Shelly Glover

[Pensions, November 17th, 2011]

Mr. Speaker, this summer, the Minister of State for Finance travelled to every province and territory to talk about the pooled registered pension plan. We wanted to improve retirement savings for Canadians, especially workers in small business and the self-employed, which is why we introduced legislation on the pooled registered pension plan today. This great, low cost savings option will help future retirees build their retirement nest eggs.

I hope all parliamentarians will support this very good measure. I hope the NDP abandons its plans to convince other countries to terminate jobs here in Canada.

[Pensions, November 17th, 2011]

Mr. Speaker, the fact remains that today we have a good news story. We have introduced a very new pooled registered pension plan that will help millions of Canadians who otherwise have not saved for retirement.

I have to question the member's commitment to that statement when people within the CFIB have said time and time again that if we raise CPP, they are very worried about jobs, and right now we are concentrating on jobs and the economy and our low-tax plan to maintain those.

[Financial Literacy, November 15th, 2011]

I have to agree with journalist Don Martin on that one for sure.

Today the member's motion highlights an increasingly important issue for Canadians, financial literacy. With so many new financial products and choices out there today, including complex mortgage and loan forms, different retirement savings plans, the rise of online banking, online payment systems like PayPal, a growing number of debit and credit card options, and so much more, Canadians must ensure that they have the right tools and knowledge to make the best financial decisions for themselves and for their families. So many new and developing products can make it very difficult for Canadians not only to balance their online chequebooks but also to fully understand the risks, the fees, and the consequences of what is available. That is where strong financial literacy comes in as an important part of the solution.

I would like to share a somewhat lengthy commentary from the Canadian Taxpayers Federation that really speaks to the importance of this issue, not only at the individual level, but as part of the economy as a whole. I am going to quote this lengthy commentary:

Financial literacy is an important life skill. Canadians make financial decisions throughout their lives, many of which involve significant risks and rewards. Improving financial literacy helps consumers act knowledgeably and with confidence in managing their personal financial affairs. Informed consumer decision-making, in turn, contributes to the maintenance of a well-functioning and stable financial system and a stronger economy.

Simply put, the better one learns to manage one's own finances the better the economy can work as a whole. When people don't do a good job of managing their own finances it can have dire consequences.

Our Conservative government could not agree more. That is why we are supporting today's motion and its call to continue the work we have done to improve financial literacy here in Canada.

A big part of that work is something we started in 2009 as part of Canada's economic action plan, when we announced the establishment of a task force on financial literacy to make recommendations to create a cohesive national strategy. Over the next few years that task force, headed by Don Stewart, went across Canada to hold open public hearings to hear first-hand from Canadians on this issue.

Thanks to the great feedback the task force received from that consultation, and other research it conducted, it produced a final report called “Canadians and Their Money: Building a brighter financial future”, which was publicly released this past February. That report outlined 30 key recommendations to improve the financial literacy of Canadians, including many referenced in today's motion. I would strongly encourage all Canadians watching at home to visit the website at www.financialliteracyincanada.com to learn more about the work that the task force did and to review the very detailed research it produced, including its report.

The task force report was extremely well received. For example, Social and Enterprise Development Innovations, which is a major Canadian non-profit organization dedicated to helping low income Canadians, applauded the report. It said:

We commend the federal government for recognizing the critical importance of financial literacy. We also commend the diligent and thorough work of the Task Force members, who engaged Canadians in every province and territory in building a much-needed national strategy on financial literacy. There is no better time for government to take the lead in helping Canadians increase their knowledge and skills to manage everyday finances.

As a first step, and as committed to in the next phase of Canada's economic action plan, we will move forward on the first ever financial literacy leader to promote and improve financial literacy in Canada. We are doing even more. We are also providing $3 million a year in new funding to the Financial Consumer Agency of Canada to support financial literacy initiatives to help consumers make the best financial decisions to suit their and their families' particular needs.

I am going to take a moment to echo the comments made by the member for Edmonton—Leduc with regard to the FCAC. Its efforts have been tireless in trying to promote financial literacy, particularly among our youth. I commend the member for disclosing to Canadians how they can reach this information, how they can learn from the FCAC by visiting its website.

Today's motion encourages our government to stay focused on this important issue and implement the recommendations of the task force, and we appreciate that.

Only a few weeks ago, the Minister of Finance attended, along with the member for Edmonton—Leduc, a kickoff event for Financial Literacy Month. This is an initiative developed by the Financial Literacy Action Group, a group of seven non-profit organizations all devoted to working to improve financial literacy in communities across Canada. By supporting today's motion, especially by Parliament endorsing Financial Literacy Month, we are showing our appreciation for the group's work and efforts. This is something our American neighbours have already done through a bipartisan resolution unanimously passed in Congress, which hopefully we can replicate here in the House of Commons.

Our Conservative government has been working hard since 2006 to make financial services products more transparent and consumer friendly. We believe Canadians should not need a magnifying glass or a dictionary to read a credit card statement or application. They should not need a lawyer or an economist to understand them.

That is why we have taken measures like protecting consumers with new credit card rules that will require consent for credit limit increases, a minimum 21-day grace period on new purchases, full disclosure for consumers, and that will limit other anti-consumer business practices. We are banning negative option billing for financial products, and of course, shortening the cheque holding period.

In the next phase of Canada's economic action plan we want to build on that record with more consumer friendly measures, such as banning unsolicited credit card checks and moving to protect consumers of prepaid cards.

I thank the member for Edmonton—Leduc for today's motion and his commitment to improving financial literacy.

Other members across the way have stated very clearly how they intend to vote on this matter. I encourage members of the NDP and the Liberal Party to think very hard when they stand to vote, hopefully in favour of this motion.

The member for Edmonton—Leduc has worked hard on this measure for many years. This is a measure that Canadians across the country have asked for and need. As a mother of five, I can assure the House that I want my children to learn from this. I applaud the member for Edmonton--Leduc for moving this motion, for helping me to educate my children, and for helping other Canadians to educate their children. I hope the NDP and Liberal members will support that effort.

[Financial Literacy, November 15th, 2011]

Madam Speaker, I cannot disagree with my colleague from the Liberal Party more, but what I can agree with is this wonderful motion put forward by the member for Edmonton--Leduc.

I want to congratulate this wonderful member for his work, not only on this motion, but for all of the efforts he has made to promote financial literacy. His leadership on this very important file speaks to the record of Parliament over the last decade that he has been here.

Since his election in 2000, he has become one of the most respected of all the parliamentarians here. He is one of the members to whom new members often go to for advice. He has served as the chair of the industry committee and is currently the chair of the finance committee. As chair of these committees, he has guided very important studies on a number of issues, ranging from supporting Canada's manufacturing sector to improving Canada's retirement system to ensuring oversight over the credit and debit system, and there is so much more. He has also been at the forefront, just recently, of a cross-country tour to conduct some pre-budget consultations. He has been very active in helping all committee members to listen to Canadians and to allow them to make sure their voices are being heard.

I know that I speak for all members of the finance committee, some of whom are here, when I extend our thanks to the chair of the finance committee for all that he has done this fall during those pre-budget consultations as we travelled across Canada.

We need not just take my word for it; here is what journalist Don Martin had to say about the member from Edmonton--Leduc: “[He] remains highly respected by all sides and is the best committee chair on the Hill”.

[Keeping Canada's Economy and Jobs Growing Act, November 15th, 2011]

Mr. Speaker, I thank my colleague for his speech. I would like to quote some journalists who have clearly said that what the Conservative government is doing corresponds to what Quebec wants. The quote is in English.

The Calgary Herald editorial said:

The $2-per-vote subsidy...weighs heavily in terms of its political significance. The measure had a distorted benefit in Quebec for the Bloc Quebecois, that only had to campaign in one province. Phasing out the subsidy also forces political parties to do their own fundraising, while asking Canadians to back up their beliefs by putting their hard-earned dollars behind the parties they support.

If this measure is supported across Canada, particularly in Quebec, why are this member and his party opposed to what Canadians and Quebeckers want?

[Keeping Canada's Economy and Jobs Growing Act, November 15th, 2011]

Mr. Speaker, I commend my colleague across the way for her speech. However, I would like her comments on a very serious situation that occurred in Quebec. In fact, many of the people who probably elected her are familiar with the Earl Jones case.

As Bill C-13 discusses a securities regulator and there are provinces that are on board to try to address this problem, I would like to hear what the member says to the victims of the Earl Jones case when Joey Davis of the Earl Jones victims committee said very clearly, “We support the idea of a single national regulatory body overseeing financial organizations”.

[Keeping Canada's Economy and Jobs Growing Act, November 15th, 2011]

Mr. Speaker, I just want to compliment our minister on his response to that hypocritical question by a member of the Liberal Party.

We met, several times, with volunteer firefighters and with chiefs of fire departments across this country who stated very clearly that they were begging the former Liberal government when it was in power for 13 long years to do something to help them. What did the former Liberal government do? Nothing.

I want to compliment the minister, and I want him to explain how the new family caregiver tax credit will benefit people regardless of whether the Liberal Party or the NDP vote for it.

[Keeping Canada's Economy and Jobs Growing Act, November 15th, 2011]

Madam Speaker, I am a bit shocked by the reaction of the hon. member opposite. I can assure you he does not react that way in committee. I hope this was a momentary lapse. I hope it will not happen again in this House of Commons.

When we talk about the economy and the jobs that have been created, we have to look at the facts: since July 2009, 600,000 net new jobs have been created in our economy. Why? Because our government has created an environment that supports businesses and employers in Canada.

What does the NDP want to do? It wants to increase taxes on businesses across the board, which represents $10 billion. It wants to double Canadian pensions, which will again affect our businesses with taxes that will be much higher, perhaps 70%, as the CFIB, the Canadian Federation of Independent Business, has said.

Let us talk about what the hon. member said. He said we did not have full-time jobs, but 90% of the jobs are full time.

[Keeping Canada's Economy and Jobs Growing Act, November 15th, 2011]

Madam Speaker, I would like to thank the hon. member for her question. She is new here in the House of Commons. Those of us on the government side of the House recognize that police across the country truly trust our Conservative government. How do we know this? Because we have introduced a number of bills. For years, we have been introducing bills that aim to give police officers new tools and that also aim to help them do their work of protecting Canadians. Each time we have introduced a bill to protect Canadians and help the police, the NDP has voted against our measures.

I recognize—and I invite Canadians to recognize this as well—that there are Conservative members here, in the House of Commons, who are police officers. Eleven members of the Conservative caucus are police officers. They are here to provide information so that we can introduce bills that will help the police. The NDP has no police officers in its ranks. We will not be taking lessons from the NDP. We will listen to the police officers across Canada and those in our caucus.

[Keeping Canada's Economy and Jobs Growing Act, November 15th, 2011]

Madam Speaker, it is an honour and a pleasure for me to rise to support Bill C-13.

This is a wonderful opportunity for me to speak to Bill C-13, the keeping Canada's economy and jobs growing act. I was happy to support the bill when it was referred to the finance committee for study earlier this month and I am pleased to speak to it once again.

Our government has introduced the next phase of our economic action plan, which keeps us on track to return to balanced budgets in the medium term.

This legislation builds on the success of our stimulus plan by creating the right conditions for business to create jobs and grow our economy through low taxes and a clear plan for sustainable economic prosperity.

As we know, these are troubled financial times. Mark Carney, the Bank of Canada governor and newly appointed chairman of the Financial Stability Board, warns us that Europe is headed for a second recession. Sovereign debt and the undercapitalization of European banks threaten economic stability.

While Canada's strong regulation and prudent fiscal policy keep us strong in the face of crisis, we are not an island. We are not immune. Global events demand sound decision-making to be certain that we do not succumb to the mistakes of others.

The best way to ensure that our economy remains productive is with a fair, efficient and competitive tax system.

Lower taxes support Canadian business by providing entrepreneurs with the freedom to grow. Reductions in corporate taxes increase incentives for firms to invest in new equipment, undertake innovative research and create high-quality jobs. That is why I am pleased to support Bill C-13, because it gives employers the advantage they need to keep our economy strong.

I am proud that this legislation continues to build on the success of Canada's economic action plan, especially through the support it provides for small business.

Local enterprise is the engine of our economy, creating opportunity not just for owners, but for those that they employ.

The government agrees with the Canadian Federation of Independent Business when it says that small businesses are indispensable in their role as job creators and innovators all across Canada.

To hedge against resurgence and global economic uncertainty, it is important that small businesses are able to hire new workers so they can take advantage of emerging opportunities.

That is just one reason Bill C-13 includes a temporary, one-time hiring credit for small business which provides up to $1,000 against an employer's increase in its 2011 employment insurance premiums over those paid in 2010. This temporary credit will be available to approximately 525,000 employers, reducing their 2011 payroll costs by about $165 million.

Again, I would like to quote the Canadian Federation of Independent Business which told us:

This credit will be a major help to small firms in growing their workforce.... This credit will exempt some small employers from having to pay premiums on an increase in their payroll in 2011 over 2010 levels. As an example, this credit will allow a [new] firm with less than $413,000 in payroll to create one new $40,000 per year job without paying any EI on that new position.

These businesses may be small but their impact on the Canadian economy is anything but. They represent almost half of Canada's economic output, and we are grateful for their resilience in supporting our economic recovery.

Our government's support for the job-creating power of business extends beyond main street to a growing number of international markets.

Canadian business owners need the ability to compete not just next door, but with partners all around the world. We are opening these markets through an ambitious trade agenda, including mutually beneficial deals with the European Union and India.

To maximize the benefits of these agreements, we are improving our trade policies and regulations.

By simplifying and streamlining the Customs Tariff Act, we are lowering the administrative burden for business and government. Less red tape will result in lower customs processing costs for Canadian businesses, ensuring that they are more competitive both at home and in the global marketplace. Our government understands that Canada is a trading nation. This measure recognizes the importance of remaining globally competitive in order to sustain a fragile economic recovery.

While we have made great strides in improving our open and efficient trading system, we know that global competitiveness demands highly skilled workers. That is why the keeping Canada's economy and jobs growing act invests in education and training by making occupational, trade and professional examination fees eligible for the tuition tax credits. It is estimated that more than 30,000 individuals will benefit each year from this measure. This includes foreign trained workers who are often required to complete additional examinations in order to obtain their professional status here in Canada.

This tax relief builds on the support provided to apprentices through the apprenticeship incentive grant provided in budget 2006, and the apprenticeship completion grant, which was introduced in budget 2009.

Furthermore, this legislation makes important enhancements to the Canada student loans program to ensure that large numbers of full- and part-time students have access to financial assistance. We are expanding eligibility for Canada student loans and grants by allowing students to earn more money without impacting their loans, allowing part-time students to have higher family income without affecting their eligibility for support, and reducing the in-study interest rate for part-time students to 0%. These measures will save part-time students approximately $5.6 million per year, making part-time study more affordable for more Canadians. Not only that, they will ensure that Canada's workforce remains highly skilled and internationally competitive, helping to lay the foundation for sustainable economic growth.

In keeping with our investments to strengthen our global competitiveness in uncertain economic times, this legislation offers targeted tax reductions to further encourage business to drive our economy forward. We are expanding tax support for clean energy generation to encourage green investments. We know that clean energy technology and innovation are essential to realizing economic opportunities, creating employment and enhancing the Canadian economic advantage.

We are extending the mineral exploration tax credit for flow-through share investors by one year to support Canada's mining sector. We understand the importance of promoting the exploration and development of Canada's rich mineral resources.

We are extending the accelerated capital cost allowance treatment for investments in manufacturing and processing equipment for two years. We realize that our manufacturing sector needs our support, now more than ever, in adapting to the demands of the recovery.

As recent world events demonstrate, there remains considerable risk and uncertainty in the global economy and too many Canadians remain out of work. For these reasons, the government is building on the achievements of Canada's economic action plan with Bill C-13, designed to secure the recovery, create jobs and preserve Canada's fiscal advantage.

The government knows that this is the right action to take. I urge members of the House, and all Canadians, to remember that the alternative, which is the NDP's massive tax hikes, would kill jobs, stall our recovery and set Canadian families back.

I will take a moment to address something that my colleague said earlier, something that was misleading to Canadians. When it comes to this Conservative government, we have made a promise to make sure that jobs are protected. We have made a promise to protect Canadians and we have said that, to protect Canadians, an office for a securities regulator is important to prevent things like the Earl Jones tragedy in Quebec. I would implore the Quebec MPs on that side of the House, who were elected by Quebeckers who want this to happen, to support that decision, if that in fact is the decision of the Supreme Court of Canada, to allow the jurisdiction to be recognized by the Government of Canada.