Jim Flaherty

[Forestry Industry, January 31st, 2008]

Mr. Speaker, as I am sure the hon. member knows, there have been dramatic business tax reductions in Canada brought in by the government over this year and the next five years. These are not for big business alone but for small business and medium-sized business where the new job generation is in this country. Small and medium-sized businesses account for more than half of the job growth in Canada.

I know the member wants that to happen. I know that he wants to vote for the new community trust when it is before the House.

[Manufacturing Industry, January 31st, 2008]

Relax Ralph.

That is over $50 billion over this year and the next five years.

These are important tax reductions and I want to thank the Liberal Party and its spokesman for supporting these tax reductions. As the member for Markham—Unionville said, “Corporate tax cuts are one of the best strategies to attract investment--

[Manufacturing Industry, January 31st, 2008]

Mr. Speaker, the economic fundamentals in Canada are good. They are the best economic fundamentals in the G-7 and that is after two years of government led by this Prime Minister.

What have we done over two years? The government of the day will reduce business taxes by in excess of $50 billion.

[Manufacturing and Forestry Sectors, January 31st, 2008]

Mr. Speaker, the reductions in taxes on October 30 were well received, the business taxes that is, by the corporate sector in Quebec. The manufacturers and exporters of Quebec said:

We’re pleased the Finance minister acknowledged the competitive challenges facing manufacturers.

In addition, there is the $1 billion proposal for single industry towns that are hardest hit by the rise of the Canadian dollar in reduced exports. That is an important--

[Industry, January 30th, 2008]

Mr. Speaker, cumulatively in budgets 2006 and 2007 and in the fall economic statement, there is more than $8 billion in tax relief for Canadian manufacturers, many of whom are in the province of Ontario. There is $33 billion over seven years for infrastructure. There is $1.3 billion in annual support for the provinces for skilled labour and retraining.

As the Minister of Industry has already indicated, we met yesterday again with the CEOs in the auto sector, which is an important part of the economy, to see what can be done to help them. This is--

[Industry, January 30th, 2008]

Mr. Speaker, the members opposite did something last year. When we brought in an accelerated capital cost allowance, recommended unanimously by the industry committee of the House, that manufacturers wanted, a two year 100% capital cost writeoff so that they could get machinery and be more productive, what did the member opposite and her colleagues in the Liberal Party do? They voted against it.

[Manufacturing Industry, January 30th, 2008]

Mr. Speaker, the member opposite's memory fails him.

There is a very well-known now Liberal in Ontario named Bob Rae whose government nearly bankrupted the province of Ontario from 1990 to 1995.

I would remind the member opposite also that in the last five years of the government of which he was a member, spending went up on average 8.2% per year. In one year alone, 2004-05, there was a 14.8% increase in spending. Talk about fiscal irresponsibility.

[Manufacturing Industry, January 30th, 2008]

Mr. Speaker, the member opposite's--

[Manufacturing Industry, January 30th, 2008]

Mr. Speaker, after the last Liberal budget in 2005 here is what the Canadian Manufacturers & Exporters said: “The Liberal budget fell far short of what is necessary...This is a clear example of opportunity lost”. That is the record of Liberal government in Canada.

The record since we have been in government shows that we have reduced taxes for businesses dramatically to historic lows. We also brought in an accelerated capital cost allowance, all of which the Liberals voted against if they bothered to vote.

[Manufacturing Industry, January 29th, 2008]

--economic fundamentals. These fundamentals are vitally important in terms of job creation in Canada. We have had solid job creation in every region of Canada over the course of the past two years.

Yes, there is an economic slowdown in the United States but we anticipated that slowdown. We were ahead of the curve last year with the accelerated capital cost allowance in March 2007, and over the course of the next two years 100% writeoff for new machinery and equipment.