Mr. Speaker, I am thrilled that my hon. colleague was not asked any questions. Obviously, everyone was so enamored by what he said and recognized the importance of his message that they did not have any questions. I want to move on from that and talk about the budget.
First, I decry the fact that it took so long to get a budget last fall, two years away from when we had the last budget. A lot of things have changed that had to change. A lot of things could have been addressed and should have been addressed long before this budget came about.
I want to focus on a couple of the things that were not addressed in the budget. I think that is very significant. Sometimes it is what is not said and what is not in the budget that is more important than what is in the budget. I want to refer in particular to the lack of attention given to seniors' issues in this budget .
I think we all know there will be a major shift in the composition of our population. An increasing proportion of our population are seniors. What is happening these days is really interesting. This morning I picked up a number of news articles on seniors' issues. One of them mentioned the fact that old is cool is sort of the new situation. It used two very good examples, which I think all of us know. It spoke, for example, of Regis Philbin, the Who Wants To Be A Millionaire? host, who is 69 years old. Barbara Walters, who is probably one of the world's great interviewers, is 70 years old and sought after by all the networks. Therefore, old is cool. It is a very interesting world that is out there. I think we are all getting there at exactly the same rate and this is what will happen.
The interesting thing about seniors is that they are a very knowledgeable group. It has been my responsibility for the last little while to concentrate on this issue. I have travelled across Canada and met with various constituents in various cities across Canada. I have discovered that seniors are very knowledgeable and very capable people. There is hardly anything that happens in our economy or in our society that they do not have an interest in or that they do not have considerable knowledge of and experience in.
I have made a list of some of the issues that they consider to be the most important. The way we conducted some of these meetings was simply to ask them what major issues were of concern to them. Health care came up right at the top.
What were some of the things that they were really concerned about? One was the portability of medicare between provinces. Another was the five principles of the Canada Health Act that the Minister of Health has just pontificated upon and assured us are all there. In every case where we met with these people they told us that although those principles are in the Canada Health Act they do not see them in operation. That is part of the big problem here.
I think it is like what my hon. colleague just had to say regarding tax cuts: we have not seen them yet and we have not experienced them.
This is what is happening. Health care is a major issue.
Another issue was taxes. The hon. member has talked already about the fact that taxes are too high. Also there is a cascading effect. A lot of these seniors are on fixed incomes. As a consequence, as the cost of these various articles and services they must buy increases, they are at an increasing disadvantage because of that.
Care facilities is another big issue that seniors are concerned about. They were talking about institutional care. There are a variety of institutions that look after our seniors. First, there is a shortage in the number of such available institutions. Then there is a problem developing the standards in these institutions and maintaining them. None of this even comes close to being addressed in the budget.
There was some talk about perhaps cutting some taxes a bit but not enough. Therefore, the seniors are still at a disadvantage. I will refer to a number of these a little later.
Home care is another issue. Seniors prefer to be looked after in their home if they are not well. It is less costly, more effective and more efficient. Yet that is not an issue that is a priority with the federal government.
Smart Houses are now getting to the point where they can actually monitor what is happening to those who are chronically ill and should not go to an active treatment place but could be monitored at home through Smart House installations.
Those kinds of things ought to have been given attention but they were not.
Another issue is with regard to economic matters and that has a much broader scope. I want to talk a bit about interest rates. During the last little while we have seen interest rates drop and this has been a tremendous advantage to those individuals who are borrowing money. The cost of mortgages has gone down and interest rates are at a 41 year low. This however has also reduced the amount of interest paid on GICs.
In Ontario for example, senior tenants are being hit this year with a 3.9% rental increase. A five year GIC is currently paying a return of 3.65%. If this GIC was being held outside of an RRSP and taxed under the income tax regime, this 3.9% rental increase for seniors becomes a very serious issue. This is a major issue for people who are in the senior age bracket. The president of the 55 plus group says that many seniors are shorting themselves on the purchase of food in order to pay their rent.
I want to move on to the issue of the declining dollar and its effect on seniors. Our dollar does not allow them to buy as much as they would like to buy. I owe Michael Walker of the Fraser Institute a major debt of thanks because he capsulized this in a very significant way. He wrote the following in yesterday's National Post :
The level of the dollar only matters if Canadians want to travel outside Canada, purchase products from foreigners, ensure our capital assets are being sold at a price which reflects their value, avoid the pernicious dynamics of the peso effect, provide a stable environment for business and retirement planning and ensure our internal policy choices regarding taxation, labour market regulations and redistribution meet the test of international best practice. Otherwise, the value of the dollar doesn't matter.
What is not affected by the value of the Canadian dollar? He beautifully summarized the situation with our weak Canadian dollar. When the Prime Minister said that the Canadian dollar is good for Canadians, he was taking a very short sighted view of the situation. The governor of the Bank of Canada, the Minister of Finance and the Prime Minister have all said that the Canadian dollar should have a higher value than is being accorded to it in the marketplace. These are empty words. They talk about economics and use a lot of words, but where is the action? Yesterday the value of the dollar rose slightly but it is still on the downside. This is a blip which I am sure will reverse shortly.
I would like to move into the area of pensions. The budget did not deal with this in any appreciable way whatsoever. The guaranteed income supplement is available for those seniors who are particularly short of income. The department's own officials said that a minimum of 250,000 seniors qualify for the guaranteed income supplement but do not get it.
We need to make changes that provide those types of things to people who legitimately qualify. We must make changes that allow them easy access to these programs. We must do it in an economic climate that provides them with a standard of living that remains constant. However that is not the case. All of us have experienced a drop in our standard of living, but the standard of living for seniors has dropped to a greater degree than others. There was a grave deficiency in the budget and I wished to register that fact.