Joe Oliver

[Taxation, May 11th, 2015]

Mr. Speaker, if opposition members had risen to cheer again as they did last time I spoke, I might have thought, hope against history, that they would vote for the budget.

Our government is focused on what matters to Canadians: jobs and economic growth, with 1.2 million net new jobs created, 20% more than the G7. According to the International Labour Organization, Canada has the second best pay gains in the G20.

With a fragile economy, we must stay the course with our low-tax plan for jobs and growth.

[Taxation, April 30th, 2015]

Mr. Speaker, it is quite remarkable that the opposition does not understand that if the private sector keeps the money, the money is not lost. The money goes to investment and savings, savings for education, retirement and for a first home.

Here is a little more information, if the facts mean anything to the opposition. Half of TFSA holders earn less than $42,000 a year and 600,000 seniors with income below $60,000 are currently maximizing their TFSAs.

[Taxation, April 30th, 2015]

Mr. Speaker, the tax-free savings account, or TFSA, is an excellent way for Canadians to save money to buy a house, educate their children or build a nest egg for retirement.

That is why 11 million Canadians have a TFSA. The vast majority of those Canadians have a low or average income. Fully 60% of the people who contribute the maximum amount to their TFSA earn less than $60,000 a year. It is incredible to think that the Liberals and the NDP would cancel the increased TFSA contribution limit and deny the middle class and seniors this opportunity to save money.

[Consumer Protection, April 30th, 2015]

Mr. Speaker, we have provided more protections than ever for bank customers and we have done more than any other government. We will continue to help consumers in the future, thanks to our credit rating. What is very important is that we have lowered taxes to the levels they were at 50 years ago. That is what benefits families the most.

[Consumer Protection, April 30th, 2015]

Mr. Speaker, we are the only government that has stood up for consumers by lowering taxes and putting more money back in their pockets. We have taken action to improve low-cost bank accounts and to expand no-cost banking options for more than seven million Canadians. We have introduced a debit card and credit card code of conduct. Our government believes that with better information, Canadian consumers can make informed choices which will be in their interests.

[Manufacturing Industry, April 30th, 2015]

Mr. Speaker, as I have said, we have advanced job-creating businesses large and small. We have a lower tax regime than those of the other countries in the G7, some 46% lower than that of the United States. We have advanced for big companies the accelerated capital cost allowance. For small companies, which are responsible for 50% of the jobs in the private sector, we are moving the tax rate, which we already brought down to 11%, to 9% over the next several years.

This is the most significant tax reduction in 25 years.

[Manufacturing Industry, April 30th, 2015]

Mr. Speaker, as I said, we have brought forward policies to help manufacturers, and we will help all businesses, large and small, by giving them a tax regime that is more competitive than that of other countries.

In fact, it is already more competitive than the U.S. regime, because the tax rate is 46% lower than that of the U.S.

[The Budget, April 30th, 2015]

Mr. Speaker, things are looking good for October, I can say.

We, of course, are very concerned about the actions taken by the company, and our hearts go out to the people affected by it. We have invested heavily in the automotive industry. We have saved 50,000 jobs. Of course we are providing, through our capital cost allowance, to manufacturers a significant tax break, and we will continue to invest in job-creating companies.

[The Budget, April 21st, 2015]

Mr. Speaker, as I said, as far as registered retirement income funds are concerned, we are offering choices by reducing the minimum withdrawal amounts; for someone 45 and older, it will still be roughly a third or more. We will reduce the tax credit for small businesses and we are doubling the maximum contribution to the TFSA. We are creating funds for major transit projects and extending employment insurance compassionate care benefits from 6 to 26 weeks. Finally, we are creating a home accessibility tax credit for seniors and people with disabilities to make their homes safer and more accessible.

[The Budget, April 21st, 2015]

Mr. Speaker, I am thrilled that the hon. member supports some of the measures in our budget. I would ask him to support our entire budget.

As far as low-income people are concerned, we created more than 1.2 million jobs; we ensured that more than one million low-income Canadians no longer pay tax; we reduced overall taxes to the lowest levels in 50 years; and we created the historic working income tax benefit to help low-income Canadians who have a job. Transfer payments to the provinces through the Canada social transfer have never been so high.