Hon. Pierre Poilievre - 16:13

Lib. (ON)
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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—
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Hon. Pierre Poilievre - 16:14

Lib. (ON)
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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.
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Hon. Pierre Poilievre - 16:14

Lib. (ON)
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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.
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Hon. Pierre Poilievre - 16:14

Lib. (ON)
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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.
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Hon. Pierre Poilievre - 16:15

Lib. (ON)
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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.
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Hon. Wayne Easter - 16:16
Hon. Pierre Poilievre - 16:16

Lib. (ON)
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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.
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Hon. Wayne Easter - 16:16
Annie Koutrakis - 16:16

Lib. (ON)
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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.
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Hon. Wayne Easter - 16:20
Michael McLeod - 16:20

Lib. (ON)
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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.
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Hon. Wayne Easter - 16:23
Gabriel Ste-Marie - 16:23

Lib. (ON)
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The short answer is yes, absolutely. I can share the details if—
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Gabriel Ste-Marie - 16:23

Lib. (ON)
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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.
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Gabriel Ste-Marie - 16:25

Lib. (ON)
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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.
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Gabriel Ste-Marie - 16:29
Peter Julian - 16:30

Lib. (ON)
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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.
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Peter Julian - 16:32

Lib. (ON)
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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.
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Hon. Wayne Easter - 16:34
Hon. Pierre Poilievre - 16:34

Lib. (ON)
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As the member knows, I neither have a crystal ball nor am I the Governor of the Bank of Canada.
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Hon. Pierre Poilievre - 16:34

Lib. (ON)
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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.
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Hon. Pierre Poilievre - 16:35