Mr. Speaker, I thank my colleagues in the House.
I am pleased to have this opportunity to kick off debate on Bill C-60, the economic action plan 2013 act. As the name suggests, Bill C-60 would implement key measures from the recent federal budget, economic action plan 2013, which is a positive and forward-looking blueprint to help grow the Canadian economy today and into tomorrow. This plan would make our economy stronger by helping our manufacturers buy new equipment with tax relief, help small businesses create more jobs with a hiring credit, help rebuild our roads and bridges with record new support for infrastructure and much more.
Today's legislation, along with the standard second budget implementation bill, which will be introduced in the fall, will help implement that ambitious and positive plan.
Before I get into the substance of the bill, I would like to say that, as a proud member of the Standing Committee on Finance, I look forward to studying the bill in committee.
As the Minister of Finance said earlier this week, the study of the Economic Action Plan 2013 Act will not be exclusive to the Standing Committee on Finance.
In fact, the government members on the Standing Committee on Finance will move a motion that some other committees review specific aspects of the bill. I hope the opposition will give us its support.
In terms of the legislation we are dealing with today, we must not forget that the economic action plan 2013 is part of a comprehensive plan that goes back to 2006 when our Conservative government came to power. The priorities at the heart of the plan were the Canadian economy, job creation and tax cuts to help families keep more money in their pockets.
I am pleased to say that the plan worked even in the worst global recession since the Great Depression. As we conduct our study, the NDP and the Liberals will try to have us swallow bogus figures, if you will, on Canada's labour market. They will distort the facts and play every conceivable shell game to conceal the truth.
However, the facts are in. All of Canada's credible, independent organizations, such as the Bank of Canada and even Statistics Canada, have the figures and can substantiate them. Canada has created slightly more than 900,000 net new jobs since the depths of the recession in July. More than 90% are full-time jobs and nearly 80% are in the private sector.
This outstanding record has made Canada the top G7 country in terms of job creation since the end of the global recession.
Despite what the NDP and the Liberals would have Canadians believe, over 1.4 million net new jobs have been created since January 2006 when the Conservative government took power. We have also seen that as the best job creation in the entire G7 during that entire time period.
It is not only on the job front where Canada is leading the way. I want to share some of that positive news to counter all the talking down of Canada and of our economy that we are hearing from the NDP and the Liberals.
While the opposition will try to bash the Canadian economy with negative messages and their procedural games to scare people watching at home, I am going to try to build it up with positive facts about the relative success story Canada's economy has been.
To start with, both the independent International Monetary Fund and the Organisation for Economic Co-operation and Development are projecting that Canada will have among the strongest growth in the G7 in years ahead. Even better, here is what the IMF had to say about Canada only a few weeks ago, “Canada is in an enviable position”. For the fifth straight year, the World Economic Forum has ranked Canada's banking system the soundest in the world. Canada has the lowest overall tax rate on new business investment in the G7.
All major credit rating agencies, like Moody's, Fitch, and Standard and Poor's, have affirmed Canada's rock-solid AAA credit rating. Our net debt to GDP ratio remains the lowest in the G7 by far.
The list goes on and on. Little wonder, when asked about Canada's economy recently, Don Drummond, a well-known and widely respected Canadian economist, said the following:
We look like the poster child for the fiscal messes around the world. We are in pretty good fiscal shape, certainly relative to everybody else.
I could not agree more with him, but as Don Drummond noted, there are some fiscal and economic messes around the world, as we are reminded on the evening news or in the morning newspapers all too often.
Some big global economic challenges from beyond our borders remain, especially in the United States and Europe. These are among our most important trading partners. Even though these are not made in Canada problems, they will continue to negatively impact Canada. Like any smart person would in any situation like this, if a problem is out there, we protect ourselves against it. That is exactly what we are doing in economic action plan 2013 by staying squarely focused on what matters when facing a challenging global economy: jobs and economic growth, keeping taxes low and balancing the budget by 2015.
What we are not doing is listening to the NDP and Liberal calls for spending, spending and more spending in order to expand government and add to the national debt.
The NDP and Liberal proposals are doomed to failure and will mean ever-increasing taxes.
Canadians know what happened in European countries that chose to expand government and spend endlessly, which is what the NDP and Liberals are suggesting. Those countries ended up with monster deficits, paralyzing government bureaucracy and massive unemployment.
Just this week we learned that unemployment in the eurozone climbed to 12.1% in March, an all-time high according to EU statistics agencies.
The NDP likely does not want to hear that its economic philosophy of unlimited spending and ever-increasing taxes does not work. However, economic ruin in Greece and Spain illustrate the consequences of the very policies the NDP wants to bring to Canada.
Our Conservative government understands what the NDP and Liberals refuse to believe. In an uncertain global economic economy, the best way for government to build confidence is to maintain its own sound fiscal position, not engage in reckless deficit spending. That belief is at the very heart of economic action plan 2013 and that is why the Liberals and the NDP so vigorously oppose it.
I want to read a great quote by one of the most respected newspaper columnists in Canada, Peter Worthington. It is worth reading at length. He said:
The federal budget...is one of those things that should please every thinking Canadian...it's reality....Think for a moment....When you look at Cyprus, Europe, the U.S. and the rest of the world, this should be a huge relief to Canadian taxpayers...jobs are more or less secure as are pensions and health-care costs. Working Canadians will continue to be the blessed of the developed world.
Although I hear the NDP and Liberals making the heckling noises, it is because they do not buy into the fact that we are leaders. We cannot help the fact that we are leaders. The world looks at us with envy because we did not follow its suggestions and we will not follow its suggestions. Canadians can rest assured that this Conservative government will maintain a low-tax plan, we will maintain a plan for job creation and we will look to prosperity for our country for years and years to come.