Jim Flaherty

[Finance, June 11th, 2009]

Mr. Speaker, all of the pieces of the extraordinary financing framework are in place. Credit is flowing. In fact, because of the actions of the government, we have been able to drive down mortgage rates in the country. Residential mortgage rates are at their lowest level since the second world war, and that makes a difference. We are now seeing that stimulus create demand for housing, which means jobs in our country.

This is the economic action plan. This is what it accomplishes.

[The Economy, June 11th, 2009]

Mr. Speaker, I certainly can. After 10 weeks, we have about 80% of the measures and initiatives in the plan being implemented across Canada. This is a vast set of aggressive initiatives being implemented in record time, an unprecedented accomplishment by the public service in co-operation with the provinces and territories across the country that understand the need for this stimulus activity for these thousands of projects. I only hope the opposition can also understand.

[Infrastructure, June 11th, 2009]

Mr. Speaker, if the member opposite takes the time to read the update that was tabled in the House today, he will see the chart about real GDP growth and he will see what the private sector economists are saying in this country. He will also read what the OECD has been saying about this country and what the IMF has been saying about this country.

Canadians can be proud of the economic action plan, and they can be proud of the thousands of projects that are going forward and being implemented all across this country from coast to coast to coast.

[Infrastructure, June 11th, 2009]

Mr. Speaker, there is a global recession. Canada has an action plan that is admired around the world. It is one of the largest action plans in the G7. We have had the cooperation of the provinces and the territories in creating additional stimulus.

I am proud to tell the House that 80% of the projects are being implemented now, within 10 weeks of the budget having been passed.

[Economic Action Plan, June 11th, 2009]

Mr. Speaker, pursuant to an order of the House of Commons dated February 3, 2009, I have the honour of tabling the second report on Canada's economic action plan.

[Canada Pension Plan Investment Board, June 3rd, 2009]

Mr. Speaker, during the global recession, the G20 internationally has taken the leadership role, ensuring that we are coordinating our stimulus efforts, ensuring that we address issues like appropriate executive compensation.

That is exactly what the leaders did when they met in London not that long ago. They approved these three rules with respect to executive compensation. They are to be followed by all of the G20 countries, including Canada, and we are extending that to the public institutions in Canada.

[Canada Pension Plan Investment Board, June 3rd, 2009]

Mr. Speaker, this is not a vague set of rules. These are very specific rules that were developed by the Financial Stability Forum of the G7, which have now been adopted by the G20, by all of the leaders when they met at the London summit. They are very specific.

We have asked the CPPIB and the others who are responsible to the Crown to report back with respect to those principles, whether they are in compliance, and to confirm steps they will take, if necessary, to be in compliance.

[Government Assets, June 3rd, 2009]

Let me try to understand the Liberal opposition, Mr. Speaker. Liberals voted for the budget, Canada's economic action plan. The asset review is set out in the budget. Now they are saying they do not like an asset review.

The Liberals are saying they want fiscal responsibility, but they are saying, “Do not review expenditures. Do not review assets.” They say they want to spend more on EI but they say not to increase spending. Who in Canada can take any of them seriously?

[Government Assets, June 3rd, 2009]

This is more hypocrisy on the other side, Mr. Speaker. They are the same Liberals who in the mid-1990s cut transfers to the provinces. They cut funding for schools. They cut funding for hospitals. They cut funding for universities. They cut funding for the elderly. They cut funding for children.

This is the hypocritical position of the Liberal Party of Canada: cutting spending on the weakest in our economy.

[Government Assets, June 3rd, 2009]

Mr. Speaker, TD economists have presented one view. It is on the low side. There are other economists who are going to present other views. We are going to hear lots of views about the economy in an uncertain time.

With respect to asset review, it is prudent for any large organization to review its assets from time to time. In fact, that is the position of the Toronto-Dominion Bank's economists.