Paul Martin

[Taxation, April 23rd, 1998]

Mr. Speaker, when we look at the total burden that any taxpayer in any country has to pay we have to look at all. As an example, our payroll taxes are substantially lower than the G-7 average. In fact, they are lower than in the United States.

It is true that we want to bring personal income taxes down and we did so in the last budget; 83% of Canadians saw the 3% surtax eliminated and 400,000 Canadians are no longer paying taxes. We have made it very clear that as a result of the increasing fiscal dividend we will return that money back into the pockets—

[Taxation, April 23rd, 1998]

Mr. Speaker, the fact is in the last budget we brought in probably the most substantial tax reduction in the course of the last decade.

However, the hon. member is right about one thing, government revenues are up. Our revenues are up because over the course of the last four years one million Canadians have gone back to work. Not only that, but in the last year 453,000 Canadians went back to work.

If the truth be told, Canada is now creating more jobs on a percentage basis than any other G-7 country, including the United States.

[Taxation, April 23rd, 1998]

Mr. Speaker, there is no doubt that we inherited a very difficult financial condition when we took office.

However, certainly as a result of the elimination of the deficit I am pleased to announce, in case the member has not noticed, that since last November we reduced unemployment insurance premiums from $2.90 to $2.70. In the budget 400,000 Canadians no longer have to pay tax of any kind and 83% of Canadians saw the 3% surtax eliminated.

I thank the member for his question.

[Taxation, April 22nd, 1998]

Mr. Speaker, I congratulate the hon. member on realizing that there is a problem, a problem the government realized many months ago when it set up a parliamentary committee to look into these very things.

We look forward to the results of that committee in its conclusion.

[Banking, April 21st, 1998]

Mr. Speaker, the reason the MacKay task force was set up well over a year and a half ago was that when Canadians came to debate this very important issue they would have the best information available to them and they would understand not where the banking industry has been, but where it is going, where the insurance industry must go, where credit unions must go.

I fail to understand why the hon. member would deprive Canadians of the best information possible when that debate is going to occur. I do not understand why he would deprive this House of that information. We are going to make sure they have it.

[Banking, April 21st, 1998]

Mr. Speaker, you cannot deprive me of the chance.

Double or nothing, we will do the right thing.

[Banking, April 21st, 1998]

Mr. Speaker, it is certainly our intention to give this parliament and the Canadian people a chance to have their voices heard. In fact, we intend to do exactly what the hon. member suggests.

However, we will do it according to this government's and this country's timetable, not the timetable set by a couple of large financial institutions.

[Banking, April 21st, 1998]

Mr. Speaker, the government has made it very clear that it is very concerned about jobs. When the final decision is made that will certainly enter into the consideration, as well as a number of other issues, including competition, service to the consumers of urban and rural Canada and the overall state of the financial sector industry in this country.

[Banking, April 21st, 1998]

Mr. Speaker, I have never watched paint dry, but then I have never been a member of the Reform Party caucus.

I would simply point out to the hon. member that while the banks and other interests may well have Reformers or NDPers standing up for them, the Canadian people have this government standing up for them.

[Banking, April 21st, 1998]

Mr. Speaker, it is very important to understand the role of the task force.

Essentially there are very great changes, globalization, technological changes affecting all of the financial services industry. The task force is looking at the evolution of that. It is also looking at the insurance industry. It is looking at the roles of credit unions. The task force is putting together the context within which the debate in this House and across the country will take place.

If what the hon. member really wants is to have competition and to have a public debate, what he should be prepared to do is support the submission of the task force and the debate that will follow therefrom.