Bill Morneau

[The Budget, March 19th, 2019]

Mr. Speaker, I want to thank you for allowing me to proceed. It has obviously been a pleasure to start this speech. I hope the House has heard the parts I have already delivered, but I want to continue from where I was.

What I was getting at was some things that we want to do in the housing market. In particular, I was talking about the fact that we want to take action to crack down on the people who break the rules, who evade taxes or use real estate for money laundering, making housing less affordable for the people who need it.

We want to help more middle-class families find an affordable home today. We are offering new, targeted support for first-time homebuyers. This includes increasing the RRSP homebuyers’ plan withdrawal limit to $35,000 from $25,000, to reflect the realities of house prices today. It includes a new initiative called the first-time homebuyer incentive, which will allow eligible first-time homebuyers to finance a portion of their home purchase through a shared equity mortgage with the Canada Mortgage and Housing Corporation, or CMHC. The incentive would give eligible buyers a new source of funds they can use to help keep their monthly costs lower—

[The Budget, March 19th, 2019]

Our government has been clear since day one. We are going to invest in the middle class and in the things that matter most to Canadians: good jobs, strong communities, a clean environment and better opportunities for future generations. We are going to make these investments to grow our economy for the long term, while we bring the books back toward balance.

When it comes to housing, we have heard from Canadians in communities of all sizes, including our largest cities, like Toronto and Vancouver. They have told us that finding an affordable place to call home is not just a challenge. For too many hard-working Canadians, especially for young people, it feels like—

[The Budget, March 19th, 2019]

We get Canadian families who are more than $2,000 better off this year, and every year, than they were back in 2015. We also get a country where the middle class is strong and growing, with an economy that works for everyone.

What we need is a concrete and responsible plan to address these very real concerns, so that we build a strong country and a strong economy that gives Canadians every chance at success—

[The Budget, March 19th, 2019]

These are just some of the highlights of three and a half years spent working hard every day to strengthen and grow the middle class and make life more affordable for hard-working Canadian families.

Compared to where we were just a few years ago, our economy is doing very well. Since November 2015, hard-working Canadians have created more than 900,000 new jobs, most of them full time. In the last year alone, of all the new jobs created, more than half, 54%, went to Canada’s talented—

[The Budget, March 19th, 2019]

Mr. Speaker, just to reiterate, when we came into government in the fall of 2015, unemployment was stubbornly high, wages were stagnant and consumer confidence was in decline. Those are the facts. That was the outcome of years of cuts.

[The Budget, March 19th, 2019]

Last week, I was back home in Toronto where I had a chance to visit with some young people at the Boys and Girls Club in Regent Park. It was March break last week, so they were pretty focused on having fun, like kids their age should be.

However, it was clear to me from their questions and from their interactions, how much they cared about each other, about their community and about the world beyond it.

It was a good reminder of what is at stake and of who is counting on us to get things right.

Today, I am happy to share our government's fourth budget entitled “Investing in the Middle Class”.

[The Budget, March 19th, 2019]

moved:

That this House approves in general the budgetary policy of the government.

Mr. Speaker—

[Ways and Means, March 19th, 2019]

Mr. Speaker, I would like to table, in both official languages, the budget documents for 2019, including the notices of ways and means motions. The details of the measures are included in these documents and I am requesting that an order of the day be designated for consideration of these motions.

I would also like to say that the lock-ups relating to the budget will be released at 4 p.m., once markets have closed, but we will be providing MPs with copies of the budget at this time. I know that members will be judicious with their privileges before 4 p.m.

[Finance, February 25th, 2019]

Mr. Speaker, I am happy to say that we have been very focused on ensuring that our housing market is effective so Canadians can not only recognize that their investment in their home is stable, but also so they can have an aspiration to acquiring a home for them and their families.

Over the last three years, we have put in measures for affordable housing across our country. We have put in measures to make sure people are protected. We will continue to think about how we can ensure that middle-class Canadians have the possibility to raise their families and have home ownership as part of that dream.

[Finance, February 20th, 2019]

Mr. Speaker, our government has made smart and responsible investments in the middle class, and Canadians are seeing concrete results.

It has had a significant impact. A typical middle-class family is $2,000 better off this year than in 2015. However, we know there is more to do.

That is why I am so pleased to announce that on March 19, we will be introducing budget 2019, the next steps in our plan to ensure middle-class optimism and an economy that works for all Canadians.