Mr. Speaker, the Caisse de dépôt et placement doubled its holdings of tainted commercial paper a few months before the crisis. The province is responsible for regulating the caisse, not the Government of Canada or Government of Canada organizations.
House of Commons photoWon his last election, in 2011, with 58% of the vote.
Caisse de dépôt et placement du Québec May 15th, 2009
Mr. Speaker, the Caisse de dépôt et placement doubled its holdings of tainted commercial paper a few months before the crisis. The province is responsible for regulating the caisse, not the Government of Canada or Government of Canada organizations.
Points of Order May 13th, 2009
Mr. Speaker, I have nothing against Subarus or who owns Subarus, but I have never owned a Subaru.
Goods and Services Tax May 13th, 2009
Mr. Speaker, the tax increase advocated by the Liberal leader would target the poorest in our society, and families and seniors. It would be the worst thing one could do in a global recession. Cutting the GST benefited all Canadians, even the one-third with incomes too low to pay income tax.
Lower taxes of course leave money in taxpayers' pockets, where it belongs. Investment helps small and large businesses. It would even make it cheaper for the member for Markham—Unionville to acquire that North American car—
The Economy May 13th, 2009
Mr. Speaker, absolutely not. The Superintendent of Financial Institutions deals in an even-handed way with our financial system in Canada with respect to the regulation of that system. Some institutions made some investments that were unwise. That is not the responsibility of the Superintendent of Financial Institutions. That is the responsibility of those who made the decisions to make the investments and they must live with their decisions.
The Economy May 13th, 2009
Mr. Speaker, I am not sure of the facts of the situation that the member opposite is describing. If he is referring to the fact that the Caisse de dépôt in Quebec had some unfortunate investments in asset-backed commercial paper, that is regrettable and it is taking the loss that followed on those investments.
Employment May 12th, 2009
Mr. Speaker, as I said, I am not given the figures until I have completed my public engagements on Thursdays and I do not refer to the figures, but I do refer to support for the economy and I do refer to support for Whitby—Oshawa.
I encourage the member opposite, who thinks he drives a North American car and then decides that he does not drive a North American car, to join me and come down to Oshawa, buy an Impala and support the Canadian economy.
Employment May 12th, 2009
Mr. Speaker, I can assure the member opposite and the House that I do not comment on the employment numbers that are going to be released the next day. What I said on Thursday last week, for example, was that I expected the numbers on Friday not to be good. In fact, they were good.
We are looking a general trend in the economy during the recession where we are going to have increasing job losses until we start to have economic growth and recovery. That is the reality. I keep the figures that I am given confidential.
Credit Card Regulations May 11th, 2009
In Canada's economic action plan, Mr. Speaker, in the budget this year, we announced we would improve disclosure requirements for credit cards, that we would limit certain business practices that are not beneficial to consumers. We have consulted on these regulations. We have consulted with consumers. We have consulted with the industry. The regulations are being drafted. They will be released shortly.
Credit Card Regulations May 11th, 2009
Mr. Speaker, in Canada's economic action plan this year we announced that there would be a regulatory power created for the Minister of Finance with respect to credit cards. The member who just asked the question voted against that provision. There will be regulations coming forward and I hope that he will read them before he decides that he does not like them.
The Economy May 11th, 2009
Mr. Speaker, I do not comment on employment numbers before the numbers are announced in the morning on the Friday.
Speaking of stupid things, I note that when the member opposite's leader commented about federal taxes and said that “We will have to raise taxes”, the member for Markham—Unionville offered his view. He said, “Everyone knows it would be idiotic to raise taxes in the middle of recession”. For once I agree with the member for Markham—Unionville.