Madam Speaker, I will be sharing my time with the member for Gatineau this evening.
It is a privilege to be here in the House, albeit virtually, to speak to this particular motion that has been raised by the member for New Westminster—Burnaby.
I will give a little context to my colleagues of how I come to see this issue, and I will get into some of the specific text of the motion in a moment.
I grew up in a rural community, not unlike some colleagues I heard speak earlier. My father was a truck driver and my mom is an administrative assistant at the local school. The type of family I grew up in could be best described as paycheque to paycheque. We did not have a whole lot. I was fortunate that my parents worked very hard so I did not want for anything, but I can certainly appreciate the essence of the motion of trying to support Canadians and making sure those who are struggling have the support they need.
I will explain why I decided to run for the Liberal Party. Of course, I was not part of the last Parliament from 2015 to 2019, but when the member for Papineau became Prime Minister in 2015, it was on a campaign of helping support middle-income Canadians and helping support Canadians in need, which was something that really resonated with me.
When I look at the results of what was achieved over the last four years, which certainly has been continued in this Parliament, one million Canadians were lifted out of poverty. There was significant investment in things like the Canada child benefit, and I have heard and spoken in the House about what that has meant for my constituents and I am sure Canadians across the country. We have moved forward with a national housing strategy and made massive investments across the country to help support Canadians with affordable housing, and the parliamentary secretary made a number of remarks on that today in the House.
There has been a lot done. This has been one of the most progressive governments in Canadian history in terms of helping support Canadians who need the help the most. Frankly, I could have an entire speech just on that, but I want to go the COVID-19 global pandemic, as we are now faced with one of the most pressing times that Canadians have faced in recent memory.
I am proud of the efforts that our government has made to make sure that Canadians who are most vulnerable are taken care of, whether that was through the Canada emergency response benefit, which has benefited, I believe, eight million to nine million Canadians at the height of the pandemic, or the Canada emergency business account, a $40,000 loan, which has been extended to provide an additional $20,000 for businesses that need it. That is not going to big business. It is going to small businesses in rural communities and communities across the country. I can tell members first-hand that this has been benefiting small businesses and individuals who need it.
On the wage subsidy, I will admit that it has benefited larger companies as well, but it has protected Canadian jobs and that has been the focus for our government. Our government has focused on supporting Canadians, jobs and small businesses throughout this pandemic. It is a record that I am proud of, and I know that the work will continue in the days ahead.
I will now go to the actual text of the motion that has been put forward.
The idea of a wealth tax on individuals who are high-income earners is, frankly, a good idea, but in practicality, how this plays out is where I have some questions that perhaps some of my NDP colleagues or other colleagues, if they have had the chance to listen all day on this particular motion, could answer.
The member for Timmins—James Bay, who was speaking before me, talked about the movement of capital. We are in a globalized world, and I worry about a policy like this without international co-operation where we have other jurisdictions in the world following suit in an international framework.
How do we prevent the movement of capital and wealth outside the country?
I have not heard a whole lot from the NDP members on how we avoid something like that. France, for example, a G7 country that has comparable economics and obviously progressive politics as well, introduced a wealth tax previously, which has since been repealed. In fact, there were 12 countries in the European Union back in the 1990s that had a wealth tax at one point. We are now down to three. Inherently, yes, the idea has merit and could benefit Canadians in helping to pay for programs, but if it results in a flight of capital and we are not co-operating with other jurisdictions, how is that going to be effective in supporting Canada's long-term growth and prosperity?
I want to go now to the profiteering aspect. There has been a lot of comparison in the House today with World War II, comparing COVID-19 with the fact that the Government of Canada at that time had introduced significant measures to try to pay for the war effort. The minister of finance, who was a Liberal minister at the time, was actually a member of Parliament from the same area that I represent. It was J.L. Ilsley. When I went back and looked at the history, there was no wealth tax as part of the legislation to pay for the government expenditure during the war. There was a significant increase in personal income taxes, and obviously a progressive rate for those who were making large amounts of money.
However, from day one, one of the first moves of the government in 2015 was to increase taxes on the richest 1% in this country to help pay for tax cuts for other Canadians. This was not a measure back in World War II and really the focus for the government at the time during the war was to put some type of measure in place to support those companies that were making profits as a result of the booming economy and the investments that the government was making.
For my NDP colleagues or others who might have thoughts, I wonder if this motion should not be structured more perhaps to companies that are making those profits. I know grocers have been mentioned. As a member who sits on the agriculture committee, I believe there is work to be done in exploring a code of conduct in working with provinces to try to help regulate or ensure that there are equitable relationships between food producers, consumers, processors and the largest retailers in this country.
However, what is the definition of profiteering? What is the definition of a big corporation? Does that include something like the Apple Valley Foods company in my riding? Does that include Michelin? We have mentioned Amazon. We have mentioned some of the global giants, but where does that threshold end? That is the problem I have with this particular motion. It is the ambiguity involved.
I am going to read the definition of “profiteering”. It is in front of me right now on my computer. It comes from the Oxford dictionary. According to Google at this point, profiteering is “the practice of making or seeking to make an excessive or unfair profit, especially illegally or in a black market”.
The New Democrats have done a great job of illustrating the money that is being made by some of the richest people in the world. Yes, there is income inequality around the world. Can we point to an example or a number of examples in Canada where companies have been price gouging, perhaps with the grocers? I would genuinely be interested to know what some of those examples are. Loblaws has been used as an example, but I would like to know others and whether the New Democrats share that definition of profiteering or if they have a more concrete one. I know the member for Chatham-Kent—Leamington asked a similar question, not too long ago, on that.
As it relates to social spending, we all agree that spending to help support Canadians, especially those who are most vulnerable, is certainly laudable and it is something that this government has been doing since day one, as I have already mentioned.
When I look at basic income I would ask the New Democrats if this is a basic income, above and beyond the existing social programming in Canada, or if we would be trying to find a way to lump that together to give individuals dignity and have almost a negative income tax or one basic payout. That would be my question on that.
In terms of health care, we are a government that has put $11 billion in additional funding on top of the Canada Health Act and the transfers to the provinces to support specific health initiatives.
The next point is around housing. We do have a national housing strategy, and the parliamentary secretary earlier was talking about those investments. We do have the rapid housing investment. I have seen in my own community of Kings—Hants the investments that this government has made.
My final point would be that the Parliamentary Budget Officer has said that the measures the NDP is proposing would raise about $5.6 billion over the course of one year. Everything that I see in front of me on this motion would probably be close to about $100 billion. How do we go about paying for that when we have probably a $400-billion deficit at this point? Do the New Democrats have some suggestions on that?