Jim Flaherty

[The Economy, May 27th, 2009]

Mr. Speaker, the only idea we have heard from the Liberals since the budget is their idea that taxes need to be raised. That is from the Leader of the Opposition.

However, there is another idea today. The finance critic opposite says there might be certain measures that the Conservatives are doing that the Liberals would think would not be worth doing, things that they think are not necessary. So, the question is, what would the Liberals cut? The home renovation tax credit? Infrastructure investments? Employment insurance benefits? Investments in agriculture? Health care funding like they did in the 1990s to the provinces, to the sick, to the elderly, to students and children--

[The Economy, May 27th, 2009]

Mr. Speaker, as Canadians know, we are in the midst of a global recession. It is a deeper recession than anticipated. Fortunately, as the IMF confirmed on Friday in its report on Canada, Canada entered the recession in the strongest position of any country in the G7, and Canada will exit the recession in a strong position because of the steps we have taken in Canada's economic action plan.

Canadians know this. Canadians know that we are better off than other countries. Canadians know that our financial system is solid and so is our fiscal situation.

[Employment Insurance, May 27th, 2009]

The member opposite, Mr. Speaker, is saying, I think, spend more money to help people who are losing their jobs and help them retrain. That is exactly what we did in Canada's economic action plan. Billions of dollars are being spent in the budget to support people who need retraining, who need opportunities to re-enter the workforce.

Even more than that, since the budget, given the depth of the recession, billions more are going out to help people who are losing their jobs. Is that not what the member wants?

[Employment Insurance, May 27th, 2009]

Mr. Speaker, this is just more Liberal hypocrisy. The Liberals had no ideas coming up to the budget. We asked them for their ideas for the economic action plan. We got nothing.

The only idea we have heard since the budget, since the economic action plan, is a plan to raise taxes for Canadians which is the last thing that should happen in the middle of a recession.

[The Economy, May 27th, 2009]

Mr. Speaker, we have probably the largest stimulus package in the G7. The IMF confirmed that. This is in cooperation with the provinces and the territories, which are doing even more than we asked them to do. All of the governments in this country are cooperating in order to stimulate the Canadian economy. I do not quite understand the member opposite when he says “spend more”, since he voted against the initial stimulus package.

[The Economy, May 27th, 2009]

Mr. Speaker, the economic action plan is in place. Money is flowing. Access to credit is increasing. The bond market is functioning well. Credit markets are functioning better. All of this is as a result of the economic action plan which we brought in with the earliest budget in Canadian history.

It is true that the recession is deeper than anticipated. It is true that we are spending billions of dollars more on unemployment, on people in need of benefits to help cushion the impact of the recession. We think that is the right thing to do for Canadians.

[The Economy, May 27th, 2009]

Mr. Speaker, how can the people of Canada have confidence in the Liberals when they say this would be the largest deficit in Canadian history when it is not.

The deficits in the 1980s and 1990s, as members opposite should know, if they were living in the country at the time, approached 6% of GDP. That is what was going on in the 1980s and 1990s in this country.

This deficit is more in the neighbourhood of 3% of GDP. The deficit is affordable. It is necessary for Canada. We are doing the right things now when Canadians need these things done.

[The Economy, May 27th, 2009]

Mr. Speaker, who Canadians have lost confidence in are the Liberals.

On the one hand the Liberals say, “spend more money”, and on the other hand they say, “don't run a deficit” and “don't increase the deficit”; this, from the member for Markham—Unionville who does not even know what kind of car he drives.

[Taxation, May 15th, 2009]

Mr. Speaker, this is good news. The Liberals want to raise taxes. We are lowering taxes. Our economic action plan includes tax cuts that help boost economic activity, including the home renovation tax credit. This is a tax credit whereby Canadians can invest in their homes to create jobs in construction, retail jobs, forestry jobs. Our tax incentive is encouraging Canadians to invest in their homes. According to a new survey, nearly 70% of Canadians intend to invest in home renovations this year.

[Caisse de dépôt et placement du Québec, May 15th, 2009]

Mr. Speaker, I repeat that the caisse and its investments are under the Province of Quebec's jurisdiction. In light of the crisis and some of the caisse's investments, it is clear that Canada needs a national regulation system.