Finance Committee on Feb. 14th, 2022

[The Chair, Liberal, Peter Fonseca]

Members, no crosstalk—

[Jake Stewart, Conservative, Miramichi—Grand Lake, NB]

On a point of order, Mr. Chair, they're obviously hiding something or they'd answer the question.

[The Chair, Liberal, Peter Fonseca]

No crosstalk, members. Questions should of course be relevant to Bill C-8.

Mr. McLean, you have the floor.

[Greg McLean, Conservative, Calgary Centre, AB]

Chair, I think my questions are very relevant to Bill C-8.

With regard to money laundering, Transparency International has indicated that about $140 billion to $180 billion of foreign money laundering happens in Canada every year, primarily in Canadian real estate. We're suggesting that we're going to collect $150 million on a 1% surtax, a gross overstep, as far as jurisdiction goes, onto municipal taxes. That's what we're going to collect. It's one-tenth of 1% of the money laundering. Would it not be more feasible to actually enforce and strengthen our money-laundering laws in Canada?

Let me ask any official who wants to answer that, please, if that would be better advice to give this government.

[The Chair, Liberal, Peter Fonseca]

I don't think there's anybody who wants to answer that, or who can answer that, at this time, Mr. McLean.

We are moving to the Liberals now.

Mr. Baker, you have the floor for five minutes.

[Yvan Baker, Liberal, Etobicoke Centre, ON]

Thank you very much, Mr. Chair.

I have a couple of points before I ask my first question. First of all, I think what we've heard in summary from our officials about the vacancy tax is that it's really designed to achieve three things. One is to raise revenue to help provide funding to the government for some of its housing programs, which, as we've all heard at this committee, are so important in providing especially some of our most vulnerable the opportunity to own a home and have access to affordable housing.

Second, it will incent some of those folks who are non-residents who do own property and are keeping it vacant to no longer keep it vacant, as my colleague Ms. Dzerowicz cited from the Deputy Prime Minister's remarks. It also just holds common sense that if non-residents are forced to pay a 1% tax for keeping their home vacant, they're not going to want to keep it vacant; 1% on a property of $1 million or $2 million is a lot of money.

Third, one of our officials spoke to the fact that some investors, some non-resident owners of property, are more likely to part with the property. I think that's a third important concept. I would add to this that they may be less likely to buy those properties if they're going to plan to hold them just for investment purposes.

We heard at this committee in prior hearings that the primary reason that the price of housing continues to skyrocket in Canada is a shortage of supply. This is one of the measures—one of many, as we know—designed to make sure that we help increase that supply by making sure that vacant properties are no longer vacant.

I just wanted to summarize what we've heard thus far. I think it's really important to bring that all together based on that.

I have a question about something else.

Bill C‑8 would add a further $100 million to the safe return to class fund as part of the government's commitment to improving ventilation in the schools and supporting teachers, who have worked so hard during this period.

[Julie Dzerowicz, Liberal, Davenport, ON]

I have a point of order, Mr. Chair.

[The Chair, Liberal, Peter Fonseca]

Go ahead on your point of order.

[Julie Dzerowicz, Liberal, Davenport, ON]

I'm sorry to interrupt my colleague, but the bells are ringing. I think we need consent to continue.

I think we should continue for the next 15 minutes, if we can get approval from everyone.

[The Chair, Liberal, Peter Fonseca]

Thank you, MP Dzerowicz.

Members, I'll look to you, but it has been the practice that during the bells we have allowed up to about seven minutes prior to the vote. We will suspend at that time.

Actually, at that time we'll suspend and we will conclude this panel, because we'll come back for our second panel once we come back from the vote.

I'm looking to all the members to see if everything is....

I see thumbs up.

[Adam Chambers, Conservative, Simcoe North, ON]

Just on a point of order, Mr. Chair, if it works for the rest of the committee, I would recommend that we just pause for the 30 seconds it takes to vote virtually and then resume and finish the meeting.

It only takes a couple minutes to do that. I don't think any of us who are physically present intend to leave the room.

[The Chair, Liberal, Peter Fonseca]

I don't know if any members are going into the House.

I'll look to the members on that.

[Julie Dzerowicz, Liberal, Davenport, ON]

Can we give ourselves five minutes in case we need to do a powder room break as well?

[Adam Chambers, Conservative, Simcoe North, ON]

Sure.

[The Chair, Liberal, Peter Fonseca]

We'll look to continue and then provide that five to seven minutes at the end.

Thank you.

Go ahead, MP Baker.

[Yvan Baker, Liberal, Etobicoke Centre, ON]

Thanks, Chair.

How much time do I have left?

[The Chair, Liberal, Peter Fonseca]

You have two minutes and 15 seconds.

[Yvan Baker, Liberal, Etobicoke Centre, ON]

Thank you.

Bill C‑8 would add a further $100 million to the safe return to class fund as part of the government's commitment to improving ventilation in the schools and supporting teachers, who have worked so hard during this period.

Would the officials please explain how the fund operates and the purpose of this supplementary amount?

[Galen Countryman]

I can respond to that question.

The original safe return to class fund was a $2-billion fund that was distributed in the last fiscal year to provinces and territories to assist with a safe return to class for students, including ventilation and other measures to improve the health and safety of students and staff at schools.

The $100-million top-up that was proposed in the economic fiscal update is specifically targeted to ventilation measures. It will be provided to provinces and territories to fund things like the repair and replacement of heat, ventilation and air conditioning units, increased maintenance of existing systems to ensure optimized operation and other interventions that would bring in more outdoor air or result in cleaner air, such as the installation of operable windows or portable air filtration units.

[Yvan Baker, Liberal, Etobicoke Centre, ON]

That's great. Thank you very much.

I know that many schools have taken advantage of this program. In my riding, Etobicoke Centre, I think 35 schools have received assistance from the fund. I know it was very well received by the schools, students and teachers in my riding.

So thank you for the work you've done on that project.

[The Chair, Liberal, Peter Fonseca]

Thank you, MP Baker.

Members, we are moving to the fourth round.

First up are the Conservatives and MP Lawrence for five minutes.

[Philip Lawrence, Conservative, Northumberland—Peterborough South, ON]

Thank you.

I'm going to take the first two minutes, then I'll split the remainder with Mr. Stewart.

I have quick question, which I'll direct to Mr. Baylor, so we don't have the same gap as we had in the last round.

Mr. Baylor, answering yes or no, can you say with certainty that all farmers will receive at least 90% of their carbon tax back in this rebate?

[Maximilian Baylor]

To be clear, the rebate is a portion based on the expenses, and the idea there—

[Philip Lawrence, Conservative, Northumberland—Peterborough South, ON]

Thank you, Mr. Baylor. That's a no.

Can you say that all farmers will receive at least 50% of the carbon tax they paid back? Please answer yes or no.

[Maximilian Baylor]

As we've discussed, in terms of how much they're getting back from what they paid, that would be tabulated, I don't—