House of Commons photoWon his last election, in 2011, with 58% of the vote.
Infrastructure November 27th, 2006
Mr. Speaker, so that the member is clear in what is being proposed, in projects of national economic significance the proponents will be asked to consider public private partnerships which have been done around the world and are being done now in British Columbia, Ontario and other places in Canada. This is an obligation to consider an option in the best interests of the best financing available for large public projects in Canada.
The Economy November 27th, 2006
Mr. Speaker, as I am sure the member opposite knows, the Minister of Industry has that power under the Foreign Investment Review Act to ensure the best interests of Canada and the net interests of Canada. It is important that we protect Canada and we protect Canada's assets in certain circumstances where foreign state controlled interests might be involved.
The Economy November 27th, 2006
Mr. Speaker, we are a trading nation. We are one of the great trading nations of the world and we intend to continue that practice. There are foreign investment reviews as the member opposite knows. There is concern from time to time, were it to happen, that a state controlled enterprise would be interested in acquiring assets in Canada. That is something that we would review in the normal course.
The Economy November 27th, 2006
Mr. Speaker, the member, I am sure, has forgotten, and that must be why. He should look at page 67 of his fiscal update last year to see how he used net debt at that time.
On tax reduction, we will guarantee tax reductions each and every year going forward. About his purported tax reductions, I do not know if that was budget number one, or the budget that was done in the hotel room in Toronto with the NDP, or the wish list of last November.
The member should relax. He is going to hurt himself.
The Economy November 27th, 2006
Mr. Speaker, the net debt will be eliminated by 2021. That is exactly the same measure the member for Wascana used last year in his fiscal update. He should be careful about calling himself names.
The Economy November 27th, 2006
Mr. Speaker, the member opposite should look at the document we produced on Thursday and see that it is better to have more information for the people of Canada than less. We published the four private sector forecasters and we set out clearly what they said. In addition, for the first time, we gave the view of the Government of Canada. That is more information, not less.
The Economy November 27th, 2006
Mr. Speaker, the hon. member has his facts wrong. When I was finance minister provincially, we had a surplus and we ensured that we had a surplus, just as we do federally.
I do say to the member opposite--
The Economy November 27th, 2006
Mr. Speaker, it is just the opposite. We are determined to eliminate the net debt and to guarantee tax reductions each and every year for Canadians.
What was new in the update was the Department of Finance offered its own government view, which had not been done before. This was in addition to the projections by the private sector forecasters. That is a new step in transparency, openness and accountability to the people of Canada.
The Economy November 27th, 2006
Mr. Speaker, it is good to hear the member for Markham—Unionville quote the National Post.
The concept of net debt is not foreign to the party opposite. In the fiscal update last year, on page 67, there is a table comparing Canada's total government net debt to other G-7 countries. The member's own government used those figures a year ago. It is a worthy goal for our country to eliminate net debt by 2021.
The Economy November 27th, 2006
Mr. Speaker, I believe what the member is referring to is the idea of net debt, that is assets and liabilities being even. That is where we want to go. We want to accomplish the elimination of the net debt in Canada by 2021. That will mean we have to reduce taxes each year. We will do that with the savings we get by reducing debt each year.
That is a tax back guarantee for Canadians, as has been done in Sweden, as has been done in Australia, as has been done in New Zealand, accomplishing the elimination of net debt.