Mr. Speaker, I must say I am genuinely intrigued by the opposition Conservatives' new-found appreciation for the hard work and evidence-based analysis offered by the independent, non-partisan officials from the Department of Finance. Previously they tried to muzzle everyone. As I have been listening to the debate, I really thought I was in Wonderland.

It is, however, very unfortunate for Canadians that the opposition only came to the realization about evidence-based and factual information after leaving office. Regrettably, the Conservatives made it clear while they were in government that they preferred the advice and analysis of outside organizations to that of the Department of Finance. Unfortunately, because of that, we see the current economic crisis and the challenges we face.

Our government's first economic and fiscal update, produced by the very same finance department that the opposition suddenly holds in such high esteem, confirms that the predictions made by the previous government in budget 2015 were off by around $6 billion. This means that our government inherited a projected deficit of $3 billion for 2015-16, which is a stark contrast to the $13 billion that the previous Liberal government left them in 2006. After inheriting a $3-billion surplus, we have to work hard to ensure that we balance the budget, as promised.

Canadians elected our government to address the whole range of myths and other challenges that the previous government left us. We are doing so by implementing an ambitious economic agenda that will get our economy growing again. Our work in advancing this agenda is well under way. The only people who believe that the Conservative government left behind a surplus are the Conservatives themselves. Canadians know better.

Let us get some facts right. The previous Conservative government claimed a surplus without booking the $3.4 billion payment it made in July. It claimed a surplus by withholding $1 billion from veterans, the DND cuts, the lapsing of funds, and the list goes on. Instead of smoke and mirrors, let us acknowledge the fact that the previous Conservative government left us in a deficit. Conservatives do not want to acknowledge that they were the worst economic managers. They had eight consecutive deficits and they are still claiming that they left us with a surplus. The reason they are so terrible in managing the economy is that they do not realize that the budget is for a full year, not a monthly fiscal snapshot. It is like people looking at their bank accounts after payday but before they make their mortgage payments. We do not really know what expenses the Conservatives left for the next government.

As mentioned, the previous Liberal government left behind a $13-billion surplus in 2006. The Conservatives squandered it and accumulated an additional $150 billion in new debt while still managing to deliver the worst economic growth since the Great Depression. They must make note of all this. Those are the facts. All of that is coupled with no plan for supporting the middle class, no growth agenda, and no plan to invest.

The “Fiscal Monitor” cited in the opposition member's motion is a snapshot in time, as I said, and does not tell the full story. It is like counting chickens before they hatch. The economic and fiscal update presented in the November statement by the Liberal government gave Canadians a transparent picture of our economic and fiscal situation.

Let me begin with an important example.

When we took office, in just over 100 days, we made it our immediate priority to deliver a tax cut for the middle class. We took actions on the understanding that Canadians should have a real and fair chance to succeed, and central to that is a strong and growing middle class. In December, at the earliest opportunity, we delivered on this commitment.

Effective January 1, 2016, our proposed middle-class tax cut reduced the personal income tax rate from 22% to 20.5%, which provided $3.4 billion in annual relief to nine million Canadians, and that is a lot. Single individuals who qualify will see an average tax reduction of $330 every year, and couples who qualify will see an average tax reduction of $540 every year. To help pay for this middle-class tax cut, the government is asking the wealthiest 1% of Canadians to contribute a little more. We therefore created a new top personal income tax rate of 33% for those earning in excess of $200,000.

With these measures, we are already delivering on what we promised to Canadians. This is just one example of what we have accomplished as a government.

In our first 100 days, we appointed the first ever gender-balanced cabinet. We have championed climate change at the Conference of the Parties in Paris, and out of the momentum of those meetings, have now met for a second time with our provincial and territorial partners to determine the right path forward for Canada on this critical file. In 100 days, we have done more than the previous Conservative government ever did.

We have also renewed our relationship with Canada's indigenous peoples through the full endorsement of all 94 recommendations proposed in the final report of the Truth and Reconciliation Commission, including a new inquiry into missing and murdered women.

These accomplishments do not take place without the hard work and commitment of our government.

It is interesting that, with the Conservatives' motion, they now believe strongly in facts. They did not want facts when they eliminated the long-form census, muzzled scientists, and did not listen to the Department of Finance.

We need to work together and defeat a motion which is filled with fallacy.

Yasmin Ratansi

Transcript

Government Orders

Discussions (0)