Mr. Speaker, I thank my esteemed colleague from Skeena—Bulkley Valley for sharing his precious speaking time with me because I am sure he could have made good use of his 20 minutes to touch on other subjects. There is so much to say about our motion.
My colleague read the motion, so I will not reread it. However, I will begin my speech by saying that the Conservative government has been setting Canadians up for some hard times for quite a while now. I am not just saying that. That statement is based on well-established, well-documented facts. I can point to a source that I hope my Conservative colleagues will not dispute: the Bank of Canada's “Monetary Policy Report”, which was released a few days ago. This is the January 2015 report.
I am going to focus on issues that directly affect the middle class, specifically, labour market issues. In this report the Bank of Canada indicates that the labour market index has been held back by other developments, such as long-term unemployment, which is still close to its post-crisis peak. Not pre-crisis; post-crisis. The situation has clearly not improved.
In addition, the number of hours worked remains low, and the proportion of involuntary part-time workers continues to be elevated. The government needs to face this distressing fact. It has nothing to do with the present circumstances, which are related to plummeting oil prices. This situation is the direct result of the current Conservative government's policies. It cannot hide from that fact. The Governor of the Bank of Canada wrote it right there in black and white.
To that I will add another very troubling bit of information. I think it is probably the most troubling part of all and what makes our debate today so urgent and important. The participation rate is low relative to what would be suggested by purely demographic forces. The report indicates that the participation rate of prime-age workers, those aged 25-54, fell substantially in 2014, suggesting that at least some of the decrease in labour force attachment is unrelated to demographic forces. It is therefore not related to the normal changes we might expect in the labour market or to the changes in Canadian demographics. This is the result of the conditions created by the measures adopted by the Conservative government. The Conservative government is to blame for the current state of affairs, for putting us on the brink, perhaps not of a perfect storm, but of a very worrisome turbulent situation where Canadians, families and the middle class will pay a high price in various parts of the country.