Mr. Speaker, I will be sharing my time with the member for Chambly—Borduas.
In my opinion, this budget is a missed opportunity. We had a chance to help the most vulnerable members of society through the economic crisis, strengthen Quebec's economy and invest in forestry and manufacturing, the industries that are in crisis in Quebec. We have been talking about this for years.
According to Statistics Canada, between December 2007 and December 2008, my riding alone, Trois-Rivières, lost 3,200 out of a total of 69,000 jobs. The people in my riding are hurting, and we were really hoping this budget would offer at least some solutions to the economic crisis. It was vitally important to my constituents. When plants close, there are mass layoffs and people lose their jobs. It is truly devastating, and it is incredibly discouraging. But instead of offering solutions, this government turned its back on Quebec, and the bulk of the federal assistance went to Ontario and the auto industry.
The Bloc Québécois had proposed a number of solutions to this crisis as early as last November. But for purely partisan reasons, the Conservative government rejected these proposals,which promised a better future for Quebec. In addition to amending the equalization formula without consultation and creating a single securities regulator, this budget leaves Quebec's forestry and manufacturing industries in the lurch. MPs from Quebec are going to have to choose between Quebec's interests and Canada's.
Quebec's industrial base is different from the industrial base in the rest of Canada. The federal government had a duty to support Quebec's economy in these tough times. It did not. This budget is clearly anti-Quebec, and it misses the mark.
As far as natural resources are concerned—one of my concerns as a critic—I would like to speak about the forestry sector. This budget afforded the government a golden opportunity to help the forestry and manufacturing sectors. The forests are important to Quebec, with in excess of 200,000 direct and indirect jobs on which whole communities depend. In the Trois-Rivières et Mauricie region alone, thousands of jobs depend on the forests. There is no help for them in this budget. In fact, compared to the $2.7 billion allocated solely to the auto industry, concentrated in Ontario, the $170 million for the forestry industry seems mightly slim. It is clearly inadequate and unacceptable.
As well, of that $170 million, $10 million is earmarked for the promotion of “Buy Canadian” in foreign lumber markets. What can that mean to a company incapable of generating any profit because it has been strangled by one crisis after another for the past five years? What those companies need—as we have said on numerous occasions in this House—is repayable loans and loan guarantees to upgrade their equipment. The federal government's mission is to enable these companies to modernize in times of crisis in order to improve their productivity on the international stage and enable them to recover when the economic situation improves. Yet the conservative government has abandoned the Quebec forest industry.
When this industry has been hit by one crisis after another since 2004, such as the softwood lumber dispute, the forestry crisis, the drop in U.S. demand, and now the financial crisis, the federal government should be helping it get back on its feet. Instead it has done nothing.
A reading of this budget clearly shows that funding to the Quebec forest industry is a joke. This is a glaring example of the Conservative government turning its back on Quebec.
The Bloc Québécois is attempting to rectify some of this with the amendment to the amendment put forward in the House today.
Let us talk about equalization. The amendment to the equalization formula, without consulting Quebec and the provinces, is an insult to all Quebeckers. This amendment will cut $1 billion from equalization payments to Quebec this year.
Need I remind hon. members that it is the Government of Quebec that provides health services and education, the cornerstones of a healthy economy? A shortfall of $1 billion this year will leave Quebeckers on the hook. The budgets of schools, hospitals and all front-line stakeholders will be cut. That is unacceptable for any Quebec MP.
Once again, just like when the Liberals were in power, the federal government is transferring its problems to Quebec. This clearly illustrates that the fiscal imbalance has not been resolved.
The National Assembly has unanimously voted against this “one-way federalism”. For that reason and as defenders of the interests of Quebec, and of Quebec alone, we will vote against this budget.
It is evident from this budget that recognition of the Quebec nation is but an empty shell devoid of any meaning for this government.
The budget indicates that they want to move forward with a single securities commission in Toronto. We find that unacceptable. To top it off, this government is even considering going to the Supreme Court to interfere in a matter that is strictly the jurisdiction of Quebec. And yet, the current system is working very well. It has been held up as an example by the OECD. The current way of doing things works well. The passport system, like the European system, allows for a co-ordinated approach in the application of legislation, a uniform and pan-Canadian protection of investors. Why dismantle what works?
Creating a single securities commission would result in a regulatory monopoly in Toronto. It would eliminate from the current system the advantages of regulatory competition. This system, which is working well, would work even better if Ontario decided to not go it alone and joined Quebec and the provinces that have already come to an agreement on this matter. The reason for Ontario's refusal to cooperate is quite simple. Like Ottawa, the province wishes to centralize all regulatory matters in Toronto. It is as simple as that. Calling for better protection is tantamount to stating the existing commissions are not doing their job. That is absolutely false.
The presence of the 13 regulators ensures that the creation and implementation of regulations will take into account the diverse opinions and ensure adequate representation of small markets. This structure has even allowed for innovation, both in Quebec and in western Canada.
The OECD has ranked Canada second when it comes to securities regulation. The World Bank also described as Canada a leader in the field. This recognition also reflects on Quebec, which, through the Autorité des marchés financiers, contributes to Canada's excellence. Why would the federal government want to change a system that works, that is held in high regard around the world, and that allows efficient and effective protection of financial operations in Quebec and Canada?
The Bloc Québécois will strongly oppose the creation of a single, centralized securities commission in Toronto, and it fully supports the Autorité des marchés financiers du Québec.
Several things become clear upon reading the budget. First of all, the Conservative government has decided to ignore Quebec's demands. Instead of helping Quebeckers, this government decided to divest them of significant resources to deal with this crisis, particularly by cutting off $1 billion in equalization payments to Quebec beginning this year, and by going ahead with its plans for a securities commission.
Compared to the $2.7 billion given only to the auto industry, which is centred in Ontario, the $170 million for the forestry industry seems paltry. Clearly, it is not enough. And what are we to say about the fact that this same government will not uphold the rights of women to settle pay equity issues in court?
For all these reasons, we will vote against this budget and we are proposing this subamendment, which reflects the unanimous demands of the Quebec people and the Quebec National Assembly.