House of Commons Hansard #329 of the 44th Parliament, 1st Session. (The original version is on Parliament's site.) The word of the day was housing.

Topics

Motions in AmendmentBudget Implementation Act, 2024, No. 1Government Orders

11:50 a.m.

Whitby Ontario

Liberal

Ryan Turnbull LiberalParliamentary Secretary to the Deputy Prime Minister and Minister of Finance and to the Minister of Innovation

Madam Speaker, I would note that there were many statements strung together in the member's speech that seem to be false. I am not sure who constructed that speech, but there are a lot of different things that I could take issue with. We know that Conservatives do not care about climate change. They voted hundreds of times in this House against any action on climate change whatsoever.

The member's party seems to be against investments in dental care, investments in pharmacare, investments in child care spaces, investments in health care and investments in mental health care. I do not know if members notice a trend here, but basically anything with the word “care” in it, the member's party seems to stand against.

Our government is investing in services and supports that Canadians need to lift them up, a stronger social safety net. Could the member opposite speak to why and how she can pretend to care about Canadians but not be willing to lift them up in their time of need?

Motions in AmendmentBudget Implementation Act, 2024, No. 1Government Orders

11:50 a.m.

Conservative

Rosemarie Falk Conservative Battlefords—Lloydminster, SK

Madam Speaker, it is unfortunate that the member suggests that the things I have spoken about are false. These are things that I have heard from the constituents I represent in a rural riding in Saskatchewan, where the government has been hell-bent on not respecting provincial jurisdiction and what the premier sees best for his province.

The member talks about investing. The government is great at increasing taxes; that is what the government does. The Liberals are increasing taxes for every single generation to fund their agenda of spend, spend, spend, under the guise of “We're helping Canadians. We're caring for Canadians”, when the reality is that it goes to pay for high-priced consultants and to cover up their crime and corruption.

Motions in AmendmentBudget Implementation Act, 2024, No. 1Government Orders

11:50 a.m.

Bloc

Denis Trudel Bloc Longueuil—Saint-Hubert, QC

Madam Speaker, I am always a little in awe when I hear the Conservatives speak. Aside from slogans, I do not hear any solutions or any plan. How would a Conservative government address our current problems?

My colleague spoke briefly about housing. According to the CIBC, all we have to do is build 5.8 million housing units in Canada by 2031. We have never gotten near that number. In fact, we would have to build three times more per year than we have ever built before.

Apart from chewing out the mayors of major Quebec cities like Montreal and Quebec City, what is the Conservatives' plan for building housing units and getting the country out of this housing crisis?

Motions in AmendmentBudget Implementation Act, 2024, No. 1Government Orders

June 11th, 2024 / 11:50 a.m.

Conservative

Rosemarie Falk Conservative Battlefords—Lloydminster, SK

Madam Speaker, what we do know with the NDP-Liberal government is that photo ops and announcements do nothing. We know that. At the committee I am on, we have heard quite regularly how taxes on development—

Motions in AmendmentBudget Implementation Act, 2024, No. 1Government Orders

11:50 a.m.

Liberal

The Assistant Deputy Speaker (Mrs. Alexandra Mendès) Liberal Alexandra Mendes

There is a phone near the mic, and the vibration was being picked up by the mic.

The honourable member for Battlefords—Lloydminster.

Motions in AmendmentBudget Implementation Act, 2024, No. 1Government Orders

11:50 a.m.

Conservative

Rosemarie Falk Conservative Battlefords—Lloydminster, SK

Madam Speaker, we are hearing at the HUMA committee right now, in a study of housing, that the taxes and the regulatory red tape burden that developers are facing are in the way of getting housing built. At the end of the day, we know that after nine years, the Liberals, propped up by the NDP, have not gotten the job done.

Motions in AmendmentBudget Implementation Act, 2024, No. 1Government Orders

11:50 a.m.

NDP

Gord Johns NDP Courtenay—Alberni, BC

Madam Speaker, it was a reasonable question that came from my Bloc colleague. He just wanted to hear any ideas to come out of the Conservative bench on policy. However, in fact, the Conservative member did not provide any sort of possible solutions when it comes to housing.

We know that the Conservatives are trying to block everything: block support for a school lunch program, dental care and pharmacare. Another thing they are blocking is a tax credit for firefighters and search and rescue volunteers, which is absolutely critical for the retention of those volunteers in our country. Maybe my colleague can explain to those volunteer firefighters and search and rescue volunteers why the Conservatives are using every single tool in the tool box to delay help to Canadians.

Motions in AmendmentBudget Implementation Act, 2024, No. 1Government Orders

11:55 a.m.

Conservative

Rosemarie Falk Conservative Battlefords—Lloydminster, SK

Madam Speaker, it has been proven, after nine years, that the Liberal policies are doing nothing but creating more red tape.

I put forward a PMB, Bill C-318. Where is it? The Liberals stole it.

If the Liberals are so great with policies, maybe they should put some policies forward that do not create red tape, do not tax the taxpayer to death and actually have homes built. They are failing to do all of the above.

Motions in AmendmentBudget Implementation Act, 2024, No. 1Government Orders

11:55 a.m.

Conservative

Tom Kmiec Conservative Calgary Shepard, AB

Madam Speaker, I am glad I caught your eye, and I am glad you also caught the fact that I had mistakenly put my phone a little bit too close to the microphones. It is now far away.

I want to start by thanking the residents and constituents of my riding for again allowing me the opportunity to represent them in the House. We are now several years into this particular Parliament, but we all know that it is a great honour to be sent here to represent them. We speak on their behalf. We do not just speak for ourselves.

In preparation for speaking today, I did go through the many emails and phone notes I have written to myself from calls with constituents, people who have told me about the misery they are suffering through with the NDP-Liberal government's policies and Bill C-69 specifically, which is basically an encapsulation of many years of policy-making by the government that has led to the doubling of mortgage down payments and the doubling of rent.

I speak as a renter. My rent has gone up significantly, and I do not fault my landlord. He has no choice, because interest rates have much more than doubled. When an interest rate goes from 25 basis points or 50 basis points to 4.75%, that is a multifold increase. That is not a doubling; it is not a 4.5% increase. We are talking about a manyfold increase, like an 800% increase in some cases, on the interest people are paying on the total amount of their loan. I do not fault them.

We have seen the price of homes double since the Liberal government took over. We have seen the price of many goods go up significantly. It is the number one issue in my riding, the cost of living. It hits people in the grocery stores when they see it. It hits them at the pump when they go to refill their trucks or vehicles that they use to get their families around my riding. My riding is one of the bigger ones in Canada. Thankfully, the electoral boundaries commission is drastically shrinking it, by 40%. That will make it much easier for me to get back to everybody on time, those who make phone calls and send emails and those few who still send letters.

I often get asked the question, “What would Conservatives do?” I have taken the time to summarize a few things that, for me, are the highlights of what Conservatives would do. We have our main points that we make, and all parties do this. I often hear the NDP-Liberals accuse Conservatives throughout Canada of sloganeering. We are just making it simple for people to understand. There are vast amounts of information online, on YouTube, on social media. I trust Canadians to go through those things. If they are interested and curious about what Conservatives are proposing, there is an entire docuseries that, for example, the member for Carleton, the leader of His Majesty's opposition, has made, “Debtonation.” I highly recommend it. Those who are interested should go check it out.

I will start with “pay as you go”. It is a very simple idea. It has been time-tested. It has worked. In the U.S. Congress, between 1998 and 2002, when it was introduced, it basically said that for every new dollar of government spending, the current government had to find a dollar of cuts in current government programs or propose one dollar of new taxation to cover this cost. In the span of those four years, they were able to balance the budget of the United States government. That is a government that runs trillion-dollar deficits at this point.

Our national debt is in the trillions, but we do not run trillion-dollar deficits yet. I do not want to suggest anything. I am sure the Liberal government, if given half the opportunity, would reach that level. After all, as I remember it, there was a certain Prime Minister who promised to run small deficits, less than $10 billion for three years, and that never happened. The Prime Minister has run multi-billion dollar deficits ever since he was elected to office, and it has never stopped. In fact, none of the budgets that the Liberals have tabled since then have shown a balanced budget.

“Pay as you go” is a proposal from the Conservatives to adopt that would ensure that we could fix the federal budget. Fixing the federal budget would lead to lower interest rates. Lower interest rates would lead to lower housing costs and lower rents and, at the very minimum, stop this massive inflationary increase in the costs of everything.

It would make it easier for small businesses, like those of fishermen, giving them an opportunity to actually be able to afford new equipment. It would give them an opportunity to plan for their retirement and have the certainty that the equipment, goods, boats and everything else they use to run their business would have the same value at the end of the day, so they could retire with dignity.

The second thing is the building homes not bureaucracy act, which this House voted on. I find it interesting that one of the NDP members who spoke was trying to give a hard time to one of our members, the member for Battlefords—Lloydminster, saying that we had not proposed anything on housing. We proposed legislation on housing, legislation that they voted against, in fact. The NDP members voted with their coalition partners in the Liberal Party.

There is a proposal, the building homes not bureaucracy act. It went very specifically to the heart of what is going on in our country, which is that we have people at the very local level, in the planning departments of different cities, who are making it more difficult to increase density and, as is is in my community, to build more greenfield housing of single-family detached housing and low-rises. Calgary has generally done a really good job of building housing that is necessary, but so has the city of Edmonton.

As Calgarians, we do not often praise the city of Edmonton, but I used to live in Edmonton, and if I look at its housing costs over the last nine years, it probably has the smallest increases of any major metropolitan region. That is because, locally, they have decided to prioritize pricing and make sure that pricing stays low and affordable, so people can afford the homes that they want to live in, and there are different types of housing for different people to make sure they have the choices they need at different stages in their lives.

However, the building homes not bureaucracy act had provisions in it to ensure that we divested ourselves from federal government properties that are no longer necessary, to ensure that we can pass them over to developers to encourage them to build more housing and more development around TUCs, and also to cut CMHC's bonuses. This is the housing agency that is supposed to ensure we build sufficient amounts of housing. I have long been a critic of the CMHC. It does not matter which CEO has been there. It has completely failed in its mandate, so at minimum we should be cutting these bonuses, the performance base or whatever euphemism we want to use for the bonuses and the extra pay they are giving themselves when they are failing. We should not reward failure.

The government needs to cancel the carbon tax. It is very simple: Axe the tax. The carbon tax is adding on to the misery of all Canadians. We can see it in our grocery stores with the prices, but if we tax the farmer who makes the food, and we tax the shipper who takes the food to the producer who adds second-level value, and then they take it to the grocery store, all of those costs are being passed on through the entire system, and we have higher costs at the end of the day. That is simply how math works, and axing the tax is the solution.

What would we do to replace the tax? We are Conservatives. Generally, we do not like taxes. We would not replace it with any other tax. There are a lot of technological changes that we could do. There are a lot of things that we could do on the grid side in Canada to make sure we have a national grid, or something closer to a national grid, where there would be a better flow of electrical power between the provinces. We can do that through encouragement. We do not need to mandate things.

I watched the Minister of Environment mandate things, such as forcing Calgary Co-op, the grocery store of my choice, with 400,000 members in Calgary, almost a third of the city, to abandon its completely compostable bags. They are completely compostable in the city-owned compostable system, and the government is saying that they have single-use plastic in them. It is a compostable bag. Not even the ink is made of plastic. It is also compostable, but an insistence that Ottawa knows best is why we see so much division in this country and so few Liberal provincial governments left. There are so few of them left in existence.

I know many members wait for this, but I always have a Yiddish proverb. I have a great love for that language, and when a wise man and a fool are debating or arguing, there are two fools debating. That is what I feel while watching the Liberal cabinet when it has these disagreements about whose fault it is that there is a massive increase in mortgages and massive increase in housing prices and rentals. They seem to always point their fingers at somebody else. It is never their fault when things go wrong. It is always someone else's. It is as if they've not been in power for nine years.

The government members often, during question period especially, say that they will find the person who is responsible for this. They love labelling small business owners as too rich, with too much for their retirements, while the Liberals basically have golden-plated defined benefit plans that are afforded to them by the taxpayer. They should stop accusing those who create richness in our country and who contribute to the hiring in all of our communities. It is often that the government members are always looking for someone else to blame. It is the cabinet. It is just that person. I have not found a wise man among them yet, but I have found those fools who continuously blame Canadians for every single one of their mistakes.

As such, of course, I am going to be voting against Bill C-69. I have moved several amendments to it as well. It is also a matter of confidence, so I will also remind my constituents back home that on these types of matters, I have zero confidence in the NDP-Liberal government and this coalition, and we must vote this legislation down.

We have to have a carbon tax election, so let us axe the tax, build the homes, fix the budget and stop the crime.

Motions in AmendmentBudget Implementation Act, 2024, No. 1Government Orders

12:05 p.m.

Whitby Ontario

Liberal

Ryan Turnbull LiberalParliamentary Secretary to the Deputy Prime Minister and Minister of Finance and to the Minister of Innovation

Mr. Speaker, I note that, when asked for solutions, the member offered a couple of gimmicky slogans. I cannot think of any term for them other than “slogan”. “Pay as you go”, was what the member said. It is interesting that this concept is a way of looking at our fiscal environment and saying that it is what the government needs to do, but the member opposite has not ever pronounced, as is the same for all of his party members, whether the Conservatives are going to support our government's plan to increase the capital gains inclusion rate for people making over $250,000 in capital gains.

I would note that, when the Governor of the Bank of Canada came to the finance committee, only a couple of weeks ago, he said that our government is sticking to the fiscal guardrails and that this is helpful in fighting inflation. The only way that is possible is that, on the one hand, we have the investments we are making and, on the other hand, we have some additional revenue from the capital gains. The Governor of the Bank of Canada says that is helpful. What is the member opposite's position on the capital gains issue?

Motions in AmendmentBudget Implementation Act, 2024, No. 1Government Orders

12:05 p.m.

Conservative

Tom Kmiec Conservative Calgary Shepard, AB

Mr. Speaker, I have sad news for the member. If he carefully reads the piece of legislation, Bill C-69, he will see that the capital gains tax is not in it. In fact, the Minister of Finance said that she would table a separate piece of legislation. It is as if the Liberals were completely unprepared to table a single piece of budgetary legislation that included all of their taxing schemes because they were either too incompetent, too foolish or did not know what they were doing, or this is just a political ploy and a political game, just as so many pundits are now attacking the Liberals over. They even have the Canadian Medical Association disagreeing with them.

Capital gains tax is not in the legislation. I invite the member to read it.

Motions in AmendmentBudget Implementation Act, 2024, No. 1Government Orders

12:05 p.m.

NDP

Laurel Collins NDP Victoria, BC

Mr. Speaker, the member talked about the Conservatives' so-called housing plan. The Conservatives' plan is to sell off public land to rich developers. They want to make their corporate landlord donors even wealthier. When the Leader of the Opposition was housing minister, he built all of six homes. He let half of the country go, with zero dollars to build more rentals. He lost 800,000 units of affordable housing. He sold them off to corporate landlords. This is the Conservatives' plan: cut and privatize. Canadians are worse off.

Does the member not think that we should use public land and public money to build more non-market housing, more co-operative housing and more social housing, which would be more housing for people that people can actually afford?

Motions in AmendmentBudget Implementation Act, 2024, No. 1Government Orders

12:05 p.m.

Conservative

Tom Kmiec Conservative Calgary Shepard, AB

Mr. Speaker, we were carefully listening, the group of us here, to the member's comments on what I had said and proposed, including the fact that we have legislation that we had proposed before the House. That member voted it down. The NDP-Liberal coalition voted down a piece of legislation that would have addressed the housing crisis created by the massive spending by the Liberal-NDP government. We really spent our way to prosperity, have we not? The massive spending by the government has led to higher interest rates and higher inflation. This has been tried before, and it has failed every single time.

My message to residents back home in Calgary and in Calgary Shepard, my corner of the city, is to remind residents and ask them if they are better off today than they were nine years ago. That is a very simple thing. Every single one of my residents, I am convinced, will say, no, they are worse off because of the NDP-Liberal government and MPs' decisions on spending.

Motions in AmendmentBudget Implementation Act, 2024, No. 1Government Orders

12:10 p.m.

Bloc

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

Mr. Speaker, I know that the Conservatives are against the budget. However, in this budget, the Liberals are giving tens of billions of dollars to oil companies and the fossil fuel industry in Canada.

I know that the Conservative Party finds it difficult to acknowledge the existence of climate change and that it is always extolling the virtues of Canada's oil industry. I would think they would be happy to see that in the budget.

Why are they then voting against it?

Motions in AmendmentBudget Implementation Act, 2024, No. 1Government Orders

12:10 p.m.

Conservative

Tom Kmiec Conservative Calgary Shepard, AB

Mr. Speaker, tens of thousands of families in my riding depend on jobs in these energy companies. These are companies that were founded in Alberta. Many of them started as small businesses.

Thanks to the Government of Alberta, and thanks to the quality of the workers in my riding, we have built companies and wealth worth billions of dollars. The jobs they create pay for the houses, vacations and education of every family in my riding.

I am proud of these big Albertan companies.

Motions in AmendmentBudget Implementation Act, 2024, No. 1Government Orders

12:10 p.m.

Conservative

Tony Baldinelli Conservative Niagara Falls, ON

Mr. Speaker, I rise today to participate in the debate on the budget implementation act, also known as Bill C-69. I will declare from the outset that I will oppose the reckless and incompetent Liberal government and its disastrous economic policy, which is contained in this legislation.

When the budget was introduced, the Liberal government told Canadians that it was adding another $57 billion in new inflationary spending, but guess what? The Parliamentary Budget Officer later confirmed that that enormous number was even higher, to the tune of $61.2 billion. That is a miscalculation of over $4 billion. This new inflationary spending only adds more financial fuel to the flames of inflation. Sadly for Canadians, as long as the NDP-Liberal government stays in power, it is only going to get worse. Already, it is costing Canadians more. In fact, the new spending in this budget would cost the average Canadian family an extra $3,687. I would ask the Canadians watching at home to pause and think about that for a moment. What could their family do if they had an extra $3,687 in their bank account?

As the shadow minister for tourism and the proud member of Parliament for the Niagara Falls riding, which includes the city of Niagara Falls and the towns of Niagara-on-the-Lake and Fort Erie, may I be the first to suggest a vacation in Niagara Falls, Canada's top leisure tourism destination? When common-sense Conservatives proposed to rescind the carbon tax and federal taxes for fuel for the summer to allow Canadians an opportunity to enjoy a vacation, the Liberal government instead criticized those same Canadians and then voted down our motion.

Really, that extra money could go toward anything, especially things that would help improve the quality of life for them and their children. Instead, the Liberal Prime Minister will continue to take their hard-earned money and then immediately throw it at the shocking interest charges that his enormous debt has racked up after nine years. This is simply unsustainable. This is not how we get to a balanced budget either, as the finance minister said she would during her fall fiscal update in 2022.

According to the Fraser Institute, last year the Liberal government was spending more on paying off its debt than it was spending on child care benefits and employment insurance benefits, but it gets worse. This year, the NDP-Liberal government will spend more taxpayer money on servicing its debt than on health care. I will let that sink in for a moment.

After nine years of the Liberal Prime Minister, it feels like we are back in the dying days of the Dalton McGuinty and Kathleen Wynne Liberal government at Queen's Park, where rampant, wasteful and reckless Liberal spending on green energy programs made Ontario's debt the highest of any sub-sovereign state in the world. What is both troubling and astounding is the fact that some members on the Liberal side are from the very same cast and government of that Ontario period. Have they learned nothing?

After nine years of the Liberal government, Canadians know prices are up, rent is up, debt is up, taxes are up, and they are fed up. Rent has doubled. Mortgage payments are 150% higher than they were before the current Prime Minister took power. Tent cities exist in almost every major city. Over 50% of Canadians are $200 or less away from going broke. The Liberal government's tax-and-spend inflation is non-discriminatory. It costs Canadians their hard-earned money and savings, and it impacts Canadians of all walks of life, of every demographic and in every region of our great country. Young Canadians have had to put their dreams of buying a home on hold, while hard-working Canadians are working overtime, or two or more jobs, just to get by. Retirees, who have worked hard their whole lives to build our country, are now struggling to hold on to their savings as high inflation and new Liberal taxes drain their bank accounts.

Demand at local food banks is at an all-time high. In Niagara Falls, Project Share's food bank served more than 13,000 people last year, a total of one in seven residents. Across Ontario, a report from Feed Ontario revealed that more than 800,000 Ontarians used a food bank between April 2022 and March 2023, an increase of 38% province-wide.

These miserable results are the legacy of nine years of the Liberals' rule, and their disastrous spending and budgetary plans, which have failed at every turn. If Canadians were not already enduring enough financial pain and suffering caused by their federal government, they will take no solace in knowing that the Liberal government is committed to quadrupling the carbon tax, driving up the cost on everything from food, to groceries, to shelter and energy to heat and cool their homes.

The government's most recent tax increase was a 23% hike on the carbon tax on April 1, but there is hope. There is a solution. In the next federal election, which will be a carbon tax election, Canadians can elect a common-sense Conservative government. Only common-sense Conservatives will axe the tax to bring lower prices for Canadians. We will build the homes Canadians need. We will fix the budgetary finances of this country and we will address the issues of crime, which the government policies have made only worse, not better, in Canada.

The carbon tax is just one of a series of new tax measures being schemed up by the tax-hungry Liberal government that needs to continuously feed and fund its spending addiction. In the first quarter of this year alone, businesses across Canada saw taxes go up in areas such as CPP and EI premiums, as well as the added burden of the carbon tax. Some also had an alcohol escalator tax hike to worry about, such as the wineries and craft breweries in my riding, and every business is concerned about general costs continuing to go up.

Canadians in need of a home, desiring to rent or trying to save to buy their first home face stiff headwinds. After nine years of the Liberal government, housing costs have doubled and mortgage costs have doubled. Required down payments have doubled and rent has also doubled. More houses were built in 1972 than were built in Canada in 2022. Because of the government's habitual overspending ways, Canadians are struggling with increased mortgages and interest rates, which threatens their very future.

Just this morning, Global News reported on an Ipsos poll indicating 63% of respondents would continue to remain on the sidelines of the housing market due to higher interest rates. The poll was conducted between June 7 and June 10. Some 45% of respondents maintained that they would not be able to afford a home no matter how much interest rates declined, and, sadly, six in 10 respondents said they had given up on ever owning a home.

After nine years of the Liberal government, Canadians are poor while Liberal insiders and friends of the Liberal cabinet get rich. The government has screwed up the housing file so badly that in the 2023 fall economic statement, it trumpeted the creation of a new Canadian mortgage charter to save Canadians from the problems the NDP-Liberal government had created itself. The government should be ashamed.

Only common-sense Conservatives will axe the tax, build the homes, fix the budget and stop the crime so Canadians can focus on getting ahead in their daily life. After nine years, it is clearer than ever that the Liberal Prime Minister is not worth the cost, and budget 2024 would make life worse across the country for Canadians. Prices are up and rent is up. Debt is up; taxes are up, and Canadians are fed up. The Liberal government's time is up.

I encourage members of all opposition parties to take a stand with Conservatives, vote against the reckless, inflationary federal budget and vote non-confidence in the disastrous Liberal government.

Motions in AmendmentBudget Implementation Act, 2024, No. 1Government Orders

12:20 p.m.

Whitby Ontario

Liberal

Ryan Turnbull LiberalParliamentary Secretary to the Deputy Prime Minister and Minister of Finance and to the Minister of Innovation

Mr. Speaker, I have to give the Conservatives some credit finally. I know it is taken me a long time to reach this conclusion, but they are exceptional at stringing together misleading and false statements into speeches.

The member opposite talked about quality of life. He used that phrase in his speech. Our government's budget and the BIA invest in helping Canadians be able to save or to buy their first home; in ensuring that families can save for their children's education more easily; in ensuring that over 400,000 more kids can get food in school; in life-saving medication, which obviously would cost families if it were not offered through a national pharmacare program; in student loan forgiveness; in research funding to ensure that students and researchers can do their work at a competitive rate; in helping seniors get their teeth fixed; and in more child care spaces. The list goes on.

Does the member opposite oppose every single one of those investments designed to improve the quality of life of countless Canadians?

Motions in AmendmentBudget Implementation Act, 2024, No. 1Government Orders

12:20 p.m.

Conservative

Tony Baldinelli Conservative Niagara Falls, ON

Mr. Speaker, the member talked about investments. It is spending. The government is spending enormous amounts, billions of dollars in fact, to fix the problems it in fact has created itself. These programs would not have been needed had the government taken actions earlier on to fix the problems that we now face.

On the housing file, the government has spent $89 billion on its national housing strategy. Never has so much been spent to accomplish so little. I mentioned in my speech that the government, in 2022, built fewer homes than the former government did in 1972. That is a failure on the part of the current government.

Motions in AmendmentBudget Implementation Act, 2024, No. 1Government Orders

12:20 p.m.

Bloc

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

Mr. Speaker, let me reassure my colleague that the Bloc Québécois will be voting against this budget.

One of the reasons we will be voting against this budget has to do with the government's commitments toward the oil and gas industry. The budget commits up to $83 billion by 2035 to an industry that is raking in record-breaking profits while contributing to global warming.

I would simply like to know if this is one of the reasons my colleague will be voting no too: the fact that this government is handing billions of dollars to an industry that does not need the money and that is helping exacerbate climate change.

Motions in AmendmentBudget Implementation Act, 2024, No. 1Government Orders

12:20 p.m.

Conservative

Tony Baldinelli Conservative Niagara Falls, ON

Mr. Speaker, again, we are voting against the government, and the budget in particular, because of the government's failures over nine years of being in power. Its actions have caused the affordability crisis we are facing today.

Our hope is that a non-confidence vote will be held in our favour and that a carbon tax election will be held so a common-sense Conservative is elected to try to fix the problems the government has created.

Motions in AmendmentBudget Implementation Act, 2024, No. 1Government Orders

12:20 p.m.

NDP

Lisa Marie Barron NDP Nanaimo—Ladysmith, BC

Mr. Speaker, one thing the member and I can agree on is that the Liberals have failed to ensure that Canadians across the country have housing. However, I have not heard a single concrete, sound solution being put forward by the Conservatives.

One such thing that is vital, which we are talking about today, is the rental protection fund. We know that for every one house built, 11 affordable homes are being lost, yet the Conservatives continue to prop up the same corporations that are swooping in and buying up affordable homes, leaving people unable to access the homes they need. Housing is a basic human right.

Why does the member continue to participate in delay tactics that are keeping Canadians from being able to access the affordable housing they need and deserve?

Motions in AmendmentBudget Implementation Act, 2024, No. 1Government Orders

12:20 p.m.

Conservative

Tony Baldinelli Conservative Niagara Falls, ON

Mr. Speaker, why did the opposition party that works in tandem with the government vote against our building homes and not bureaucracy act? We put forward a piece of legislation that would address the housing crisis in Canada, and the New Democrats voted to support their Liberal friends.

Motions in AmendmentBudget Implementation Act, 2024, No. 1Government Orders

12:25 p.m.

Bloc

Gabriel Ste-Marie Bloc Joliette, QC

Mr. Speaker, Bill C-69 is an omnibus budget implementation bill that creates or amends 67 different acts. It enacts the consumer-driven banking act, which makes the federal government exclusively responsible for regulating this sector, with the Financial Consumer Agency of Canada serving as the regulator.

Today we are calling on the government to take this division out and fix its flaws over the summer. We want the government to come back in the fall with a framework that does not give Bay Street an undue advantage over other financial institutions, that respects Quebec's and the provinces' jurisdiction and that delegates the administration of the framework to an appropriate agency.

Since financial technology or fintech companies are not federally regulated, Ottawa has opted to regulate them indirectly by controlling the manner in which the banks can transact with them. Specifically, Bill C‑69 provides that banks and other federally regulated financial institutions will be covered by the new act. They will be required to co-operate with fintech companies, but they may do so only in accordance with federal rules and standards.

As for institutions that are not federally regulated, they are ignored. They can opt in voluntarily if they get the approval of their province, which would then have to waive the right to apply its own laws to the portion of their activities that comes under the open banking system. For now, Bill C‑69 does not affect insurers, due to the sensitive nature of the medical data they hold, or to intermediaries like brokers, but the framework is likely to expand to cover them in the future.

The specific rules and standards that will apply to the sector, particularly in terms of consumer protection and financial liability, will be set out in another bill that is due out in the fall, but the decision to make it exclusively federal is being made now, in Bill C‑69. We urge the government to take out this division, improve it over the summer and present us with a better law this fall. Taking out this division will not delay the bill's coming into force.

In practical terms, under this section of Bill C-69, the Quebec Consumer Protection Act and the Quebec Act Respecting the Protection of Personal Information could cease to apply to financial institutions for any activities related to open financial services. The impact of an exclusively federal open banking system on the prudential obligations of Quebec financial institutions, as set out by the Autorité des marchés financiers, is unclear at this point.

In addition to forcing Quebec to transfer legislative power to Ottawa, Bill C-69 puts Quebec's institutions at a disadvantage with respect to federal institutions. While banks will have only one set of regulations to follow, an institution like Desjardins would be caught between two governments: the Government of Quebec, for its general operations, and the federal government, for its technological interactions with customers.

Being subject to two uncoordinated regulatory bodies could be downright dysfunctional and give banks an egregious advantage over co-ops and trust companies. Bill C-69 gives Bay Street an advantage over other institutions like co-ops and credit unions. As a result—

Motions in AmendmentBudget Implementation Act, 2024, No. 1Government Orders

12:25 p.m.

Conservative

The Deputy Speaker Conservative Chris d'Entremont

The member for Lac-Saint-Jean is rising on a point of order.

Motions in AmendmentBudget Implementation Act, 2024, No. 1Government Orders

12:25 p.m.

Bloc

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

Mr. Speaker, there are people talking. If people want to talk, they should do so in the lobbies.