Debates of June 17th, 2022

The Economy

[Rachel Bendayan, Liberal, Parliamentary Secretary to the Minister of Tourism and Associate Minister of Finance]

Madam Speaker, yesterday, the Minister of Finance did give a speech on Bay Street in order to explain to Canadians how we have their backs in this time of unprecedented volatility on a global scale.

In fact, she detailed a five-point plan that is going to help Canadians deal with the inflationary crisis that we are seeing right around the world. We have an affordability plan that is putting money directly back into the pockets of Canadians. What the NDP is proposing is tax hikes on grocery stores, which could only lead to increased prices for groceries—

[The Assistant Deputy Speaker, NDP, Carol Hughes]

The hon. member for Elmwood—Transcona.

[Daniel Blaikie, NDP, Elmwood—Transcona, MB]

Madam Speaker, in her speech at the Empire Club this week, the Deputy Prime Minister treated inflation like it was a public relations problem for the government rather than the very real financial issue that it is for so many Canadians.

As she was speaking, new mothers on employment insurance and others depending on EI were having their EI payments garnished to pay debt back to the government while they were trying to keep their homes. It is the wrong approach. We did not hear anything new in the speech yesterday.

I am hoping we are soon going to hear that the government will bring into force a low-income CERB repayment amnesty and a freeze on payments for middle-class Canadians who are struggling to keep their homes in this time of inflation. When are we going to hear that?

[Rachel Bendayan, Liberal, Parliamentary Secretary to the Minister of Tourism and Associate Minister of Finance]

Madam Speaker, I would like to thank the finance critic for the NDP for his question and for his work on the finance committee.

I would point out that yesterday's plan announced by our Minister of Finance included many supports that Canadians would feel for the first time this year. For a couple in Ontario with an income of $45,000 and a child in day care, our plan could mean an additional $7,350 this year, above existing benefits. This is real money going back into the pockets of real Canadians.

[Michael Barrett, Conservative, Leeds—Grenville—Thousand Islands and Rideau Lakes, ON]

Madam Speaker, Canadians are struggling and looking for relief, but instead, they are getting skyrocketing costs, unaffordable groceries and toonie-a-litre gas. It is because of the Liberals' reckless spending and double dipping with taxes on top of taxes that Canadians are barely making it to the end of the month. Just like George Costanza, these Liberals will keep dipping as they see fit. It is disgusting.

When will the Liberals stop double dipping in Canadians' pockets and give us some relief?

[Rachel Bendayan, Liberal, Parliamentary Secretary to the Minister of Tourism and Associate Minister of Finance]

Madam Speaker, the Conservatives are making jokes about a very serious situation. Maybe the hon. member saw what happened this week with cryptocurrency. That is the type of economic policy that is coming from the Conservative Party these days. Do the Conservatives not agree that a 50% reduction in child care this year is real savings for Canadian families? Do they not believe that $2,400 in the pockets of a family of three through the Canada workers benefit is real money in the pockets of Canadian workers? They should know that. They voted against all of these measures.

[The Assistant Deputy Speaker, NDP, Carol Hughes]

There is a lot of chatting back and forth here. I would ask, if members are not being recognized for questions or answers, that they hold on to their thoughts.

The hon. member for Leeds—Grenville—Thousand Islands and Rideau Lakes.

[Michael Barrett, Conservative, Leeds—Grenville—Thousand Islands and Rideau Lakes, ON]

Madam Speaker, the parliamentary secretary talks about jokes. What is a joke is that yesterday, the minister stood in the House when I talked about rising costs and talked about history with things that happened 10 years ago, when it was her government and the minister's department that approved $93,000 in champagne and caviar for government officials, while Canadians cannot afford to heat their homes or feed their families. It is a failed approach that they have doubled down on time and again. If anyone is laughing, we cannot hear them because the joke is on that side of the House. It might come as a surprise to them, but just like budgets, gas prices and grocery bills will not balance themselves.

Will the Liberals cut taxes for Canadians?

[Rachel Bendayan, Liberal, Parliamentary Secretary to the Minister of Tourism and Associate Minister of Finance]

Madam Speaker, we did cut taxes for Canadians and the Conservatives voted against it. Thank goodness there was other support in the House to ensure that Canadians would see a reduction in their taxes. When it comes to supporting Canadians, we will continue to put in place the measures that put money directly back into the pockets of Canadians. I am thinking of a one-time payment for all Canadians having trouble finding low-income housing that is coming into effect this year. We also have a reduction in child care costs of up to 50% this year. That is real money going back into the pockets of real Canadians.

[Dan Albas, Conservative, Central Okanagan—Similkameen—Nicola, BC]

Madam Speaker, ABS: When buying a vehicle, ABS stands for automatic braking system. When a vehicle senses an impending danger, it brakes immediately. Canadians have no such braking system when it comes to our finances. In fact, we have the opposite. The finance minister has a different take on ABS. It is “always be spending”.

Will she order an immediate pause to all discretionary spending to fight inflation, or does the Liberals' blood pact with the NDP forbid any of that?

[Rachel Bendayan, Liberal, Parliamentary Secretary to the Minister of Tourism and Associate Minister of Finance]

Madam Speaker, the Conservatives are changing their tone by the day. Yesterday, the member was accusing us of not spending more money in order to support Canadians, and today he is saying that we are spending too much. Which is it? What we have done is ensure that over the course of the past several months and years, our budgetary planning would ensure that we would be there for Canadians. That—

[Some hon. members]

Oh, oh!

[The Assistant Deputy Speaker, NDP, Carol Hughes]

Order. I am sure the hon. members of the opposition party would want to hear the answer. There is going back and forth on both sides. I am sure everyone would like to hear what the hon. parliamentary secretary is saying, as they may have a follow-up question.

The hon. parliamentary secretary can restart her answer.

[Rachel Bendayan, Liberal, Outremont, QC]

Madam Speaker, as I was saying, the Conservatives are changing their story by the day. Yesterday, the hon. member was accusing our government of not adding new spending into the economy in order to support Canadians. Today, he is saying we are spending too much. In fact, Moody's, S&P and all of the credit agencies have reconfirmed our AAA credit rating. The spending that the minister put forward yesterday was included in our fiscal framework. We are there for Canadians while ensuring we do not add fuel to the fire and continue the inflationary spiral.

[Dan Albas, Conservative, Central Okanagan—Similkameen—Nicola, BC]

Madam Speaker, the member is just plain wrong, and I see where she gets it from. The Minister of Finance has gotten inflation wrong at every turn. She said deflation was the concern; that was wrong. Then she said it was transitory; that was wrong. Now she has a so-called affordability plan that only includes more spending.

Stephen Gordon is an economist at Laval. He has said that now is not the time for increased spending as it only pours fuel on the inflationary fire. Instead, she can reduce discretionary spending, stop the Morneau escalator on user fees and give Canadians a break at the pumps.

Will the minister listen to Conservatives and start fighting inflation, or does she, just like her Prime Minister, love spending too much?

[Rachel Bendayan, Liberal, Parliamentary Secretary to the Minister of Tourism and Associate Minister of Finance]

Madam Speaker, all of the experts agree that what we have presented is a very fiscally responsible budget in April. S&P and Moody's have reconfirmed our AAA credit rating. Our debt-to-GDP ratio continues to consistently go down. Our economic forecast is absolutely incredible. Experts are predicting that this year and next year Canada will have the highest and fastest growth among G7 countries. We will continue to create jobs and ensure strong economic growth.

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

Madam Speaker, when asked why the government will not temporarily remove GST from gasoline to help offset the high cost of fuel, the government claimed that there was no evidence that removing a tax at the point of sale would reduce prices. Liberals even called the suggestion a subsidy for industry.

Is the government so economically illiterate that it actually thinks that removing a tax on consumers is an industry subsidy?

[Rachel Bendayan, Liberal, Parliamentary Secretary to the Minister of Tourism and Associate Minister of Finance]

Madam Speaker, the way the GST is administered in this country is that we impose it on the company, in this case the oil company, and it passes it on to consumers. What I have been explaining is that there is no certainty that oil companies will pass those savings directly—

[An hon. member]

Oh, oh!

[Rachel Bendayan, Liberal, Parliamentary Secretary to the Minister of Tourism and Associate Minister of Finance]

I apologize.

[The Assistant Deputy Speaker, NDP, Carol Hughes]

Again, I would just ask members to keep whatever they have to think about in their head until it is time for them to ask a question. I do not think that the comment was very respectful at all. I appreciate the hon. member saying that he is sorry, but again, I would remind members to maybe just hold on to their thoughts and comments until it is their turn to ask a question.

The hon. parliamentary secretary.

[Rachel Bendayan, Liberal, Outremont, QC]

Madam Speaker, I would just say that so far, all the Conservatives have been proposing when it comes to economic policy is either a tax cut for oil companies or elimination of certain tariffs we have imposed on Russia. This is not serious economic policy. What we have proposed is.

[Some hon. members]

Oh, oh!

[The Assistant Deputy Speaker, NDP, Carol Hughes]

Again, l think others are trying to weigh in on the response and I would ask them to wait.

The hon. member for Charleswood—St. James—Assiniboia—Headingley.

[Marty Morantz, Conservative, Charleswood—St. James—Assiniboia—Headingley, MB]

Madam Speaker, gas prices, food prices, home prices, what do they all have in common? They are all going up, way up. What else is going way up? It is government revenues from the massive taxes it collects on those things. While the Liberal cabinet is flush with cash, kitchen cabinets are looking pretty bare.

Will the Prime Minister finally wake up, have just a little compassion for those who are struggling and give Canadians a tax break so they can at least afford to put food on the table?