Mr. Speaker, I would like to take a moment to acknowledge the passing of a former parliamentarian just a few days ago. Gilles Perron, who was the member for Rivière-des-Mille-Îles for 11 years, passed away after a brief battle with cancer. He will be remembered as a fighter, someone who was close to his constituents and dedicated to his community. He will also be remembered for his extraordinary commitment to veterans. Any progress made on post-traumatic stress disorder is thanks to him. Dearest Gilles, thank you and rest in peace.
Despite this sad news, I am pleased to rise today to speak to the bill to implement certain provisions of budget 2024, Bill C-69. I would like to begin by saying that the Bloc Québécois has decided to vote against this bill. Why? It is because too many aspects of the bill go against our values, the needs of Quebec society and what we have been protecting from the very beginning, that is, Quebec's areas of jurisdiction. They are also other provinces' areas of jurisdiction, provinces that might be less combative than Quebec, but, basically, these are our jurisdictions. As I see it, all of this is having a negative impact on the environmental balance of Quebec and Canada.
We have before us a mammoth omnibus bill. We are talking about 650 pages. It contains 67 different measures, 23 tax measures and 44 non-tax measures. Objectively speaking, this bill has some positive aspects, but clearly it has too many irritants for the Bloc Québécois to agree to support it. I will focus my speech on just two points. Given that we are talking about a 650-page bill, we obviously have to limit ourselves. Two things in this bill are very important to me, and Quebeckers are concerned about them too. I am talking about oil and the environment. Oil gets a lot of ink. Far be it from me to make extremist or—how shall I put this—demagogic comments, because people still need oil.
We still need oil, unfortunately, but if we were able to advocate for a well-thought-out, calculated phase-out of oil and gas extraction, that would help us move on to something else and look to the future in a better light. However, our government and the Conservatives are obviously not taking that direction. The implementation of budget 2024 is clear proof of that.
Who here believes that there is a single oil company in Canada that needs subsidies to operate? No one, obviously. I think that even the Conservatives would agree with me. Ottawa is subsidizing oil companies to the tune of a whopping $30.3 billion in tax credits. Subsidizing companies that have record revenues year after year does not add up and is even rather obscene.
The massive subsidies the federal government is giving oil companies in the form of tax credits will total $83 billion by 2035. Six tax credits were introduced by the Liberals in the last two budgets. What is more, this $83 billion is being given to companies whose shareholders are 70% foreigners, people from outside Canada. This creates a significant flight of capital out of Quebec and Canada. It is important to mention it.
As for the profits generated by these same oil companies, we are talking about $38 billion from 2020 to 2022. Yes, we, the taxpayers, are paying oil companies to continue polluting when they are making record profits. That is an insult to our intelligence and, of course, to our environment.
Similarly, the government has implemented a clean technology investment tax credit of $17.8 billion. That is also a rather striking and appalling example. Under the guise of promoting clean energy, this tax credit actually seeks to encourage oil companies to use nuclear reactors, which would, of course, enable them to extract more bitumen and make more gas available for export at taxpayers' expense.
This bill contains another tax credit, the $12.5-billion carbon capture, utilization and storage investment tax credit. The problem is that this money once again enables oil companies to extract more oil. What is more, let us not forget that carbon capture is still in its infancy, in a completely experimental phase. The goal is to recover some of the carbon dioxide emitted and then store it underground, usually in old, empty oil wells.
Interestingly, former Liberal environment minister, Catherine McKenna, did an interview with a news site called 24 heures on December 5, 2023. She had this to say about the investment tax credit for carbon capture, utilization and storage:
It should never have happened, but clearly the oil and gas lobbyists pushed for that....We are giving special access to companies that are making historic profits, that are not investing those profits into the transition and clean solutions. They are returning those profits to their shareholders, who for the most part are not Canadian, and then they ask to be subsidized for the pollution they cause, while Canadians have to pay more for oil and gas for heating.
I guess the Liberals need to leave their party in order to speak freely and intelligently.
I will now move on to my second point. People have probably been outside today and are likely aware of the massive temperature increase forecast for this week. We are in for a second heat wave, and it is not even officially summer yet. The temperature with humidex will be 45°C. Some 135 million people will be affected by this extreme temperature. There are also the 19 pilgrims who died today in Saudi Arabia. Let us also think of the teachers and students who are finishing their year and their exams in extreme heat. Above all, I am thinking of seniors whose health is fragile and who will be affected by these extreme temperatures. There are also the farmers who are struggling to make sure they can harvest their crops, which provide us with healthy food.
There is absolutely nothing in this budget to mitigate the impacts of climate change. Do we still need to convince the Liberals that it is nearly too late to take action? It is unacceptable to ignore this issue and not prioritize measures to ensure the quality of life for future generations. The Bloc Québécois cannot just sit back and wait for a plan that will not be presented until next fall.
In closing, I would add that the government did not pick up on any of the priorities put forward by the Bloc Québécois before the economic statement. These are priorities that would respond to the real and urgent needs of Quebec and would serve Canadians as well. I will simply conclude by saying that the Bloc Québécois will continue to stand up for the interests of Quebec and its citizens against unfair and harmful measures like the ones in Bill C‑69.