Paul Martin

[The Economy, September 19th, 2001]

Mr. Speaker, the response to this question is not a budget, but rather that all countries of the world join together, as they are now doing, to fight terrorism and that we put in place measures to ensure free trade across our borders.

[The Economy, September 19th, 2001]

Mr. Speaker, that is in fact what I did in the statements of last October and this May. I made forecasts using the reserves for contingencies and prudence that have allowed us sufficient leeway in the past. Is this going to be sufficient? We shall see.

[Ways and Means, September 18th, 2001]

Mr. Speaker, pursuant to Standing Order 83.1, I wish to table a notice of ways and means motion to amend the Income Tax Act. I am also tabling a background document. I ask that an order of the day be designated for consideration of the motion.

[The Economy, September 18th, 2001]

Mr. Speaker, again, the hon. member knows that we are in the middle of a global slowdown. It is one that is affecting the United States, Latin America, Japan and Europe.

The fact is that Canada is very much part of this economy. That is why it was so important for us to get our balance sheet in order. That is why the debt reduction announcement of the day was so important.That is why it is important for us to have our taxes reduced.That is also why it is important to invest in research and development, education, health care and infrastructure.

Those are the things that were set out in the October statement. Those are the programs that we can guarantee the Canadian people will be protected. We will continue in that vein.

[The Economy, September 18th, 2001]

Mr. Speaker, one of the advantages of having proceeded prudently is that we have set up reserves, and they were set out very clearly in the October statement, that will allow us to do precisely what is now required, which is to plan for the unexpected. Therefore, we are in a position to act.

There is no doubt that there are priorities and hard choices will have to be made, and the government will make them. However, the Canadian public is now benefiting from the fact that its government did proceed prudently, a philosophy that the Alliance happened to criticize substantially every time we were in the House.

[The Economy, September 18th, 2001]

Mr. Speaker, it is important to understand that we are in the middle of a global slowdown. When one is in the middle of a global slowdown, one should compare how Canada has reacted to the other countries.

Since we last met, in the middle of this global slowdown we have paid down more debt than any other OECD country. We have cut our taxes more than any other G-7 country. Our dollar has been one of the strongest currencies in the world, albeit weaker than the United States. The fact is we have done better than most other countries.

[The Economy, September 18th, 2001]

Mr. Speaker, this is exactly what we have done and will continue to do.

The reduction in interest rates of 50 basis points will have an effect next week and next month. Cuts to income tax, which are four times those in the U.S., have not been completed yet and will continue to stimulate the economy.

[The Economy, September 18th, 2001]

Mr. Speaker, I can assure the member that we will take the appropriate measures under the circumstances.

For example, I just announced today that, last year, Canada reduced its debt by over $17 billion. This is a new record. It allowed the Bank of Canada yesterday to lower interest rates by 50 basis points.

[The Economy, September 17th, 2001]

Mr. Speaker, the hon. member is asking for an accountability, as are a number of the economic commentators. I can assure the hon. member, as has been our practice in the past, that when the fall update comes out, he will have a comprehensive set of projections setting the context for all spending, protecting our tax cuts and at the same time indicating the amount of debt that the government has paid back.

[Taxation, June 13th, 2001]

Mr. Speaker, Canadians' real disposable income this year has achieved a record level. That is the real fact.

Is the hon. member calling for further reductions in taxes? There is only one of two things that will happen: Either we will go back into deficit or, if we were to accomplish the Alliance plan, the government would have to cut back in health care and old age pensions. Which is it?

What is the Alliance recommending? When will the Alliance members lay their real agenda in front of the Canadian people?