): Mr. Speaker, first I would like to thank the hon. member for Dartmouth—Cole Harbour for generously sharing his precious speaking time with me.
As my Nova Scotian colleague pointed out so well, we are debating a very large omnibus bill, even though it is smaller than its predecessors. This morning, sadly, the Conservative government once again imposed closure through a time allocation motion in order to put a limit on debate. Thus, many of my colleagues who would have liked to speak on this budget implementation bill, which has many complex ramifications, will not be able to do so because they have been refused the right to speak for their constituents.
In my speech on the budget several weeks ago I attacked the finance minister's bill because it was very pretentious to try to impose a balanced budget act. It is pure comedy. I have studied the clauses relating to this balanced budget act; I have them here. I do not understand how a single Conservative member of this House can extol the merits of this part of the omnibus bill.
Had it been in force for the past seven years, the Conservative cabinet would have had to pay huge sums of money as a result of its intentional, unilateral decisions to reduce taxes on the richest and biggest businesses in our country.
The most reliable institutions estimate the shortfall caused by all the Conservative measures at tens of billions of dollars per year. It was no accident that the government found itself with a record-breaking operating deficit in one budget in the past seven years. It was the government's will and its poor decisions that created a whopping deficit a few years ago. We can see the number of years it took to return to what the Conservatives call a balanced budget, but what is really sleight of hand and a shameful diversion of funds.
My colleague from Dartmouth—Cole Harbour did well to point out, among other things, a further misappropriation of money from the employment insurance fund, amounting to about $2 billion.
He could also have talked about the contingency fund, which serves as insurance for the Government of Canada in the event of a catastrophe or some major disaster that affects Canadians directly, so that the government can provide support to the provinces and municipalities affected.
It is not very surprising that so many seats were won by the NDP in Calgary during the provincial election in Alberta, because this city had been flooded so disastrously. If Calgary were to experience a similar disaster this summer, what would the government do? How would the Conservatives manage after taking all the money out of this fund, which is so essential in the event of a catastrophe?
The Conservatives boast repeatedly about being good managers. It is a myth they are trying to spread by spending millions of dollars on extremely partisan advertising paid for out of the public purse. Unfortunately, as the facts show, the emperor is not wearing any clothes. That is the reality.
Over the past nine years, we have no doubt had the government that has been the worst manager. For months it denied the existence of an economic crisis on which everyone agreed, including all the opposition parties. The NDP had a ringside seat to lobby the government and say that we had to take action to deal with the crisis before us, a crisis which came in large part from the United States. Our American friends suffered enormously, but the government turned a deaf ear. Unfortunately, the late minister of finance, Jim Flaherty, refused to see reality, and with the complicity of the Prime Minister, resisted for months before finally taking action, under pressure from experts and the opposition parties.
This worn-out government's record over the past nine years is extraordinarily bad. It inherited a budget surplus. However it must be said—and there is nothing for the Liberals to be proud of in this—that the surplus was built in large part by depriving the provinces of legitimate transfer payments under the federal contract that had been in place for decades and by making deep cuts in transfers to individuals. The recipe that the Conservatives are using by making giving large corporations huge cuts has also been used by the Liberals. It is very interesting to see that after borrowing and stealing ideas from the NDP for years, the Liberals have now changed their target and are stealing many of the Conservatives’ ideas. The latest example is, of course, the lacklustre plan presented by the member for Papineau, who is trying to win the race of who is going to give the most money to the richest families, such as his own family and the Prime Minister’s. I have not been able to figure out who will win this race, the Conservatives or the Liberals. Of course, I will let them run after the richest people in our society to try to grab their votes.
The concrete reality facing the middle class is that it is suffering from stagnating incomes despite the huge increase in the cost of living, which is forcing people to borrow heavily. We have heard many warnings about the huge debt loads that Canadian households are taking on. I have the immense privilege of serving on the Standing Committee on Finance. I did so in 2013 and I have been serving again since January of this year. I remember the concerns that the chief economist for the TD Bank, Mr. Alexander, very clearly expressed during our study of income inequality. He said that the household debt situation was very troubling for the Canadian economy and that it was an immediate concern. If you look at the macroeconomic data, Canada has nothing to brag about. Despite our wealth of natural resources, our extraordinary human capital and our capacity for innovation, Canada's gross domestic product has stagnated and has been very low. My colleague and immediate neighbour is quite right: our trade balance is a disaster and in a substantial deficit. Maybe this is the Conservative government's new strategy to help developing countries around the world, but for the cost, they should be ashamed for wasting billions of Canadian dollars like that.
In closing, we have a worn-out, tired government. Canadians are really going to have to ask themselves if they want to replace an old horse that is on its last legs with another old horse that already proved its incompetence for four terms about 10 years ago.
People will have some important decisions to make, and the countdown has begun.