Mr. Speaker, I am pleased to rise in the House today in favour of this motion.
I rise with complete objectivity, not being a part of the previous government. I am, however, very proud in the way the country's finances were run by the Conservatives. That is why I am a Conservative and why I believe the Liberals need to acknowledge the truth in the Department of Finance's report. I also believe that the Liberals have to stop blaming the previous government for the mistakes they are now making and the mistakes that many people in my riding know they are making.
I would first like to thank the independent, non-partisan officials from the Department of Finance for their hard work and evidenced-based analysis for the most recent “Fiscal Monitor”, as well as the deputy minister and his team. I want everyone who works in the Department of Finance to know that this Conservative Party and Canadians respect the work they do. We know they do it well. The Conservative Party trusts the information they provide as the truth. We know the work they do is not political. It is a shame, really, that the Liberals are using their efforts for their own political gain.
The people of Barrie—Innisfil and from ridings across Canada expect the government to act in their best interest when it comes to spending taxpayers' money. The most important part of fulfilling that fiduciary obligation is to balance the books, just as Canadians have to balance their own household budgets on a monthly basis.
Seniors are especially vulnerable and hard hit when the cost of goods and services and taxes rise. In Barrie, 18% of residents have reached the age of 60. In Innisfil, 14.5% of the population are 65 or older. When a senior in this country has to make a decision between heating and eating, we know that something is structurally wrong.
It is important to deal with the facts when it comes to managing the economy. The reality is, the previous Conservative government paid down $37 billion in debt before the great recession. Once that global financial tsunami hit our shores, a conscious decision was made to run deficits over the medium term. A comprehensive plan was put in place, and the previous government stuck to it.
Members from other parties were screaming for more and more spending, but a balanced approach was taken. The Department of Finance's official findings of the budgetary surplus of $1 billion for 2015-16 is a clear vindication of the Conservatives' strong leadership on the economy through nearly unprecedented tumultuous economic times. It is also relevant to note that the parliamentary budget office has also substantiated that the surplus was received.
It is interesting as I sit on this side and listen to government officials talk about the parliamentary budget officer. It is amazing what they used to say when they were in opposition about the PBO. The current President of the Treasury Board said, “That office has become indispensable, both to us as parliamentarians and to Canadians, who want to know what their government is doing with their money.”
The current Minister of Foreign Affairs, on April 29, 2013, said, “No one can deny that the Parliamentary Budget Officer produced some excellent analyses. Instead of shooting the messenger, the government should have listened to and respected what he had to say.”
The current member for Scarborough—Guildwood said, “Mr. Speaker, in November 2008 the PBO predicted a deficit, the minister a surplus. The PBO was right, the minister wrong.”
At another time the member said, “...the PBO tests the numbers against internationally recognized verifiers.... the PBO spends his money on peer-review panels rather than on spin and re-announcements.”
It is amazing to me how things can change once the government changes.
The studied, measured approach was an important reason why the deficit was reduced from $55.6 billion at the height of the great recession to a projected surplus of over $1 billion by 2016, which we now know was achieved.
Our rural areas, small towns, growing cities, and large urban centres all require targeted plans to stimulate the economy and promote economic innovation.
I am proud to be a member of a party that has a record of lowering taxes every year after coming into office. This made Canada competitive and allowed job-creating businesses to thrive. The former government recognized the best way to grow the economy and help create more jobs was to keep taxes low and to achieve a balanced budget.
The Liberals have not been clear on their plans regarding finances and the economy for Canadians. The new government must present a pro-growth agenda that involves tax cuts, free trade, and key investments in manufacturing, innovation, and infrastructure to get more Canadians working and earning more.
Since the election, I have been reminded by business leaders in my riding that their money is portable. One employer with 2,400 employees has told me point-blank that if taxes, debt, and deficits grow in this country and that burden falls on companies like his, he will seriously consider moving his operations. Money is portable.
As Canada's official opposition, the Conservative caucus is proud of its record of lowering taxes during its time in government. In fact, Conservatives reduced taxes over 200 times, saving the average Canadian family over $6,600 per year. Those pocketbook-saving measures included roughly $2.7 billion in annual targeted tax relief directly for the benefit of seniors and pensioners.
The Conservative caucus has always made lower taxes a priority. The Conservative Party has always recognized the importance of Canadians keeping more of their hard-earned money in their pockets. During the Conservatives' time in government, we removed over one million low-income Canadians, including 400,000 seniors, from tax rolls completely. We increased the amount that Canadians can earn before paying federal income tax at all, and we reduced the lowest personal income tax rate to 15%. We reduced the GST, we increased basic personal income tax exemptions from $8,148 in 2005 to $11,327 by 2015. We removed the $10,000 limit that applies on the amount that caregivers can claim under the medical expense tax credit on behalf of certain dependants.
Under the Conservatives, the federal tax burden has been the lowest in half a century. We are the party of lower taxes, lower spending, and strong economic management. The Liberal Party, on the other hand, is the party of big government, big deficits, and certainly big rhetoric. However, the numbers do not lie. If the Liberals run huge deficits, it will be their doing, and theirs alone. They will not be able to point to the previous government, as they so often do. The PBO and finance department are clear that the new Liberal government is beginning its mandate in the black due to hard work of the Conservative Party.
Unfortunately, the lack of tangible, clear economic plan for the party opposite spells doom for Canadians. The Liberals' laundry list of election-time promises point to a government that tried to be all things to all people in order to get elected. Their lack of details in governing signals the inevitability of economic instability, massive job losses, and higher taxation for all Canadians.
In their arrogance, the Liberals are running around this place and in Canada thinking that Canadians endorse their financial plan to place us deeper into debt and place us in a deep structural situation. I have news for them. There may have been other reasons why they got elected, but this is not one of them. Canadians, by nature, would not pile on debt or put their families into deficit or debt situations purposely and I do not believe they expect their government to do that either. I believe in that in all that I am.
In closing, I encourage all members to support this motion. Our economy is not a game. Choices have consequences. The stakes are high. By voting against this motion, the government would be signalling that it does not have any confidence in the employees at the highest levels of Finance Canada.
If the Liberal government does not trust its own officials, how can we expect it to prepare the budget or manage the finances of Canadians moving forward?