House of Commons photoWon his last election, in 2006, with 55% of the vote.
Monetary Policy November 9th, 2001
Mr. Speaker, what we are not going to do is adopt the Bloc Quebecois' fiscal policy.
They have called for $5 billion in stimulation programs and $8 billion in tax point transfers, which would put us in a deficit situation.
I would refer to Quebec's Minister of Finance, Pauline Marois, who said “I want nothing to do with deficits. This is a very touchy issue for Quebecers. They do not want to go back to a deficit”. He should listen to his head office.
Monetary Policy November 9th, 2001
Absolutely not, Mr. Speaker. We will not give up the right to have our own monetary policy. We will not give up the right to be able to establish Canadian rates of interest.
When there are conflicts between the value of the dollar and jobs, we will always put jobs for Canadians first.
The Economy November 9th, 2001
Mr. Speaker, it would be totally inappropriate for me to comment on specific actions. This is within the purview of the police.
Let me say that yesterday the member for Calgary Southeast said, on the Lowell Green radio talk show, “We have had a good run. We have had 10 years of good economic growth”. For the first time in 10 years I agree with the member for Calgary Southeast.
The Economy November 9th, 2001
Mr. Speaker, it is quite true that the global economic slowdown is causing pressures.
Let me tell the hon. member what is not weighing adversely and downward on the dollar. It is not our sound monetary policy. It is not our record pay down of debt. It is not our record tax cuts of $100 million.
Canada is very well positioned to deal with the current economic slowdown and to participate in the rebound that we know will come.
Ways and Means November 1st, 2001
Mr. Speaker, I rise on a point of order. I must apologize to my colleagues for interrupting this very important debate but I rise on a matter of some urgency.
Pursuant to Standing Order 83(1) I wish to table a notice of ways and means motion to amend the Customs Tariff and the Excise Tax Act to implement certain measures relating to tobacco products. We will be increasing federal taxes and, at the same time, a number of provinces will be taking complementary action. I am also tabling a backgrounder.
I ask that an order of the day be designated for consideration of the motion.
The Economy November 1st, 2001
Mr. Speaker, this is the hon. member whose program for strengthening the economy was to accelerate our tax cuts by two months. A year ago we accelerated them by three full years. Even his lame-brained suggestion was rejected by the Canadian Payroll Association as being administratively impossible.
The member calls for added stimulus. If it were in significant amounts it would drive us into deficit, and that would be fully irresponsible.
The Economy November 1st, 2001
Mr. Speaker, that is absolutely not true. Canada in terms of the G-7 is in the middle band in terms of its overall tax cuts.
We made record tax cuts of $100 billion over five years. We cut corporate taxes so that we will have corporate taxes in Canada that are about 30% compared to 36% in Michigan, 40% in New York and 41% in California. These are some of the things we have done to make sure Canada has a very competitive tax environment.
The Economy November 1st, 2001
Mr. Speaker, the hon. member does not have to accept just my word that the government has been getting its economic fundamentals right. I refer him to the world economic forum which just a couple of weeks ago published its most recent report. Canada has moved from seventh to third in terms of global competitiveness.
The Economy November 1st, 2001
Mr. Speaker, let us look at what Canada has already done. We have brought in the largest tax cut in the history of our nation. Our interest rates are the lowest that they have been in 40 years. We have paid down more than $35 billion of debt and at the same time have made major new investments in health care, education, research and innovation.
Our obligation as a government is to get our economic fundamentals right. That is what we have done and that is what we will continue to do.
Finance November 1st, 2001
Mr. Speaker, as members know, the G-20 consists of 20 countries comprising 87% of the world's GDP, 65% of the world's population and 60% of the world's poor. Chaired by the hon. Minister of Finance, the best finance minister in the world, this forum will be looking at the issues--