Mr. Speaker, I stand today to address Bill C-63, the budget implementation act. Today I will speak to the concerns I share with many Canadians.
In my riding this past summer, I heard from countless constituents at round tables with small and medium-sized businesses. Even though I heard from hundreds of different people, each of their situations was unique. One thing was common, Canadians are overwhelmingly concerned about how their businesses and their families will make ends meet.
My constituents of Markham—Unionville are concerned about the Liberal government's economic update. The cycle of debt and deficit is not the key to success. Sensible budgeting and limited government are what will allow our economy to flourish. The same free market principles that allow small businesses to be successful can be applied to our economy. The free market allows for optimal allocation of resources, incentives to work hard, and more freedom.
This is why I stand here today to speak against the government's out-of-control spending and huge deficits that will leave our children to pick up the bill. I stand today as the voice of taxpayers, the average Canadian, and fight every day to leave money in the hands of the people who earned it, not to be foolishly spent by the Liberal government. Businesses have to find ways to stretch a dollar but the government throws it away. We saw this foolish pattern in the previous budget, the fall economic statement, and now in the budget implementation bill. This jut confirms to Canadians that the government cannot be trusted with our nation's finances.
Let me highlight what the record shows.
First, budget 2017 projected a $28.5-billion deficit for the 2017-18 fiscal year. This is almost triple the Liberal promise of a small $10-billion deficit.
Second, the 2017 fall economic update confirmed the government was still spending double its promised small $10-billion deficit.
Third, the Liberals have broken their promise to balance the budget in 2019 and have no plan to return to balanced budgets. This is simply irresponsible.
Finally, under the Liberal government, more than 80% of middle-class Canadians are paying more taxes today than they were paying in 2015 under the former Conservative government.
It is clear that the Liberal government does not have the best interests of Canadians in mind. Bill C-63 shows us that the finance minister is good at spending other people's money. It is a shame that the government continually attacks those who create wealth, are entrepreneurial, and want to work hard to succeed. We saw this just a few months ago when the finance minister introduced tax planning using private corporations.
Canadians are scared to do business at home. There is no incentive and they are taxed out of the market. Almost every day I hear another example of an entrepreneur, a doctor, a small corporation leaving our country to do business south the border.
This trend cannot continue. We need to allow a healthy environment for businesses to flourish for our economy and in turn our country to be successful. On top of businesses leaving, the debt and deficit continue to rise. It is like the finance minister cannot help himself. The previous Conservative government did right by Canadians.
According to Finance Canada, there was a surplus of $3.2 billion at the end of 2015. The Liberals cannot accept the fact that we balanced the budget in 2014-15, and we did so ahead of our original schedule.
The last economic outlook given by the Minister of Finance showed that revenues were holding up better than expected. GDP growth in the last quarter of 2015 was also higher than expected.
The previous Conservative government created jobs during the worst economic downturn since the great recession. Canada had the best job creation and economic growth record among G7 countries.
The previous Conservative government balanced the budget. After running a targeted simultaneous program that created and maintained approximately 200,000 jobs, it kept its promise to balance the budget, and it left the Liberals with a $3.2 billion surplus at the end of 2015.
The previous Conservative government lowered taxes. We reduced taxes to their lowest point in 50 years, with a typical family of four saving almost $7,000 per year.
The previous Conservative government created approximately 1.3 million net new jobs, the most per capita in the G7. These were high-quality jobs, with 80% of them full-time and another 80% of them in the private sector.
The Prime Minister and the finance minister were lucky enough to inherit good fortune in the form of a balanced budget and a recovering economy thanks to the Conservatives. However, their carelessness and mismanagement spent this good fortune very quickly.
Here we are now halfway through the Liberal government's mandate and all we can see is that the Prime Minister is giving with one hand while taking with the other. This is not sustainable, this is not responsible, and Canadians are concerned.
In order to feed their greedy spending, the Liberals have raised taxes on hydro, gasoline, home heating, health and dental benefits, employee discounts, personal savings, life-saving therapies, and of course local businesses.
The government is hurting the very people it claims to want to help. Job creating businesses will not invest in the Canadian economy if they do not know the cost of doing business. Saddling businesses with higher taxes, changing the rules of the game when they are not looking, and handing borrowed money from one politician to another is not going to create jobs. Mom and pop shops will face higher taxes, which will put many out of business.
It is high tax hypocrisy for the Prime Minister and finance minister to force middle-class Canadians to pay for the government's out-of-control spending while their family fortunes remain untouched. Too many Canadian families are already struggling to make ends meet. They cannot afford to be taxed further.
I am in favour of free market, where people are able to get ahead by working hard. It contributes to economic freedom, prosperity, and creates a competitive market. This creates more choice for both the firm and the consumer. Free market principles and hard work are what allowed me to become a successful businessman. These principles are what inspire the Canadian dream and are the way we build a prosperous country.
Every economist knows that the only reason our economy has slowed is because companies have stopped investing. The government is stifling opportunities. This is not right. I cannot understand the current Liberal approach that more government spending, higher taxes, and regulatory uncertainty will solve this problem. I obviously cannot support the legislation. Taxpayers do not deserve this. Businesses and entrepreneurs do not deserve this. Canadians do not deserve this.