Mr. Speaker, if we look at the figures, it is very clear that there is indeed a surplus. When we took office, there was a deficit of $6 billion. I personally think it is much better to have a surplus.
House of Commons photoWon his last election, in 2006, with 48% of the vote.
Employment Insurance March 19th, 1999
Mr. Speaker, if we look at the figures, it is very clear that there is indeed a surplus. When we took office, there was a deficit of $6 billion. I personally think it is much better to have a surplus.
Employment Insurance March 19th, 1999
Mr. Speaker, clearly, when the economy is doing well, salaries are higher and many more people qualify for benefits because more people are working, that is they have not been unemployed for extended periods of time.
I can assure the hon. member that it is because the economy is doing well; many more people are working and salaries are higher.
The Economy March 19th, 1999
Mr. Speaker, I do not know where the hon. member has been for the last four or five years. We have addressed it in every single budget. We are one of the very few industrial countries that is actually paying down debt. The income tax cuts which we brought in, $16.5 billion over the course of the next three years, will more than compensate for bracket creep, and every economist in the countries knows that.
What I would really suggest to Reform is that instead of writing its supplementary, it actually listen to the answer and then pose the question based on that.
The Economy March 19th, 1999
Mr. Speaker, the hon. member continues to make perceptive glances into the obvious. Of course our debt is too high. That is why we have been reducing it. We have taken the debt to GDP ratio from 71% to where in two years it will be 62%.
Yes, we want to reduce taxes. They were too high and that is why we reduced them in the last budget. That is why we reduced them in this budget and that is why we will reduce them in the next budget.
Yes, we have to improve our productivity. There has been a long term declining trend. We have now arrested it and we have to do everything we possibly can to make sure we have an upward trend in the future.
The Economy March 19th, 1999
Mr. Speaker, not only is the hon. member misquoting the Minister of Industry, the fact is that he is misquoting me as of about one minute ago.
There is no doubt that we have had a long term decline in our productivity, going back well into the eighties. There is also no doubt that it is absolutely crucial that this be reversed and, if we look at the more recent numbers, we are in the process of turning that around. That is why we put money into research and development. That is why we reduced the debt. That is why we have reduced taxes and put money into education.
There is no doubt that we have to continue to work on improving productivity because it is the source of wealth. There is also no doubt that we have a long way to go—
The Economy March 19th, 1999
Mr. Speaker, first of all, I have met with the alliance on numerous occasions. In fact the productivity numbers differ substantially from industry to industry. One of the problems that we have, as an example, is that obviously there are more productivity improvements in the higher value added area, the newer economy, than there are in a number of our older industries, those which produce basic commodities.
That is why it is so important to emulate, for instance, what has been done in the oil and gas industry where a lot of the newer technologies are involved and are in fact improving substantially our productivity.
The Economy March 19th, 1999
Mr. Speaker, apart from the fact that the hon. member is mixing apples and oranges, let me simply say that what the productivity gap which the Department of Industry demonstrated is that in fact over the last 15 years there has been a decline in productivity.
The study began in 1985. What we are dealing with are numbers throughout that period and a tale from that period. At the same time, let me be very clear that as a result of the actions of this government and of Canadians across the country, more recently the numbers have begun to turn around. That is what the Prime Minister has said, that is what I have said and it is what the Minister of Industry has said.
Bank Act March 19th, 1999
moved that Bill C-67, an act to amend the Bank Act, the Winding-up and Restructuring Act and other acts relating to financial institutions and to make consequential amendments to other acts, be read the second time and referred to a committee.
Productivity March 18th, 1999
Mr. Speaker, there is no split. Whether it is the caucus, the Standing Committee on Finance, the Minister of Industry, the Prime Minister, the Minister of Finance, we all know that our productivity must increase.
This is why we eliminated the deficit. This is why we lowered taxes. This is why we invested in research and development. This is why we cleaned up the mess inherited from the Conservative government.
Productivity March 18th, 1999
Mr. Speaker, the member misunderstands.
What I said was that it is a report based on a problem that had its roots in the 1980s, 1990s.
It is a great pleasure for me to say that, as the result of measures taken by our government, productivity is much higher in the 1990s than it was in the 1980s.