Evidence of meeting #1 for COVID-19 Pandemic in the 43rd Parliament, 1st Session. (The original version is on Parliament’s site, as are the minutes.) The winning word was point.
A video is available from Parliament.
Liberal
Seamus O'Regan Liberal St. John's South—Mount Pearl, NL
Thanks, Kevin.
I just wanted to thank the chair and thank all the staff for putting this together. It's miraculous and marvellous.
To take the honourable member's question, Mr. Chair, we'll be working with the BDC to make sure this is rolled out as quickly as possible. She is right in pointing out that when we asked several groups, including the Canadian Association of Petroleum Producers, what the top priorities were, they all named liquidity. We have measures for small to medium-sized businesses, and we hope to hit larger ones soon. Those small to medium-sized initiatives will cover about 85% of the workforce.
Liberal
The Chair Liberal Anthony Rota
Just a moment, we have a point of order.
Mr. Rayes and Mrs. DeBellefeuille want to raise on a point of order.
Bloc
Claude DeBellefeuille Bloc Salaberry—Suroît, QC
The interpreter is really struggling to do his work because the minister's mouth is not close enough to the microphone.
Liberal
The Chair Liberal Anthony Rota
Okay, we're having a problem.
Mr. Rayes, does your point of order concern the same issue?
Conservative
Alain Rayes Conservative Richmond—Arthabaska, QC
Yes. A number of ministers have spoken, and many of them did not have a microphone or headphones. Given the situation, they should be the first to have the best possible equipment, so that we can do our work properly. I want to emphasize that.
Liberal
The Chair Liberal Anthony Rota
Okay. That is exactly the reminder I was going to make at the end of the meeting.
Thank you very much, Mr. Rayes.
Mr. O'Regan, could I get you to be closer to the microphone? There seems to be a problem with sound. We'll continue from there. How is that?
Liberal
Seamus O'Regan Liberal St. John's South—Mount Pearl, NL
Okay. I'll speak more loudly, and I'll be sure to have a headset microphone for the next session, Mr. Chair.
To finish off what I said to the honourable member's question, we'll be working with the Department of Finance and with BDC to make sure that those liquidity measures are rolled out as quickly as possible.
Conservative
Shannon Stubbs Conservative Lakeland, AB
Okay, Minister, but the commitment was made more than 34 days ago. The uncertainty about whether or not assistance is coming is exactly what is causing companies to go bankrupt and lay off workers. They can't actually access liquidity, which, I agree with you, is the top priority, and it's not available yet. By your answer so far, I guess there's no date on which companies can actually apply for the loans. I'm assuming, from that, that you can't answer the question of what date money will actually get to businesses.
The survival of the gas sector is going to be crucial for Canada's recovery and future growth. That's the reality, not just for one or two provinces, but for all of Canada. As you know, in 2018 oil and gas provided just over 500,000 jobs and contributed $108 billion to Canada's GDP. That's six times higher than auto and 10 times higher than aero, and that was even after losing hundreds of billions of dollars in projects and hundreds of thousands of Canadians had already lost their jobs.
Maybe you can answer this for the clarity of companies. The BDC says that companies “must have been financially viable...prior to the current economic environment” to qualify. On what date did the “current economic environment” start?
Liberal
Seamus O'Regan Liberal St. John's South—Mount Pearl, NL
Mr. Chair, first of all, let me say that I am keenly aware of the repercussions of the dual crises on the oil and gas industry. It's not only the crisis of demand and destruction, caused by the fact that we didn't fly for this meeting—none of us took planes—and that people obviously aren't driving nearly as much. Plus, we have a crisis that was initiated by the price war with Saudi Arabia and Russia, and we are dealing with that on an international level.
I live in Newfoundland and Labrador, a province that is even more exposed to oil and gas royalty reductions and price instability.
[Technical difficulty—Editor] that we will be working with the Department of Finance to make sure liquidity measures are rolled out as quickly as possible.
Liberal
The Chair Liberal Anthony Rota
Sorry, that was me. I pushed it off instead. We all make mistakes.
We have about a minute left: 30 seconds for the question, 30 seconds for the answer.
Conservative
Shannon Stubbs Conservative Lakeland, AB
Okay, well, this is what I hope, in a future session, the minister can answer immediately, then. What defines the “current economic environment”? What criteria define “financial viability”? These are the details that need to be known in order for companies to be able to stay afloat and survive right now, and then to grow in the future and get people back to work.
Minister, the finance minister had said that oil and gas businesses could access the wage subsidy while they were waiting for this additional support, but I've been told that Canadian energy companies of all sizes that are based in Canada, employ Canadian workers, contractors, consultants and suppliers, and pay Canadian taxes but generate the revenue from outside of Canada currently don't qualify even for the wage subsidy. That's why so many oil and gas companies can't actually access the supports already announced. Will you commit to working on fixing that problem?
Liberal
Liberal
Seamus O'Regan Liberal St. John's South—Mount Pearl, NL
Most certainly, Mr. Chair, I'm committed to making sure that the wage subsidy affects those workers most deeply affected by these dual crises. There's no question. I will report back later to this House.
Thank you.
Liberal
Conservative
Brad Vis Conservative Mission—Matsqui—Fraser Canyon, BC
Mr. Chair, yesterday the member for Brampton Centre tweeted and then deleted an announcement of $3 billion for bee farms. Everyone knows that bees are crucial for our ecosystem and our agricultural sector, especially in my riding with its large concentration of Canada's blueberry farms. However, it is inappropriate, and certainly not a team Canada approach, for a Liberal MP—
Conservative
Tamara Jansen Conservative Cloverdale—Langley City, BC
I can't hear Mr. Vis. I am on the English channel.
