House of Commons Hansard #23 of the 44th Parliament, 1st Session. (The original version is on Parliament's site.) The word of the day was housing.

Topics

Natural ResourcesOral Questions

3:10 p.m.

Green

Elizabeth May Green Saanich—Gulf Islands, BC

Mr. Speaker, I am raising a question today that involves a massive industrial expansion in Nunavut. It is the Baffinland Mary River Mine. It has proposed to double production, and it is all going to Europe. It is an iron ore mine that wants to go to 12 million tonnes of production a year, with building a railway and doubling the number of ships going through sensitive habitat for whales.

The Mittimatalik Hunters and Trappers Organization opposes it. Oceans North is very concerned. However, it appears from satellite imagery that the mine is already expanding before it gets a permit.

Can the minister assure us that this industrial expansion will not be allowed to cut corners?

Natural ResourcesOral Questions

3:10 p.m.

Labrador Newfoundland & Labrador

Liberal

Yvonne Jones LiberalParliamentary Secretary to the Minister of Natural Resources and to the Minister of Northern Affairs

Mr. Speaker, there is a process, and it is set out in the Nunavut agreement. The independent Nunavut Impact Review Board, which is known to most as NIRB, was a process that was codeveloped with Inuit and territorial partners to ensure the interests of Nunavummiut are protected. We will continue to work with the Inuit rights holders as the independent NIRB process unfolds and ensure that their interests are protected.

To prejudge the outcome of the board's recommendations or any decisions regarding this project right now would be premature and inappropriate for all parties. Both I and—

Natural ResourcesOral Questions

3:10 p.m.

Liberal

The Speaker Liberal Anthony Rota

I am afraid that is all the time we have for question period today.

Natural ResourcesOral Questions

3:10 p.m.

Bloc

Kristina Michaud Bloc Avignon—La Mitis—Matane—Matapédia, QC

Mr. Speaker, there have been consultations among the parties, and I believe you will find unanimous consent for the following motion: That the House deem the occupation in front of the parliamentary precinct in Ottawa to be illegal, that it ask GoFundMe to put all funds intended for this siege on hold, and that it call on participants to leave peacefully.

Natural ResourcesOral Questions

3:10 p.m.

Liberal

The Speaker Liberal Anthony Rota

All those opposed to the hon. member moving the motion will please say nay.

Natural ResourcesOral Questions

3:10 p.m.

Some hon. members

Nay.

Business of the HouseOral Questions

3:10 p.m.

Conservative

Gérard Deltell Conservative Louis-Saint-Laurent, QC

Mr. Speaker, this is our first Thursday back in Parliament and I am pleased to ask the traditional Thursday question.

Speaking about the week, this week has been a very busy one. Canadians recognize we have tough discussions sometimes in the House of Commons, and sometimes very harsh debates, but I am very pleased that we show respect to each other.

This week especially, Canadians have seen how much both sides of the House can be respectful to each other. We saw the Prime Minister, the Deputy Prime Minister and everybody here show a lot of respect to the hon. member for Durham and to the new interim Leader of the Opposition in the House. I respect every member who showed this dignity this week.

Since the week is almost over, now is the time to learn about the upcoming week. Could my hon. colleague tell Canadians what to expect in the days to come?

Business of the HouseOral Questions

3:10 p.m.

Ajax Ontario

Liberal

Mark Holland LiberalLeader of the Government in the House of Commons

Mr. Speaker, I echo the comments made by my hon. colleague on the other side. We fiercely disagree on many things. The debate we have is important, and dissent is important, but the way we do that is extraordinarily important. I want to echo what he said. We have been able to find a good tone in this House as we disagree with one another and fight on the issues of the day, and do it in a way that respects the roles we have as parliamentarians in this place.

For the week that is forthcoming, this afternoon and tomorrow will be dedicated to the second reading debate of Bill C-8, An Act to implement certain provisions of the economic and fiscal update tabled in Parliament on December 14, 2021 and other measures. On Monday, we are going to commence debate on Bill C-9, which seeks to amend the Judges Act. Lastly, Tuesday and Thursday shall be allotted days.

The House resumed consideration of the motion that Bill C-8, An Act to implement certain provisions of the economic and fiscal update tabled in Parliament on December 14, 2021 and other measures, be read the second time and referred to a committee.

Economic and Fiscal Update Implementation Act, 2021Government Orders

3:15 p.m.

Liberal

The Speaker Liberal Anthony Rota

Resuming debate, the hon. member for Hastings—Lennox and Addington has two minutes remaining.

Economic and Fiscal Update Implementation Act, 2021Government Orders

3:15 p.m.

Conservative

Shelby Kramp-Neuman Conservative Hastings—Lennox and Addington, ON

Mr. Speaker, I will begin my comments by acknowledging a short conversation I had with one of my colleagues in the lobby with regard to his grandson, who has just gone through a successful heart surgery. Perhaps we can give a small moment of prayer for the member for Montmagny—L'Islet—Kamouraska—Rivière-du-Loup and his grandson Oskar. He is doing well, but it is appropriate to acknowledge we have strength on both sides of the House to wish him and his family well.

There have been several challenges. We need to be ready and our goal needs to be simple. We need to be prepared and we need to take rapid actions. We need to be able to protect the health of all Canadians while avoiding long-term impacts on our economy and of course on the mental health of all Canadians.

Productivity is down and debt levels are up. I believe we are in a hot mess. The Canadian way of life is being threatened, and many people are fragile. We need to reactivate this economy. We need to have lower taxes, more freedom and smaller government and we need to regain some optimism and hope in ourselves and in our government.

I am speaking today on Bill C-8, and Conservatives strongly oppose it. Day in and day out, I hear the phone calls to my riding offices in Ivanhoe and Napanee and my office in Ottawa from Canadians of all walks of life who are exhausted and tired. We have no room for this additional spending.

Economic and Fiscal Update Implementation Act, 2021Government Orders

3:15 p.m.

Liberal

Kody Blois Liberal Kings—Hants, NS

Mr. Speaker, I apologize that I was not able to make it for all of the member's speech, because of question period.

She mentioned at the end that Canadians are exhausted and tired. I would agree. So too are the people of Ottawa, with the protests we are seeing outside right now. Although the member was not in the House in 2020, the Conservative Party was quick to call on the government for police intervention on some of the blockades that we have seen across the country. I have not yet heard that same language from the Conservative Party, nor from this member.

Would this member agree with me that it is time for the protesters to go home and for the police to use their discretion to take down the blockade of downtown Ottawa?

Economic and Fiscal Update Implementation Act, 2021Government Orders

3:15 p.m.

Conservative

Shelby Kramp-Neuman Conservative Hastings—Lennox and Addington, ON

Mr. Speaker, indeed it is a tricky situation here in Ottawa, but Canadians want to be heard. Canadians want to be heard, and by all means we oppose any of the rhetoric about the small numbers of the population that are being talked about and that the Liberals are repeating today.

Canadians want to have some freedoms. Canadians want to have their choices. Canadians want to go ahead and live their lives with dignity. Canadians want to use all the tools we have in our tool boxes. We need to have the rapid tests, we need to wear our masks and we need to have social distancing, if that is what we choose. I am not encouraging or acknowledging this, but we need to move forward.

Economic and Fiscal Update Implementation Act, 2021Government Orders

3:15 p.m.

Conservative

Luc Berthold Conservative Mégantic—L'Érable, QC

Mr. Speaker, I congratulate my colleague on her excellent speech.

I would like to hear her thoughts on inflation, which must certainly be affecting families, fathers and mothers, in her riding who are forced to make difficult decisions to feed their families. Should the government have intervened? How long should the government let inflation keep rising before it does something?

Economic and Fiscal Update Implementation Act, 2021Government Orders

3:15 p.m.

Conservative

Shelby Kramp-Neuman Conservative Hastings—Lennox and Addington, ON

Mr. Speaker, I thank my colleague for his question. I think I will answer in English today and in French tomorrow.

There is no doubt that inflation is hitting Canadians day in and day out. It does not matter whether they are at the gas station or going for groceries; it is in all walks of life.

The emails from seniors are really sad. I have seniors who are sending me emails saying they do not know whether they are able to pay for their medication. There are children who are talking to their parents at home, learning about how money is being spent, and there is not enough at the end of the day. Bills are all over the table and piling up, and families are needing to choose which ones they are going to pay. The interest rates that are being charged are just outlandish.

Economic and Fiscal Update Implementation Act, 2021Government Orders

3:20 p.m.

Liberal

Ken Hardie Liberal Fleetwood—Port Kells, BC

Mr. Speaker, the Conservatives oppose this bill. Do they oppose better ventilation for schools? Do they oppose more COVID tests? Do they approve improving the number of weeks of EI that workers are capable of getting? Do they approve of more relief for the businesses that took advantage of the Canada emergency business account?

These are all seemingly pretty important things, particularly as we hopefully near the end of worst part of the pandemic. Do the Conservatives really oppose those measures?

Economic and Fiscal Update Implementation Act, 2021Government Orders

3:20 p.m.

Conservative

Shelby Kramp-Neuman Conservative Hastings—Lennox and Addington, ON

Mr. Speaker, do the Liberals really approve of the inflation rates that Canadians are facing today?

With regard to some of the elements of the bill. I can acknowledge that as with anything, there is room for agreement and respectful disagreement across the aisle. There are parts of the bill that I would suggest are good, and I have no difficulty saying that. I think there needs to be room where we can have dialogue and agreement across the floor, but I will leave it at that.

Economic and Fiscal Update Implementation Act, 2021Government Orders

3:20 p.m.

Conservative

Ryan Williams Conservative Bay of Quinte, ON

Mr. Speaker, we only have to listen to the constant sound of horns outside of Parliament to hear the siren of Canadian voices discontent with the state of our country. Meeting to have an open conversation with truckers and now farmers is not a sign of defeat or concession, as the government tries to make it appear. It may be the only way to end this protest and send our truckers home. It is a sign of leadership. It is the job we all signed up to as parliamentarians. We are the representatives of everyone in our riding, not just those who voted for us, not just those we agree with, but everyone.

Canadians need hope. They want to know that the sacrifices they have made for their businesses, their families, their friends and their fellow Canadians by stepping up to get vaccines and boosters mean that they will see the light at the end of the tunnel. Canadians see where other nations are, and they see the hope that is coming from within them. The U.K. has lifted all restrictions from COVID-19. The Americans had full stadiums as they watched some exciting football for the AFC and the NFC championships last weekend. Go, Rams.

Canadians heard the health minister muse about seeing it coming with regard to a mandatory vaccine mandate on January 7, and when Quebec announced an anti-vax tax, the Prime Minister said that it could work. Vaccines are the best tool for fighting COVID-19, but we must use hope, not fear. The over 85% of Canadians who have made the choice on their own accord to get vaccinated want to know that there is hope and not fear as we end a pandemic and enter an endemic.

Part of that is Canada's ability to develop vaccines to contribute to COVAX and provide alternatives for the vaccine-hesitant. Quebec has two vaccine facilities that could provide these options. Both Medicago and Novavax, a plant-based vaccine and a protein-based vaccine, could provide Canadian jobs and help us meet promised COVAX goals, as we have only met a quarter of those, and help vaccinate the vaccine-hesitant here at home and the vaccine-starved across the globe. However, the government has not yet been able to see approval of these vaccines, both of which submitted applications for approval in early 2021, and Canada has yet to produce a vaccine through this pandemic.

Instead of acquiring vaccines and rapid testing in a timely manner, or approving vaccines that would help get the world vaccinated to help quell COVID-19, the government response has been consistently to dither and spend money it does not have. As our debt is now reaching a jaw-dropping $1.2 trillion, the desire to spend our way out of the pandemic has led to some far-reaching results for our country: a housing crisis that is the worst in the world; an inflation level that is the highest it has been in 30 years; and the largest increase in poverty and inequality in this country in 20 years. The government's continued fantasy of spending to end the pandemic has not worked yet, and it will not work now.

We need real solutions to solve our crises. Government needs to work on listening to Canadians, reducing red tape and allowing the Canadian economy and Canadian innovators to be unleashed as this pandemic becomes an endemic, instead of its failed spend-to-oblivian policies.

Housing is a crisis, an existential crisis that requires massive ambition and innovation to solve, working with all levels of government. Working with the housing industry, we can help lead and find solutions now. We have over 200,000 skilled workers who are in limbo with Canadian immigration, which includes skilled trades that could start building homes today.

The immigration minister acknowledged this week that the shortage of skilled workers is in flux and that he does not know when it will be open again, maybe at the end of 2022. However, we need $85 million, again more money, to fix it. Meanwhile, Canadian trades are screaming for more people to build homes and are not building them because of the lack of labour. This is an issue that could have been fixed years ago. Now with the housing crisis, it is only adding more fuel to the house fire that is our housing market.

The Conservative plan to use 15% of existing vacant government buildings for housing would have meant that trades could build units of housing today, not in the 10 years that it takes Toronto to build a high-rise now. Working with provinces in declaring a crisis on housing, we could start to massively contribute to an economic boom that would create jobs and create homes.

More important, we in the Conservative Party believe that if we are going to add more debt to the Canadian public, it should be on investments that better this country, including our health care.

For Bill C-8, our opposition is that, if we are going to spend $70 billion, then why not spend it on health care to increase health care capacity in our ICUs and our hospitals? Some of our provinces were locked down and businesses were closed completely because of the lack of staffed health care capacity in this country.

Looking at hospital beds per capita in the most developed nations in the world, Canada was behind 37, including being dead last in the G7. As a matter of fact, Japan, Korea and Germany have four to six times the number of staffed beds per capita than Canada does. In the Conservative platform, we had dedicated $60 billion, if we are talking about money, to new health care transfer spending to increase health care capacity.

If we are going to spend money, whether that be for Bill C-2 or Bill C-8, would it not be better for all Canadians if, instead of money being provide to businesses that are shut down, that money were to be used to prevent the economy from being shut down?

This bill is no different. This $70 billion needs to be spent now in health care transfers to increase both health care and ICU capacity, and to increase the number of health care professionals that we are desperately missing in our regions. We need health care professionals, nurse practitioners and nurses, and we need doctors. In Bay of Quinte, we are short over 30 doctors. That means that residents who need primary health care are going to the ER. Canada is short over 70,000 nurses.

Spending $70 billion more of taxpayer dollars without that money being invested into health care first and foremost is a travesty because it will add to the growing inflation that is plaguing this country. It would also not take care of the problems causing more lockdowns in the country and more angry Canadians desperately looking for the government to listen to them.

If we are going to fix inflation and the housing crisis, if we are going to listen to angry Canadians, we must fix those issues that are plaguing them, and we need to fix them now. Spending more money we do not have would fuel our already mammoth inflation, our housing crisis and the growing inequality in Canada without fixing the problems that would help Canadians get through the dark tunnel of this pandemic into the light that would be living with an endemic and getting lives back to normal.

Economic and Fiscal Update Implementation Act, 2021Government Orders

3:30 p.m.

Winnipeg North Manitoba

Liberal

Kevin Lamoureux LiberalParliamentary Secretary to the Leader of the Government in the House of Commons

Madam Speaker, the member is not being consistent. On the one hand he is saying to cut back and stop the spending. He opposes the legislation because it involves spending money.

On the other hand, he is saying that we should spend more money on health care transfers, even though this government has sent record amounts in health care transfers. Not only that, but we are also dealing with mental health and many other issues in health care. In this bill, there is $1.72 billion being allocated to purchase rapid testing and equipment such as that. If we did not spend the money, those tests would not be there. Then it would have to be the provinces to come up with it.

Does the member not support the financial expenditures that are targeted in Bill C-8?

Economic and Fiscal Update Implementation Act, 2021Government Orders

3:30 p.m.

Conservative

Ryan Williams Conservative Bay of Quinte, ON

Madam Speaker, I support the spending that needs to happen to increase our health care now, and I supported rapid testing a year and a half ago when we asked for it and did not get it.

We had residents lined up for rapid testing because there were no rapid tests. Now that they are saying they are going to fix it, we do not need it. We need health care fixed. Let us put money towards health care, and fix our problems in health care.

Economic and Fiscal Update Implementation Act, 2021Government Orders

3:30 p.m.

Bloc

Sébastien Lemire Bloc Abitibi—Témiscamingue, QC

Madam Speaker, I was touched by your statement this week and I want to offer my condolences.

I have a question for the Parliamentary Secretary to the Leader of the Government on the other side of the House. I would like to know who ultimately makes health care expenditures. Do the provinces spend the money or is it the federal government?

Is it not an indication of some kind of structural problem when the federal government holds on to money from Quebeckers and Canadians and sets conditions on that money, interfering in provincial jurisdictions?

Would it not make sense to solve this problem once and for all by transferring the money to the provinces without conditions?

Economic and Fiscal Update Implementation Act, 2021Government Orders

3:30 p.m.

Conservative

Ryan Williams Conservative Bay of Quinte, ON

Madam Speaker, we all agree that the provinces want just as much as the federal government, and it sometimes thinks it just grows on trees.

I know the federal government has to be responsible for what it is putting its money towards. I understand the provinces will decide where it wants that money. If we put money towards federal transfers for health care capacity, and we as the federal government could always track that capacity, then we would be fixing the problem once and for all with not just beds, but staffed beds. We need staff and we need beds. We need to work with the provinces to make that happen.

Economic and Fiscal Update Implementation Act, 2021Government Orders

3:30 p.m.

NDP

Don Davies NDP Vancouver Kingsway, BC

Madam Speaker, picking up on my hon. colleague's comments, he is absolutely right. Among OECD countries, Canada's ICU beds per capita is less than everyone but Mexico. We are 26 out of 27 in terms of number of doctors per thousand. Among developed countries, we rank tenth out of 10 in terms of wait times. Of course, the reason for this is that in 2014 the Harper Conservatives capped the federal health transfer at 3% when health care costs are rising at 5%. The current government said it would change that, but then it adopted the Harper cuts.

Will my hon. colleague finally acknowledge that part of the problem today is the Conservative and Liberal cuts to health care that kept federal transfers at 3%, and does he agree with the NDP that it is time to raise it so that we can start properly funding the health care system in this country?

Economic and Fiscal Update Implementation Act, 2021Government Orders

3:30 p.m.

Conservative

Ryan Williams Conservative Bay of Quinte, ON

Madam Speaker, a kid in kindergarten pushed me, and I do not hold a grudge against him as that happened 20 or 30 years ago. We have to focus on today. I am not sure about the Harper government. I was not here, but I love when Stephen Harper's name is brought up because he was a great prime minister.

We have to look at health care and health care means looking at ICU capacity. It means looking at staff. It means looking at nurse practitioners and doctors. I know my hon colleagues on the health committee are going to be studying that. I look forward to those results. Let us get those to the House and let us get those passed so that Canadians can benefit from better health care.

Economic and Fiscal Update Implementation Act, 2021Government Orders

3:30 p.m.

Liberal

Taleeb Noormohamed Liberal Vancouver Granville, BC

Madam Speaker, I appreciate the opportunity to speak today to Bill C-8, an act to implement certain provisions of the economic and fiscal update tabled in Parliament on December 14, 2021 and other measures.

The economic and fiscal update is a transparent report of our nation's finances, but it is about making sure that we have the tools we need to protect Canadians and keep our economy growing. It is about prudence, not austerity, and intelligent investment, not a blank cheque. It would set the stage for us to build on the supports and investments that are bolstering our economy and ensuring its growth for the long term. This means making generational investments in our recovery, such as early learning and child care, so kids in Vancouver Granville and across Canada can get the best start in life. It also means making sure parents, most often women, do not have to make the difficult decision between taking care of their kids or returning to work, adding their immense talent and skill to contribute to Canada's economy.

According to RBC, closing the women's participation rate gap would add another 1.2 million people to the labour force at a time we desperately need workers to fill the almost one million jobs across Canada. It means investing in affordable housing and in a green transition. We all know full well that a green transition of our global economy is well under way. It represents a great economic opportunity to create good, sustainable jobs across Canada for generations to come. It means supporting the technology sector, the world from which I came, so that we can be a global leader in innovation and in building the economy of the future today.

This is not just about spending, but about creating conditions for future growth, fighting climate change by building a greener economy and ensuring that indigenous communities are included in every conversation about the innovation economy. Fostering diversity and inclusion are not just the right things to do for the fabric of the country, they are also the right thing to do to build a more prosperous future. By ensuring an economy that includes all of us, we access a wider range of experiences, perspectives and skills that would increase global competitiveness, support the long-term success of Canadian communities, rural and urban, and allow us to leverage best in class Canadian expertise on the world stage.

As we emerge from these moments of uncertainty, our priority must be on economic stability and long-term growth. The choices we make now will lay the foundation for the future that we will be leaving to our kids. I am proud of the work this government has done to keep us moving forward since 2015, no matter what challenges we have faced as a country.

We have also heard a lot about the pandemic's impact on our supply chains. That is why our government announced a call for proposals under the national trade corridors fund, which has allocated up to $50 million to support projects designed to eliminate supply chain congestion.

We know good transportation infrastructure and efficient trade corridors are crucial to Canadian businesses' success in the global market.

Many predicted it would take years to rebuild our economy from the wounds of the pandemic, but look at us now. We are poised for robust growth in the months to come, growth that will help us pay down the debt and reduce the deficit. We can already see the results of the work that has been done. The December labour force survey from Statistics Canada showed that our labour market gained 55,000 jobs and our unemployment rate dropped to 5.9%, its lowest since the start of the pandemic. Thanks to the resilience of Canadians, we have well surpassed our target of recovering one million jobs.

Our plan is working. As we continue to meet the challenges of COVID-19, we are staying the course, focused on climate change, advancing reconciliation with indigenous peoples and building an economy that is stronger, fairer, more prosperous and sustainable for the long term.

Let me talk about specifics. I spent a large part of my life in the tech sector building small companies into larger ones and taking intelligent managed risks knowing that I have accountability to my employees and investors. Like many business owners and entrepreneurs, I had to think about long-term growth and building resilience for rainy days, and often we have to borrow to invest in growth. That is what this government has done for Canadians during the pandemic. Now it is time to build on the remarkable return on that investment.

This pandemic, as we all know, has not been just a rainy day. This is a once-in-a-generation black swan event, a global crisis. That is why in Bill C-8 the Canada emergency business account is such an integral and important measure. The CEBA is one of the key government supports that local businesses have relied on to weather the darkest days of this pandemic. As we all know, the CEBA provides interest-free, partially forgivable loans of up to $60,000 to small businesses to help cover their operating costs during difficult times.

Let me put that into perspective. We all know that small businesses in each of our ridings are the backbone of our economy. My constituency office is in the neighbourhood of South Granville, a vibrant neighbourhood where the streets are lined with small businesses, mom-and-pop shops, restaurants, sidewalk cafes, bookstores and gift shops, all of which build and contribute to thriving communities. They employ our neighbours. They help families pay their rent and mortgages. Without government support, many of these pillars of our community would be out of business today.

Because of the Canada emergency business account, nearly 900,000 small businesses have been able to keep their doors open. Eligible businesses have accessed nearly $49 billion in federal support, and because many small businesses continue to face pandemic-related challenges, in January of this year our government extended the repayment deadline for loans, to qualify for partial loan forgiveness, to the end of 2023. This extension will support short-term economic recovery and offer greater repayment flexibility. Bill C-8 would give folks six years to pay off their CEBA loan, ensuring that loan-holders are provided consistent and fair treatment no matter where they live.

Bill C-8 would also deliver financial support to our Canadian farmers, who never stopped working to keep food on our tables, through the challenges posed by COVID-19 and beyond. Canadian farmers, like Mickey and her family, with whom I had the pleasure of meeting yesterday, have demonstrated great resilience, stepping up to deliver despite their own challenges. They have done their part in shoring up our food supply by investing in greener, more sustainable farms. With Bill C-8, we would be giving them a well-deserved hand while continuing to help meet our national climate change objectives.

The new measures in Bill C-8 would build on the significant support for businesses that became law with the passage of Bill C-2 in December. With Bill C-2, our government made sure that the economic supports needed for businesses would still be available, if and when needed. With the reality that provincial health restrictions remain in effect in certain regions across this country, we know that businesses continue to suffer and face challenges. Applications are now open for the local lockdown program, which provides wage and rent subsidy support of up to 75% for employers who have had to reduce the capacity of their main business by at least 50%. To expand access to the program, we have temporarily lowered the revenue decline threshold for eligibility from 40% to 25% through to mid-February. For businesses facing other pandemic-related losses, support is also now available through the tourism and hospitality program and the hardest-hit business recovery program.

By supporting businesses through these challenges, these programs are protecting people's jobs and allowing people to stay connected to their employers. As the Deputy Prime Minister and Minister of Finance has said, this keeps people strong, it keeps families strong and it keeps businesses strong. That is what we need to keep our economy strong.

As we emerge from the pandemic, our national focus must be jobs and growth. This means attracting top international talent and more immigrants and temporary foreign workers to help Canada meet long- and short-term labour market needs.

We have heard a lot about labour shortages recently, but our Canadian economy continues to grow. We have now surpassed our target of creating one million jobs. In fact, in December, as I said, we recovered 108% of the jobs lost at the peak of the pandemic. Immigration is a big part of the engine of our economy. It helps address labour shortages and strengthens our communities. Not only are immigrants essential to Canada's economy, but they also bring fresh perspectives and connect Canada to the world. In short, immigration bolsters our economic future and connects us to the world.

The good news is that the fall economic statement allocated $85 million to help unlock access to Canada. This targeted investment will reduce processing times in key areas affected by pandemic-related delays. Ensuring Canada's immigration system is well positioned to meet Canada's economic and labour force goals is essential to our future success.

As I said earlier, our long-term strategy of prudence, not austerity, and intelligent investment, not a blank cheque, is the best path forward for success. To bring this to life, we must lean into our clear vision and use public policy levers to make Canada a global leader in technology and innovation. For Canada to lead on the global stage, we must ensure that we create the conditions necessary for that to happen. That is exactly what we are doing. When we implement new approaches, Canadian innovators, businesses and non-profits respond. Building an innovation economy means thinking about where we want to go, not where we are today. It is clear that Bill C-8 is the next essential step in keeping Canadians and our economy strong, while setting the stage for long-term economic prosperity.

The record is clear. Our government delivered unprecedented support in order to keep Canadian families and businesses solvent throughout the pandemic, and investment in our economy has continued and will continue to pay off. The plan is working. Our GDP has returned to prepandemic levels, and both Moody's and S&P have reaffirmed Canada's AAA credit rating. We came into this crisis with the lowest net debt-to-GDP ratio in the G7, and we have increased our relative advantage throughout the pandemic.

The measures contained in Bill C-8 are fundamental to supporting Canadians and Canadian businesses, and the provinces and territories, as they continue to battle COVID-19. They need the support to get through the fight and come out stronger, and they are counting on it. They are counting on us. I encourage my hon. colleagues to bear this in mind in their consideration of this essential bill, and join me in supporting its expeditious passage through the House so that Canadians can get the help they need at the time they need it.

I am thankful for this opportunity to make this case.