioned, one of our biggest challenges is the housing crisis. Most people will agree that the best way to bring home prices back down within reach is to focus on increasing supply and to do it quickly. That is exactly what we are doing. This budget would enable significantly more apartment blocks to be built across Canada. In fact, our caucus was in Winnipeg recently to announce $120 million for the City of Winnipeg from the housing accelerator fund. We are cutting red tape to help homeowners get shovels in the ground quicker, and we are unlocking public lands for residential housing.

Budget 2024 has a long list of targeted relief to make housing more affordable. By collaborating with builders and leveraging the resources of the federal government, in partnership with provinces and municipalities, we will build close to four million new homes by 2031. We are addressing the housing crisis head-on, with solutions to build homes faster, while continuing our commitment to Canada's middle class.

Inflation has fallen dramatically over the last two years. In fact, inflation went down several weeks ago, the Bank of Canada announced. Two years ago, remember, it was 9%, and the Bank of Canada predicts that we will return to the target rate of 2% by 2025.

While the numbers on paper are positive, our government knows that affordability is still a real issue for Canadians. To lower costs for families, we have expanded our social safety net.

Our $10-a-day child care will save Manitoba families over $2,600 a month per child this year alone. Also, we are bringing in dental care. It will save families hundreds of dollars every year. In fact, in Manitoba alone, in 2023, 28,300 children benefited from the Canadian dental care program. The next time the Leader of the Opposition says this program is not real, that it does not do anything, we have to call him out on that. By the summer, people aged 65 and up and those under 18 will be covered by the dental plan. By 2025, nine million uninsured Canadians will be covered.

We also know that too many kids go hungry at school, which is a barrier to their success. Our government is launching the national school food program, which will help 400,000 more children have the food they need to succeed in school. This is how we support fairness for every generation. The Conservatives have already voted against this. They will continue to vote against this. Our government understands that we need to look ahead to the future and keep supporting families.

I want to focus on the Prairies, as minister of PrairiesCan. We know that the $23 million of direct funding from budget 2024 to the department of PrairiesCan will support completion of the world-leading research infrastructure at the University of Saskatchewan's centre for pandemic research, the Vaccine and Infectious Disease Organization, in the great city of Saskatoon. VIDO is getting $23 million. The result will be better preparedness to tackle the next pandemic, with expertise from Saskatchewan.

Budget 2024 will also invest $20 million over three years to support performing arts organizations in Manitoba, Saskatchewan and Alberta, and it proposes another $3 million over two years for the operations of the RCMP Heritage Centre in Regina. The Conservatives, of course, will vote against all of this, but the result will be a more vibrant cultural industry in communities all across western Canada.

The regional development agencies, including PrairiesCan, would share over $200 million over five years to build on Canada's AI advantage. The result will be more real support to help start-ups across the Prairies to bring new technologies to market, something that will benefit key sectors like agriculture, the clean-tech economy and manufacturing.

We also have critical investments for innovative housing solutions, such as the design and upscale of modular homes, the use of 3-D printing, mass timber construction and panelized construction. The result will be more targeted funding for PrairiesCan to invest in more innovative homebuilding in communities big and small in Alberta, Saskatchewan and Manitoba. This all means new possibilities.

Our government is also empowering entrepreneurs to take their space in Canada's economic success. I am particularly proud of the work PrairiesCan is doing with regard to inclusion in the small business sector, ensuring that no one is left behind as we move forward.

Take our Franco-Manitoban community, for example, which is a major contributor to Manitoba's prosperity. PrairiesCan is actively engaged with 15 bilingual communities in Manitoba, building strong relationships and helping them develop their economic opportunities. In Manitoba, it pays to be bilingual.

With the support of our government, PrairiesCan helps develop and implement funding programs and develops projects that have an impact on Franco-Manitobans. Part of PrairiesCan's role as an investor and facilitator is to create opportunities and provide financial support to for-profit and not-for-profit organizations facing economic challenges in Manitoba. For example, the Economic Development Council for Manitoba Bilingual Municipalities received funding to provide services that help with training, access to capital, mentoring or information services, networking and marketing advice.

Another important project is the $1.2 million in funding that PrairiesCan is giving to the Association of Manitoba Bilingual Municipalities to strengthen the labour market in Manitoba's rural municipalities.

There is much for the north as well. Budget 2024 would provide $23.2 million this year for the nutrition north subsidy program to lower the cost of healthy food and other essential items that people use every day. Food security is key in the north and the Arctic. That is why we are committing over $100 million to support the harvesters support grant and the community food programs fund to promote indigenous communities in implementing locally led solutions to food insecurity. Nutrition north will be further expanded to include the market food component, called the community food programs fund, with an additional $20 million per year over three years.

Based on feedback from indigenous partners, recent improvements have transformed nutrition north into a broader and more inclusive program that respects and responds to the unique food security issues of indigenous and northern communities. By the way, indigenous and northern communities co-developed the harvesters support grant, something that provides country food and traditional food to Inuit and northerners in the Arctic. We know nutrition north alone will not solve food insecurity in northern communities, but it is constantly evolving with feedback from northerners from across the region, and we are committed to making it more efficient and effective.

Another one of my priorities for the north, which is covered by budget 2024, includes measures to help clarify and reduce timelines for major projects by advancing the principle of one project, one review. It commits to engagement with partners, northern premiers and indigenous governments. The budget is about how government can do great things for the people it serves.

To me, the bottom line is that we are driving economic growth across the country, including for northerners and people living and working on the Prairies, to ensure that every generation of Canadians can reach their full potential. That is why we must pass Bill C-69 and continue the momentum.

[Marty Morantz, Conservative, Charleswood—St. James—Assiniboia—Headingley, MB]

Madam Speaker, I know the member opposite, my colleague from Manitoba, was talking about how great the economy is. In front of me, I have a document showing data published by the International Monetary Fund in April. It is a table entitled “The U.S. Economy is Outperforming Those of Other G7 Countries.” The United States, from 2019 to 2024, is up 8%. Second is Italy, third is Japan, fourth is France, fifth is the U.K. and sixth is Germany. Madam Speaker, guess which one is dead last. Canada's GDP per capita shrank by 2%.

Where is all the economic growth the member spent the last 10 minutes talking about?

[Dan Vandal, Liberal, Saint Boniface—Saint Vital, MB]

Madam Speaker, the simple facts are that there are 1,100,000 more people working in Canada now than there were before the pandemic. Our unemployment rate has been and is at record lows. That is really something that is unheard of during these times of disruption and difficulty.

Liberals know inflation is too high. I believe we have turned the corner on the rate of inflation. The Bank of Canada predicts that, within another year, or another year plus a few months, inflation will be near 2%. We will continue the growth. It is well known that our debt to GDP is the lowest in the G7. We are proud to roll out programs that help Canadians, such as dental care, pharmacare and $10-a-day day care. They are all programs the Conservative government, and my colleague from Winnipeg, voted against.

[Mario Simard, Bloc, Jonquière, QC]

Madam Speaker, in his speech, my colleague referred to investments in clean energy. We know that, in Alberta and western Canada, those investments are mainly being made in carbon capture and storage strategies. However, many experts have said that these strategies are a big waste of money. What is more, a Deloitte report commissioned by the Alberta government was just published today, and it found that, if we want to meet our greenhouse gas emissions cap targets, the best solution is not to invest in carbon storage strategies, which are far too costly, but to reduce oil production.

Does my colleague not think that the investments in the budget for carbon capture and storage are just an exercise in futility and a waste of money?

[Dan Vandal, Liberal, Saint Boniface—Saint Vital, MB]

Madam Speaker, that is a very important question for the future of Canada. We know that the three prairie provinces are very strong in energy development and always will be. The question is what sort of energy they will develop. Obviously, the transition to a green economy will require a lot of technology and different approaches.

What matters to us the most is ensuring that people keep their jobs in their own industry. We are going to make a transition that makes sense.

[Kelly McCauley, Conservative, Edmonton West, AB]

Madam Speaker, my colleague across the way talked about the lowest net debt-to-GDP ratio, but that only matters if the government is including the assets of the CPP, the Canada Pension Plan, but excluding the liabilities for future payout. When one looks at the gross debt, we are actually the 22nd worst out of 29 in the entire OECD, and we are near the bottom of the G7.

Could the member across the way commit to using the real numbers instead of the dodgy fact or the dodgy misinformation he is using today?

[Dan Vandal, Liberal, Saint Boniface—Saint Vital, MB]

Madam Speaker, with all due respect, that is a bunch of baloney. The member talked about the Canada Pension Plan; let us talk about the Canada Pension Plan, old age security and the benefits they bring to Canadians. Let us talk about medicare and dental care.

Our government is investing in Canadians. If one factors in all those benefits in the economic formulas, however one wants to organize them, one will realize that Canada is the best country in the world to live in.

[Mario Beaulieu, Bloc, La Pointe-de-l'Île, QC]

Madam Speaker, I congratulate my colleague on his French, and I salute all Franco-Manitobans.

We have heard several Liberal ministers say that they are going to take action to protect French in Quebec and that they recognize that French is in decline in Quebec. However, an analysis of the public accounts reveals that 94% of official language funding programs in Quebec are used to strengthen English and are paid to anglophone institutions and lobby groups. Nothing has changed. Nothing has changed in the action plan for official languages 2023-28.

Does my colleague think that continuing to contribute to the anglicization of Quebec will strengthen French outside Quebec?

[Dan Vandal, Liberal, Saint Boniface—Saint Vital, MB]

Madam Speaker, Canada is undeniably a bilingual country. I am proud to represent francophone and Franco-Métis communities in Saint-Boniface and Saint-Vital.

That said, it is hard to make sure that the French language progresses in Manitoba. We need schools and early childhood education. We need more investments to ensure that the francophone community can continue to grow and contribute to our society.

I am not very familiar with the reality in Quebec, but I do know that the French language is under threat across Canada and that we need to make a concerted effort to expand the francophone space.

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

Madam Speaker, I wonder if my colleague could provide his thoughts on an important issue. The Prime Minister came to Winnipeg on three different occasions. He came to visit a north end school; we talked about the national nutritional food program for children. We had the Prime Minister come and work on the issue of housing in the Transcona area. We also had the Prime Minister come to talk at the Grace Hospital about the investment in generations of health care.

Could the member just provide his thoughts in terms of how the different levels of government came together, working in co-operation, to deal with those types of issues?

[Dan Vandal, Liberal, Saint Boniface—Saint Vital, MB]

Madam Speaker, the member for Winnipeg North is absolutely right. The Prime Minister has been to Winnipeg several times over the last few months to make incredible announcements about investments in Canadians, such as a new health care agreement with the Province of Manitoba, as well as investments in nurses, doctors and the many hospitals that serve Manitobans and Winnipeggers. Fortunately, we have a provincial government in Manitoba that was at the table, that was not fighting us. It was contributing its own dollars to keep Winnipeggers and Manitobans healthy. The school food program is an incredibly positive program that was launched, at least in Manitoba, in Winnipeg, in a school with hundreds of kids who were energetic and enjoyed the nourishment.

We know that Canadians are feeling the struggle. Inflation is affecting Canadians. That is why we are investing in Canadians on so many fronts. For the life of me, I do not understand why the other side, the Conservative opposition, continues to vote against everything we are doing.

[Kelly McCauley, Conservative, Edmonton West, AB]

Madam Speaker, to start, I will mention that I am sharing my time with my colleague from Renfrew—Nipissing—Pembroke.

I am pleased to rise to talk to budget 2024, which the government has labelled “Fairness for Every Generation”. We can quite easily say the government is inflicting its Liberal version of fairness on every generation. I am sure Liberals are sitting there on the other side saying, “Why let just boomers suffer through high rent, high food inflation and high crime?” Under the Liberals, the idea is to be fair and make gen X and millennials suffer as well.

Churchill commented, “The inherent vice of capitalism is the unequal sharing of blessings. The inherent virtue of socialism is the equal sharing of miseries.” That is what Canadians are suffering under the Liberal government: the equal sharing of miseries.

Now, I want to look at some of the sharing of miseries under the Liberal-NDP government. We will start with rent. We have a crisis across the country of skyrocketing rent. Rentals.ca reported, “Average asking rents for all residential property types in Canada hit an all-time high of $2,202 in May, surpassing the $2,200 level for the first time.”

That is up 9% from last year. In 2015, when the Liberal government took over, the average rent in Canada was $966. That is a 128% increase in rent. I do not think any Canadians have been receiving a 128% increase in their family income since 2015. Now, even adjusting for the out-of-control Liberal inflation, that is still 28% higher than the inflation-adjusted total compared with 2015.

I want to talk about a couple of examples across the country: In Burnaby, B.C., the average is $2,500, up 8%. In North York, it is $2,300, up 4%; that is the average rent for a one bedroom, by the way. In Ottawa, it is $1,884 for a one bedroom, up 7%; and in Kingston, it is $1,800, up 8.4% from last year for a one bedroom.

Now, luckily for the people in the prairie provinces, those provinces had been spared the high rent increases. However, this is the case no more, thanks to the Liberal government.

In Calgary, a one bedroom is up 6% from last year; Winnipeg is up 9%. Edmonton, my own hometown, is up 16% from last year; Regina is up 16.7% from last year. Saskatoon is up 13% from last year for a one bedroom. Finally, Fort McMurray is up 13%.

That is the reality and the so-called fairness under the Liberal government. Fairness of access to misery is basically what the government has delivered. Mortgage payments have doubled since the government took over. Housing prices have doubled.

I want to read a quote from Bloomberg, the business magazine: “Canada [is] likely sitting on the largest housing bubble of all time”. It is not the largest housing bubble in Canadian history, but of all time. The article argues that “inflated home prices in Canada are a result of...easy money supplied under the [government's] monetary policy.... At the present moment, [there is] risk in mortgage rates climbing”, which we are seeing, “as Canadian bond yields are dragged up, particularly at a time when debt-to-income ratios are sky high.” Canadians, as we are aware, probably have the highest consumer debt-to-income ratio in the world.

The article goes on to say, “The worst part for a housing bubble is when you have [a] credit bubble underneath it”. Again, we have such a high debt-to-income ratio right now. It continues, “The amount of Canadian leverage into the system versus incomes is pretty astronomical — and we’ve seen debt servicing going up dramatically.”

In addition, “There is definitely a risk here that if mortgage rates go higher or unemployment were to rise or we hit the next recession, then this thing does end up in a deleveraging cycle.”

What does the Canada Mortgage and Housing Corporation have to say on this topic? It says that, this year and next, 2.2 million mortgages, worth over $675 billion, will be facing interest rate shock as they come due for renewal. That 2.2 million households is 45% of all households in Canada, and they have mortgage rates coming up for renewal shortly.

CMHC continues, “Most of these borrowers contracted their...mortgages at record-low interest rates and, most likely, at or near the peak of housing prices”. In this country, 45% of mortgages are probably at about the 1.5% to 2% mark, and they are going to have to renew at 5% or 6%. Mortgage “shock”, as CMHC calls it, is hopefully not leading up to what Bloomberg is forecasting, which is a collapse in the housing bubble.

If we remember back to July 2020, the Governor of the Bank of Canada said, “Our message to Canadians is that interest rates are very low and they're going to be there for a long time”. He then said, “If you've got a mortgage or if you're considering making a major purchase, or you're a business or you're considering making an investment, you can be confident rates will be low for a long time.” Maybe Webster's dictionary needs to update its definition of a “long time” to say that it is less than four years.

Of course, we all remember the Prime Minister trotting out in front of his cottage for an interview. When asked about the risks of this massive borrowing and perhaps rising costs to service it, he said, of course condescendingly, “Interest rates are at historic lows, Glen.” Guess what? They are not at historic lows.

If one wishes to have an example of how out of control things are, how fast things can change and how poor the government is at planning and how it hurts Canadians, the supplementary (A)s, which we debated just recently, showed an added $1.9 billion of needed taxpayers' dollars to pay for interest on the debt. This is $1.9 billion more than the calculations the government did just in February when it was doing the main estimates.

The main estimates are of course the cash authorizations required for the entire year. That was done in February. Between February and May, when the supplementary (A)s came out, interest rates were up, resulting in needing $1.9 billion more than the government thought it would have to ask for in February.

We often hear the government talk about the pharmacare plan. Of the 9,000 different available drugs in Canada, it would only cover birth control and diabetes medication. That plan is $1.9 billion for five years. If we think about that, just the government's mistake in February on what interest would cost Canadians on the national debt was off equal to the value of its so-called pharmacare plan for five years.

On taxes, in this budget there is $498 billion projected to be raised in taxes. That is up $166 billion from 2019, which the government is taking from Canadian taxpayers. That is $216 billion more in taxpayers' money being taken by the government since 2015, or 76%. That is up $50 billion from just two years ago, yet somehow we have the government telling doctors, small businesses and farmers that they need to cough up a little more, less Canada slips into some dystopian hell. Again, it is $216 billion more than when the government took over. That is 76%, yet if we do not not get a bit more, Canada will fall into dystopian hell.

The Deputy Prime Minister said, “What kind of Canada do you want to live in [without this extra few billion dollars]? Do you want to live in a country where a teenage girl gets pregnant just because she doesn't have the money to buy birth control?” Apparently, over the last nine years they did have money to buy birth control, but somehow, after $216 billion more in tax hikes against Canadians, now teenage girls are facing this.

Interest on the debt is $291 billion for the next five years. That is equal to an entire tax haul when the Liberals came to power. If one thinks about that, just the interest for five years will be equal to our entire tax haul in the year 2015.

I will end with another quote from Churchill: “Socialism is the philosophy of failure, the creed of ignorance, and the gospel of envy.” I think we can very easily substitute the word “socialism” with “Liberal government” when we look at this budget.