House of Commons photoWon his last election, in 2011, with 58% of the vote.
Financial Institutions May 9th, 2012
Mr. Speaker, to the contrary, the code of conduct is working. It is working because there is compliance by all parties with the code of conduct. They all know full well that if they breach the code, we will move to regulation. They know that and they follow the code. There have been a couple of instances of breach; we have brought them to the relevant parties' attention, and they have corrected it.
The code works. It was created by all parties in the credit card system.
Financial Institutions May 8th, 2012
Mr. Speaker, we have worked hard for a long time to develop the credit card code of conduct. This involved consultations with consumer groups and small business groups. It has been very well received by the various business groups, particularly the small business groups. It is a way of regulating the market in a voluntary way.
We have made it clear that there must be compliance. I am happy to say there has been general compliance. We have had a couple of instances where we have stepped in, but then we have had compliance to the credit card code of conduct.
Financial Institutions May 8th, 2012
Mr. Speaker, we developed the credit card code of conduct with the support of consumer associations and the Canadian Federation of Independent Business and the New Democratic Party voted against it. That is what we have done. The opposition, of course, has done nothing.
The case to which the hon. member refers is before the Competition Tribunal. It raises specific issues between various parties and the tribunal will deal with them in the normal course.
The Budget May 8th, 2012
Mr. Speaker, I am sure the member opposite has read what the economists in Canada and elsewhere have said about the budget and how economic action plan 2012 continues Canada in the right direction toward jobs, growth and prosperity.
Yes, there are modest spending reductions over the course of three years built into the budget. If hon. members want to see drama, they should go to the United Kingdom, or watch what the United States will be obliged to do when it tries to get its house in order. We never want Canada to be in that place. That is why we have moderate spending reductions, returning to balanced budgets in the medium term.
The Budget May 8th, 2012
Mr. Speaker, the context of the budget is an effort to continue the economic recovery, jobs and growth and prosperity in Canada.
As the member opposite knows, Canada has done relatively well. Coming out of the great recession, we have about 700,000 net new jobs in Canada, the best job growth in any industrialized country in the G7. We have done rather well, but we need the long-term plan to get back to balanced budgets and have sustainable programs in the long term so Canada can maintain its record of jobs, growth and long-term prosperity.
The Budget May 7th, 2012
I certainly will, Mr. Speaker, and I thank the hard-working member for York Centre for the question.
Canada's leading economists have lauded economic action plan 2012. Patricia Croft, the economist, said, “[Budget 2012’s] initiatives in the job front and addressing the demographic challenge.... In both regards I’d have to give the budget probably an ‘A’.... In a global context, I think Canada is in a fabulous position”.
Avery Shenfeld, chief economist, CIBC, said budget 2012 “...makes sense in a world economy that is still not what we would like it to be.... Relative to what anybody else is doing, we still”—
The Budget May 7th, 2012
Mr. Speaker, economic action plan 2012, which is the budget, is all about promoting jobs and growth and long-term prosperity in Canada. We are on a good track. We have almost 700,000 net new jobs in Canada since the end of the great recession in July 2009, but the world economic recovery is fragile. We need to move forward with the budget. That is why, just as every other year, there is a big budget bill in the spring and there will be another one in the fall. I look forward to full debate in this place and in committee, but it is all about jobs and growth. We need to remember that.
The Budget May 7th, 2012
Mr. Speaker, economic action plan 2012, which is the budget, is a major plan for jobs, growth and long-term prosperity in Canada. It is a large budget. It was rejected by both of the opposition parties within a few hours of the budget being announced on March 29. A large budget begets large budget bills.
There is the bill before the House. As usual, there will be another bill in the autumn, another large budget bill for jobs, growth and prosperity in Canada.
Finance May 3rd, 2012
Mr. Speaker, it is the requirement now that all federally regulated financial institutions, the banks, have a dispute resolution process. We passed legislation with respect to that. All of the banks do have a dispute resolution process and we are formulating the regulations. As the government, we will make the rules and we expect the banks to follow.
The Economy May 2nd, 2012
Mr. Speaker, on the first anniversary of this Conservative majority government, Canada has the best fiscal position in the G7, the lowest overall tax rate on new business investment in the G7, the strongest job creation record in the G7, the best financial system in the world. It is the best place for business to invest, grow and create jobs, and has the highest credit rating in the world.
We will remain focused on jobs, the economy and long-term prosperity for all Canadians.