House of Commons Hansard #217 of the 42nd Parliament, 1st Session. (The original version is on Parliament's site.) The word of the day was finance.
Justin Trudeau Liberal Papineau, QC
For months, Mr. Speaker, members opposite went on and on about how we were attacking small businesses, even though we were doing no such thing. We have demonstrated that we are moving forward on keeping our electoral commitments to lower the small business tax to 9%, while at the same time ensuring that the wealthiest Canadians do not benefit from tax advantages that middle-class Canadians do not. This is our focus.
It is no wonder that they have nothing to do but sling mud.
Anne Minh-Thu Quach NDP Salaberry—Suroît, QC
Mr. Speaker, the Liberals are truly pitiful. During the election campaign, the Liberals promised to amend our inadequate bankruptcy laws to put an end to pension theft. Two years later, they have yet to do anything. If they had acted more quickly, they could have protected Sears workers and pensioners. Now it is radio silence, and it is as though they never even made that promise. Oddly enough, today, we learned that Morneau Shepell will be in charge of the Sears Canada liquidation. This is just as bad as the sponsorship scandal.
Did the Prime Minister forget his promise because the status quo will benefit the financial interests of—
Justin Trudeau LiberalPrime Minister
Mr. Speaker, I expect this kind of cynicism from the Conservatives, but it is very disappointing to hear it coming from the NDP. We will continue to work with Canadians, with workers who are going through tough times, especially those in the retail sector, and we will continue to support families, workers, and seniors to ensure that they are confident about their futures. That is what this government does every day, and that is what we will continue to do.
Scott Duvall NDP Hamilton Mountain, ON
Certainly not supporting the middle class that is for sure, Mr. Speaker.
Workers at Sears Canada are very worried about whether their pensions will be protected, but guess who has been appointed to administer the Sears Canada pension plan? Morneau Shepell. This is a company that advocates transferring more risks from employer to employee.
The government promised it would fix our bankruptcy laws but it has done nothing.
Furthermore, if Bill C-27 becomes law, the finance minister will profit off workers getting stuck with weak pensions.
I have a simple question for the Prime Minister. Is this the real change he promised working Canadians?
Justin Trudeau LiberalPrime Minister
Mr. Speaker, our hearts go out to the workers who were affected by the decisions taken by Sears.
We are making every effort to connect Sears employees and pensioners with programs and services that will help them get through this tough time. I understand current Sears Canada pension fund assets are held in trust, and must be used solely for the benefit of pensioners.
Service Canada has been meeting with representatives of Sears Canada to ensure a rapid national and coordinated response to meet the needs of the impacted employees. Approximately 80 sessions have already been delivered across this country.
Ruby Sahota Liberal Brampton North, ON
Mr. Speaker, this year is the 38th Small Business Week, which celebrates Canada's entrepreneurs and small businesses. From mom-and-pop shops in Brampton, like T By Daniel to innovative giants, small businesses truly are the backbone of the Canadian economy.
This week, over 208 events being held from coast to coast to coast give entrepreneurs the opportunity to network, and access business advice and solutions.
Could the Prime Minister tell us how our government is helping small businesses in Canada?
Justin Trudeau LiberalPrime Minister
Mr. Speaker, our government always has supported and always will support hard-working Canadian entrepreneurs and small business owners.
This week we announced that we are delivering on our commitment to reduce the small business tax rate to 9%, and that small businesses would have to have, at 5% returns, over $1 million sitting in their account to be impacted by our proposals.
We all benefit when Canadian businesses are strong and creating good, middle-class jobs for Canadians and those working hard to join the middle class.
Jacques Gourde Conservative Lévis—Lotbinière, QC
Mr. Speaker, by secretly keeping his shares in the financial services firm he runs, the Minister of Finance was able to earn $13 million in passive income and capital gains since becoming finance minister two years ago.
Ministers are not allowed to own shares. To get around that, the finance minister put his shares in his numbered company in Alberta, thereby circumventing ethics rules and paying less tax.
When did the Prime Minister find out that his finance minister was using a loophole to hold on to shares in a company he runs?
Justin Trudeau LiberalPrime Minister
Mr. Speaker, it is very disturbing that personal attacks are being made not only against the finance minister but also against the Conflict of Interest and Ethics Commissioner.
The Minister of Finance worked with the commissioner to ensure that he was following all the rules and principles. What is more, he remains open to continuing to work with her if she has any further requests that go above and beyond her initial recommendations.
Peter Kent Conservative Thornhill, ON
Mr. Speaker, a question through you to the Minister of Finance, though we know the Prime Minister is speaking for the Minister of Finance again today. It is a simple question, which I hope the Minister of Finance will make himself available to the House to answer, sooner than later.
When did the Minister of Finance advise the Prime Minister—when did the Prime Minister learn that Canada's chief financial officer so deliberately offended the spirit of the ethics law?
Justin Trudeau LiberalPrime Minister
Mr. Speaker, I am pleased to once again highlight that during Prime Minister's question period on Wednesdays, I am happy to take all questions from all members opposite.
Furthermore, in the time since the Minister of Finance was elected, he has worked with the Conflict of Interest and Ethics Commissioner to ensure that his personal holdings conform with the rules, principles, and laws that regulate us all in this place, and will continue to do exactly that.
Mark Strahl Conservative Chilliwack—Hope, BC
Mr. Speaker, the Minister of Finance has been secretly holding $40 million of shares in a financial services company. The minister regulates pensions; his company administers pensions. He introduced a bill to promote target benefit pension plans; his company administers those plans. His tax proposal coerces small businesses to open individual pension plans; his company sells those plans.
When did the Prime Minister learn that his Minister of Finance still owns $40 million of shares in a financial services company he regulates as minister?
Justin Trudeau LiberalPrime Minister
Mr. Speaker, it is actually fairly interesting. For months we heard nothing from the Conservatives except concern about our proposals to make the tax system fairer.
Now that we have laid out what we are doing, and were always intending on doing, they have nothing to say about that. The Conservatives have fallen back on personal attacks, on throwing mud, on calling into question not just the Minister of Finance's ethics, but the Conflict of Interest and Ethics Commissioner herself. That is really where the members opposite have ended up.
They know that the proposals we put forward for small businesses and Canadians are the right ones.
Mark Strahl Conservative Chilliwack—Hope, BC
Mr. Speaker, the finance minister is forbidden from owning stocks in finance companies, but he used an ethics loophole to stash the stocks in a numbered company in Alberta. The same finance minister who has called farmers and plumbers tax cheats for using what he calls “loopholes” used an ethics loophole to keep his stocks, which have made him $13 million while he has been the Minister of Finance.
When did the Prime Minister learn that his finance minister used ethics loopholes to pocket $13 million by owning stocks in a company he regulates as the Minister of Finance?
Justin Trudeau LiberalPrime Minister
Mr. Speaker, now we see clearly that the supposed concern of the members opposite for plumbers, farmers, electricians, and small business owners was nothing, because as soon as we put forward the proposals to demonstrate that we would be supporting small businesses while making sure that the wealthiest Canadians pay their fair share of taxes, they had nothing to say about it.
They have completely forgotten all the arguments they have made over the past months and do nothing but engage in personal attacks and slinging mud, both at the finance minister and the Conflict of Interest and Ethics Commissioner. Shame on them.
Jenny Kwan NDP Vancouver East, BC
Mr. Speaker, everyone knows that Bill C-27 furthers the private interests of the finance minister. The Conflict of Interest Act states that a minister is in a conflict “when he or she exercises an official power...to further his or her private interests or those of his or her relatives”.
Will the Prime Minister just admit that his Minister of Finance has violated the Conflict of Interest Act, or is he just too busy working hard for the French villa owners, or those who are working hard to become French villa—
Justin Trudeau LiberalPrime Minister
Mr. Speaker, our focus remains on supporting the middle class and those working hard to join it. That is exactly what we have been doing, lowering taxes on the middle class, raising them on the wealthiest 1%, delivering a Canada child benefit that helps nine out of 10 Canadian families, staying focused on strengthening the guaranteed income supplement for our vulnerable elderly seniors, and helping students get back to school with upfront grants and more money. These are the types of things we are focused on. All the while, we trust in the Conflict of Interest and Ethics Commissioner and the recommendations she makes to each and every one of us in the House.
Nathan Cullen NDP Skeena—Bulkley Valley, BC
Mr. Speaker, the Prime Minister kept calling this a “conflict of ethics”, so I wonder how many sets of ethics the Liberals actually have for them to have a conflict between one set and another.
He said he is focused on what he thinks is important. Well, a finance minister setting up a numbered company to exploit an ethics loophole is important to Canadians. He says this finance minister's breaking of his own ethics code is “petty politics”. We think protecting Canadian pensions is important and do not think a conflict of ethics is petty politics.
When is he going to apologize for his dismissive remarks and finally take some action about this blatant abuse of public office?
Justin Trudeau LiberalPrime Minister
Mr. Speaker, when the opposition has to resort to nothing more than mudslinging and personal attacks, we can see that the government must be doing something right. We are, because we are investing and are lowering taxes for the middle class and raising them on the wealthiest 1%.
We are lowering small business taxes for Canadians right across the country. We know that small businesses are at the heart of the economy. They are the employers, the local community hubs that make such a difference in our towns and cities right across the country. We are going to continue to stand up for small business owners and grow the economy in ways the previous government never could.
Luc Berthold Conservative Mégantic—L'Érable, QC
Mr. Speaker, today's answers clearly show that the Liberal government has a serious credibility problem because they live in a world that is out of reach for the middle class. The government keeps its word only as long as the cameras are rolling. The more the Liberals repeat something, the more people should be worried. Their tax reform that attacks farmers proves it. The parliamentary secretary for Canada-U.S. relations was clear. The government has room to negotiate with the Americans on supply management.
Can the Prime Minister confirm this?
The parliamentary secretary basically revealed the government's true position.
Justin Trudeau LiberalPrime Minister
Mr. Speaker, I speak on behalf of all the members on this side of the House when I say that we will always stand up for supply management. It was a previous Liberal government that implemented it. The Liberal Party and all its members will always stand up for supply management. Unfortunately, the members opposite cannot say the same.
Luc Berthold Conservative Mégantic—L'Érable, QC
Mr. Speaker, on October 11, in a debate that was televised, recorded, and broadcast in the United States, the parliamentary secretary said this:
“Is there room to discuss and negotiate? Of course.”
Contrary to what the Prime Minister and the ministers are saying, the truth is that the Liberals are ready to make concessions with respect to our supply management system.
Will the Prime Minister chastise the parliamentary secretary for giving the Americans that opening? Any concession will have disastrous consequences for dairy, egg, and poultry producers.
Will the Prime Minister promise to protect the integrity of the supply management system?
Justin Trudeau LiberalPrime Minister
Mr. Speaker, I just want to say how pleased I am to see how enthusiastic the member opposite is about supply management, and I hope he will talk about it on Wednesday mornings. I can assure everyone that the Liberal Party will always defend supply management. The system works for our producers and our consumers. We have managed to negotiate plenty of international agreements without infringing on supply management. We will always defend supply management.
