Francesco Sorbara

[Government Programs, December 14th, 2022]

Mr. Speaker, as the son of immigrants, I say that it is embedded in us to seize every opportunity to work hard, give back to our communities and continue building a better Canada that works for everyone. This is a simple teaching that has become a beacon for many, and a reason for the residents of Mississauga—Lakeshore to elect a new MP, my dear friend Charles Sousa.

On this side of the house we know that a prosperous future for all Canadians requires responsible leadership and targeted support. That is why we show up. Our Prime Minister was in Mississauga—Lakeshore, unlike the Leader of the Opposition. Plainly and simply, our government has been there for Canadians through every challenge by putting more money back in their pockets when they need it most.

Our commitment is unwavering. This Christmas, families in Mississauga—Lakeshore, Vaughan—Woodbridge and across the country will continue to receive direct support from the programs our government has put forward, programs the people of Mississauga—Lakeshore clearly support.

To all Canadians, and those residents in my riding of Vaughan—Woodbridge, I thank them for a year led by their generosity and compassion.

Merry Christmas, buon natale and happy new year.

[Business of Supply, December 8th, 2022]

Madam Speaker, I am very good friends with the member for Chatham-Kent—Leamington, and it has been an honour to get to know him these last several months. We have many mutual friends in that area.

The financial ratios and our AAA credit rating speak for themselves. Ever since the Liberals reobtained our AAA credit rating many years ago, we have ensured that our financial foundations are strong for today, for tomorrow and for future generations with the lowest debt-to-GDP ratio and lowest deficit-to-GDP ratio. The numbers speak for themselves.

We will continue to put in place the programs to support Canadian families, and we will continue to put into place the programs to support investment in job creation here in Canada.

[Business of Supply, December 8th, 2022]

Madam Speaker, the hon. member always has insightful commentary. I have had the opportunity to travel with the member for a number of days, and I got to know him as well at committee. I consider him a friend.

Our government will continue to put in place measures that will continue to help Canadians deal with the affordability issues we see due to global inflation. We will continue to move this economy forward. We will continue to create good jobs and good futures for Canadian families across this beautiful country that we are blessed to call home.

[Business of Supply, December 8th, 2022]

Madam Speaker, I thank my colleague for his question this afternoon. As regards housing and the cost of living across the country, it is very important to bring in measures to help all Canadians.

On the housing front, with the measures put in place by the fall economic statement, some of which will flow through Bill C-32 and the upcoming housing accelerator fund, we will work with all levels of government to ensure that the housing supply is boosted for Canadian families, for first-time buyers and for Canadians from coast to coast to coast.

[Business of Supply, December 8th, 2022]

Mr. Speaker, it is great to recommence speaking to such an important topic, but also on our government's record of assisting Canadians at this period of time.

Our government is well aware that many Canadians are struggling to put food on the table during this period of high inflation. We go to the grocery store and cannot help but feel discouraged to see the price of the food we eat every day continue to rise. Milk, meat, bread, fruit and vegetables all cost more now. Many families across the country are struggling to make ends meet these days because of inflation.

However, it is important to remember that inflation is a global phenomenon, and food inflation is no exception. It is the result of the COVID-19 pandemic, and has been exacerbated by Vladimir Putin's illegal and barbaric war in Ukraine. To make things worse, snarled supply chains are affecting people and businesses around the world.

However, there is some room for hope in Canada. While inflation was 8.1% in June, it is now down to 6.9%, lower than what we see in many peer economies. For example, in the United States, it is at 7.7%. The EU is in double digits at 10%, and in the United Kingdom is 11.1 %. Still, inflation at 6.9% in Canada is too high.

I do personally, as an economist, forecast inflation going down in the quarters ahead, which will bring much needed relief to Canadian families.

On the bright side of things, as we are all bracing for a global economic slowdown, I believe there is no country better placed than Canada to weather the coming global economic slowdown and thrive in the years ahead. Indeed, Canada has an unemployment rate near its record low, as more than 500,000 more Canadians are working today than at the beginning the pandemic. We also have the strongest economic growth in the G7 so far this year and the lowest net debt and deficit-to-GDP ratios in the G7. On top of that, our country maintains its AAA credit rating from all three rating agencies.

However, we understand that a large number of Canadians will continue to struggle. The next few months will be difficult for our friends, families and neighbours because of inflation.

Many Canadians need help to get through the crisis, and our government is there for them. For example, with our affordability plan, we are putting forward a suite of measures totalling $12.1 billion to help Canadians make ends meet and provide for their families.

It is important to note that the measures we are putting forward are not pouring unnecessary fuel on the inflation fire. They only provide targeted, fiscally responsible help to those who need it most.

I would like to remind my colleagues what our affordability plan has to offer. It would enhance the Canada workers benefit and put up to $2,400 more in the pockets of modest-income families. That would assist nearly three million Canadian workers on a yearly basis.

We will cut regulated child care fees by an average of 50% by the end of this year. As I noted in the first two minutes of my speech prior to question period, my family received news that, for little Leia, who is in day care now, the fees have been reduced by 25% and a further 25% will occur by the end of the year. That is great news for not only my family, and we are quite blessed, but also for families who need that assistance and help.

There is a 10% increase in old age security, which we had put in prior to the increase in global inflation. This will be $800 more for over three million seniors aged 75 and up who need it the most.

Regarding dental care, over 35,000 Canadians have signed up for their children under 12. These Canadians have incomes under $90,000 a year and do not have private insurance.

We will make a $500 payment to 1.8 million low-income renters who are struggling with the cost of housing.

There is the doubling of the GST credit for six months, which is providing additional relief to 11 million individuals and families.

Everything is indexed to inflation. As I mentioned earlier this week, when speaking to Bill C-32, then finance minister Paul Martin introduced the indexation of all benefits of all marginal income tax rates to avoid what is called “tax creep” due to inflation. It was very important. It was one of the largest tax cuts ever introduced in Canadian history and provided a boost to incomes. It is great to see that continue.

When we think about the increase in the cost of living, it is due to the cost of groceries, of course, but it is also due to the cost of housing. Our government believes that everyone should have a safe and affordable place to call home. That goal was taken as a given for previous generations, but it is increasingly out of reach for far too many Canadians. Rents continue to climb across the country, pushing people further and further away from where they work.

With Bill C-31, we move forward with a one-time top-up to the Canada housing program. This will provide a tax-free payment of $500 to low-income renters, and 1.8 million Canadians will receive this. This payment will provide direct assistance to those who are most vulnerable to inflation and those experiencing housing difficulties.

These 1.8 million low-income renters include students who are struggling to pay for housing, and they will be eligible for this new assistance. This one-time top-up is part of a broader set of initiatives introduced in budget 2022. It will invest more than $9 billion to help make housing more affordable, including by alleviating the supply shortage, which is one of the main causes of the high cost of housing, particularly in the GTA.

In addition, with Bill C‑32, our government is moving forward with its ambitious package of measures to build more homes and make housing more affordable across the country.

In order to help Canadians afford a down payment faster, Bill C-32 proposes to move forward with a new tax-free home savings account. This account would allow prospective first-time homebuyers to save up to $40,000 tax-free toward buying their first home.

As with the registered retirement savings plan, or RRSP, contributions would be tax deductible and, as with the tax-free savings account, or TFSA, withdrawals would be non-taxable. The tax-free first home savings account is a new tool that will help prospective first-time homebuyers save for a down payment.

We will also enhance the first-time homebuyers' tax credit. The professional fees associated with real estate transactions are another hurdle. That is why we are proposing to double the first-time homebuyers' tax credit. The enhanced credit would provide up to $1,500.

I know my time is winding up, so I will stop there. I look forward to questions and comments from my hon. colleagues from all sides of this hon. place.

[Business of Supply, December 8th, 2022]

Madam Speaker, I know that all my hon. colleagues in the House are very excited for question period to begin so I will just say a few remarks and then turn it back to you.

As many of us in the House know, the early learning and national child care agreement has come into application across the country. I know my family is quite blessed in many ways. The impact for us is a positive one. Our little one, who is 13 months old, just started day care this week. We received notification about the fees for that day care, which has been in existence for about 30 years.

First, I want to give a shout-out to all the early childhood educators taking care of kids across the country. I would also like to give a shout-out to our government. This accord is so transformational for families across the country.

We are very blessed as a family and we can cover our fees without issue, but the fees have gone down 25% and there will be a further 25% reduction. For families across Canada, these reductions in child care fees and the after-tax savings for families is because of the child care agreement that our government negotiated with all provinces and territories. This is transformational for families and it is transformational for our economy, participation rates and so forth. I wish to applaud the government. I am very proud that our government was able to sign these agreements.

[Fall Economic Statement Implementation Act, 2022, December 5th, 2022]

Mr. Speaker, North Island—Powell River is a very beautiful part of this country. First of all, if any member of Parliament has ideas, I am one who believes in building consensus and working across party lines. With regard to ideas they wish to submit to the Minister of Housing and Diversity and Inclusion, I encourage them to do so. Our housing plan is robust. A number of announcements have been made in rural and semi-rural Canada with regard to the rapid housing initiative. There are a number of initiatives we have expanded and invested in to deal with the situation regarding housing today here in Canada.

[Fall Economic Statement Implementation Act, 2022, December 5th, 2022]

Mr. Speaker, I want to thank my colleague for his question.

I will say that it was great to see the announcement from General Motors about the nickel that will be mined and processed in Quebec for utilization in electric vehicle batteries. At one time, the province of Quebec had an auto facility in Sainte-Thérèse. It would be great to see an auto facility be located there in the future. Who knows? I know the Minister of Innovation, Science and Industry is in Europe right now speaking to auto companies. Quebec has the resources, the human capital and the natural resources for that.

In a transitioning world, we must look at all parts of Canada to locate not only where to extract the minerals or resources, but also where the processing, manufacturing and the assembly would be. Today, in Ontario for the first time, we have seen the first electric vehicle roll off the CAMI plant in Ingersoll. This is a good step, not only for the province of Ontario, but also for all of Canada.

[Fall Economic Statement Implementation Act, 2022, December 5th, 2022]

Mr. Speaker, we do know that a number of the programs we have put in place have helped, for example, the Canada child benefit has lifted literally hundreds of thousands of Canadians out of poverty. In reference to homelessness metrics, if there is one person in Canada who is homeless, that is one too many. Our government knows that. I think all of us here as legislators know that.

We must continue to come up with and implement effective solutions to dealing with homelessness problems. Many of them are connected, obviously, to mental health issues. We know how big of an issue that is for Canadians.

We have work to do. We are doing work. We are being compassionate about this. We are being effective, but we have work to do.

[Fall Economic Statement Implementation Act, 2022, December 5th, 2022]

Mr. Speaker, it is always a pleasure to rise to speak to the government's agenda. Today my comments will reflect upon the government's fall economic statement and the measures in Bill C-32, the fall economic statement implementation act, which comes at a critical juncture in the history of Canada and the world, at a time when global energy trade flows and trade flows in general, as well as economic and military alliances, are all being reshaped, and some are being tested.

Before I discuss some of the key themes in Bill C-32, I wish to say it is always a pleasure and privilege to rise on behalf of the residents of Vaughan—Woodbridge and the city of Vaughan, who, in my view, are the most entrepreneurial and generous in the country. In fact, the city of Vaughan's entrepreneurial spirit is seen on a daily basis through its over 19,000 businesses, which contribute every day to Canada's success. These entrepreneurs and business leaders take risks, make investments, generate wealth and create jobs and futures, all the while demonstrating a spirit of generosity that is unrivalled.

For example, the city of Vaughan is home to the first net new hospital to be built in Ontario in over 30 years, the $1.8-billion Cortellucci Vaughan Hospital. Our community was given a task, a goal, to raise $250 million for the Cortellucci Vaughan Hospital and, in a very few short years, it surpassed that target.

For me, the idea is that individuals desire to create wealth. What does that imply? Wealth creation is at the heart of capitalism. It is at the heart of the market system that drives our economy, raises our standard of living and creates jobs and futures for the residents not only of my riding of Vaughan—Woodbridge, but also throughout this blessed country. This notion of wealth creation through trade, investment, done within a democratic system that protects the environment and our health, has lifted billions of people out of poverty around the world and brought with it technological and scientific innovations that continue to move us forward as a country and as a world.

Bill C-32 contains the core elements of the fall economic statement, which sets Canada up for success in the coming years by addressing the needs of Canadians today in the context of an inflationary environment. It also thoughtfully addresses the economic transition occurring in the global economy by responding to the competitive challenges laid out by the Biden administration through several pieces of legislation, including the Inflation Reduction Act, all the while ensuring Canada's strong fiscal framework remains intact for today's generations and future generations, including the three children I am blessed with. In economy speak, our AAA ratings are intact, reflective of what is noted as high economic strength and very strong institutional and government framework, in addition to a very effective fiscal policy framework.

Since our government's mandate from the citizens of this blessed country in 2015, we have made a commitment to strengthen the middle class and help those working hard to join the middle class. We know that the last few years have not been easy for many Canadians, including those most impacted by inflationary pressures, much of it brought on by global causes. Our government responded, and in Bill C-32 our response is laid out for Canadians. It is to help Canadians deal with inflationary pressures through an affordability plan that demonstrates responsible leadership.

Here is what we did and what we are doing to help Canadians. We are doubling the GST tax credit for six months, benefiting over 11 million Canadian households to the tune of $2.5 billion in support. We are providing a $500 top-up to the Canada housing benefit to low-income renters from coast to coast to coast. That is a $500 one-time top-up to 1.8 million renters.

We are providing an automatic advance for the Canada workers benefit, a non-refundable tax credit, which is one of the most effective policy instruments, will provide a top-up to income, a benefit that is received by nearly three million hard-working Canadians. This measure would provide over $4 billion over the next six years starting in 2022-23 to be paid in quarterly installments ahead of time, assisting Canadians when they need it most.

We are providing the Canada dental benefit, as we committed to. The first interim step is to ensure that Canadian families without insurance, means-tested, will receive funding up to $1,300 over two years for their children under 12 years of age.

This is only the first step. I cannot wait to have this measure brought in to help my hard-working seniors, those who have now retired, who built this country, who sacrificed and who need assistance when they do not have dental insurance after they retire.

We are eliminating interest on federal student loans and apprenticeship loans. This would be a savings for students and their families, assisting families today and into the future, of $2.7 billion over five years and $550 million on an ongoing basis.

There is the Canada-wide early learning and child care agreement. This is personal for me because our family just received notice that the fees are going down for our daughter at the day care we have her enrolled in, which is a day care that has been in Woodbridge for 30 years and is run by great staff. It is such a loving environment. We are so happy our daughter is there. My family is blessed tremendously in many ways. We have been blessed with three beautiful daughters. We have been blessed with a livelihood and support from our families.

This is a savings for us, but really this is going to be a savings for so many hard-working families out there from coast to coast to coast. This is real change. Not only do we have the Canada child benefit to the tune of $26 billion, which is paid out tax-free monthly, and not sent to millionaires anymore, but now we also have an early learning and national day care plan that will assist families from coast to coast to coast and reduce expenses. At one time, when our first daughter went to day care, we were paying nearly $2,000 a month, prior to me being elected in 2015, for day care on an after-tax basis in the city of Toronto.

Thankfully, our government has responded, and we have been able to put in a full indexation of credits and benefits. For this I have to give credit to another Liberal finance minister Paul Martin, who, on October 18, 2000, brought in a budget where tax brackets were fully indexed and where the credits for the GIS, OAS and CPP were fully indexed. This was to protect against bracket creep, which is an economics or tax term. We know that inflation impacts Canadians everywhere, and if these tax brackets were not indexed, bracket creep and inflation would be a major tax on individuals. Thankfully, under former Liberal finance minister Paul Martin, we indexed everything.

These measures are great for today, but what is the plan for tomorrow? One side of this plan is that, today, the Prime Minister was in Ingersoll, Ontario, at the General Motor’s CAMI production plant, to see the first electric commercial vehicle roll off its production facility today. It is the first large-scale plant in Canada making electric vehicles. This is great news for GM workers, their families, the environment and Canada's economy. We were just ranked number two in the battery supply chain, as measured by one of the indexes that Bloomberg uses. Canada is positioned nicely, I would even say sweetly, to be a provider and supplier of choice in electric vehicles along the entire supply chain continuum.

The decisions we make today as legislators will affect us for many decades to come in the economic transition to a low-carbon economy with, for example, electric vehicles, and with regard to our strong fiscal framework.

I am glad to see that, in this fall economic statement, we would be following through with enlarging the small business tax credit. We had reduced it to 9%. Now we would enlarge it so that more businesses are captured within it. It is a several hundred million dollar benefit to our SMEs, our hard-working small businesses. We know that, at a lower business tax rate, they would be able to invest more into their workers and their facilities, and create more wealth and more jobs, and that is what it is all about.

I am so happy to see that we have a critical minerals exploration tax credit of 30%. Again, that is in the fall economic statement.

There are a number of measures on the housing front. I look forward to seeing the details of the housing accelerator fund. We know we need to build housing. In my riding, in the city, we have 14,000 units being built by the Vaughan Metropolitan Centre, where the subway comes from the city of Toronto into the city of Vaughan. I know there is an application for another 7,000 units on the other side of the 400 highway that will be going to city council and that I will be opining on personally.

We know that we need to move Canada forward. The fall economic statement and the measures in Bill C-32 not only respond to our competitive challenges with respect to the United States, China and other countries, but also ensure we show compassion to Canadian families at a time when they are facing inflationary pressures.