Jim Flaherty

[Securities, March 20th, 2007]

Mr. Speaker, the efficacy of capital markets is very important in Canada to help encourage jobs and investment.

I have had constructive discussions with my provincial colleagues with respect to that issue. This is not an issue dealing with the creation of any sort of national federal entity. It is an issue relating to the creation of a common securities regulator shared by all of us who are in government, the various governments in Canada.

This would help put us in a position to have a stronger economic union and to move toward more free trade in securities, not only in North America but in the G-7.

[The Budget, March 20th, 2007]

Mr. Speaker, one of the most important industries in New Brunswick is the forestry industry. I want to point out again the capital cost allowance measure that we took yesterday which is dramatic. Over the course of just two years, manufacturing and processing industries, like the pulp and paper industry, will be able to totally write off new machinery and equipment.

Here is what the industry says about it. Avrim Lazar from the Forest Products Association of Canada says:

The Government has sent a strong signal that it understands the need to encourage investment and innovation to keep jobs in Canada. (...) This is good news for the hundreds of thousands of Canadians who work in the manufacturing sector and the hundreds of communities across--

[The Budget, March 20th, 2007]

Mr. Speaker, I really encourage the hon. member to read the budget. I know springtime is coming to Ottawa and it is an exciting time for everybody but there is time to read the budget.

If the member reads the budget he will see that we have dealt with the GST issue for tours and conventions. Read the budget. If he reads budget 2006 and budget 2007 he will see $1 billion for pine beetles. Read the budget. If he reads the budget for 2006 and 2007 he will see $1 billion for the Pacific Gateway.

Read the budget. The answers are there.

[The Budget, March 20th, 2007]

Mr. Speaker, if the member has the opportunity to review the budget she will see that there were no corporate tax cuts in yesterday's budget. In fact, it was pointed out rather vociferously by some in the press today that those tax cuts were not there.

We deliberately chose to help working families in Canada. We also chose to reduce capital cost allowances dramatically with respect to manufacturing and processing industries in Canada because we want to help them generate jobs and stay strong in the manufacturing sector that has been under some duress.

However, we did bring in help for people to get over the welfare wall with the working income tax benefit. I cannot believe the NDP would not support that initiative.

[The Budget, March 20th, 2007]

Mr. Speaker, as I am sure the member knows, for seniors we are moving the age of converting RRSPs to RRIFs from age 69 to age 71 after the previous Liberal government moved it down from age 71 to age 69.

We are also taking the historic step of permitting income pension splitting for seniors and pensioners in Canada. It is a huge tax change that will benefit seniors to the extent of more than $750 million.

We are increasing the old age credit as well by $1,000. All of these measures assist seniors in Canada. I cannot understand why the NDP would not support these measures.

[The Budget, March 20th, 2007]

Mr. Speaker, not only is there a historic level of funding for infrastructure confirmed in this budget of, as I said, $33 billion over the course of the next several years for infrastructure, rebuilding the infrastructure of Canada neglected by the party opposite for 13 years, but also there are important social programs that I am sure the member for Labrador cares about, like the working income tax benefit, WITB, which will help people get over the welfare wall, including aboriginal Canadians.

This is an issue that has been raised often by Chief Fontaine and other aboriginal leaders.

[The Budget, March 20th, 2007]

Mr. Speaker--

[The Budget, March 20th, 2007]

Mr. Speaker, we took great care, as we did in the autumn, to ensure that budget secrecy and budget confidentiality was maintained, and they were.

[The Budget, March 20th, 2007]

Mr. Speaker, as the Prime Minister has already indicated, we are moving increasingly toward taking care of our own jurisdiction, taking care of our own constitutional responsibilities.

For too many years under the previous government, actually 13 years to be exact, there was meddling by the federal government in areas that were clearly provincial jurisdictions.

I know the members opposite do not believe there is fiscal imbalance, but part of moving from fiscal imbalance to fiscal balance is the sorting out of responsibilities, which we are attempting to do.

[The Budget, March 20th, 2007]

Mr. Speaker, there is a record historic allowance for infrastructure in the budget in the amount of $33 billion to help rebuild Canada. It is in the great tradition of national projects by Canadian pioneers. There is money for infrastructure for the environment to help build an east-west hydroelectric grid in Canada. These are great national projects requiring large sums of money committed over a long period of time. That has been done to the tune of $33 billion.