Debates of Oct. 16th, 2023

Finance

[The Speaker, Liberal, Greg Fergus]

The Deputy Prime Minister has 20 seconds left on her clock.

[Chrystia Freeland, Liberal, University—Rosedale, ON]

Mr. Speaker, last week was, of course, a constituency week, and I was proud to be able to do my job at the IMF-World Bank finance ministers' meeting, in particular because the G7 finance ministers affirmed our shared condemnation of Hamas and shared support for the state of Israel. The first time G7 ministers had met in person, Canada was at the table that—

[The Speaker, Liberal, Greg Fergus]

Again, I would like to remind members that I am well aware of the time members have to ask and to answer questions.

The hon. member for Simcoe North.

[Adam Chambers, Conservative, Simcoe North, ON]

Mr. Speaker, while households are dealing with higher interest rates, taxpayers are now on a bigger hook. That is because interest on the debt is going up. The government projected just a few months ago that it would spend $44 billion on debt-servicing costs this year, but that assumed that interest rates would go down. Instead, interest rates have gone up.

Will the Minister of Finance finally tell Canadians how much they are now on the hook for with higher debt-servicing costs, because interest rates have not come down?

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

Mr. Speaker, our government will state Canada's fiscal position, revenues and costs clearly in the fall economic statement in due course this fall.

What the opposition clearly does not want to admit is that Canada's fiscal position is responsible. Indeed, it is enviable compared to our peer countries. This was reaffirmed by the independent ratings agency, DBRS Morningstar, which recently reaffirmed our AAA rating, and by S&P, which reaffirmed it after the budget.

[Pierre Paul-Hus, Conservative, Charlesbourg—Haute-Saint-Charles, QC]

Mr. Speaker, the Parliamentary Budget Officer expects the federal deficit to reach $46.5 billion next year. That is 16% more than the Liberal government had initially projected.

That being the case, he does not expect interest rates to drop until April 2024. Given the ongoing housing crisis, that is truly a disaster.

Will the Minister of Finance confirm that the deficit will really be $6 billion higher next year?

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

Mr. Speaker, our government will confirm the budget figures in the November economic statement.

Today, however, I can point out a very important reality, a reality that should be reassuring for all Canadians: Canada's fiscal position is very strong. We have the lowest deficit and debt-to-GDP ratio in the entire G7, and our AAA credit rating has been reconfirmed by credit agencies.

Housing

[Pierre Paul-Hus, Conservative, Charlesbourg—Haute-Saint-Charles, QC]

Mr. Speaker, is the minister aware that about 20% of mortgages are now in negative amortization? The monthly payment does not even cover the principal and interest.

Our leader has repeatedly warned about the inevitable outcome of rising inflationary spending. No one listened, not the Bloc Québécois nor the Liberals.

After eight years of disastrous management, will the Liberals stop their inflationary spending to bring mortgage rates down so that Canadians can keep their homes?

[Sean Fraser, Liberal, Minister of Housing]

Mr. Speaker, it is confusing to me that the hon. member would pose such a question when he has a plan that is actually going to increase the cost of building homes and increase the cost to Canadians for living in them. His plan literally is to add taxes to home building and to cut funding that will build more homes for Canadians.

Over the course of our time in the House over the last number of years, we have repeatedly put measures on the floor that are going to help improve the affordability of housing in our country. Time and time again, that member has voted against them.

Foreign Affairs

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

Mr. Speaker, if Canada were a part of the group of five countries formed by the United States to address the conflict between Israel and Gaza, then Canada would be helping to make decisions and would have first-hand information.

Let us see. Can the government and the Deputy Prime Minister tell us whether humanitarian corridors will be opened in Gaza starting today and whether civilians will be able to cross over into Egypt?

[Ahmed Hussen, Liberal, Minister of International Development]

Mr. Speaker, I want to assure the hon. member that Canada was the first western country to announce humanitarian assistance to civilians in Israel and Gaza. Not only that, by announcing it so early and so quickly, we have actually incentivized other partners to move forward.

We are working with partners in the region and our trusted international organizations to ensure we have access to civilians both in Gaza and Israel. We are working diligently, and as events move forward, we will continue to insist on international humanitarian access to civilians in Gaza.

[Alexis Brunelle-Duceppe, Bloc, Lac-Saint-Jean, QC]

Mr. Speaker, we want to reiterate that the Bloc Québécois strongly and unequivocally condemns the Hamas terrorist attacks. We reiterate that Israel has a right to defend itself against Hamas.

However, we need to distinguish between Hamas and the people of Gaza and Palestine. As early as last Tuesday, the UN was calling for a humanitarian corridor into Gaza for medical reasons. That is the very basis of the Geneva Convention relative to the Protection of Civilian Persons, which states in article 3, and I quote, “The wounded and sick shall be collected and cared for.”

What concrete efforts is Canada making to obtain such assurances from Israel?

[Ahmed Hussen, Liberal, Minister of International Development]

Mr. Speaker, we are continuing with our long-standing position that in conflict areas humanitarian access must provided to civilians to ensure there is access to life-saving food, medicine and water. I spoke yesterday with our trusted international partners as well as organizations on the ground, both international and Canadian. They have pre-positioned supplies.

We are the first country that has moved forward to provide much-needed humanitarian assistance, and we are insisting on that access so we can deliver medical supplies to civilians who need them.

[Alexis Brunelle-Duceppe, Bloc, Lac-Saint-Jean, QC]

Mr. Speaker, in order to send aid, there first needs to be a humanitarian corridor.

We are pushing hard, because lately Canada has been losing ground on the international scene. Once again, Canada is on the sidelines while the United States, the United Kingdom, Germany, France and Italy work together. That is unacceptable.

When it comes to human rights, Canada has a contribution to make and it must insist on making it.

Has the Prime Minister spoken directly with Israel about setting up a humanitarian corridor in Gaza?

[Pam Damoff, Liberal, Parliamentary Secretary to the Minister of Foreign Affairs (Consular Affairs)]

Mr. Speaker, we are deeply concerned about the humanitarian situation in Gaza. A civilian is a civilian, and any loss of civilian life is deeply troubling.

We continue to call for international law to be respected. The minister has been engaging directly with her counterparts in the region about the need for a humanitarian corridor to provide rapid and unimpeded access for relief, and she will continue to do so.

Housing

[Tracy Gray, Conservative, Kelowna—Lake Country, BC]

Mr. Speaker, after eight years, the NDP-Liberal government's wasteful inflationary spending is keeping inflation high and causing interest rates to be the highest in a generation.

Canadians are facing tough choices, including whether they have no option other than to sell the family home. A Credit Canada representative told Bloomberg, “selling the house might end up being the only option for some homeowners.” Last week, I heard of a nurse living in her car in the Okanagan.

The Prime Minister is just not worth the cost. When will the Prime Minister finally stop his inflationary spending so Canadians can keep a roof over their head?

[Sean Fraser, Liberal, Minister of Housing]

Mr. Speaker, it is fair to ask a question of the Conservatives. When they talk about inflationary spending, are they talking about the programs they are actually going to cut, which are supporting people right now?

Let us look at the measures that they are going to cut, that they have already voted against. The question was about homelessness. When we put $1.3 billion on the table, the Conservatives voted against it. Are they are going to cut supports for the homeless? When we are talking about removing the GST so we can build more homes for middle-class families in our country, they intend to vote against it. Are they going to cut that too? When we put money on the table for affordable housing, time and time they vote against it. Are they going to cut that too?

The Conservatives are reckless. They are not worth the risk. We are here to support the middle class.

[Tracy Gray, Conservative, Kelowna—Lake Country, BC]

Mr. Speaker, this is from the same government that declared victory on inflation only to see it skyrocket.

James from Langley, B.C. told Global News that he and his husband were selling his home as a result of their mortgage payments and were returning to the rental market.

Mortgage defaults are climbing, with forced sales events up 10%, as just reported by the Toronto real estate board.

After eight years with this NDP-Liberal government, people are being forced to sell their homes. The Prime Minister is just not worth the cost.

Will the Prime Minister finally stop his inflationary spending so Canadians can keep a roof over their head?

[Sean Fraser, Liberal, Minister of Housing]

Mr. Speaker, I am pleased to share with my hon. colleague that I recently had a chance to sit down with the mayor of the township of Langley to discuss their application to the housing accelerator fund, which that member and her party are promising to get rid of.

We want to be there for the cities to help the very kind of people she is asking about in her question, who she promises to cut the support out from under should the Conservatives form government.

If the hon. member is serious about building houses, I would invite her to support Bill C-56, which would remove the tax on the construction of new homes. I cannot understand why those members oppose it.

[Gérard Deltell, Conservative, Louis-Saint-Laurent, QC]

Mr. Speaker, after eight years of this Liberal government, what has Canada witnessed? Chronic deficits and out-of-control inflationary spending. The result is a direct impact on inflation and interest rates, which are currently climbing.

According to the Institut national de la recherche scientifique, one in five Quebeckers are having a hard time repaying their debt and are at risk of losing their home.

After eight years of this Liberal government, will the government finally understand that reckless management is costly for all Quebeckers and Canadians?

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

Mr. Speaker, all we are doing is increasing partisan bickering. Now I will give the facts.

The facts are that Canada is fiscally responsible. Our AAA credit rating has been reconfirmed by the agencies, and we have the lowest debt and deficit in the G7.

If the Conservatives want to help us with the housing crisis, they need to support our Bill C‑56. That is the reality.

Pharmacare

[Don Davies, NDP, Vancouver Kingsway, BC]

Mr. Speaker, millions of Canadians are going without their prescription medications because they cannot afford them. Thousands die as a result. Universal public pharmacare will cover everyone and save us billions of dollars. This weekend, NDP members sent a clear message to deliver it.

The Liberals themselves promised public pharmacare 26 years ago, and their own convention delegates voted for it in 2016, 2018 and 2021.

Will the Liberals keep their word and finally deliver the public pharmacare that Canadians need and want?

[Mark Holland, Liberal, Minister of Health]

Mr. Speaker, I have enormous regard for my colleague. I know his commitment and passion to help reduce costs for Canadians is there.

He would know, therefore, that the work we have taken jointly with provinces and territories on bulk purchasing, to see $3.5 billion in savings by working together to reduce costs for Canadians, has happened. He knows that we have taken critical action on rare diseases and drugs for rare diseases. He knows we have taken critical action on patented drugs.

Yes, we are having a discussion on pharmacare legislation. I look forward to a continued productive conversation as we look at all the health care priorities in keeping Canadians safe and healthy.

[Alexandre Boulerice, NDP, Rosemont—La Petite-Patrie, QC]

Mr. Speaker, not only will it save lives, but a universal public pharmacare program would save the sick, workers, hospitals and employers billions of dollars.

The Liberals need to make that happen. It is not just NDP supporters who are saying this. All the studies and reports show that. Even the Liberal Party delegates voted for universal pharmacare at three straight conventions.

When will this government stop dragging its feet and offer a real universal pharmacare program for people?

[Mark Holland, Liberal, Minister of Health]

Mr. Speaker, we definitely need to reduce the cost of prescription drugs across the country. Thanks to our government's efforts, we have been able to reduce the cost of prescription drugs by nearly $3.5 billion by buying prescription drugs with the provinces and territories. We also worked with all our partners to find a way forward for the future. We certainly worked with all members here in the House to reduce the cost of prescription drugs.