Mr. Speaker, thank you for going through that prodigious task of reading out the amendments to this omnibus budget bill. The reason there are so many is that it is such a bad piece of legislation. It takes a lot to fix something that is so inherently flawed as this budget bill is.
Thank you, Mr. Speaker, for reading out some of the amendments the NDP has brought to this 150-page omnibus bill, which has 270 amendments contained within and a range that is breathtaking. Yet is not surprising with these Conservatives, who have grown somewhat addicted to the idea that all legislation of merit should pass unscrutinized through the House of Commons and should be done under the guillotine of time allocation and the closure of debate. That is a process the Conservatives like to use now, having been in government and having grown in their arrogance and entitlement. It is a process they used to hate when in opposition, and now they have used it almost 100 times, I believe, to shut down debate on almost every piece of legislation that has been in the House.
This bill was also rushed through, yet it touches on some important things. It is worth taking a step back to look at the context in which this budget falls.
We have seen the Canadian economy for the last 16 months experience its slowest growth, outside of a recession, in more than 40 years. Think about that for a moment. The Conservatives have been in power for nine years now, trotting out their old Reaganomics trickle-down theories, and we have seen the results: losses of hundreds of thousands of manufacturing jobs, 1.3 million Canadians out of work, and almost a quarter-million more Canadians out of work than when the Prime Minister took office.
Having experimented with their failed policies, we now have a moment in which we see the results. For 16 months, the growth rate in Canada has been far below that of population growth in Canada. It is the worst record, outside of a recession, any government has seen in more than a generation. These guys are out patting themselves on the back, spending $750 million on self-promoting ads to tell Canadians how terrific it is, but Canadians know the reality. Canadians who have experienced job losses, Canadians who have experienced the lower quality of jobs, which according to CIBC are the lowest-quality of jobs in Canada in a generation, know the reality. No quarter-billion dollar ad campaign is going to cover up for that.
We have also seen job losses across sectors, not just the more than 400,000 manufacturing jobs in Ontario and Quebec and value-added jobs right across the country, but retail and energy jobs. Just today, Blacks Canada is shutting its stores, following Sony, following Target, following job losses in the energy sector and beyond.
The Conservatives have also refused to act on some things that just seem like no-brainers. New Democrats found a big loophole in the tax system. It is for the folks in the corner offices on Bay Street. It is a CEO-designed loophole for someone who is paid in stock dividends.
Conservatives claim to protect the middle class. I do not know a lot of middle-class Canadians who are paid in stock dividends, but the middle-class Canadians the Conservatives are focused on are given a $750-million tax break every year. That is $750 million for those who get paid in stock dividends, because they get taxed at a much lower rate than we mere humans. The folks up in the office towers and penthouse suites get a three-quarter of a billion dollar tax break from the Conservatives each and every year. New Democrats sought to close that tax loophole and transfer the money over to low-income Canadians, and the Conservatives said no.
The government promised to create more than 100,000 child care spaces. We remember that promise. It was similar to the promise the Prime Minister made that he would not appoint anyone to the Senate. Do members remember that? Do members remember the Prime Minister getting up and saying that he would not appoint anyone to that unaccountable, unelected chamber? That is what he called it. Lo and behold, the seeds we sow bear fruit. We see it today with a bunch of senators finally getting caught with their hands in the cookie jar. They are getting Canadian taxpayers to pay for golf trips, hockey games, for fishing, and for getting a staffer to drive a car back to the east coast. Is it not nice to be a senator?
There is also paying for a second home, because Lord knows, a senator making $140,000 a year and working sometimes three days a week for several hours a day must be exhausted. It must be hard on one's constitution.
All those bagmen, failed Conservative candidates, and failed Liberals that slopped their way over to the Senate finally got caught doing what we know they have been doing for years. Thank God for them the audit only went back so far. We know that if a corrupt institution is built, it will act like a corrupt institution. That is what the Senate is.
If we look back to the original speeches of this country, it was John A. Macdonald, when he was arguing for the creation of the Senate, who said that they needed to create the Senate to protect minorities from the rabble, from the majority here in the House of Commons. What minority was he speaking of? It was the wealthy. His argument was that they needed to protect wealthy Canadians from the rabble, from the rest, from the majority, and thereby needed to create the unelected Senate.
The Prime Minister promised reform, and he only gave us something somehow worse. The New Democrats have been making arguments for generations now to abolish the Senate. Who knew that senators would make an even better case for their own abolition? There they are doing it day in and day out.
What else is in this bill, another massive omnibus bill? The Conservatives do not even talk about them anymore, because they have been such policy failures, but two things they have trotted out include a $2.2 billion income-splitting scheme that would help out only 15% of Canadian families and would skew toward wealthier Canadian families. It would not help create any child care spaces, breaking yet another Conservative promise made by the current Prime Minister. It would not help out low- and middle-income Canadians or working Canadians at all. What it would do is allow wealthier Canadians to split income and so forth and gain back more tax money. That may help out the friends around the Prime Minister's dining table, but it would not help out Canadians around their dining room tables.
The Conservatives then doubled down and said they would double the TFSA, the tax-free savings account, which at its current $5,500 cap is only being maxed out by about 11% of Canadians. We asked them for evidence of how it would help Canadians, even if TFSAs to this point have helped Canadians save. They have not at all. What Canadians are doing is transferring money from one retirement vehicle to another. That is fine and fair enough, but now they are doubling it. What effect will that have?
We learned that the top 20% of earners, the top 20% of Canadians, the wealthiest Canadians, will in fact get 180% more benefit than all the rest of us combined. Is that not nice? If people are well off, earning $200,000 or $300,000 a year, Conservatives have their interests at heart. They are willing to spend billions of dollars to do it. In fact, doubling of the TFSA would, over time, cost $30 billion to $40 billion a year to the treasury. When the Minister of Finance was asked about this, he said that was not for us to worry about; it was for the Prime Minister's imagined granddaughter to worry about. Is that not nice?
That is not the Conservative thinking I know. The conservative people I know in the northwest of British Columbia are conservative in their thinking. They like to pass things on to their kids and grandkids in better shape than they found them. They do not like to leave a big bill behind, as the Conservatives are doing with climate change. The Conservatives are saying that someone else will have to deal with that.
They say that they are going to push forward things to try to buy the next vote, because they are down in the polls and they need help in the election. So what if this thing gets massive over time and costs future generations the ability to pay for health care, roads, sewers, and bridges, which we desperately need.
There is a $172-billion infrastructure deficit in this country right now. What did the Conservatives trot out to the Federation of Canadian Municipalities last week? It was back-loaded programs: transit later, infrastructure funding later. Right now, the Conservatives need to try to buy their way back into office because of all the scandals and the corruption that has gone on under their watch.
We also see that just in the last few years, Conservatives have cut $14 billion from program spending. This is funding that was going to vets, to food safety, to rail safety, and to employment insurance, another fund they raided. We remember how the Conservatives used to chastise my Liberal friends down the way for raiding the employment insurance fund to the tune of $54 billion. The Conservatives must have been paying too much attention.
Finally, there is a little retroactive piece in here. The Conservatives are going back in time and re-interpreting and reimagining the will of Parliament with respect to the elimination of the long gun registry. This is fascinating. The Privacy Commissioner came forward and said that it was perilous. She noted that if the same thing had been imagined by the Liberals while they were in power, we would have never found out what happened in the sponsorship scandal, because what they would have been able to do was retroactively go back and reimagine what Parliament was thinking that day and make what was illegal suddenly legal. They buried this in this bill.