I cannot help but notice that whenever the Liberal government creates a program, it seems to help the biggest companies while ignoring the small businesses that actually drive Canada's economy.
For example, the steel industry, with us today, contributes about $4 billion to Canada's GDP. Small and medium-sized businesses contribute hundreds of billions, something like 300 times more. SMEs make up 99% of all businesses in Canada. They employ nearly two-thirds of private sector workers and generate roughly half of our economic output.
If the goal is to strengthen the Canadian economy, create jobs and increase productivity, where would we get the biggest return? Is it by creating another targeted program for a handful of large companies or by making it easier for millions of entrepreneurs and small business owners to grow, hire and invest?
What makes this even more frustrating is that often these large businesses, for example, the steel industry, are largely foreign-owned, well over 50%, whereas SMEs are truly Canadian businesses. They're owned by Canadians and rooted in their communities. They reinvest their profits here at home, yet they're the last to receive attention.
The government calls this a strategy to support Canada, but when a program is designed around a relatively small segment of the economy, while businesses that generate half of our GDP are largely left out, it raises a fair question. Are we really focusing on where Canada gets the greatest economic benefit? If we want a stronger economy, the biggest opportunity isn't at the top—no shade on the steel industry—it's in the millions of small and medium-sized businesses that keep our country running every day.
My question, Michelle Auger, as we sit here today is this. Can a Canadian SME clearly identify what new opportunities this buy Canadian initiative creates for them?