Debates of Dec. 2nd, 2016

The House proceeded to the consideration of Bill C-29, A second Act to implement certain provisions of the budget tabled in Parliament on March 22, 2016 and other measures, as reported (with amendment) from the committee.

Speaker's Ruling

[The Assistant Deputy Speaker, Liberal, Anthony Rota]

There are 24 motions in amendment standing on the Notice Paper for the report stage of Bill C-29.

Motion No. 4 will not be selected by the Chair as it could have been presented in committee

All remaining motions have been examined and the Chair is satisfied that they meet the guidelines expressed in notes to Standing Order 76.1(5) regarding the selection of motions in amendment at report stage.

Motions Nos. 1 to 3 and 5 to 24 will be grouped for debate and voted upon according to the voting pattern available at the table.

I will now put Motions Nos. 1 to 3 and 5 to 24 to the House.

Motions in Amendment

[Kevin Lamoureux, Liberal, Parliamentary Secretary to the Leader of the Government in the House of Commons]

moved:

Motion No. 1

That Bill C-29 be amended by deleting Clause 1.

[Gérard Deltell, Conservative, Louis-Saint-Laurent, QC]

moved Motions Nos. 2 and 3.

Motion No. 2

That Bill C-29 be amended by deleting Clause 29.

Motion No. 3

That Bill C-29 be amended by deleting Clause 44.

[Gabriel Ste-Marie, Bloc, Joliette, QC]

moved Motions Nos. 5 to 23.

Motion No. 5

That Bill C-29 be amended by deleting Clause 117.

Motion No. 6

That Bill C-29 be amended by deleting Clause 118.

Motion No. 7

That Bill C-29 be amended by deleting Clause 119.

Motion No. 8

That Bill C-29 be amended by deleting Clause 120.

Motion No. 9

That Bill C-29 be amended by deleting Clause 121.

Motion No. 10

That Bill C-29 be amended by deleting Clause 122.

Motion No. 11

That Bill C-29 be amended by deleting Clause 123.

Motion No. 12

That Bill C-29 be amended by deleting Clause 124.

Motion No. 13

That Bill C-29 be amended by deleting Clause 125.

Motion No. 14

That Bill C-29 be amended by deleting Clause 126.

Motion No. 15

That Bill C-29 be amended by deleting Clause 127.

Motion No. 16

That Bill C-29 be amended by deleting Clause 128.

Motion No. 17

That Bill C-29 be amended by deleting Clause 129.

Motion No. 18

That Bill C-29 be amended by deleting Clause 130.

Motion No. 19

That Bill C-29 be amended by deleting Clause 131.

Motion No. 20

That Bill C-29 be amended by deleting Clause 132.

Motion No. 21

That Bill C-29 be amended by deleting Clause 133.

Motion No. 22

That Bill C-29 be amended by deleting Clause 134.

Motion No. 23

That Bill C-29 be amended by deleting Clause 135.

[The Assistant Deputy Speaker, Liberal, Anthony Rota]

The member for Saanich—Gulf Islands is not in the chamber this morning, and I will not be able to move Motion No. 24.

The hon. government House leader.

[Kevin Lamoureux, Liberal, Parliamentary Secretary to the Leader of the Government in the House of Commons]

Mr. Speaker, what a privilege it is once again to stand and talk about a bill that is going to be implementing our national budget. It is a budget that I believe is unprecedented in so many ways. If I were to think about a single message that comes out of this budget, it is the issue of Canada's middle class and those aspiring to become part of our middle class. We would have to go back many years or decades to see a budget that has done so much in terms of what I suggest is a redistribution of Canada's wealth, but with a special focus on our middle class.

Over the last decade, we have seen a great deal of concern in regard to how well Canada's middle class has been doing. Not only here in government but even when we were the third party, there was a constant theme being raised, and that was a caring attitude toward our middle class and those aspiring to be part of Canada's middle class.

We have a Prime Minister and a Minister of Finance who have put our middle class as priority one.

There is so much in this budget we can get behind and support. We often hear from opposition benches about the importance of Canada's middle class. For the first time, in a tangible way, they have the opportunity to vote for a budget that does a great deal for Canada's middle class. Let me explain why I believe that to be the case.

Shortly after the election, we had a substantial increase in taxes for Canada's wealthiest, the 1%, if I can put it way. Most significantly, we had a substantial decrease in taxes for Canada's middle class. What does that mean? Someone who is a factory worker or a health care worker, a person in the middle class, is seeing a substantial decrease in taxes, which means that we are putting more money in the pockets of Canada's middle class.

Many of my colleagues who have had the opportunity to talk about this budget have said that we even go beyond the middle class, and that is true. There are a number of initiatives within the budget that address other issues. I would like to focus on a couple.

One deals with Canada's children. We have the Canada child benefit program, a program that has been enhanced by seeing more money going toward children. The biggest benefactors are going to be those children who are in the lower-income strata. For example, we will see thousands of children being lifted out of poverty as a direct result of the budget. We will see taxable income considerations given as part of the Canada child benefit program.

Someone who is a multi-millionaire does not need the tax credit as much as a single parent who has two or three children and is finding it difficult to make ends meet. I think Canadians would see that as a fair taxation policy. It is a great program, and as I said, it will lift literally tens of thousands of children out of poverty.

Another issue that is often talked about among my colleagues is the guaranteed income supplement. We know first hand, because shortly after the election, we engaged in a discussion on the types of things we heard at the door from our senior population, those who were finding it very difficult to make ends meet. We have seniors who are put in a position of having to decide on food versus medication. Far too often, they put their health in jeopardy as a direct result of not having enough money. The substantial increase to the GIS will make a difference, particularly for single seniors, who will receive, in the worst conditions, in excess of $900 more per year. If they are making $10,000 or $12,000 a year, that $900 is going to make a significant difference. I talked about lifting children out of poverty. This would lift seniors out of poverty.

I have brought up those three major points: tax cuts for the middle class; the helping hand; and addressing the issue of poverty, whether for seniors or children. This is one of the reasons I believe that what we have before us is a progressive budget that would move Canada in a forward direction. The redistribution of wealth would also help Canada's economy. We believe that if we have a strengthened middle class and more money in the hands of those individuals who are spending the money and cultivating the economy, we are, in fact, giving more strength to Canada's economy. That is indeed warranted.

There is so much in the budget one could talk about. We can talk about the importance of health care. I can make reference to the commitment not only in terms of dollars but in terms of a Minister of Health who is working diligently with our provinces and territories to try to get a new health care accord. We might have to be patient. It is more important that we get it right, but for the first time, we have a government that is attempting to get a new health care accord.

We can talk about the environment. We have a progressive government that is dealing with environmental issues. One can cite the Paris agreement to a price on carbon as being positive. Only the Conservative Party seems to be offside of all the political entities across the country on that front, and I must say, on a number of other fronts.

We can talk about infrastructure and the record amount of money being put into Canada's infrastructure, unlike the Conservatives, who would talk about putting money into it, but it never really materialized. We have a government that already, within 12 months of being in office, has hundreds of projects up and running, in co-operation with the different stakeholders, in particular our provinces and municipalities, which have done a phenomenal job getting those projects up and running. We have a government that is committed to Canada's infrastructure in every region of our country. This is something that I believe is being well received.

The bottom line is that it is a good-news budget. If members support tax decreases for our industrial workers and professionals, whether health care workers, firefighters, or any profession out there getting those tax breaks, this is a budget they should seriously look at voting in favour of. This bill we are talking about would implement that budget.

If they are concerned about issues such as poverty, this is a budget they should be voting for.

The only real and consistent criticism from the Conservative Party with respect to this budget is related to the issue of money, or the deficit. I am anticipating that will likely be one of the questions asked. I will let the opposition know that, as a party—

My time has run out. Hopefully I will be able to provide that answer shortly.

[Gérard Deltell, Conservative, Louis-Saint-Laurent, QC]

Mr. Speaker, my question will not be about the deficit but about the frankness of politicians.

Each one of us was elected on a platform. People have the right to decide if we are on the right side or the wrong side. Yes, we are democratic and respect democracy, but we also respect that we must be very frank with people.

The Liberals were elected under a platform in which they said there would be a small deficit of $10 billion, but they tabled a budget with a $30-billion deficit.

Why did they not tell Canadians the truth?

[Kevin Lamoureux, Liberal, Winnipeg North, MB]

Mr. Speaker, I anticipated that I would be asked a question of that nature, and that is why, in my concluding remarks, I was getting to the issue of budget deficits.

To assure Canadians very clearly, if we look at it from a historical perspective, Liberal administrations have cleaned up Conservative administrations with regard to budgets. The preoccupation that the Conservatives have on this is unjustified. If we look back, the Conservatives accumulated a debt of over $150 billion, a record amount, under Stephen Harper.

Yes, there is a budget deficit. We told Canadians that there would in fact be a budget deficit. We believe it is time to start investing in infrastructure and Canadians. At some point, as Liberals have done in the past, there will be a return to a balanced budget. Now is the time that we should be investing in Canada's infrastructure and Canadians, and that is what this budget is doing.

[Guy Caron, NDP, Rimouski-Neigette—Témiscouata—Les Basques, QC]

Mr. Speaker, there are so many things I could say. I will focus on Bill C-29 because we will be studying it at third reading.

I would sincerely like to know why the member was the first to speak this morning. Is it because the Liberal Party, the government, decided to move deletion of clause 1, the bill's short title, which is “Budget Implementation Act, 2016, No. 2”?

I would like to know why the government wants to delete the short title. Is there a valid reason why it wants to delete its own proposed title? Was this just a political ploy to usurp the opposition's traditional right to be the first to speak to these bills and amendments?

[Kevin Lamoureux, Liberal, Winnipeg North, MB]

Mr. Speaker, I can assure that when we look at the amendment that has been proposed, for the most part it is about ensuring that debate occurs at the report stage. We are already into that debate. I would encourage other members to participate. At the end of the day, this is a responsible approach. There are always tactics on both sides of the House. I can assure the member that it is not coming just from one direction. This is, in good part, a response to opposition and the concerns that might arise.

The bottom line is that we have a day to debate Bill C-29, the budget and government priorities. I would encourage other members to speak. We have had plenty of time already to speak on Bill C-29, whether it was at second reading or the committee stage. There has probably been more time for debate on this budget implementation bill than many of the Harper Conservative budget implementation bills. It is a pleasure for me to put a few words on the record.

[Gérard Deltell, Conservative, Louis-Saint-Laurent, QC]

Mr. Speaker, I am pleased to speak at this stage of Bill C-29, which seeks to implement key measures from the budget that was tabled, voted on, and passed in the House a few months ago.

First of all, I want to set the record straight for Canadians. I want to tell it like it is and give a clear picture of the situation, ever since Canadians voted for a change in government.

Canada was in an enviable fiscal position. The Conservative administration left a surplus of $2.9 billion. Canada had the best debt-to-GDP ratio among the G7 nations. Canada was the best of the best. Canada also had the best job creation record of all the G7 nations. Canada was the country that fared best. It was also the country that recovered the quickest from the terrible financial crisis that was felt all over the globe in 2008 and 2009. That is the Conservative record. The Conservatives definitely left the house in order, so to speak. Unfortunately, the Liberals are currently destroying our economy. In fact, that is why we strongly oppose Bill C-29, which seeks to implement the measures in the budget. We think it is a very bad budget. Why?

For decades, Canadians made every effort that was required, including under the leadership of the Right Hon. Paul Martin, a distinguished and world-renowned finance minister. He fought mercilessly against the deficit. Now the current government is sending Canada down another unfortunate deficit spiral. The thing is, we are not in an economic crisis, as was the case when the Conservatives were in power and we had to deal with this difficult situation.

What does this mean? It means that we are asking our children, our grandchildren, and our great-grandchildren to foot the bill for this deficit. They are the ones who will have to pay for the current government's mismanagement. Worse yet, the party in power got elected barely a year and a half ago by saying that they would run a small deficit of $10 billion, but we would return to a balanced budget during the fourth year of their term.

Nothing could be further from the truth today. The deficit is currently $30 billion. From the economic update we know that the Liberals will continue to spiral badly by inflicting another $32 billion in spending over the next five years. The sad reality that is slapping us in the face is that the government is unable to tell us when we will return to a balanced budget.

There is not one business owner, father, mother, or head of household who manages their budget without the expectation that one day they will keep their head above water. That is exactly the situation that the government is forcing us into. We are drowning in debt, but we have no idea when we are going to come up for air. This is unprecedented and unheard of. It is unacceptable. It is the Liberal way.

If only the Liberals would at least acknowledge that they said some foolish things during the election campaign, like running small deficits, which is not at all true because the deficit is three times the amount forecast. If only they would tell us, for example, not to worry at all because they are going to balance the budget in five years. That would be very wrong, but we would at least have an idea of the situation. However, that is not the case. This short-sighted government has absolutely no idea when it will balance the budget or how it will manage to eliminate the deficit.

I can assure Canadians that the next balanced budget will be a budget tabled by the Conservative government, which will be elected by Canadians in three years. That is a fact.

I would also like to remind members that the Liberals bragged about how, in the budget, there would finally be tax cuts for Canadians and how all Canadians would benefit from them. Well, aren't they generous. The reality is quite the opposite. The measures proposed by the government will have no impact on the taxes that 65% of Canadians have to pay. There will be no tax cuts for 65% of Canadians. Who then will benefit from the announced tax cuts? It is Canadians who earn between $140,000 and $200,000 a year. Is a person who earns $199,999 a year part of the middle class? I have my doubts.

I would like to point out right away that I am in a position of conflict of interest. As an MP, I earn around $170,000 a year, so I am one of the lucky ones who will benefit from these measures. With a salary like that, I do not feel as though I am part of the middle class. The government has been boasting that it is helping the middle class, the least fortunate, and the most vulnerable. Stop right there. In reality, 65% of Canadians will not benefit at all from these measures. Those who will benefit the most are wealthier Canadians who earn between $144,000 and $200,000 a year.

What is more, this budget hinders the creation of jobs and wealth because it does not do much to help our small and medium-sized businesses. For us, the Conservatives, small businesses are the backbone of our economy. They create jobs and wealth. We need to do everything we can to help them, not hold them back. Nevertheless, that is what this government is doing with the budget. It is imposing the Liberal carbon tax. It is imposing new fees on employers and employees under the Canada pension plan. It is failing to keep its promise by not lowering the tax rate of SMEs. The government was supposed to lower the tax rate from 10.5% to 9% but failed to do so. These are three measures that work against our business owners, our job creators and our creators of wealth. That is why we are completely against this bill.

I would also like to draw members' attention to a small but very important detail. As the saying goes, the devil is in the details, and in this case we are talking about consumer protection.

First of all, I would like to recognize the excellent job that was done by the member for Joliette, who really did the kind of work one would expect from an opposition member. He did a great job, and I would like to commend him for that.

What happened? This has to do with the enforcement of the legislation on banks and the management of financial institutions.

Let us recall the events: in 2012, the Conservative government passed legislation to implement, across the entire country, certain measures concerning the management of financial and banking institutions. Part of that law was challenged in court. In 2014, the Supreme Court ruled specifically on the issue of the Consumer Protection Act in Quebec. The act was not constitutional, so it had to be changed.

Since we are institutional people and we respect our institutions, we are going to comply with the Supreme Court’s decision. However, in this new bill the government is proposing measures that, unfortunately, do not meet the requirements of the Supreme Court ruling. Along with the members for Joliette, Rimouski-Neigette—Témiscouata—Les Basques and others, we questioned senior officials in parliamentary committee in order to get specific answers to very specific questions, so that we could find out whether they were complying with the Supreme Court’s ruling or not.

Unfortunately, I cannot say that we were convinced. There are still flaws in the legislative measures proposed in Bill C-29 on the issue of Quebec’s Consumer Protection Act. We are not the only ones with concerns. The National Assembly has passed a motion asking the government to suspend the clauses of Bill C-29 that affect the Consumer Protection Act.

If we want to make a law that complies with the Supreme Court ruling, we have to talk to the lead stakeholders, because it is abundantly clear that if the bill is passed, it is going to be challenged in court on this issue, among others. It is not just us who are saying so, it is the National Assembly.

What is the Quebec National Assembly? Certainly it is the members of the opposition, but it is also the government. The day before yesterday, the Quebec justice minister, who is a member on the other side of the river, not so far from here, said that she was concerned about certain clauses in Bill C-29.

There is still time for the government to seize the opportunity and just do what ought to be done. It should pick up the phone, call the justice minister, and ask her what is not working and what should be drafted to make it work. That is what a government in touch with the reality of its citizens would do, much like us. I recall that we had an interpretation of the matter in 2012. The Supreme Court contradicted that interpretation; we are institutional people and we respect the Supreme Court. We therefore must make every effort to ensure that this is not challenged and it is done the right way.

I do not mean to insult any legal eagles in any way, but we must realize that it is not a humble country lawyer who will be challenging this. It is the Government of Quebec that will be going to court to challenge the provisions affecting the Consumer Protection Act.

On this point, I urge the government to go back and do its homework, and indeed I invite the government to look at the entire bill and really do its homework for the economy as a whole and for all Canadians.

[Steven MacKinnon, Liberal, Gatineau, QC]

Mr. Speaker, I thank my hon. colleague from the Standing Committee on Finance for his excellent speech. He speaks of the legacy of the Conservative government. Indeed, the Conservative legacy is one of anemic growth; they ran deficits for nine consecutive years after inheriting a healthy financial situation from Mr. Martin and Mr. Goodale, an infrastructure deficit, a social deficit, a social housing deficit, and others still.

Now we are considering ways for the Canadian economy to recover. During the federal campaign, his party and the New Democratic party said that the budget had to be balanced at any cost. His party left a legacy of anemic growth and it was going to balance the budget at any cost.

Today, I would like the member to tell us what his plan is to get us over the slump and address dropping oil prices, the infrastructure deficit and the social deficit. What is his plan? He is very good at criticizing, but what is his plan to improve and rehabilitate the Canadian economy?

[The Assistant Deputy Speaker, Liberal, Anthony Rota]

Before giving the floor to the hon. member for Louis-Saint-Laurent, I would like to remind the members in the House today not to name still-sitting members of the House. The hon. member named two persons, one of whom is a sitting member. This reminder is meant for everyone present. I know that it is Friday and we are eager to return to our constituencies.

The hon. member for Louis-Saint-Laurent has the floor.

[Gérard Deltell, Conservative, Louis-Saint-Laurent, QC]

Mr. Speaker, I am happy to answer my colleague’s question.

Indeed, it is true that, in the opposition, we have to criticize, but we were in power, and we campaigned on a platform which, from our point of view, would have a stimulating effect on the Canadian economy. Our approach was realistic. Our government made Canada number one in terms of economic performance in the face of the worst financial crisis, in 2008-09. The OECD and the G7 both say so. That is why we left Canada's fiscal house in order, with a surplus of $2.9 billion. That is positive.

We also made Canada the first job creator in the entire G7. Canada has the best debt-to-GDP ratio in the entire G7. Why did we have to begrudgingly run deficits? Because we were facing the worst economic crisis. It is in challenging and difficult times that the truly great shine, and that is what we did. We are very proud of that.

The worst thing to do is to impose taxes and additional costs on our businesses—something we did not do and that we will never do.

[Guy Caron, NDP, Rimouski-Neigette—Témiscouata—Les Basques, QC]

Mr. Speaker, I thank you for giving me the opportunity to ask my colleague a question.

I have just heard the question that was asked by our colleague from Gatineau, who sits on the Standing Committee on Finance. He was talking about deficits, which made up a large part of the speech by my colleague from Louis-Saint-Laurent.

However, if I remember correctly, during the election campaign the Liberals promised to run small deficits so that they could invest in infrastructure. Now what we are seeing is that the deficits are bigger, but everyone recognizes that, for now, not much has been put into infrastructure. In the end, the government is going to have to face reality and invest in infrastructure. It is not by calling on the private sector with a big infrastructure bank that they are going to manage to keep the promises that were made.

I would therefore like to hear my colleague’s comments on this situation that I would call extremely paradoxical.

[Gérard Deltell, Conservative, Louis-Saint-Laurent, QC]

Mr. Speaker, that is quite true, and I recall that the NDP had the courage, the honour and the dignity to run on a no-deficit platform—a very bold move. I salute his keen foresight on the matter.

Mr. Speaker, did you hear any talk of the infrastructure investment bank during the campaign? No. It was totally absent from the Liberal platform, and now it is a major part of the government’s economic game plan. What will it do? It will receive $15 billion slated for investment in order to attract foreign investment. Why?

Nothing currently prevents foreign investment from coming into Canada: quite the contrary. Nothing prevents private partners from working hand-in-hand on infrastructure projects with the Canadian government. We call that PPP Canada. It exists, it is going on, and it is working. The Windsor-Detroit bridge that we are currently building between our two great countries, our two great nations, is a public-private partnership. We are able to work that way.

Why did the government dream up this new infrastructure bank if not to please its many pals once again?

[Gabriel Ste-Marie, Bloc, Joliette, QC]

Mr. Speaker, our amendments to Bill C-29 all have the same objective, which is to uphold the rights of Quebec and the rights of Quebeckers. For those who may not know this, we often do great things in Quebec. For instance, Quebec has the best consumer protection laws anywhere in the Americas.

It is precisely these kinds of Quebec differences that Bill C-29 threatens. The banks have always found that Quebec's Consumer Protection Act favours ordinary people too much. The banks have always relied on their ally in Ottawa to try to get around it. This is simply a new chapter in the showdown.

Bill C-29 is a legislative and constitutional power grab. It is a Christmas gift from the federal government to the banks, on the backs of Quebeckers. We cannot let this happen.

In this mammoth bill, the current Liberal government buried an amendment to the Bank Act that includes a mysterious new financial consumer protection framework. The effect of this new clause is clear: Ottawa wants the banks to be above the law in Quebec. Government officials confirmed this before a parliamentary committee.

We have to go back to the early 2000s to understand what is happening now. An unpleasant surprise awaited Quebec consumers returning from vacation: their banks had started charging fees without telling them. This despite the fact that the Consumer Protection Act prevents banks from claiming costs “unless the amount thereof is precisely indicated in the contract”. Ripped-off consumers who tried in vain to get their banks to reimburse them turned to the banking ombudsman, who did nothing.

The consumers then availed themselves of the recourse provided in the Consumer Protection Act and filed a class action lawsuit in 2003. Their case made it to the Supreme Court, culminating in the Marcotte decision in 2014 after 11 years of litigation. The banks were forced to pay back $32 million to the people they tried to swindle.

I would like to comment on the Marcotte case because it led to Bill C-29. The ruling made it clear that, while the Bank Act governs the banks' operations, it does not govern their consumer relations. That was a Supreme Court ruling. The federal law and Quebec's law can therefore both apply because Ottawa's law governs the banks' operations and Quebec's law governs consumer rights, and that is where Bill C-29 comes in.

Now that the federal legislation will contain a tiny section called the “Financial Consumer Protection Framework”, the banks will be able to claim that the Canada Bank Act also covers consumer protection. They will therefore be able to argue before the courts that they basically need not comply with Quebec law. At present, consumers can turn to the Quebec Office de la protection du consommateur to assert their rights, which has a simple and effective process. It is free, which ensures that even the most vulnerable can access it.

If that is not enough, consumers can initiate class proceedings and ask a judge for a ruling. This bill would eliminate all that. From now on, consumers would only be able to approach the banks' ombudsman, an officially neutral employee, but one appointed and paid by the banks. What is worse, the ombudsman cannot make recommendations and cannot impose a penalty or fine.

That is how the Liberals are going to eliminate all the legal protections enjoyed by Quebec consumers with respect to hidden fees, unilateral changes to fees or services by the banks, the requirement to provide a contract in French, the ban on misleading advertising, and the possibility of cancelling an unfair contract. This will only benefit the banks.

Our rights are being pushed aside on a promise that Bay Street will be nice to us. That says it all. Justice is being replaced by an ombudsman appointed by the banks, someone whose authority is limited to handing down a slap on the wrist. This is very serious. It is an attack on Quebec and Quebeckers. In English Canada, there is minimal consumer protection when it comes to the banks. Outside Quebec, Bill C-29 will have little impact. Back home, this will be terrible.

I want to address the 40 Liberal members from Quebec. Instead of reading a French translation of a press release that was written in Toronto, they should be defending their people and telling their colleagues how good our system is for regular people. They should be educating their colleagues instead of acting like doormats.

Yesterday, during question period, I was quite troubled to hear the response of the Parliamentary Secretary to the Minister of Finance. He said that the Marcotte decision called on the government for a response and that Bill C-29 is that response. It is incredible.

In Marcotte, the court was not calling on the federal government. It was addressing the banks. When the Minister of Finance confuses the banks and the federal government, that is saying something. To him, it is six of one and half a dozen of the other. Personally, I am siding with regular folks and not the minister's friends who work on Bay Street.

That is not all. Not only is the government siding with the banks and against Quebec's consumers, but it is creating a loophole that every profiteer is eager to exploit. Today, it is the banks that the federal government is putting above the law. What will be next? Are wireless service providers going to ask for Ottawa's help to double how much they charge, without warning? Are internet service providers going to ask the same? Are we no longer going to be able to go after airlines to get our flight reimbursed if it is cancelled? Is that it?

Our amendment resolves all of these problems. It ensures compliance with the Consumer Protection Act, the best in the Americas. In contrast, Bill C-29 opens the door to abuse. It opens the door to court challenges. For 10 years, Quebeckers will not know what law protects them. For 10 years, Quebeckers will be better off abandoning their banks in favour of caisses populaires and the legal certainty under which they operate. At the risk of overstating the case, the federal government is even harming banks.

I urge my colleagues to support the amendments I proposed. If I understand correctly, the NDP and the Conservatives already support them. Our job is to represent Canadians, not powerful lobbies.

[Steven MacKinnon, Liberal, Gatineau, QC]

Mr. Speaker, I thank my colleague for his speech.

Like him, I served on the Standing Committee on Finance when the proposed amendments to the Bank Act were being examined. I think my colleague is laying it on a bit thick. There is nothing here that will take away protections for Quebec consumers in any area.

This bill is a response to the Supreme Court ruling requiring the Government of Canada to draft legislation and amend the Bank Act in order to provide a framework for a well-designed, well-thought-out process that fully meets the public's and consumers' needs with regard to our national financial institutions.

What does he suggest that the Government of Canada do? The government was instructed to do this work by the Supreme Court of Canada. As my colleague from Louis-Saint-Laurent said, we are already an institution here, and we need to fulfill those requirements. What does he suggest that the government do to respond to the Marcotte ruling?

[Gabriel Ste-Marie, Bloc, Joliette, QC]

Mr. Speaker, I strongly disagree with my colleague from Gatineau, who said that consumers will not lose out.

Bill C-29 and clause 131 set out a federal consumer protection regime for bank customers that will take precedence over Quebec's Consumer Protection Act, which is much stronger and goes much farther. That act will no longer apply.

Ultimately, Bill C-29 will exempt banks from Quebec's 112-page Consumer Protection Act and 400 pages of regulations, all of which are rock-solid parts of the civil code that has been in place for 400 years. Even the federal government is subject to it in Quebec. This bill exempts banks from that legislation in exchange for 16 paragraphs written in the conditional tense, all of which are toothless and offer no protection whatsoever to consumers. This is a major step backward. To suggest otherwise is a monumental mistake.

The government needs to reconsider Bill C-29 and accept our amendments to ensure that the Consumer Protection Act will apply in its entirety to Quebec's banking sector.

[Alain Rayes, Conservative, Richmond—Arthabaska, QC]

Mr. Speaker, I would like to ask my colleague a question, but I will begin by congratulating him on the work he has done.

My question is about our Liberal colleague's last comment. That National Assembly unanimously asked the federal government to change its mind on this issue.

When my colleague says that people are blowing things out of proportion, I feel as though he is telling members of the National Assembly that they lack judgment and cannot see what is good for the people of the province of Quebec.

What does my colleague think of the Liberal member's comment?

[The Assistant Deputy Speaker, Liberal, Anthony Rota]

Before I recognize the member for Joliette, I wish to remind hon. members that they are allowed to cross the aisle to speak to one another. There is no need to speak across the aisle, which makes it hard for the Chair to hear what the hon. member is saying.

The hon. member for Joliette.

[Gabriel Ste-Marie, Bloc, Joliette, QC]

Mr. Speaker, I thank my colleague from Richmond—Arthabaska for his comment and his question.

When my other colleague wonders if it was not a bit rich, well, that is huge. That is why the motion passed unanimously in the Quebec National Assembly. It was supported by all parties, by the Premier of Quebec, and by the Minister of Justice.

Last time, this matter wound up before the Supreme Court, which ruled that Quebec had the right to keep its Consumer Protection Act. The Bank Act is a federal act, but the Consumer Protection Act must remain in Quebec.

This is a mammoth bill with over 200 clauses. The Liberals tried to pull a fast one on the people of Quebec. All parties of the Quebec National Assembly, along with all opposition parties here, are coming together to pressure the federal government to not go there. It needs to stop standing up for the banks rather than consumers and start thinking of the people, defending the people and consumers against the banks, which are going too far.

[Guy Caron, NDP, Rimouski-Neigette—Témiscouata—Les Basques, QC]

Mr. Speaker, so many questions and so few answers. I cannot say that I have many answers in the comments I will be making in the next few minutes, but I find it extremely disappointing that the government is so far from being able to meet the expectations that it created and made Canadians believe in, based on its claims during the election campaign.

We are currently looking at Bill C-29, which seeks to implement some of the budget's recommendations. The government is touting it as the bill that will implement the measures proposed to help the middle class, which has never been defined.

From what I can see in the various statistics on income, when we talk about the middle-class tax cuts, this means raising taxes on about 1% of taxpayers and redistributing that money to 9% of the population, while completely disregarding 89% of the people. The same goes for the Canada child benefit. The government says it is a program that will benefit everyone and so many more people than before. However, it is not being indexed for four years, which means that it will amount to roughly the same as we had before. That is a problem.

What was not said during the election campaign is also problematic. I am going to go back to the issue of infrastructure because it is a prime example of the the government's lack of honesty on economic issues.

Yes, the government did mention an infrastructure bank during the election campaign, but it did not say how it would work. I can say that mayors and elected officials in our ridings understood that there would be an infrastructure bank where money would be placed, and that the money would be lent at low rates to help the Liberals fulfill their promises. That is exactly what the Liberal candidates said during the 2015 campaign. Now we find ourselves with a monstrosity into which they will inject $15 billion, which was the amount promised for communities and the funding they could apply for. This money is being put in an infrastructure bank to try to attract private capital. The private capital will make up about 80% of the total capital.

The government is trying to make us believe that that is what it promised from the beginning, that is what Canadians were promised, and that is how it will be able to finance the entire infrastructure deficit. We are going to find ourselves with an infrastructure bank of about $200 billion dollars in capital that is 80% controlled by the private sector.

I do not know whether the government is just naive or whether it sincerely believes that it will still have the power to decide where that money goes, even though it is investing only 20% of the capital and getting the other 80% from the private sector.

There is a sort of contradiction here. Yes, programs have been proposed by the government. The government is talking about green infrastructure, transit infrastructure, and social infrastructure, which has never really been defined. The government has promised to invest $80 billion over the next 10 years. In addition, the Minister of Finance feels it is extremely urgent that the infrastructure bank be put in place by next year. The infrastructure deficit really needs to be addressed next year.

We understand that the infrastructure deficit is an urgent matter. We, too, have been talking to the Federation of Canadian Municipalities. However, if it is so urgent to have the infrastructure bank to begin to invest, why are two-thirds of the new investments announced in the government's economic update not going to be applied until 2021, 2022, or 2023? That is two elections from now.

Two-thirds of the promised amounts will not be invested until then. Only one-third will be invested before 2021, but it is extremely urgent to invest now and create the infrastructure bank.

During the election campaign, the Liberals never mentioned to Canadians that their plan might include tolls and user fees. It seems to me like that is more of a given at this point. That was never mentioned. The only time the Liberals spoke about tolls was when they said that there would be no toll on the Champlain Bridge. They never said that there would be tolls on all the other bridges. Obviously, tolls are the only way the private sector would be able to make a return on its investment in the infrastructure bank. Returns on investments do not fall from the sky. That money is not going to come for free. In order to see a return, the government will impose loans on Canadians, who will also have to help help pay for this infrastructure with their tax dollars.

Do they seriously expect anyone to believe that the infrastructure issue is going to be sorted out? Almost half of the government's plan is tied to the private sector, but they seem to think that they will be able to decide which projects go forward and where that private sector money will end up.

What we heard from Michael Sabia is that the private sector wants to see a 7% to 9% return. We have also heard from various investors that they would be unlikely to invest in projects worth less than $100 million. Some have even said they would probably not invest in projects worth less than $500 million.

There are no $100-million projects in my riding, but I do know of one such project: highway 20. Does anyone really think that investors from Bay Street, Wall Street, and even China and Australia, who were at that BlackRock meeting, would be interested in setting up a toll booth on highway 20 in Rimouski when they can invest that money in Montreal, Toronto, or Vancouver, where the returns, usage, and density are bound to be higher?

What the government is doing right now is presenting a facade of sorts to Canadians, saying that it is going to solve the problem and that it is doing what the Liberals promised during the election campaign. None of this was promised.

The Liberals definitely promised to resolve the infrastructure problem and invest money. Yes, funding has been allocated. We cannot disagree with them when they talk about funding for public transit and green infrastructure, because we made similar promises. Obviously, they never mentioned the private sector's role. They never mentioned that 80% of this infrastructure bank's capital would be funded by the private sector, nor did they ever mention that they would work not just with pension funds, but also with private funds, even international ones. They never promised that they would consider privatizing our airports and ports.

The Canadian government asked Credit Suisse to do a study on whether it should privatize eight Canadian airports. It asked Morgan Stanley whether it should privatize 18 Canadian ports, the 18 port authorities. Where was that in the Liberal election platform?

We are being advised by two investment firms less than 10 years after the debacle on Wall Street and the financial crisis. At least one of the two firms implicated in this debacle is now going to advise us on whether we should privatize the ports that it may decide to invest in. Some might recall that Morgan Stanley has already held shares in the Port of Montreal.

Is there not a single Liberal willing to acknowledge the possibility that it may be an apparent conflict of interest to ask investment firms that might benefit directly to advise the government on privatizing key infrastructure in Canada's economy without having spoken a single word about all this during the election campaign? This is not a minor decision. We would be radically altering the course of the Canadian economy. We are being asked to simply close our eyes and let it happen.

I do not see a big difference between the Liberal government and the previous Conservative government. At least the Conservatives were clear. They wanted to go in this direction and they said so. We did not agree with them, but they were honest about it. The Liberals say that they are really all about the common good and are committed to helping the middle class. However, they are secretly dealing with Wall Street and Bay Street in order to reserve shares for them in Canadian infrastructure. They never mentioned it before. They are going to do business with them so they can hand them over key infrastructure such as airports and ports.

We are not going to sound the alarm when it is announced in the media and the decision has been made. Our path is clear. One only has to scan the media to see that the government asked Crédit Suisse and Morgan Stanley to make recommendations about privatization.

It is clear to me that the Liberals are not even telling us half the story with respect to their economic agenda, especially as it pertains to infrastructure investments.

[The Assistant Deputy Speaker, Liberal, Anthony Rota]

The hon. member will have five minutes after question period.