Debates of Oct. 16th, 2023

Foreign Affairs

[Chrystia Freeland, Liberal, Deputy Prime Minister and Minister of Finance]

Mr. Speaker, given that this is the first time we are all present in this House since these horrific terrorist attacks by Hamas, let me begin by saying that Canada stands in solidarity with the State of Israel and the Israeli people, and that Canada stands shoulder to shoulder with Israel and the Israeli people. They can count on Canada's continued support.

We call for the immediate release of all hostages and unequivocally condemn Hamas' terrorist attacks.

[Pierre Poilievre, Conservative, Leader of the Opposition]

Mr. Speaker, innocent lives, be they Palestinian, Israeli, Jewish, Muslim, Christian or otherwise, are all equally precious. Countless innocent lives have been lost or put in danger as a direct result of the sadistic attacks of Hamas. That was the purpose of those attacks: to exact maximum damage on both Israelis and Palestinians and to thwart any attempt for peace. We know that the regime in Iran was behind these attacks, and we know that the most powerful organizer of terrorism in the world is the IRGC, which operates legally in Canada today.

Will the government accept the common-sense Conservative bill to criminalize the IRGC in Canada?

[Chrystia Freeland, Liberal, Deputy Prime Minister and Minister of Finance]

Mr. Speaker, this is the first time we have all been present in this House since these horrific terrorist attacks by Hamas on the state of Israel and the Israeli people, so I would like to begin by being very clear: Canada stands with the State of Israel and with the Israeli people. Israel can count on Canada's support. Canada unequivocally condemns Hamas' terrorist attacks, and we call for the immediate release of all hostages.

Finance

[Pierre Poilievre, Conservative, Leader of the Opposition]

Mr. Speaker, last fall, the finance minister promised a balanced budget within six years. Last spring, she broke that promise and said that we would never have a balanced budget. Last week, the Parliamentary Budget Officer revealed that her deficit is now 15% bigger than she said it was only six months ago.

Has the government totally lost control of our debt? How much is this inflationary spending going to add to the interest rates Canadians pay on their mega mortgages?

[Chrystia Freeland, Liberal, Deputy Prime Minister and Minister of Finance]

Mr. Speaker, our government will be providing an update on our debt and deficit figures and on our revenues in the fall economic statement in due course.

When it comes to Canada's fiscal position, let me be very clear: Canadians should listen to the independent ratings agencies whose job it is to evaluate Canada's position and not the partisan talking-Canada-down attacks of the opposition. Canada's AAA rating has been reaffirmed by ratings agencies since the budget. We are fiscally strong.

[Pierre Poilievre, Conservative, Leader of the Opposition]

Mr. Speaker, apparently former Liberal finance minister John Manley is just a partisan using talking points when he says that the government's inflationary deficits are like pressing on the inflationary gas pedal and forcing the Bank of Canada to press on the brakes with higher interest rates. Canadian families have the highest debt load of families from any country in the G7, and those debts are colliding with the rates the government is driving up.

Will the finance minister cancel the inflationary deficits and balance the budget to bring down interest rates and inflation, or will she admit that she is just not worth the cost?

[Chrystia Freeland, Liberal, Deputy Prime Minister and Minister of Finance]

Mr. Speaker, let me again bring some independent, non-partisan facts to this conversation. It is the job of the ratings agencies to determine the sustainability of every country's fiscal position, and ratings agencies have reaffirmed Canada's AAA rating. Why did they do that? It is because we have the lowest deficit and the lowest debt-to-GDP ratio in the G7.

We believe in fiscal responsibility, and the numbers show it.

Housing

[Pierre Poilievre, Conservative, Leader of the Opposition]

Mr. Speaker, the independent, non-partisan voice that I am interested in is that of the shipyard worker in Vancouver, who told me that his mortgage payment has now risen to $7,500 a month. That is for a shipyard worker and a middle-class family. That proves that the Prime Minister, after eight years, is not worth the cost of mortgage payments. According to John Manley, former Liberal finance minister, the Liberals' deficits are driving up interest rates on the backs of mortgage holders.

Will the Deputy Prime Minister and Minister of Finance reverse these deficits so that we can bring down inflation and interest rates before this shipyard worker and millions of Canadians lose their homes?

[Chrystia Freeland, Liberal, Deputy Prime Minister and Minister of Finance]

Mr. Speaker, talk is cheap, but actions speak louder than words. If the Conservatives actually believed in supporting Canadians during the housing crisis, they would be supporting Bill C-56. It includes the critical measure of lifting the GST on all new rental construction, which would get more homes built faster.

The Conservatives should actually act in the interests of Canadians and not continue to parrot their talking points.

Foreign Affairs

[Yves-François Blanchet, Bloc, Beloeil—Chambly, QC]

Mr. Speaker, I, too, would like to congratulate you.

The United States joined forces with four other western powers—Germany, Italy, the United Kingdom and France—to speak as a single strong voice in response to the crisis centred in Gaza that has rocked the whole world. Canada was not invited to participate, despite having a sizable Jewish community. I am not criticizing, but I am disappointed.

Did the government ask to join that group of western powers and take steps to be invited?

[Chrystia Freeland, Liberal, Deputy Prime Minister and Minister of Finance]

Mr. Speaker, Canada is one of the most important and powerful members of the western world. We are a member of NATO and the G7. Last week, I was in Morocco with the G7 finance ministers. It was the first in-person meeting of G7 ministers. I expressed our support for the State of Israel and the Israeli people, and we all condemned Hamas's terrorist attacks.

[Yves-François Blanchet, Bloc, Beloeil—Chambly, QC]

Mr. Speaker, unfortunately, the U.S. Department of State obviously does not see it that way because it simply did not invite Canada. That is deplorable because it prevents the government from doing its job for its own communities and citizens properly. To ensure that everyone here speaks with a common voice on behalf of members of Canada's Jewish community and peaceful Muslims, this morning I suggested it would be appropriate for all the leaders to meet and discuss the issues in private.

[Chrystia Freeland, Liberal, Deputy Prime Minister and Minister of Finance]

Mr. Speaker, I really appreciate the fact that all members of the House, members of the Liberal Party, members of the Conservative Party, members of the Bloc Québécois and members of the NDP are prepared to show that, for us, condemning Hamas' terrorist attacks and supporting the State of Israel is not a partisan issue, it is a Canadian issue. That is the reality, and it is very important to point that out.

[Heather McPherson, NDP, Edmonton Strathcona, AB]

Mr. Speaker, we are all shocked by the brutality, the kidnappings and the targeting of civilians, including the elderly and children, by Hamas militants.

Now the region is spiralling. Thousands of innocent Palestinians and Israelis have been killed in a conflict that they are not responsible for. Today, we learned that a fifth Canadian was murdered, and we know more Canadians are among the captives.

What is the government doing to ensure the hostages are protected and returned to safety?

[Chrystia Freeland, Liberal, Deputy Prime Minister and Minister of Finance]

Mr. Speaker, I am glad to hear the hon. colleague from the NDP also be clear in her condemnation of these terrorist attacks. It is very important to show that this is not a partisan issue for Canada. Clearly, I share, and our government shares, her concern for the hostages. We call for their immediate release.

[Heather McPherson, NDP, Edmonton Strathcona, AB]

Mr. Speaker, Canadians are profoundly alarmed by what we are witnessing in Gaza.

The UN has said that nearly half of Gaza's people have been forced to flee from their homes and that morgues are overflowing. This is a humanitarian crisis of extreme proportions.

It took almost a week for the minister to start paying attention to the impact of this war on Palestinians, even though thousands of people have been killed. Israelis and Palestinians have the right to live in peace.

Why will the Liberal government not stand up for international law and call for a ceasefire?

[Chrystia Freeland, Liberal, Deputy Prime Minister and Minister of Finance]

Mr. Speaker, our government is very clear that we support the State of Israel and recognize Israel's right to defend itself within international law.

As the Prime Minister has said, we are deeply concerned by the dire humanitarian situation in Gaza. International law must be respected. Canada will continue to support civilians of Gaza with urgent humanitarian needs. That is why we announced an initial commitment of $10 million in humanitarian assistance to trusted partners.

Finance

[Jasraj Singh Hallan, Conservative, Calgary Forest Lawn, AB]

Mr. Speaker, after eight years of failed Liberal-NDP policies, the finance minister experiences inflation much differently than everyday Canadians.

Her enormous inflationary deficits led to 40-year highs in inflation that caused the Bank of Canada interest rates to go up, more than ever in history. They are just not worth the cost.

After promising to balance the budget, her own budget watchdog called her out, proving Liberal deficits could reach almost $50 billion this year. I guess budgets do not balance themselves after all.

Could the finance minister tell Canadians how much she is adding to the federal debt this year, or are we asking for too much?

[Chrystia Freeland, Liberal, Deputy Prime Minister and Minister of Finance]

Mr. Speaker, in due course, our government will provide an update on the fiscal picture, both expenses and revenues, in the fall economic update.

Let me be clear, because I do not want Canadians to be misled by alarmist, partisan talking points from the opposition. The reality is that Canada's position is fiscally responsible. We have the lowest debt and deficit in the G7. Our AAA credit rating has been reaffirmed by our ratings agencies.

[Jasraj Singh Hallan, Conservative, Calgary Forest Lawn, AB]

Mr. Speaker, the finance minister is known for speeding up, just for the wrong reasons.

By adding more debt than every government before them combined, she put the pedal to the metal on her deficits and revved up inflation. Unlike on an Alberta highway, the consequence of her spending is not just a speeding ticket; it is a bigger deficit, as well as higher inflation. These things have led to higher interest rates, putting Canada most at risk in the G7 for a mortgage default crisis.

After eight years, the Liberals are definitely not worth the cost. Is the finance minister going to blow through her budget deficit projections, again, by more than $6 billion, yes or no?

[Chrystia Freeland, Liberal, Deputy Prime Minister and Minister of Finance]

Mr. Speaker, our government will provide an update on our fiscal position, expenses and revenues in due course, in this fall's economic update.

I want to be very clear on Canada's fiscal position. I was at the IMF World Bank finance ministers meeting just last week. That is where it was so clear that Canada has the lowest deficit, the lowest debt-to-GDP ratio in the G7. Our position is enviable.

[Adam Chambers, Conservative, Simcoe North, ON]

Mr. Speaker, it is nice to welcome back the finance minister. I was beginning to think she had forgotten the address of this location.

After eight years, Canadians are realizing that the government is not worth the cost. Canadians are struggling and the government continues to increase its deficits and inflation. Everyone now agrees that deficits increase interest rates.

Will the finance minister finally confirm for Canadians that she will balance the budget so that interest rates can come down and Canadians can keep their homes?

[The Speaker, Liberal, Greg Fergus]

I would like to remind members that we are not to make an indirect or direct reference to the presence or absence of members in the House. As members know, according to the rules, members have responsibilities that sometimes take them out of this place. I will have more to say on that later this week.

The hon. Deputy Prime Minister and Minister of Finance.

[Chrystia Freeland, Liberal, Deputy Prime Minister and Minister of Finance]

Mr. Speaker, I am happy to confirm that I was not in the House of Commons last week. In fact, none of us were, because—

[Some hon. members]

Oh, oh!