Debates of Dec. 6th, 2016

Budget Implementation Act, 2016, No. 2

[Rachel Blaney, NDP, North Island—Powell River, BC]

Mr. Speaker, the reality is that many families are facing multiple challenges around poverty. When I knocked on doors, I talked to many women who had quit their jobs because they could not afford to work and pay for daycare at the same time, simply because there was not affordable daycare. That meant they were sacrificing opportunities for themselves and their own careers. They felt hopeless, as if there were no way forward for their families. They wanted to provide good opportunities for their children and families' futures, but could not.

My answer to the member is that, first of all, it was a step in the right direction. We want to make sure that families are getting the resources they need to meet the needs of their families. But it does not have any impact on affordable child care, for having the child care spaces that are so badly needed in my riding and everywhere else, and the government did not index the Canada child benefit. They are not going to do that until 2020, and that is a shame.

[Adam Vaughan, Liberal, Parliamentary Secretary to the Prime Minister (Intergovernmental Affairs)]

Mr. Speaker, I heard and listened with great interest to the need for child care. I hope the member opposite recognizes that we were a matter of days away from a national daycare strategy when the party opposite chose to pull the trigger on a minority government and defeated a national daycare program. For that, they should be held responsible. They could have waited and could have delivered that, and $2.7 billion for housing. They could have delivered the Kelowna accord, and they could have delivered so much for this country if they had just had a little patience.

My question is this. I have heard the NDP rail against public-private partnerships ever since we started talking about the infrastructure bank. There is a project on Bay Street, a street they love to point fingers at in Toronto, that requires a public-private partnership to succeed. It requires the sale of a public asset, a parking lot, and the redesign and reconstruction of the GO bus terminal in a new office tower, which will be built by a Quebec pension fund. The profits from this project would not only deliver a new park over the rail corridor, it would also build a new ferry terminal, one of the most important pieces of infrastructure for the working class in Toronto. That ferry terminal cannot be built without a public-private partnership. It will be called the Jack Layton ferry terminal.

Would they like us to cancel the Jack Layton ferry terminal? Is that what they are actually saying in their—

[The Deputy Speaker, Bruce Stanton]

The hon. member for North Island—Powell River.

[Rachel Blaney, NDP, North Island—Powell River, BC]

Mr. Speaker, I would like to take this opportunity to remind the hon. member that it is 2016 and that we should let go of something that happened 13 years ago and really deal with the issue that we need to see a real change on, namely, providing affordable child care. This is something that people across this country are asking for. As a government, I believe it is the Liberals' job to listen.

If we are going to talk about a privatized bank for infrastructure, my response is very simple. If this were the plan of the Liberal government all along, why was it not clearly spelled out in the Liberals' campaign? Were they so afraid to tell Canadians what their plan was that they did not inform them as they should have? That is what we do when we campaign. We put forward a plan and we are transparent, and if the Liberals want to talk about transparency, maybe they should try it a little more.

[The Deputy Speaker, Bruce Stanton]

Before we resume debate with the hon. member for Vaughan—Woodbridge, I will let him know that while he would normally have 20 minutes for his remarks, we are going to be down to about 14 minutes, given the time available for government orders this afternoon.

Resuming debate, the hon. member for Vaughan—Woodbridge.

[Francesco Sorbara, Liberal, Vaughan—Woodbridge, ON]

Mr. Speaker, it is my pleasure to speak again to Bill C-29 in this House. I am not sure my remarks will be as colourful or as passionate as the prior exchange, but I will try my best.

When I speak to Bill C-29 and think about budget 2016, I think about where it will take our economy, I think about where it will take the residents of my riding of Vaughan—Woodbridge, and I think about what it will do for those middle-class Canadians, those working Canadians in our country, who are working every day and putting food on their tables and saving money for their children's future, for their children's school, for their education, for their sports and so forth.

I think about our budget and what our government is doing for Canadians on a daily basis, whether via the Canada child benefit or the tax cut that has benefited nine million Canadians over the last year, and the $20 billion in tax relief over the next five years. I think about the enhanced CPP and the historic agreement that our government reached with the provinces. I think about all these measures that we are putting in place, which will strengthen our economy, which will translate into faster economic growth and, fundamentally, translate into good-paying jobs for all Canadians.

In this part of the speech, I look at what we have done with the Bank Act and some of the regulations that we have codified and changed. I was there when the global financial crisis hit Canada and the world. I remember seeing some of the banks in the United States not make it due to a liquidity crisis, and during that time I saw the strength and regulation of the Canadian banking industry come through. I saw how strong our banks were, with their tier-one capital levels and the low delinquency rates in the Canadian housing market. I saw how the regulators, whether at OSFI, the Bank of Canada, or the superintendent of financial institutions, were all coordinating and working together to ensure that we had a strong banking sector. We have continued to evolve along that line. We have continued to work with the Department of Finance, OSFI, and the Bank of Canada to ensure that we have a strong housing sector.

It gives me great pleasure to talk about the Canada child benefit, which helps nine out of every 10 Canadian families with $2,300 extra a year that will lift 300,000 children out of poverty in Canada. That is something I am sure that all of my colleagues from all parties should applaud and vote for. I am surprised they have not done so.

The CCB is transformational. The CPP enhancement is historic. The tax cut for middle-class Canadians is the centrepiece.

With with Bill C-29 and budget 2016, we are moving our economy forward and building a stronger Canada, a more diverse, inclusive country, with better economic growth. We are in a period, I would say, of world economic history when Canada is standing out as a beacon of light. We have strong fiscal framework that we continue to improve, a balance sheet that is the envy of the world, and an AAA credit rating. I cannot be more proud to be on the Standing Committee on Finance to ensure that Canada moves forward in a strong way.

On a personal level, it speaks to my two children at home, Eliana and Natalia, my two girls whom I miss fondly when I am here in Ottawa and who I hope have brighter futures. They are 4 and 6 years old, and I am here as the representative of my riding, fighting to make sure that their future is one heck of a bright one.

I will stop my remarks there and look forward to Q and A.

[Harold Albrecht, Conservative, Kitchener—Conestoga, ON]

Mr. Speaker, I have asked this question a number of times. In fact, I asked the member for Winnipeg North yesterday why he moved an amendment to remove a clause from this bill, and then during the votes last night voted against his own amendment. I wonder if my colleague could answer that question.

Another question that has not been answered in this debate is when the Liberal government intends to return the budget to balance. Continuing to build on the deficits we have is adding unbelievable amounts of interest costs. In fact, interest costs will go up by $15 billion per year over the next four years. I am wondering if my colleague could answer that.

[Francesco Sorbara, Liberal, Vaughan—Woodbridge, ON]

Mr. Speaker, in their 10 years of governing, the Conservatives added about $155 billion of new debt to Canada's total debt. They basically ran deficits every year after inheriting a $13 billion surplus when they came to power. So, nice job, gentlemen.

In my years of experience working on Bay Street and Wall Street, one of the measures that many of us have looked at was the debt-to-GDP ratio. That ratio is around the mid-thirties right now. We intend to keep it in that area and for it to decline on a year-over-year basis. That is a proper measure.

I would add that we inherited not only a fiscal deficit but also an infrastructure deficit and an educational deficit, and that we had to invest. We had to invest in social infrastructure and green infrastructure.

[Pierre Nantel, NDP, Longueuil—Saint-Hubert, QC]

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

I would like to remind him that credit card companies never give average Quebeckers a break.

On that topic, one of my constituents, who owns a supermarket, came to see me to tell me how ridiculously expensive credit cards are for both consumers and retailers.

Obviously, the Liberals were so busy playing holier than thou throughout the election campaign that now we have to constantly remind them that they promised that everything would be fine. In reality, what we are seeing is the return of omnibus bills. What is more, the Liberals do not even have the guts to deal with the real problem, the exorbitant interest rates on credit cards. It gets even better. They are giving our infrastructure and great returns to their friends the banks while continuing to run up the deficit. Who will get that interest? The banks.

Why are the Liberals favouring banks to the detriment of consumers in Quebec and Canada?

[Francesco Sorbara, Liberal, Vaughan—Woodbridge, ON]

Mr. Speaker, I am very proud of our government's work with the Province of Quebec and all the infrastructure funding that we have announced over the last several months for la belle province.

I would also like to add that our government is very supportive of and understands full well the importance of small and medium enterprises, and that we will do everything within our wherewithal to make sure they succeed from coast to coast to coast.

[Harold Albrecht, Conservative, Kitchener—Conestoga, ON]

Mr. Speaker, let me try again. During the finance committee's pre-budget consultations, the committee heard from many people across Canada, many experts, who were cautioning the government about going further and further into debt.

In fact, I want to quote from The Macdonald-Laurier Institute:

...setting out a clear and credible plan to eliminate the deficit in particular should be the government's top budget priority, and—I put it to the committee with respect—your top priority as well.

Failing to do so risks setting us on a path of protracted deficit and increasing long-term costs or long-term opportunity costs. In this regard, I'd encourage the government to reconsider the enactment of fiscal rules, such as balanced budget legislation.

Would my colleague explain why his government, upon taking office, immediately reversed the balanced budget legislation our government had enacted, which would have kept us from this precarious position of going further and further into deficit financing?

[Francesco Sorbara, Liberal, Vaughan—Woodbridge, ON]

Mr. Speaker, our government ran on a platform of investing in Canada and Canadians. That is what we plan to do. That is what we are executing on. It is a $180-billion program to invest in infrastructure. The members opposite left us with a huge infrastructure deficit. We are looking at the world environment, a period of very low interest rates. Every expert who came to the finance committee encouraged the governing party to invest in infrastructure to take advantage of the low interest rates currently in effect, basically globally, and to use this opportunity to invest in Canada and Canadians. That is what we will continue to do.

[David Graham, Liberal, Laurentides—Labelle, QC]

Mr. Speaker, over the nine years from 2006 to 2015, the Conservatives managed to balance two budgets that they inherited from the Liberals, then threw us into deficit in 2008, and then spent $160 billion in new debt without having anything to show for it.

When we buy a car, the value of the car drops over time. The Conservatives spent $160 billion. When we buy a house, it generally retains its value. It is an investment.

I wonder if the member could speak to the value of the gazebos we acquired, the fake lakes, and so forth, and whether they could have done a bit better with that investment over those nine years.

[Francesco Sorbara, Liberal, Vaughan—Woodbridge, ON]

Mr. Speaker, I do remember quite well the gazebo that was built. I have not visited it, so I cannot describe what it looks like. I do understand it was an investment made in one of the member's communities. I am not sure quite why.

Our government is continuing to invest in Canada and Canadians. If we look at our Canada child benefit, if we look at our infrastructure program, whether it is green infrastructure or social infrastructure, whether it is helping daycare centres rebuild, whether it is helping to put investment into women's shelters, we are doing what Canadians expected and wanted us to do when they voted for us and gave us our mandate.

[Harold Albrecht, Conservative, Kitchener—Conestoga, ON]

Mr. Speaker, I ask this question of all my Liberal colleagues. How can they stand in the House and say time after time that they were left with a deficit when the parliamentary budget officer and the Department of Finance clearly said that the Conservatives left the government with a huge surplus? In fact, over one billion dollars. I would like the member to correct the record for the House and all Canadians and let them know that the Conservative government left the Liberal government as it came into power with a huge surplus.

[Francesco Sorbara, Liberal, Vaughan—Woodbridge, ON]

Mr. Speaker, what I will say to my hon. colleague, very simply, is I am here to build a better Canada along with my colleagues and to make sure that my children, who are growing up in this wonderful country of ours, have a bright future ahead. That is why we are making the necessary investments, be it infrastructure, social, green, community housing, or introducing the Canada child benefit, those key investments that will provide long, more inclusive, and higher growth rates for the economy.

[Nick Whalen, Liberal, St. John's East, NL]

Mr. Speaker, I would like to ask the member more about the Conservative deficit they left us, not only the financial deficit, but deficits in staffing levels in government departments, in supports for veterans, in support for the poorest Canadians and children. I am hoping the member can elaborate a little more on all the good we are doing to undo the other social fabric deficits, infrastructure deficits, and government support deficits that the previous government left this government with.

[Francesco Sorbara, Liberal, Vaughan—Woodbridge, ON]

Mr. Speaker, my focus here as a representative for Vaughan—Woodbridge is very simple. It is to make sure that we are working hard day in, day out to provide a better future for not only the residents I represent, but for all Canadians. That is what our government is doing. That is the plan we put forward and that is why we are executing on it, whether it is the Canada child benefit, whether it is the measures contained in Bill C-29 that deal with tax fairness, tax evasion, and tax avoidance, whether it is our regulations dealing with the Bank Act to make sure that Canadians from coast to coast to coast know that the banking system is sound and stable, that there are people they can turn to if they have concerns.

[The Deputy Speaker, Bruce Stanton]

It being 5:15 p.m., pursuant to order made Monday, December 5, 2016, it is my duty to interrupt the proceedings and put forthwith every question necessary to dispose of the third reading stage of the bill now before the House.

The question is on the motion. Is it the pleasure of the House to adopt the motion?

[Some hon. members]

Agreed.

No.

[The Deputy Speaker, Bruce Stanton]

All those in favour of the motion will please say yea.

[Some hon. members]

Yea.

[The Deputy Speaker, Bruce Stanton]

All those opposed will please say nay.

[Some hon. members]

Nay.

[The Deputy Speaker, Bruce Stanton]

In my opinion the yeas have it.

And five or more members having risen:

Call in the members.