Joe Oliver

[The Economy, June 4th, 2014]

Mr. Speaker, it is quite remarkable to hear that come from the Liberal Party.

Our party has a low-tax plan for jobs and growth. We have created over one million jobs. Our economy is doing better than most countries in the G7 and our debt is one-half the average of the G7.

We are working toward a budgetary surplus, which we will convert into lower taxes for hard-working Canadians.

[Small Business, May 29th, 2014]

Mr. Speaker, the hiring credit, which the NDP voted against, was always designed to be temporary assistance for small businesses.

As for credit cards, we have heard the concerns of small businesses and we introduced a code of conduct. This code was welcomed by consumers and industry groups, in particular by small businesses.

We are always listening to small businesses.

[Small Business, May 29th, 2014]

Mr. Speaker, the member opposite seems to have forgotten that the NDP voted against the hiring credit.

This credit was always meant to be temporary. It helped small businesses that were struggling during the worst economic recession since the Great Depression.

We recognize the vital role that small business plays in the economy and job creation, which is why we have frozen EI premiums for three years, putting $660 million into the pockets of job creators and workers last year alone.

[Taxation, May 28th, 2014]

Mr. Speaker, I thank the member for Prince Albert for that very relevant question.

The Parliamentary Budget Officer confirms that our government reduced taxes by $30 billion last year, benefiting low and middle-income families the most. Indeed, all families have benefited from our tax reduction program, increasing net worth by 44%.

Unlike the opposition, we believe that Canadians should keep more of their own hard-earned money, and that is why we intend to introduce even more tax relief next year when the budget is balanced. Canadians can count on that.

[Consumer Protection, May 27th, 2014]

Mr. Speaker, I thank the member for Provencher for asking the question. I am very happy to announce an agreement with Canada's eight largest chartered banks to expand no-cost banking services for more than seven million Canadians. This will help vulnerable and low-income Canadians gain access to essential banking services at a reasonable cost.

Our government puts consumers first. Just today, the parliamentary budgetary office confirmed that we have delivered more than $30 billion in tax relief to Canadians.

[The Budget, May 15th, 2014]

Mr. Speaker, FATCA has raised a number of concerns in Canada. The new agreement addresses those concerns by relying on the existing framework under the Canada-U.S. tax treaty.

The CRA will not assist the IRS in collecting U.S. taxes, no new taxes will be imposed, and only U.S. citizens will be affected.

We obtained a number of very important concessions, exempting certain accounts like RRSPs, RDSPs, and TFSAs. This is an agreement that works in the interests of Canada.

[Business of Supply, May 14th, 2014]

Mr. Chair, apparently after they get an answer, the members opposite create their own answer, ignoring the facts. However, in fact I gave them an array of dates, which clearly demonstrated that people had much more time than that.

There is no requirement for a financial institution to notify clients that information about their account is being provided to the CRA under the terms of the intergovernmental agreement. Nevertheless, clients of financial institutions whose accounts already have been reported are generally expected to be aware of this fact because they have self-identified as U.S. persons or have been contacted by their financial institutions about information associated with the account that suggests they may be a U.S. person.

[Business of Supply, May 14th, 2014]

Mr. Chair, of course this particular agreement has been known for some time, and the public has had ample time to consider it. The U.S. model intergovernmental agreement, which is the platform of the Canada–U.S. agreement, has been in the public domain since July 2012. We had announced that we would enter into negotiations with the U.S. on this agreement on November 8, 2012, and invited public comment. We received many comments, and we signed and released the agreement on February 5, 2014. The agreement was introduced on March 8.

[Business of Supply, May 14th, 2014]

Mr. Chair, the Canadians who will be affected are those who have dual citizenship, and I do not have that exact number but I am sure the member opposite thinks he does.

[Business of Supply, May 14th, 2014]

Mr. Chair, I am not sure why the member opposite is asking me what a particular bank is forecasting. I mean, if he has the information, why does he not simply tell us?

What we are trying to do with the TFSA, of course, is encourage savings. That is a critical objective and priority of our government.