Budget Implementation Act, 2023, No. 1
Date: 2023_04_27
Chamber: HOUSE OF COMMONS
Mr. Fraser Tolmie: it is an honour to stand in this House representing the great hard-working people of Moose Jaw--Lake Centre--Lanigan. As parliamentarians, we sometimes have to deal with unpleasant situations, like today, when unfortunately I have to critique the Liberal government's latest inflationary budget. Let me state the dismal facts that confront Canadians. This budget is set to increase the national debt to a record of $1.3 trillion. The interest payments alone on this debt will reach $50 billion, which is $10 billion more than Canada spends on national defence. The government's revenue, or taxes on Canadians, has nearly doubled since the Liberals took office eight years ago. In other words, the finance minister has managed to create a budget with both record revenue and record deficits. This record spending will only throw gasoline on the inflationary fire that Canadians are already struggling with. It will not help people who are struggling to get by. Our party had three demands of this budget, none of which have been met. First, we wanted to help Canadians bring home better paycheques with lower taxes and for the government to scrap the carbon tax. Instead, the Liberals tripled down on higher taxes by tripling their carbon tax earlier this month. As the PBO reported, this tax will cost the average family far more than what they get back in rebates. Here is the simple equation. In Saskatchewan, the average household will spend an additional $410 this year beyond the $1,781 they get back. Let me say that again. In order to get $1,781 in rebates, they will need to spend $2,191. I have to ask if this is the new math kids are doing in school, because it does not work. Let me state the facts. The government is putting a price on people with this carbon tax. Liberal inflationary spending has also caused the price of food and groceries to skyrocket. One in five Canadians is skipping meals. People are going to food banks who have never gone before. We are blessed to live in a country with an abundance of natural resources and agricultural goods, and this should never happen. "Canada's Food Price Report 2023" predicts that a family of four will spend over $1,000 more on food this year. That is nearly $600 more than the grocery rebate announced in this budget. Here is the equation: spend $1,000 and get $400 back. It is bad math. Let me be clear. Not everyone qualifies for this rebate; most do not. Add to the equation I just shared that a large majority of Canadians will continue to struggle with the cost of food, along with the ever-rising carbon tax, with no help from the government. This compounds the cost of living crisis all Canadians are facing. This is after yet another hike in payroll taxes. Overall, the average Canadian will see another $305 deducted from their pay. They take home less and pay more. Canadians are slowly getting their pockets picked by the Liberal government. The government's grocery rebate is simply giving money back to Canadians that has already been clawed away from them with tax hikes. It will not solve the cost of living crisis. The government is forcing Canadians to be dependant on it. It taxes them and gives them rebates when it sees fit, instead of trusting Canadians with their own hard-earned money. Conservatives demanded that the government end inflationary debt and deficits that drive up inflation and interest rates. Obviously, this condition was not met, and I would have been absolutely stunned if it had been. After all, the Prime Minister has added more debt than all other prime ministers combined and has no plan to balance the budget and control his inflationary deficits. Our national debt this year is projected to reach $1.2 trillion. To put that in perspective, that is nearly $81,000 of debt per household. The fall economic statement tabled just a few months ago projected a $4.5-billion surplus in 2027-28. Now that is all gone, with more massive deficits years into the future. In last year's budget, the finance minister said that Canada's debt-to-GDP ratio was her fiscal anchor and that this number must decline for Canada's finances to be sustainable. She said: ...let me be very clear: We are absolutely determined that our debt-to-GDP ratio must continue to decline. Our deficits must continue to be reduced. The pandemic debt we incurred to keep Canadians safe and solvent must--and will--be paid down. This is our fiscal anchor. This is a line we shall not cross. It will ensure that our finances remain sustainable. According to this budget, our debt-to-GDP ratio is set to increase from 42.4% to 43.4% this year. The finance minister herself knows that her inflationary debt and deficits are unsustainable. Let us relate this to a household budget in which someone is putting tens of thousands of dollars each year on their credit cards while only paying the minimum amount. We all know this is unsustainable, and this is happening year after year. We cannot borrow our way out of debt. We cannot spend our way out of debt. Conservatives' third demand was to remove government gatekeepers to free up land and speed up building permits to help build homes people can afford. The dream of home ownership for young and new Canadians under the government has died. Nine in 10 people who do not own a home say they never will. Over the past eight years, the down payment needed to buy a home has doubled. The average monthly mortgage and rent payments have nearly doubled in the same time. What used to cost $1,400 eight years ago is now over $3,000. When the government took office, someone needed just 39% of their average paycheque to make monthly payments on the average house. Today, that has risen to 62%. We should remember that on top of that 62%, we are still facing the cost of living crisis, with the cost of groceries skyrocketing and the carbon tax increasing the cost of everything. Things are more expensive and Canadians are taking home less. Let us talk about what this budget has, or rather does not have, for Saskatchewan. If we look through the document, Saskatchewan is mentioned only five times, and where it is mentioned is in paragraphs bragging about announcements made as far back as the summer of 2022 and some with little or no involvement of the federal government at all. Our agriculture industry is barely mentioned as well, although this is hardly surprising with our current minister 's abysmal track record in supporting our agriculture producers. What our agriculture sector needs most is relief from the punitive carbon tax. If the government was not so focused on trying to impress its European friends, it would know that our farmers are already tremendous stewards of the environment. Forcing them to pay obscene amounts in carbon tax means that they are less able to spend on needed new equipment that would lower their carbon footprint. Thankfully, my friend from Huron--Bruce is working to fix that. His bill, Bill C-234 , has passed the House, despite opposition from the government and the agriculture minister , and it is now making its way through the Senate. I pray that common sense will prevail and our farmers will see tax relief soon. This budget has failed to do anything to help Canadians. It has failed those who are struggling with higher taxes and inflation. It has failed those who want to some day buy a home. It has failed our agriculture sector. It has failed Saskatchewan, and it has failed Canada. The cost of living crisis is real and it is hurting Canadians. The price of gas in Moose Jaw has risen over $1.60 after the government tripled its inflationary tax. This is not an environmental plan; it is a tax plan. The Prime Minister has said that he has put a price on pollution, but the fact is that he has put a price on people. This is a bad budget, and I will not be supporting it.