House of Commons photoWon his last election, in 2011, with 58% of the vote.
The Economy March 10th, 2009
Mr. Speaker, of course we have taken on the responsibility, unlike the leader of the NDP, who did not even bother reading the economic plan for Canada before he decided to vote against it. Now, that is reckless disregard for Canadians.
This is the economic plan for Canada. We take responsibility for it. We want to implement it, and we hope the Liberal Senate will let us do that on a timely basis.
The Economy March 10th, 2009
Mr. Speaker, it is pretty clear to everybody in the world, actually, except perhaps the leader of the NDP, that there is a synchronized global recession. We can look at the GDP numbers in Japan. We can look at the decline in GDP in China. We can look at the numbers, especially in eastern Europe and western Europe as well. Canada is faring relatively well. We went into this recession with the strongest fiscal position in the G7 because we had paid down $38 billion worth of debt over the first three budgets. We are in a much better position to weather this storm than other countries.
Financial Institutions March 10th, 2009
Mr. Speaker, if the member opposite would bother to read the budget implementation bill, he would see the provisions in the bill requiring a minimum grace period on new purchases made with a credit card, improving debt collection practices, requiring clear and timely advance notice of changes in rates and fees. All of that in terms of regulatory power would be given to the Minister of Finance under the budget implementation act.
What is important, I say to the member for Pickering—Scarborough East, is that we get that bill through the Senate and get royal assent so we can help Canadians get better credit.
Financial Institutions March 10th, 2009
Mr. Speaker, of course Canadians need to have access to credit, not only access to credit but access on reasonable terms. That is why in the budget we introduced the extraordinary financing framework of up to $200 billion to help make sure that we have reasonable access to credit in this country.
I hope the member opposite will encourage the Liberal senators down the hall, whom he knows, to make sure they act this week and do not go off on holidays next week. They cannot say they have constituency work because they do not have constituencies.
The Economy March 10th, 2009
Mr. Speaker, I agree that economic times are difficult, that many Canadians are losing their jobs. That is why we have an economic plan for Canada.
We have a challenge in the Liberal dominated Senate. This is a question of leadership.
Here is a quote: ”We think it's important to pass this legislation expeditiously and I'll be talking to the Senate to make sure they get the message. We made it clear that we are not pursuing an amendment strategy here. We want this money out the door. I'll pass that message in no uncertain terms to the Senate”.
Who said that? The Leader of the Opposition. The message is not getting through. He needs to go down the hall and tell the Senate to pass the bill.
The Economy March 10th, 2009
Mr. Speaker, in fact, the Prime Minister did mention the auto sector in his remarks. I am sure the Leader of the Opposition would like to retract saying that he did not.
The reality is that in the month of December, the Premier of Ontario and the Prime Minister announced in Toronto that they would participate in trying to assist in the auto sector. Meetings have been held at the highest levels of the American administration, the former administration and the new administration of President Obama, including last Thursday in Washington, in order to try to advance this cause.
The Minister of Industry is fully engaged and we are working toward a resolution for Canadian workers.
The Economy March 10th, 2009
Mr. Speaker, the Prime Minister and his government have an economic plan for Canada, Canada's economic action plan. It is a great read. I know the members opposite want to read it. I know they have only had about five weeks to get through it. It has lots of pages and it is a big read, but I encourage the members opposite to take the time on behalf of Canada to read it. Unlike their leader, we actually have an economic action for Canada.
Financial Institutions March 9th, 2009
Mr. Speaker, in the economic action plan there are provisions that would give the Minister of Finance regulatory power with respect to certain aspects of consumer credit in Canada. I would have hoped that the member who raised the question would have voted in favour of that measure, but his party has decided to vote against it.
Financial Institutions March 9th, 2009
Mr. Speaker, as the member will know, the Bank of Canada reduced its target rate by half a point last week, by 50 basis points, and it is now down to 0.50%. The large chartered banks all followed course shortly after the announcement was made by the Governor of the Bank of Canada.
It is true, as the member knows, that there is an international credit crisis. It is fundamentally important that the European banks and the American banks segregate their bad debt, their so-called toxic assets, in order for lending to resume in something approaching normal credit in the world.
Automotive Industry March 9th, 2009
Mr. Speaker, as the member opposite knows, the Government of Ontario through Premier McGuinty and the Government of Canada through the Prime Minister made the commitment in December that we would participate in order to try to work with the Detroit three to survive.
It is good news that the union members working with General Motors have made at least a step forward. This is a major challenge not only with respect to General Motors but with respect to Chrysler and Ford as well, dealing as we must with assumptions concerning a reasonable quantum of auto sales, about legacy costs and about labour costs.