The hammer drops once again, Madam Speaker.

In the time that I have left, and there is not much of it, I want to talk about what the bill proposes. We can support many aspects of it. In fact, we did support it through committee and several suggestions were made at committee. However, it is disturbing that the debt ceiling is going to be raised over $600 billion. When we think of where we were a year and a half ago, the overall debt in the country was $600 billion. We are now looking at $1.83 trillion in debt, and that is concerning.

I know it is awfully difficult for people to understand the magnitude of what we are going to be facing with respect to deficits. We know right now that we are at $343 billion roughly. Hopefully, we will find out on Monday with the budget exactly where we are. That combined with the actual debt, which today stands at $1.2 trillion, is quite concerning.

Again, I am not discounting the fact that Canadians have needed the help, but we have been focused a lot over the last year on the expense side of the ledger. Many of the measures that have been implemented have been there to support Canadians, but there is a reason we continue to be in what is seemingly a never-ending pandemic scenario, and that is because of the failure of the government to procure vaccines and to ensure there is enough vaccine distribution for Canadians.

This amount of deficit, the increased spending, is going to continue, but at some point we really have to start turning our minds to the revenue side of the ledger and how we are going to pay for this. Make no mistake that, yes, government has supported Canadians and has taken on a hefty burden of that debt, but at some point it will have to be paid back.

Two things happen: Taxes go up and services go down. That is just a fact of life, and I think most Canadians would understand that, but we have to focus on what an economic recovery looks like.

Economic recovery has to include every part, every sector, every region and every individual of the country. It is not some reimagined or imaginary economy. Canada will have to rely on the power of our businesses. We will have to rely on the people who are employed in those businesses, the products they produce and ensure we are competitive both domestically and internationally. We need to create an air of investor confidence both here, domestically, and for foreign investment as well. When I talk about every sector of our economy having to fire on all cylinders to pay for the debt and deficit situation we are in, that includes ever sector of our economy, including our natural resource sector. These are the important things we are going to have to eventually turn our minds to.

When I talk to people, I ask them how much is too much when it comes to that. I think of my former life as a firefighter and the salary that a firefighter, a nurse and all those occupations make. If they pay 40% income tax right now, how much is too much to pay for this unless we get our economy going again? Is 50%, 60% or so on too much? Is raising the GST 5%, 6% or so on too much? What about home equity taxes? Is taking the capital gains and paying the equity that people have built into their home going to be too much at that point? We know that the government has looked at it. We know that CMHC has proposed a study on this through the University of British Columbia.

A former finance minister stood up in the House and guaranteed Canadians something. I asked him many times whether he would implement a home equity tax. He said no. He is no longer here. Maybe the Prime Minister has found the path of least resistance, because we know that is a low-hanging fruit opportunity for them as well.

These are the types of things that should be on the minds of Canadians when it comes to the government proposal, through legislation, to raise debt ceilings, incurring more and more debt and deficits. Eventually, somebody will have to pay for this. Canadians are not naive. They know that money does not grow with fairy dust or grow on trees. They know that eventually somebody will have to pay for this.

Of course, to create this booming economy coming out of this recession where nobody is left behind, it is in terms of those sectors and regions around the country to create the tax revenue, both from a corporate tax standpoint where the businesses are making money to pay those taxes, and from the individuals who are gainfully employed paying those taxes, which is going to become critical to the success of our economic recovery.

I Just wanted to make those points, and that Parliament reigns supreme still. We have the oversight of government spending, and that has to be maintained. Fortunately, for all Canadians, we have been in a minority situation where we have been able to highlight some of the inefficiencies of this government in the past. I fear that if a majority situation were to happen, Canadians would be worse off. So, we are going to provide an alternative to Canadians. We are going to talk about the economy. We are going to secure our future. We are going to make sure that every Canadian succeeds coming out of this pandemic.

John Brassard

$478,972.00