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Results: 61 - 90 of 118
View Chrystia Freeland Profile
Lib. (ON)
Ms. Jansen, our response to the pandemic has been to do whatever it takes for as long as it takes to support Canadian families, Canadian jobs and Canadian workers. When it comes to health measures, we take those in close consultation with scientists and in working very closely with our provincial and territorial partners. The border is an issue that we have discussed at great length with our provincial and territorial partners. We're acting together.
View Chrystia Freeland Profile
Lib. (ON)
Ms. Koutrakis, thank you for your tireless work and your very important question.
I completely agree with you. In the riding of Vimy, and elsewhere in Canada, there has always been spousal violence and violence against women.
However, during the crisis and the accompanying lockdowns, we've observed a tragic increase in such violence. The lockdowns were and continue to be particularly dangerous for women and children. That's why it was very important for our government to invest in helping women who were victims of violence to find a place where they could take shelter. This was very important and I'm proud of our efforts so far.
However, Ms. Koutrakis, I completely agree with you that we need to continue with this essential work. Everyone has made sacrifices during the lockdown, but some people have been put directly in harm's way. We have an obligation to help them.
View Chrystia Freeland Profile
Lib. (ON)
That's another excellent question.
The most important thing to understand is that the economic crisis we're experiencing today is different from the other crises we have had. The current economic crisis is nothing like the 2008 crisis, for example.
It has hit women, young people and low-income workers hard. That's why it will be important for the economic response to be tailored to the crisis we are experiencing. That's also why it's so important to have an economic response and a recovery plan that targets women, young people and low-income workers.
View Chrystia Freeland Profile
Lib. (ON)
Mr. Chair, I'd like to add something.
View Chrystia Freeland Profile
Lib. (ON)
Very quickly, I will just add this.
Ms. Koutrakis, I would further add that if women are not participating in the economy, then we can't have true economic growth. So by helping women, we would be creating economic growth for everyone.
View Chrystia Freeland Profile
Lib. (ON)
Don't forget the bagpipes.
View Chrystia Freeland Profile
Lib. (ON)
Goodbye, everyone.
Thank you very much, Mr. Chair.
Thank you very much, parliamentary colleagues. I appreciate your hard work.
View Chrystia Freeland Profile
Lib. (ON)
Thank you, Chair.
Let me quickly thank the fine public servants who are with me. I'm accompanied by Andrew Marsland, senior assistant deputy minister, tax policy branch; Nick Leswick, assistant deputy minister, economic and fiscal policy branch; Evelyn Dancey, from the economic development and corporate finance branch; Soren Halverson, financial sector policy branch; and Katharine Rechico, from the international trade and finance branch.
We have brought a full court press.
I'll just make some opening remarks then I'm happy to answer your questions.
Protecting the health and safety of Canadians is the government's top priority. As you know, last week, I released the government's fall economic statement for 2020, entitled “Supporting Canadians and Fighting COVID-19”.
The second wave of the pandemic—
View Chrystia Freeland Profile
Lib. (ON)
Yes, I did it. My apologies.
View Chrystia Freeland Profile
Lib. (ON)
The second wave of the pandemic is aggressive. The winter will be challenging, but there is reason to be optimistic. Safe and effective vaccines are coming soon, and we have a plan to face the months ahead and kick-start the economy.
View Chrystia Freeland Profile
Lib. (ON)
The fall economic statement details our plan to protect Canadian lives, Canadian jobs and Canadian businesses, and we are moving quickly to deliver on our commitments.
The legislation I tabled last week, Bill C-14, proposes to move forward with several urgent COVID-19 related measures in the fall economic statement that will help Canadians get through this pandemic and strengthen our health response.
For example, the legislation would provide low- and middle-income families who are entitled to the Canada child benefit with additional support of up to $1,200 for each child under the age of six in 2021.
It would also help young Canadians by eliminating, for one year, the interest on their repayment of the federal portion of the Canada student loans and Canada apprentice loans.
Bill C-14 also sets out up to $505.7 million in 2021 to help long-term care facilities prevent the spread of COVID-19. Under the bill, $400 million in additional funding will also go to various measures including support for mental health, substance abuse, COVID-19 testing and telemedicine.
I hope all members will consider this legislation with the urgency it deserves. I know that we all know that Canadians are counting on us.
Mr. Chair, last week's fall economic statement also outlined a growth plan to jump-start Canada's economy once the coronavirus is under control.
The government will invest between 3% and 4% of Canada's gross domestic product, or GDP, over three years. The government will provide further details on its recovery plan in the months ahead leading up to budget 2021. The plan will be based on creating good jobs for the middle class.
This, Mr. Chair, is needed economic policy and this is smart economic policy. One of the lessons of the 2008-09 global financial crisis is that withdrawing fiscal support too soon after a deep downturn can hamper growth for years afterwards. Our government will not repeat that mistake.
That said, our stimulus, our growth plan, will be time limited and carefully targeted. Fiscal guardrails will help us establish when the stimulus will be wound down. When the economy has recovered, time-limited measures will be withdrawn and Canada will resume its prudent and responsible fiscal path.
Uncertainties about the timing of the pandemic and global economic developments mean that the timeline for recovery should not be locked into a rigid, predetermined calendar. Instead, the government will track progress against several related indicators, recognizing that no one data point is a perfect representation of the health of the economy. These indicators include the employment rate, total hours worked and the level of unemployment in the economy.
Mr. Chair, I'm very glad the committee is beginning its consultations. The federal government will launch our own pre-budget consultations in the new year. We all very much look forward to hearing from Canadians about their priorities as we design our growth plan.
I look forward to hearing Canadians' ideas on what we can do to support families and businesses, kick-start the economy and keep Canada's strong fiscal position.
We Canadians have faced adversity in the past. We've faced tough winters, and we have always emerged stronger than before. I know that we will this time too.
I would be pleased now to answer your questions.
View Chrystia Freeland Profile
Lib. (ON)
Thank you for the question.
Let me point out that jobs recovery in Canada, while incomplete, has actually been strong, in that 80% of the jobs lost in the depth of the coronavirus recession have recovered, and that compares to just around 60% in the United States. Canadians are going back to work, and I congratulate them.
On the tax front, Mr. Chair, let me also point out that we have frozen the level of EI contributions very much in recognition of the fact that the Canadian economy needs some work, and when it comes to groceries—
View Chrystia Freeland Profile
Lib. (ON)
Let me just say that when it comes to groceries, one of the reasons I singled out in my opening remarks the Canada child benefit was that we are very aware of the additional support that some families need.
View Chrystia Freeland Profile
Lib. (ON)
Mr. Chair, as you know, we have announced some additional taxes to level the playing field, such as the introduction of GST/HST on all Internet providers. I think that's fair for Canadians companies. It's the right thing to do.
View Chrystia Freeland Profile
Lib. (ON)
Mr. Chair, I think it is quite wrong to use the term “fleecing Canadians” when it comes to the taxes we pay to contribute to our society and to our communities. As the member knows, we announced the introduction of GST/HST—
View Chrystia Freeland Profile
Lib. (ON)
Mr. Chair, we said what we had to say about tax policy. In the fall economic statement, we committed to introducing taxes on vacant property owned by foreign residents—
View Chrystia Freeland Profile
Lib. (ON)
Mr. Chair, we have outlined very carefully, and I believe very prudently, our plans on the borrowing limit. We believe the prudent level is $1.8 trillion.
View Chrystia Freeland Profile
Lib. (ON)
Actually, Mr. Chair, it's an inexact question, because we are not proposing to borrow that amount of money. We are simply proposing to raise the limit. because that's the prudent thing to do.
View Chrystia Freeland Profile
Lib. (ON)
Mr. Chair, actually, that's not the case at all. A prudent government always creates buffers and creates fiscal space, but as the member knows, there is a very clear difference between borrowing authority and the amount the government has actually borrowed.
View Chrystia Freeland Profile
Lib. (ON)
Mr. Chair, I did not say that the government didn't need the borrowing authority. What I said quite clearly is that there is a clear difference between borrowing authority and the amount the government actually borrows.
As for supporting this legislation or not, it's up to each member of the House to vote as they choose. I believe this is a prudent path that will support Canadians.
View Chrystia Freeland Profile
Lib. (ON)
Mr. Chair, the Bank of Canada is an independent institution. Its independence is one of the key reasons for the strength of the Canadian economy. I think the Bank of Canada is accountable to the people of Canada.
View Chrystia Freeland Profile
Lib. (ON)
Thank you for your question.
I would like to first thank my fellow member for her hard work.
We all know the government and Canadians are doing a lot to build a resilient economy and get back on their feet, even as we deal with the pandemic. We also know, however, that, despite all that we are accomplishing, the pandemic has created a recession.
Earlier I said that 80% of the jobs lost have already been recovered. While that is a good thing, 640,000 people who lost their jobs because of the pandemic are still out of work. That is why we need a growth plan. The government must invest in the economy to ensure a robust and strong recovery. Let me reassure all the members: our primary target is jobs.
It is the government's responsibility to reassure Canadians and make sure they know we will continue to work for them, so that every Canadian who had a job before the pandemic has one after the pandemic. For that reason, we announced a growth plan that will invest $70 billion to $100 billion, as the member said.
I would be pleased to work with the committee on the plan.
View Chrystia Freeland Profile
Lib. (ON)
Thank you very much for the questions. I'll start with the second then move on to the first.
I do want to thank the deputy—I'm looking at you on the screen right now—for his hard work representing the north. I think we are all aware that the north faces particular challenges always, but especially now in fighting the coronavirus.
In terms of cost-sharing programs and government programs to support the north in the fight against the coronavirus, I'm really glad to be able to say that the Northwest Territories received $30.7 million to support a range of measures that the territories have put in place to protect northerners. This includes, critically, the isolation centres, which are expensive but have—and I will be interested in the member's point of view—been, I believe, a critical element in the defence of the Northwest Territories against the coronavirus. Overall, in the fall economic statement we were able to say that the government has provided $272 million to northern communities and businesses.
Let me just say quickly on housing that it is a key area and it's something that we very much support. We realize there is an acute need in the north. The coronavirus, which of course requires us to be able to have space, has drawn particular attention to the housing need and the housing gap in the north, and as the member knows, our government has also committed to a very strong program to support rental housing construction across the country.
View Chrystia Freeland Profile
Lib. (ON)
The short answer is yes, absolutely. I can share the details if—
View Chrystia Freeland Profile
Lib. (ON)
We are working on a program like that right now. We understand the crucial role of the aerospace sector in Canada. It drives job creation and Canada's export market. Our government is convinced that we need a plan to support growth, and the aerospace sector will most certainly be a part of the economic recovery plan.
We all agree that Canada needs to transition to a green economy, and helping the aerospace sector make that transition will be absolutely necessary. We are working on that with Minister Navdeep Bains.
View Chrystia Freeland Profile
Lib. (ON)
Thank you, not only for your question, but also for all the information and advice you shared.
These are unprecedented times, so it's extremely important and useful to talk to our counterparts in other parts of the world regularly. Yesterday, I spoke with France's finance minister during a G7 finance ministers' meeting.
You're right, Mr. Ste-Marie. We are looking at France's and Germany's growth plans, and we are studying them closely. There are always things we can learn, and there may be a few things they can learn from us as well.
During yesterday's discussion between Canada and France, we talked about the green shift and shared ideas. We have a lot in common, so we should work together closely.
I will just add that I wholeheartedly agree that we need to think about clean growth as we develop the growth plan. That approach is very appropriate for the aerospace industry. I also agree that Canada's aerospace sector is very well-positioned, as the member mentioned.
View Chrystia Freeland Profile
Lib. (ON)
Thank you very much for the question.
I do want to thank the member opposite for his advocacy for Canadian working families and for Canadian workers. I know that it is a very sincere concern.
Let me say a couple of things about the wage subsidy. The wage subsidy can, by very clear and specific design, only be used to pay employees. That money cannot be used for any other purpose. That is very important for Canadians to know, and that's something that the government needs to be very careful about and is very careful about.
The design of the wage subsidy was to encourage as many companies as possible to keep as many Canadians on the payroll as possible. So far, the wage subsidy has kept almost four million Canadians on the job. It has kept them employed. I think that is very important.
View Chrystia Freeland Profile
Lib. (ON)
Thank you again very much for the question.
As the member opposite knows, in designing these COVID programs, we had to balance, and we continue to have to balance, the need to get the money and the support out there to keep as many people as possible in their jobs—which is our first and clear priority—with the need for compliance, audits and rules. We're always trying to strike that balance, and I believe that with the wage subsidy, we've done that.
I do want to emphasize for the member opposite, but also for any companies who are listening, that the wage subsidy must be used to pay workers. That is very clear, and we expect companies to comply with that policy.
View Chrystia Freeland Profile
Lib. (ON)
As the member knows, I neither have a crystal ball nor am I the Governor of the Bank of Canada.
View Chrystia Freeland Profile
Lib. (ON)
We were clear in the fall economic statement and in our printed documents that 10-year and longer bonds make up 50% of the issuance in 2019-20. They're planned to make up 29% of the issuance in 2020-21.
Results: 61 - 90 of 118 | Page: 3 of 4

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