Mr. Speaker, it is an honour to rise today to speak to Bill C-86, the budget implementation act. I feel fortunate that I will get to speak on this bill, but because of time allocation on this bill and multiple others by the government, many of my colleagues are not going to have the opportunity to debate it. I feel fortunate that I at least get to debate the bill and question the government.
It has been pointed out many times that the government made numerous promises in its election campaign that it has no intention of upholding. When I make a promise, I vow to uphold it, but the government seems to have no respect for that whatsoever or for Canadian citizens, which I find simply abhorrent.
Liberals promised not to introduce omnibus bills and yet we have a budget implementation act of over 800 pages, almost 900 pages, in fact. Just the summary of this bill is over 12 pages long. It is a massive bill that deserves full debate in the House, but with time allocation being applied, we will not get that opportunity. I have spoken with my colleagues who wanted parts of this bill taken out and debated separately in committee, but those requests were denied by the Liberals at committee. It is a shame that we cannot properly debate a bill that is so important to every Canadian.
I will go back to the election promises that the government made back in 2015. Liberals claim to have been elected on a mandate of what they said they would do for the Canadian public and a big part of it was to keep the deficit below $10 billion per year. That is a promise broken. Another part of the 2015 election campaign was that deficits would decrease annually as Liberals moved through their mandate. That is a promise broken. Liberals promised to reach a balanced budget by 2019. That is a promise broken. They promised to be open and transparent in their government. We have seen multiple times how that promise has been broken and we have another example of it again today with time allocation being applied to debate on this bill so that we cannot fully expose this bill for what it is to the Canadian public.
When I return to my riding of North Okanagan—Shuswap, increasingly people approach me and ask what we can do to stop this out-of-control spending by the government and the debt that it is passing on to future generations. That truly concerns me. There are a lot of young entrepreneurs in my riding looking to a brighter future, but we see what the government is doing with these continual deficits of nearly $20 billion year after year. Most people cannot visualize what that $20 billion would look like in a project in the town or community they live in or a project at home.
That $20 billion does not translate easily to individuals, but it creates an approximate $600 debt load per person. The government puts every man, woman, child, infant and senior in Canada further in debt by almost $600 every year. In three years, that is $1,800 for every man, woman and child. Imagine what it will cost a family of four people. It is unbelievable when people hear what this really means for families and individuals. When we work into that the percentage of Canadians who are full time in the workforce, it is probably about 25% of Canadians. Therefore, one in four Canadians is paying back the incredible debt that the government is building up.
In 2019, we are working towards electing a Conservative government, led by our leader. We are looking forward to bringing reality back to finances in Canada, so that we can provide hope and prosperity, and a future for those young Canadians.
The only way we are going to be able to do that is to try to keep them out of this incredible debt that the government keeps piling on. I cannot imagine. I have a daughter and son-in-law who have established themselves, but I cannot imagine having teenagers or young children right now and having to tell them that, with the government, they are going to be another $500 or $600 per year further in debt every time the government passes a budget. That is very troubling to me. I cannot imagine passing on that information on the doorstep.
That is what I am hearing from people when I am back home. They do not want that debt passed on to their children. Time and time again, people are asking, “How can we stop this?”
Another of the factors that have popped up in this bill and that have been pointed out is the increase in the debt servicing costs of government. It will not matter whether it is a Liberal, Conservative, coalition or minority government. It will not matter; the increased debt servicing costs could grow by up to 60% under the current government's plan. That is incomprehensible. It will mean that we could end up paying more in debt servicing per year than our current health care transfers to the provinces.
What it means is that what the government is creating in deficits and debt load to future governments is going to be taking away from something else that we should be able to pay for in the future. Whether that is housing, health care or business investment, all of those things are going to be impacted by the debt load that is currently being passed on by the government.
Getting back to some more of the promises that were made by the government and have now been broken, it promised to reduce business taxes. It has done that in some ways, but in other ways it has reached into the back pockets of business people and taken more out than it has actually put in. It did that earlier this year with the implementation of the deferred income taxes.
The government increased taxes on passive income investments. It will be up to 73% that individuals will have to pay on those passive investments. That is absolutely killing corporate investment in avenues other than their core business. Many people who had surplus income in their primary business decided to purchase rental properties, whether it was detached homes or small apartment buildings and so on. They would invest their extra income in purchasing those rental properties to create lower-income rental opportunities for individuals in the community who could not afford to purchase their own home.
I have had those individuals approach me time and time again over the summer and since, and they say they are no longer going to do that. There is no point in investing in a secondary business other than their primary investment. It is no longer feasible because of what the government is doing.
I know my time is running down, so I will try to wrap up. With over 800 pages in this bill, it is really difficult to fit in much detail about the individual pieces in a 10-minute presentation. Again, I want to stress the fact that the government has moved time allocation on the bill which, for most of our members, will remove the opportunity to speak on this bill. Again, it is deplorable that the government keeps doing this. I cannot comprehend how we are going to get past this.
We need to work together, as government and as opposition, on what is good for Canadians, but the government is making it almost impossible. I will wrap up with that statement.