Debates of Dec. 8th, 2021

Supplementary Estimates (B), 2021-22

[Mark Gerretsen, Liberal, Kingston and the Islands, ON]

Madam Chair, on the same topic, I am curious if the minister, his predecessor or anybody in the Public Health Agency ever actually thought that it would not be until 2030 that people were vaccinated.

[Jean-Yves Duclos, Liberal, Québec, QC]

Madam Chair, that is indeed quite a funny story, because we have been leading the world concerning vaccination for many, many months. I am sorry to say that I have heard that perhaps the last to be vaccinated in Canada, and perhaps not before 2030, would be some of our Conservative MP friends.

[Mark Gerretsen, Liberal, Kingston and the Islands, ON]

Madam Chair, I was going to ask the minister if he knew the percentage of Conservatives who were vaccinated, but I did not want to get overly rhetorical in my discussion today, so I sidestepped that one despite the fact that I had written it down.

I will shift to the public service now and to the President of the Treasury Board. As I said in my preamble, our public service has really stepped up, not just in taking care of Canadians, but in showing leadership themselves by being vaccinated. I am wondering if the President of the Treasury Board can expand and let us know how many of our public servants have been vaccinated, as well as perhaps a broader update on the mandatory vaccination of our public service.

[Mona Fortier, Liberal, President of the Treasury Board]

Madam Chair, as we know, vaccines are the best way to bring this pandemic to an end, and the public servants have stepped up. Over 95% of our public servants have received both doses and over 98% have received their first dose. This is an incredible gesture to demonstrate how important it is to keep Canadians safe and secure. We will continue to encourage public servants and those in other organizations across the country to continue to get vaccinated.

[Mark Gerretsen, Liberal, Kingston and the Islands, ON]

Madam Chair, I am wondering if the minister can further expand on how important it is for members of the House to be vaccinated in terms of showing our public service that we are willing to lead by example, not just to be vaccinated but to actually proudly stand and say that we believe in the health and science information; we believe that it is important to be vaccinated, and we are going to show that through leadership by doing it ourselves.

My question is specifically around our public service, which we expect to take direction from us. How important is it for us to be out front, leading and showing them as members of Parliament that we are willing to be vaccinated, and that we do it and display it so that everybody knows?

[Mona Fortier, Liberal, Ottawa—Vanier, ON]

Madam Chair, we know that having a fully vaccinated workforce means that not only are work sites safer, but so too are the communities where this large population lives and works. As I said earlier, public servants have stepped up. We will continue to encourage public servants, as well as organizations and businesses across the nation, to continue to say, and to encourage their employees and their workers, that vaccines are the safest way for us to get out of this pandemic.

[Mark Gerretsen, Liberal, Kingston and the Islands, ON]

Madam Chair, to that end, as we talk about our vaccination efforts, and as we move forward, could the minister perhaps expand a bit on what it is we are expecting from this point, moving forward, and on how the reception has been from our public servants? How are they responding to mandatory vaccination more generally?

[Mona Fortier, Liberal, Ottawa—Vanier, ON]

Again, Madam Chair, I am very proud to say that public servants, as I said, have stepped up. As we continue to encourage our workforce to get vaccinated, the public servants will continue to attest that they are. We know that having a requirement about public health is working. This requirement is really working. It will help us get this pandemic over with if we all continue to get vaccinated.

[Mark Gerretsen, Liberal, Kingston and the Islands, ON]

Madam Chair, that is all the questions I have.

[Pat Kelly, Conservative, Calgary Rocky Ridge, AB]

Madam Chair, I am sharing my time with the member for Calgary Midnapore.

For the Associate Minister of Finance, how high must the Bank of Canada increase interest rates in 2022 to return inflation to its target rate?

[Randy Boissonnault, Liberal, Minister of Tourism and Associate Minister of Finance]

Madam Chair, I thank the hon. member for his question because it allows me to speak about the renewal of the Bank of Canada mandate, which happens every five years and is a very serious event indeed.

[Pat Kelly, Conservative, Calgary Rocky Ridge, AB]

Madam Chair, how high will the Bank of Canada have to increase interest rates in order to return to its inflation target?

[Randy Boissonnault, Liberal, Edmonton Centre, AB]

Madam Chair, the Bank of Canada has undertaken a very extensive review of this decision, and good discussions have been held between the government and the bank.

[Pat Kelly, Conservative, Calgary Rocky Ridge, AB]

Madam Chair, what would the effect of half a percentage point increase in the Bank of Canada's rate be on the cost to service the national debt?

[Randy Boissonnault, Liberal, Edmonton Centre, AB]

Madam Chair, monetary policy and decisions about interest rates and the money supply are the province of the Bank of Canada, which, of course, is independent.

[Pat Kelly, Conservative, Calgary Rocky Ridge, AB]

Madam Chair, that was actually a question about fiscal policy.

If the interest rate increases, what would the effect be on the cost to service the national debt?

[Randy Boissonnault, Liberal, Edmonton Centre, AB]

Madam Chair, the process to determine the mandate for the Bank of Canada is under way and announcements will be made on that in the coming days and weeks.

[Pat Kelly, Conservative, Calgary Rocky Ridge, AB]

Madam Chair, what would the effect of half a percentage point increase in interest rates be on to service the national debt?

[Randy Boissonnault, Liberal, Edmonton Centre, AB]

Madam Chair, this allows me to talk about the fact that the Canadian economy is in great recovery, with 106% of the jobs recovered. This figure is 83% in the United States.

[Pat Kelly, Conservative, Calgary Rocky Ridge, AB]

Madam Chair, what would half a percentage point increase do to the cost of servicing the national debt?

[Randy Boissonnault, Liberal, Edmonton Centre, AB]

Madam Chair, if the Conservatives want to help Canadians get through this pandemic and have an affordable future, they can support Bill C-2 to get people back on their feet.

[Pat Kelly, Conservative, Calgary Rocky Ridge, AB]

Madam Chair, if this member would like to help Canadians, he could do his job by answering questions. This is committee of the whole, not question period. There is a fine contingent of public servants here with binders and briefcases. I am sure they could help this member answer this question: What would the effect of an increase of half a percentage point be on the cost to service the national debt?

[Randy Boissonnault, Liberal, Edmonton Centre, AB]

Madam Chair, there is partisan posturing taking place here. Let us have the facts. Moody's and S&P reaffirmed Canada's AAA credit rating, and that is something we can hang our hats on.

[Pat Kelly, Conservative, Calgary Rocky Ridge, AB]

Madam Chair, what about a 1% rate increase? What would that do to the cost of servicing the national debt?

[Randy Boissonnault, Liberal, Edmonton Centre, AB]

Madam Chair, according to the S&P, the major support measures provided directly by the federal government to individuals and businesses affected by the pandemic cushioned the economic blow and will facilitate the recovery of the labour market.