Mr. Speaker, it is an honour to rise this morning to offer some reflections with respect to Bill C-8.
I would like to start with some points I appreciate in this bill. Specifically, I think we can all agree that, in the midst of a pandemic, adding more ventilation and more supports is a good thing. In this bill is $100 million to improve ventilation in schools. There is also a refundable tax credit on taxes payable for up to 25% of ventilation expenses for small businesses.
In addition, I really appreciate that the bill includes $1.72 billion for provinces to allocate rapid tests to expand school and workplace testing. In the Waterloo region, for example, the Cambridge Chamber of Commerce shared last month that it was short on 200,000 rapid tests. This is the kind of support I know businesses in my community will really appreciate.
When it comes to housing, house prices in Kitchener went up 35% last year alone. In 2005, the average house price was around three times the median income. In the last year, it rose to 8.7 times the median income. There is no doubt that house prices are skyrocketing out of control. Young people are concerned they might not ever be able to purchase homes of their own. Seniors on fixed incomes in my community are anxious about whether they will be able to stay. I spoke to a nurse last summer who shared that her rent is going up too, and she wondered if she would be able to stay in our community at all.
We need policies that address this crisis head-on. Homes should be for people to live in, and not commodities for investors to trade. One of the problems we have in this crisis is the number of vacant homes across the country. A recent study showed that 1.34 million homes across the country are sitting empty because speculators bought them with no interest in ever living there. They were simply speculating on the value. That is 8.7% of the housing stock. At our current rate of construction, it would take us six years to build the housing supply we already have in vacant homes.
Now, we have solutions that work. For example, Vancouver has gradually raised its empty homes tax to 3%. In doing so, it has reduced the number of vacant homes by 25%. It has added at least 18,000 units back onto the market, and generated tens of millions of dollars in revenue for new, affordable housing.
If we turn back to this bill, there is what is called an underused housing tax. It is set at 1%. For speculators who are earning returns well over 8%, my concern is that this level will not meaningfully discourage the speculation from investors we are currently seeing in the market. Not only that, but almost everyone is exempt from this tax. Canadians are exempt. Permanent residents are exempt. Every corporation is exempt. It applies only to a small fraction of non-resident, non-Canadian-owned vacant homes.
It feels to me like we all know the house is on fire and someone has called the fire service, but the fire service arrived with a bucket of water. I wonder why the governing party will not move more quickly to bring on the variety of tools we know we need to address this crisis, such as new investments in non-market public subsidized housing and co-op housing.
I noticed that there was a promise in the platform of the governing party to consider introducing an end to the blind bidding process. There are so many tools we can and should consider, and I strongly encourage the governing party to look into doing so.
If the Liberals are serious about addressing the housing crisis and they are looking to set the priorities, I would encourage them to at least look at the tax in this bill to consider if we could be more serious about ensuring that this is a tool that would address the reality of the crisis we are facing across the country. Certainly in Kitchener, it is hitting home across our community.
I am also disappointed that there were two other opportunities in Bill C-8 that were not addressed. I would like to bring those forward here.
The first is with respect to the crisis in long-term care. This past summer I spoke with a woman whose mom had been waiting in a hospital for three months. She was in tears as she shared with me that she wondered if her mom would make it to long-term care before she passed.
She was one of 52,000 people on the wait-list, as of this past summer, for a spot in long-term care. The solutions are self-evident. Last year, the former MP for Nanaimo—Ladysmith, Paul Manly, introduced Motion No. 77. That motion offered a number of potential solutions, including national standards for long-term care and an end to for-profit care; ensuring that personal support workers were not providing four minutes of care a day, but four hours of care a day; eliminating the wait times altogether, and ensuring adequate pay so that PSWs would not have to run from one care home to the other in the gig economy.
Thankfully, the Parliamentary Budget Officer costed the plan out. The good news is that for less money than we currently offer to oil and gas companies every year, $18 billion, we could be taking better care of our seniors.
Finally, another disappointment for me that I would encourage the governing party to consider prioritizing, if not in this bill than in another, the introduction of a national pharmacare program. We have been hearing promises about pharmacare since 1997. It has been 25 years.
This past summer, I spoke with a woman who shared with me that, given the cost of her medications, she needed to intentionally take less than she required every day so that her medications might last longer. This is in a country where we claim to be proud of truly universal health care. Obviously that is not the case.
Because we have had this many years of study, we know that currently Canadians are spending $24 billion a year on pharmaceuticals. We also know that we would save money by having a national program. Not only is it more compassionate and a moral imperative, but economically, we would collectively save $4 billion a year by introducing a national pharmacare program.
I would encourage the governing party, and all parliamentarians, to continue to advocate for Canadians across the country who deserve access to truly universal health care. One element of that is ensuring we have a national pharmacare program.
In closing, there are elements of good propositions in this bill. I am glad for those, specifically around rapid tests. Those will really help in my community.
However, if we are going to be serious about the housing crisis, and we are going to follow through on promises that have been made over many years, I would encourage all parliamentarians to continue not only to advocate for improvements in long-term care and a national pharmacare program, but also to meaningfully address the housing crisis that we find ourselves in.