Kyle Peterson

[Budget Implementation Act, 2016, No. 2, November 15th, 2016]

Mr. Speaker, just one year ago today, Canadians asked us to do two things: help them and their families, and grow our economy.

While the economy has grown over the past decade, we know that the growth has been too slow and its benefits have not been shared widely enough. Middle-class families see the economy growing, but they have not felt like they are getting ahead. That is why we ran on a platform to support the middle class while growing the economy.

We were among the first countries in the world to pursue an approach to growth that strengthens the middle class, and people are listening. Our approach to supporting the middle class while growing our economy is one that is garnering praise and positive attention around the world.

The Financial Times called Canada “a glimmer of light”.The Wall Street Journal called Canada “the poster child” for the International Monetary Fund’s global growth strategy. Christine Lagarde, head of the IMF, praised our approach and said that she hoped it would “go viral”.

The Economist magazine has put Canada's approach on its cover with a story in a recent issue. “Liberty moves north” was the headline. It stated that “the world owes Canada gratitude for reminding it of what many people are in danger of forgetting: that tolerance and openness are wellsprings of security and prosperity, not threats to them”.

Our budget and the government's approach earned these endorsements because, I firmly believe, we are focused on exactly the right things.

As the government, we are particularly proud of our first budget. This is a budget that puts people and families first. It introduces investments that take an essential step to grow the middle class. It is the first step of a long-term plan to restore hope and revitalize the economy for the benefit of all Canadians. It is focused on people. It is focused on growing the economy for the long term in ways that will benefit every Canadian.

The legislation we are debating today, the budget implementation act, 2016, no. 2, will complete the measures we introduced in budget 2016. This is a budget that offers a fresh boost to the core of our economy: Canada's middle class.

Since being elected, we have lowered taxes for nine million Canadians and introduced the Canada child benefit, which will help nine in 10 Canadians to be better off. Since last July, Canadians have been receiving the new Canada child benefit, which will lift 300,000 children out of poverty. It is no small feat.

Families have been seeing more money in their pockets to spend on sports programs, music lessons, and on other activities for their children this year. Better yet, the Canada child benefit is simpler, it is fairer, and it is tax free, unlike the confusing and unfair system of child benefits it replaced.

To elaborate, since July 1, families can receive up to $6,400 each year per child under six, and $5,400 for a child between six and 17 years of age. The second budget implementation act indexes this benefit to inflation to ensure that it will serve Canadians now and well into the future.

An ambitious public policy like this requires a reliable tax base, and we must remain vigilant in the face of growing problems of international tax evasion and tax avoidance. All around the world, governments are coming together to fight tax evasion and avoidance. In budget 2016, we took an important step in this fight by devoting $444 million in new funding to the Canada Revenue Agency to crack down on tax evaders.

The second budget implementation act would implement key provisions of the international fight. Under the common reporting standard, Canadian financial institutions would be expected to have procedures in place to identify accounts held by non-residents and report information on those accounts to the Canada Revenue Agency. Tax administrations in foreign jurisdictions would likewise collect information from their financial institutions about accounts held by residents of other countries including Canada. The CRA would formalize exchange arrangements with foreign jurisdictions, having verified that each jurisdiction has appropriate capacity and safeguards in place. Then the financial account information would begin to be exchanged on a reciprocal bilateral basis. The introduction of the common reporting standard is an important global development that would help enhance tax compliance and eliminate opportunities for tax evasion, a goal all members in this House share. Going forward, Canada will continue to work with the international community to ensure a coherent and consistent response to tax avoidance.

As all members of this House know, budget 2016 would also commit considerable investments to infrastructure, an important step in growing Canada's economy and in strengthening our middle class. Investments in affordable housing; investments in broadband; and investments in roads, public transit, and waste water are all investments that are important to the people of Newmarket—Aurora and, I suggest, to people across this land. This is an important facet of this budget and it is one that would help grow our economy for years to come.

Canada's debt-to-GDP ratio is the best in the G7 right now. Now is the time to borrow money. Now is the time to invest in Canadians. Now is the time to invest in long-term growth. These investments are sorely needed. I can think of no better time. I can think of no better policy that would grow the economy in the short term, in the mid-term, and in the long term than these significant and important commitments to infrastructure investments. That is why I am so proud of that component of budget 2016.

Recently in my riding of Newmarket—Aurora, we had a pre-budget 2017 town hall. I spoke with members of my regional council there and asked them to prioritize what they saw as their infrastructure priorities. I think it will shock no one in this House that things such as waste-water treatment, roads, public transportation, and, importantly, affordable housing were on the top of their list. I live in a growing part of the country. The growth has put municipal and regional governments under some strain. As their member of Parliament, I am happy to offer some support to their priorities in the form of considerable investment in infrastructure that will help my regional government and my municipal partners deliver on what is important to the great people of Newmarket and Aurora. How they play out in our own ridings is something that we all bear in mind when we consider the important policies. I for one can say that they are playing out nicely in Newmarket—Aurora. They are much needed and appreciated.

Another important component that is found in budget 2016, and of course in the implementation act here, is that we are helping young Canadians to succeed. Now more than ever it is important that post-secondary education remain affordable and accessible. Young Canadians must have access to meaningful work at the beginning of their careers, and must not be burdened by increasing student debt. Budget 2016 would make post-secondary education more affordable for students from low- and middle-income families and it would make it easier to repay student debt. Budget 2016 would also help young Canadians to gain experience and extra income and to find good jobs after graduation.

Budget 2016 represents a strong first step in our plan to put people first and to deliver the help they need now while investing for the years and decades to come. With these investments, and inspired by a sense of fairness, we are ensuring that Canada's best days lie ahead. I therefore encourage all members in this House to support this bill.

[Budget Implementation Act, 2016, No. 2, November 15th, 2016]

Don't be a bully.

[Budget Implementation Act, 2016, No. 2, October 28th, 2016]

Madam Speaker, I thank the member for her question and for raising the concerns of her constituents in this House, which of course is our principal role as members of Parliament.

I am obviously not familiar with the particulars of those incidents, but my understanding is that there are more Canadians, nine out of 10 families, receiving child benefit payments under the new plan. Three hundred thousand Canadians have been lifted out of poverty. I am willing to work with the member and get my government colleagues to work with her to help if there are special cases that need addressing in her riding to make sure that every Canadian gets the benefits that she or he is entitled to.

[Budget Implementation Act, 2016, No. 2, October 28th, 2016]

Madam Speaker, I thank the member for Edmonton Manning for his question. I know how hard he works for the people of his community.

It will not surprise this House to hear that I do not necessarily agree with the premise of the member's question. First, he referred to the Canada child benefit as doing nothing. I have met people who rely on that child benefit to buy groceries every month. Does that member want to tell those people that this child benefit is doing nothing for them? I do not think he does.

On the point of job growth and labour-market growth, that is precisely why we have to continue investing. We have to continue the steps we are taking to make sure we grow the economy. Canada's economic growth is slow right now. We need to prime the pump. That is exactly what budget 2016 would do.

I want to thank the member for Edmonton Manning for pointing out how important the measures in this budget are for all of Canada.

[Budget Implementation Act, 2016, No. 2, October 28th, 2016]

Madam Speaker, I want to thank the member for Acadie—Bathurst for that question. I know how hard he works for the great people of his riding and how much they respect the work he is doing. He works very hard in our caucus and indeed in all his duties in the House, and I thank him for his tremendous efforts in that regard.

The Canada child benefit is the single most profound measure in budget 2016. It has helped people in my riding, as I alluded to. I am sure, as the member for Acadie—Bathurst just said, it is helping people in his riding. It is lifting thousands of children out of poverty.

Whatever components of the budget one may or may not agree with, I think we should all agree that this outcome is a positive step for Canadians. That outcome is a positive step for Canada, and that outcome is something we should all take great and tremendous pride in.

[Budget Implementation Act, 2016, No. 2, October 28th, 2016]

Madam Speaker, that is a good question and I thank my hon. colleague for it.

The issue is that if we are going to borrow, we should invest it properly. I do not share the same fear of corporate involvement that my friends in the NDP do. If it makes more efficient sense to borrow money and be able to leverage that borrowed money with help from the private sector, then that is worthy of examination. We are open to any ideas or suggestions that any member of the House of Commons may make.

The best thing for us to do as Canadians, and as a Canadian government, is to listen and consider all options as to how best to leverage taxpayer money, how best to get results for Canadians, and how best to grow the Canadian economy. I am proud that our government is doing precisely that.

[Budget Implementation Act, 2016, No. 2, October 28th, 2016]

Madam Speaker, I can tell the member what my constituents told me. They told me they want our economy to grow. They told me that they have just lived through 10 years of the slowest economic growth, and deficits, and what they want is growth. They want hope for the future. That is what they want, and that is why I am so happy to be speaking about this budget today. We will deliver exactly what the great people of Newmarket—Aurora wanted when they voted for me, and I am happy to deliver on those promises.

[Budget Implementation Act, 2016, No. 2, October 28th, 2016]

Madam Speaker, I am happy to rise today to comment on this budget implementation act.

Canada is a country built upon optimism, often in the face of seemingly insurmountable challenges. However, this promise of a better life has been eroding in recent decades. The reality is that many middle-class Canadians have had their confidence shaken. While our economy continues to grow, middle-class Canadians are struggling. Many Canadians are working harder and longer as the cost of living continues to rise. Middle-class Canadians just do not feel as though they are getting ahead.

It is time to recapture the hope and optimism for the future that existed in previous generations. We must embrace the spirit of those early founders and build upon their legacy by providing the same opportunities for advancement and mobility they once unlocked. We already possess the keys to this future.

Canadians are among the most highly educated people in the world, ranking among the top of all members of the Organisation for Economic Co-operation and Development. More than half of Canadians have a post-secondary degree. We are world-renowned for scientific research and discovery, and can often be found on the cutting edge of the clean technologies emerging right now on the world stage. We have abundant natural resources, outmatched only by the resourcefulness and diversity of our people.

With interest rates at record lows, now is the time to make the investments that will invigorate the heart of our Canadian economy, our middle class and those working hard to join it.

This is no small undertaking. The challenges this budget identified cannot be solved in one year, but we can and must take the next steps that will focus on growing the economy for the long term, in ways that will benefit every Canadian. The legislation we are debating today, budget implementation act, 2016, No. 2 will complete the measures we introduced in budget 2016.

This is a budget that offers a fresh boost to the core of Canada's economy, Canada's middle class. The bill we are debating today will build a strong economy for Canada, and it will give the middle class and those working hard to join it more money in their pockets to save, invest, and grow the economy.

This bill includes measures that build on Canada's economic and fiscal strength. It offers help for the middle class. It includes measures that protect consumers. It ensures tax fairness and integrity.

I would also like to discuss Canada's economic and fiscal strength. As I mentioned, many middle class and other Canadians are working harder but not getting ahead. There is a growing consensus in Canada and globally that governments need to invest, not only to boost economic growth in the short term but also to set the stage for long-term growth as well.

Canada has the lowest debt-to-GDP ratio of any G7 country, and interest rates are at historic lows. Now is the ideal time for Canada to invest in its future success.

I also want to talk about what this budget does to help the middle class. Obviously we can all agree, I would hope, that a strong economy starts with a strong middle class. When middle-class Canadians have more money to save, to invest, and to spend, everyone benefits. A strengthened middle class means that hard-working Canadians can look forward to a good standard of living and better prospects for their kids and grandchildren. When we have an economy that works for the middle class, we have a country that works for everyone. We must do for our kids and grandkids what our parents and grandparents did for us.

Also important when it comes to growing the middle class is making sure that we help young Canadians succeed. Budget 2016 makes post-secondary education more affordable for students from low and middle-income families and will make it easier for students to repay student debt. It will also help young Canadians gain the much-needed experience and income they need, and to be in a position to find good jobs after graduation.

Now more than ever, it is important that post-secondary education remains affordable and accessible. Young Canadians must have access to meaningful work at the beginning of their careers and must not be burdened by increasing student debt. Budget 2016 will address these concerns.

Budget 2016 also improves the employment insurance regime. Canada's employment insurance program provides economic security to Canadians when they need it most. Whatever the circumstances, no Canadian should struggle to get the assistance they need. To make sure that Canadians get the help when they need it, several changes are being proposed to the EI system. Changes to eligibility rules will make it easier for new workers and those re-entering the workforce to claim benefits. The waiting period will also be reduced from two weeks to one week, providing unemployed workers with hundreds of dollars more at the time they need it most.

Budget 2016 will also improve the quality of life of seniors. The government, through budget 2016, will make significant new investments to support seniors in their retirement years. Increased benefits will ensure that Canadian seniors have a dignified, comfortable, and secure retirement.

Budget 2016 also has measures to support Canada's veterans. The Government of Canada has a social covenant with veterans and their families. It is a sacred obligation that we must meet with respect and gratitude. Our veterans have dedicated their lives to the defence of our country and they deserve our unwavering support, as I am sure all members of the House agree.

The government will give back to veterans who have given so much in service to all Canadians. Canada will restore critical access to services for veterans and ensure the long-term financial security of disabled veterans. Canada's veterans will receive more local, in-person government services, as well as better access to case managers. Our veterans deserve nothing less.

Budget 2016 also includes many measures to help protect consumers. Canadians deserve financial consumer protection in banking that keeps pace with their needs. In line with this, budget 2016 contains plans to strengthen and modernize the financial consumer protection framework, by proposing to amend the Bank Act.

Canada's financial sector was resilient enough to weather the 2008 financial crisis, and we are seeking to build on this strength. We want to make sure that the financial sector is able to adapt to new trends, including emerging financial innovation and technologies. What this legislation proposes to do is consolidate and streamline existing consumer provisions into one new chapter of the Bank Act, and to introduce amendments to the Bank Act to enhance consumer protection in the areas of access to basic banking services, business practices, disclosure, complaint handling, as well as corporate governance and complaints and accountability.

The federal government is exercising leadership by taking targeted steps to strengthen financial consumer protection. This includes measures to improve access to basic banking services, impose certain limits on business practices, and enhance disclosure to facilitate and inform the decisions being made by consumers. These reforms reaffirm our government's intent to have a system of exclusive rules for consumer protection to ensure an efficient national banking system from coast to coast to coast.

The budget also does much to ensure tax fairness and integrity. A fundamental Canadian value is one of fairness. This is why the Government of Canada is committed to a plan of action to combat international tax evasion and aggressive tax avoidance that strengthens existing efforts at home and abroad and includes new measures.

Under the common reporting standard, Canadian financial institutions will be expected to have procedures in place to identify accounts held by non-residents, and to report information on those accounts to the Canada Revenue Agency. Tax administration in foreign jurisdictions will likewise collect information from their financial institutions about accounts held by residents of other countries, including Canada. The CRA will formalize exchange arrangements with foreign jurisdictions, having verified that each jurisdiction has the appropriate capacity and safeguards in place. Then the financial account information will begin to be exchanged on a reciprocal bilateral basis. The introduction of the common reporting standard is an important global development, which will help to enhance tax compliance and eliminate the opportunities for tax evasion.

In addition to this new legislative tool, budget 2016 also announced $444 million in new resources for the Canada Revenue Agency to address tax evasion and aggressive tax avoidance.

Going forward, Canada will continue to work with the international community to ensure a coherent and consistent response to tax avoidance.

Budget 2016 and the budget implementation legislation are an important step, not only in the life of this government, but in growing Canada's economy, preparing the Canadian economy for the future. To do this, Canadians know that our government must invest in infrastructure and innovation, but, most importantly, invest in Canadians.

During the campaign, all of us were successful in being elected. Our success was due in part to listening to the voters in our own ridings; otherwise none of us, whatever side of the aisle we happen to be on, would be in the chamber today. We listened to Canadians. I certainly did.

In my riding of Newmarket—Aurora there was concern with what was happening. There was concern about whether or not people's children and grandchildren would have the same opportunities that we had. The budget clearly addresses many of those concerns.

Let us look for a minute at the Canada child benefit, which is an important social policy and also an important economic policy. There are nine out of ten Canadian families who are now receiving more through this child benefit than they were receiving previously. The effect that this has, among other things, is that 300,000 young Canadians will be lifted out of poverty. That is 300,000 young people with more hope for the future. That is 300,000 young people who can participate more fully in the lives of their communities. That is 300,000 more people who can participate in the opportunity that Canada offers to all of our young people. This is important, and it should not be overlooked.

There are people in my riding to this day who stop me and thank me for our government having taken this measure. I am fortunate to live in a riding that is relatively affluent, but, even among that affluence, there are pockets of need and pockets of want.

A few weeks ago, I was honoured to attend the opening of the Newmarket Food Pantry in my riding, and I was speaking with the executives and the great volunteers of that organization. They told me that even though it is located in the community of Newmarket, which has so much wealth and prosperity, more people use the Newmarket Food Pantry every month. The need continues to grow. None of us want that trend to continue. This is just one example of where some Canadians were feeling left out and left behind.

I was fortunate at that Newmarket Food Pantry to be asked to say a few words. I was a little overwhelmed by many of the clients at the food pantry. These are hard-working Canadians. These are Canadians who struggle. Many of them are single parents, many are single moms. I do not think anyone would not sympathize with people in this situation. The Canada child benefit helps the exact people that it is intended to help.

As I said, someone asked me to say a few words. I said that I would love to be around on the day that instead of celebrating the opening of the new expanded food pantry, we are celebrating the closing of the doors of the food pantry, not only in Newmarket, but in all of our communities, all food banks. Until that time, it is great to have volunteers and the great people who run these facilities. However, it would be much better to not need these facilities at all. I know everyone in the House agrees with that sentiment.

That is why the Canada child benefit is so important. It helps people who need it most. I can think of nothing more Canadian than that, and that is one facet of the budget that I am very proud of. We see it every day. However, the budget is just the first step in our plan. Of course, there is much more work to be done.

The other facet I am very eager about is the investment in infrastructure. The municipalities in my riding are growing very quickly, and they cannot keep up with the population surge. There is a gap in infrastructure needs, not only highways and sewers and waste water, but even things such as broadband. We have many small and medium enterprises, but even though we are half an hour or 45 minutes north of Toronto, we have issues with connectivity. That needs to be addressed, in all regions of the country. If we want to be part of the technological economy of the future, we have to make sure we invest now. There is also the infrastructure such as highways, transportation, sewage, and waste water, or any of these great infrastructure investments. Budget 2016 realizes that. There is much work to be done.

In the few minutes I have left, I want to discuss why this is a good time to invest. As I mentioned earlier, interest rates are at an all-time low. This is the time to borrow money, but it is not a time to spend recklessly. The borrowed money must be invested prudently, and it must be invested with the view to a return on that investment.

Many Canadians borrow money. Most Canadians borrow money to buy a house, a car. These are necessities. Therefore, taking on debt for important investments and expenses and the fundamental essentials of life is a prudent way of running one's household finances. The same applies to government.

There is absolutely nothing wrong with borrowing money to invest in important projects that are needed by Canadians and that are needed by the Canadian economy, especially when those investments will yield a return in the future. That is what a responsible government ought to do, and I am proud to be part of a government that is going to do just that. Investing now to build future prosperity for Canadians is something we should all be very proud of, and I know I certainly am.

Budget 2016 represents a strong first step in our plan to put people first and to deliver the help they need now while investing for the years and decades to come. With these investments, and inspired by a sense of fairness, we are ensuring that Canada's best days lie ahead. I therefore encourage all members in the House to support the bill.

[Budget Implementation Act, 2016, No. 2, October 28th, 2016]

Madam Speaker, tax credits do not work. We all know that if a person does not have the money to pay in the first place, boutique tax credits do not work.

I want the member to elaborate on how the Canada child benefit actually provides opportunities for so many children. Three hundred thousand children were lifted out of poverty because of this measure.

Would the member please elaborate on that?

[Budget Implementation Act, 2016, No. 2, October 28th, 2016]

Madam Speaker, I want to thank my hon. colleague for that wonderful speech. I have a question for him regarding the Canada child benefit.

I spend a lot of my weekends in the hockey arenas in my riding. I have two young boys who play hockey. What I am hearing is how this fundamentally changes the lives of so many people in my riding. Parents can afford things for their kids that they could not before. People are now playing hockey and sports in my riding who were not able to before.