Paul Martin

[Employment Insurance, October 1st, 1998]

Mr. Speaker, there is no doubt Canadians are very worried about the situation in British Columbia. It highlights the problems and the integration we have in the world economy and what is going on out there.

I am saying that caution and prudence are what have enabled us to eliminate the deficit. They have seen our productivity increase substantially and have brought our unemployment rate down from 11.5% to 8.3%. We want to continue with that approach. This is not the time to jump ship. It is not the time to panic. It is the time to stay the course and we intend to do so.

[Employment Insurance, October 1st, 1998]

Mr. Speaker, the member ought to get her facts right. That is clearly not what I said. The hon. member knows full well that is not what I said. What I said is that the IMF has said there is a recession building up outside our borders and we basically have to make sure that our financial strength is there to withstand the storm.

The real issue is if the Reform Party wants to do what it is now saying it wants to do, will it stand up and say that it is against more money for health care, it is against more money for small children, it is against broad based tax cuts, it is against retiring the debt? Is the Reform Party prepared to accept the consequences of its choices?

[Employment Insurance, October 1st, 1998]

Mr. Speaker, the government has obeyed the law, number one. Number two, we are in a very volatile economic situation. The IMF has talked about the possibility of much more widespread depression than even we see now outside of our borders.

It is very important that the opposition and Canadians understand that we have to keep our powder dry. We have to proceed with caution. We will reduce EI premiums, as we will reduce income taxes as we will invest in health care as our priorities. We must do that taking into account the international situation. To do otherwise would be irresponsible.

[The Economy, October 1st, 1998]

Mr. Speaker, the government looks forward to a debate certainly on the EI issue, but in the kind of storm we are looking at we also happen to believe that lowering taxes for seniors and lowering taxes for self-employed workers is important.

We also believe there is no excuse not to make sure that the health care system in the country is in as good shape as it can possibly be. We believe that debt should be retired. We also believe that EI premiums should be reduced. We will do all this within the context of our financial resources.

[The Economy, October 1st, 1998]

Mr. Speaker, for a number of years the government has made its projections we have been told that we have been too prudent, that we have been too cautious. We have said that eventually there will be a downturn, that eventually the kind of storm we are going through in fact will occur.

It is for that reason we have been prudent. It is for that reason we have put in place a plan that will enable us to take advantage of the opportunities of an upturn and ride through the storms when in fact they occur. Thank heaven we have done that.

[Economic Situation, October 1st, 1998]

Mr. Speaker, there is no doubt that there are problems outside our borders.

According to the Bloc Quebecois, if the government of Russia cannot collect taxes, it is Ottawa's fault. According to the Bloc, if there is a problem with Japanese banks, it is Ottawa's problem. According to the Bloc, if there are problems with emerging economies, it is Ottawa's fault. The Bloc's position is absolutely ludicrous.

[Economic Situation, October 1st, 1998]

Mr. Speaker, all the economists unanimously agree that, if there is a problem with the economy, it is outside our borders. This situation exists because there is a problem in Russia and Asia.

The best thing we can do to weather the storm is to maintain our policy, which is based on caution and a balanced approach.

[Economic Situation, October 1st, 1998]

Mr. Speaker, let us look at what the Bloc is asking. If we followed every suggestion, we would be back in a deficit situation by the end of the year, and interest rates would be on the rise.

Allow me to quote the president of the Bank of Hong Kong, who said “Canada is being affected by events largely beyond its control”. I thank God every day that our financial situation is better than it was five years ago. Imagine what it would be like if we still had a deficit, as the Bloc Quebecois would like.

[Economic Situation, October 1st, 1998]

Mr. Speaker, it is clear that we live in a volatile world. The meeting of the Commonwealth countries has just concluded. We have just seen the projections of the International Monetary Fund: two-thirds of the world's economies are in recession. There is no doubt that Canada will be affected.

That said, Canada, fortunately, has taken precautions in order to weather these storms. That is what counts most.

[Canada Pension Plan, October 1st, 1998]

Mr. Speaker, that is simply nonsense. First, Mr. Hafeman worked under Mr. Dussault.

Second, what has happened is that the superintendent has asked the Canadian Institute of Actuaries to come in and do a practised review of OSFI's “actuarial services division early in the new year”. He has asked them to do it with special emphasis on the report of the CPP. There will not be one report; there will be two and it will be approved by the Canadian Institute of Actuaries.