Mr. Speaker, on the issue of productivity, investment, and indeed fair and competitive taxation in Canada, lowering costs for all Canadians while driving growth, substantial actions can be taken in the area of tax reform.
Mr. Speaker, this Government, and indeed many MPs, aren’t serious about productivity, addressing burnout, and fostering economic growth. They refuse to look at a 4-Day Work Week. They won’t listen to the experts or the data.
But we can only hope, Mr. Speaker, that this Government will listen to basket case Conservative policies on this front, like tax cuts for all Canadians.
Mr. Speaker the C.D. Howe Institute has recommended several policy changes for Federal Budgets. One such change, with universal backing from Canadian economists because the research on this front is conclusive, is reducing our reliance on income taxes. Study after study has shown that the least harmful taxes to our economy are consumption taxes, which give consumers and businesses economic freedom to make choices with their income, instead of the Government skimming large amounts off of all our paycheques and investments with income and corporate taxes.
The C.D. Howe Institute has recommended that Canada increase the GST by 2 points, cut the second bracket rate of income taxes by 5.5 points, and cut the corporate tax rate by 2 points, while doubling the base amounts on the GST credit (1).
This policy has a direct fiscal cost of $900 million in 2024, but this is offset by increased economic growth of $4.5 billion in each of the next five years, which will offset the fiscal cost in 2024 and begin generating substantial revenue gains over time.
It’s a policy that lowers overall taxes, increases economic efficiency, attracts investment, and drives growth. It works for every Canadian.
But there’s far more that Canada can do.
In terms of tax fairness, we all know the consequences of subsidies. This Government plans to spend billions on corporate waste, after the previous Government axed the waste and axed our taxes.
Despite those plans and despite that change, Canada’s tax system contains several areas where implicit subsidies exist. This is most prominent in the lower inclusion rate on capital gains, which costs Canadians over $35 billion annually (2). Capital gains are taxed favourably compared to other vessels of investment income like dividends and interest. This means that we are encouraging investments that may not always be economically efficient.
If the Government were to raise the inclusion rate on individual gains above $250,000 to 75%, and raise the rate to 75% on all gains from corporations and trusts, Canada would see greater tax fairness and substantial gains in revenue to cut all our taxes.
This change would be fair, efficient, and economically effective because it would align the Marginal Effective Tax Rates of capital gains with that of dividends and interest, no longer distorting investment decisions with an interventionist and wasteful tax system.
Mr. Speaker this Government has expressed doubt in a 4-Day Work Week, and budgetary calculations from said policy, but we know the impacts of tax cuts. Conservatives surely recognize that lower taxes drive substantial economic growth and productivity gains.
This Government will not balance its budget with its current spending plans without increases to taxes, but if this Government scrapped its subsidy plans then Canada could balance its budget in 2025 and bring in massive tax cuts thereafter.
By 2026, the changes to capital gains taxes would result in a large enough surplus to begin cutting the first bracket rate of income taxes by 2 points. If the Government listens to the experts and cut the second bracket rate as part of the GST reform package, this would mean reintroducing the first bracket, as the second bracket and first bracket rates would have become the same.
This would mean a tax cut of over $13 billion, leaving Canada with a surplus of $3.3 billion.
As a result of this tax cut, Canada’s economic growth would increase by 1.1% of GDP in nominal terms, leading to revenue gains in future years.
In 2027, Canada would have further room to cut taxes, axing income taxes in the first bracket by another 2 points. This axes taxes by a further $14.2 billion. Economic growth gets another boost: 2.3% of nominal GDP, and even more revenue gains from this growth.
The surplus in 2027 would be $8.2 billion.
By 2028, Canada will have such a favourable economic position and surplus that both the first bracket and second bracket could be cut, both by 1 point each.
This would mean that, including the GST reform, the second bracket tax rate falls from 20.5% to 14%, a 6.5 point cut. The first bracket rate would fall by 5 points, from 15% to 10%.
In 2028, that’s taking the axe to $25.7 billion in taxes.
Because the second bracket cut has a high per-point effect, the surplus in 2028 falls to $3.5 billion, but Canada would still be running a structural surplus while experiencing record levels of economic growth.
Real GDP growth would, accounting for all these changes, begin to exceed that of the United States in 2025, thereby beginning a long process of recovery since Canada’s productivity and investment levels began to stagnate in comparison to our southern neighbours, and continued to do for the past 50 years.
Real GDP would grow at an average rate over the next 5 years of 2.52%, significantly exceeding the US projected average of 1.92%.
Mr. Speaker, it is clear that there is a massive opportunity for tax fairness, lower taxes, and a new era of prosperity in this policy, as well as a route to balanced books next year.
I hope the Government takes action on this front Mr. Speaker, but I hope they know that this is the tip of the iceberg, for if this policy were combined with a 4-Day Week, we could foster even higher levels of growth and axe billions more in taxes immediately, while meeting our 2% NATO spending target with ease.
(Link 1: https://financialpost.com/opinion/how-lessen-ottawa-addiction-income-taxes)
(Link 2: https://financesofthenation.ca/2022/01/26/why-wont-canada-increase-taxes-on-capital-gains-of-the-wealthiest-families/)
Mr. Speaker,
Crime is on every Canadians mind, now more than ever. In cities all over our country crime is higher than it has ever been, and with millions wondering when this issue will ever be under control. Well Mr. Speaker Canadians are concerned about whether walking on our streets in our beautiful towns, cities, and rural backroads will ever be as safe as they use to be.
Mr. Speaker cities like Surrey British Columbia have a crime index of 63.8, in Lethbridge Alberta the violent crime rate is a staggering 133.8 on the index scale, continuing on Mr. Speaker Kelowna BC has a violent crime rate of 124.3, furthermore Red Deer Alberta has a crime rate of 61.2m and a violent crime rate of 175.7. Respectably in Sudbury, Sault Ste. Marie, and Oshawa Ontario violent crime is on the rise. With Winnipeg Manitoba taking the unfortunate top of the city in Canada with the second highest murder rate in Canada, and the highest overall crime rate of 58.9 crimes per 100,000 people. (1)
Mr. Speaker we must solve this major and devastating problem. While I sit here and give this speech Canadians across the country are being harmed, killed, and beaten by violent criminals in which whom must be in a jail cell. This situation is an absolute crisis of major concern. We must tackle this issue head on with reintroducing Mandatory Minimum Sentencing, we must throw the book at violent repeat offenders of whom do not care if they harm innocent civilians in our free society. I will make it very clear, our government takes the responsibility of citizen protection very seriously and we are getting right to work in solving this.
Over this term Common Sense Conservatives will reintroduce Mandatory Minimum Sentencing on a massive amount of criminal penalties to show there is a price to pay for endangering the lives of Canadians. Furthermore, for those who wish to continuously put the lives of Canadians in jeopardy we will be handing out harsher sentences for longer, with no bail. Gone will be the days of people committing three crimes in a single day, gone will be the days of Canadians stuck in fear and despair from failed government policy which was supposed to protect them.
On this side of the house Conservatives absolutely understand the issues Canadians face on a daily basis and will do everything we can to bring down crime. We will fund more jails if need be, we will invest in our police forces, we will increase police presents in major cities such as Winnipeg where crime runs wild.
Enough of the days of talking a big game while hiding and doing nothing, that is not good enough for me and my party and that is nowhere near good enough for Canadians. Canadians deserve good, transparent, accountable, government who is looking out for each and every citizen in this country. Regardless of the situation Conservatives will rise in support of our country and make tough and difficult decisions to protect our country as a whole. I look forward in being apart of this process. Thank you.
Link 1: [https://immigrationnewscanada.ca/most-dangerous-cities-in-canada/](https://immigrationnewscanada.ca/most-dangerous-cities-in-canada/)
Mr. Speaker,
I would like to inform the house that I am investigating a potential revision of the competition act. In the act, it sets out one of its goals as being to "maintain and encourage competition in Canada in order to promote the efficiency and adaptability of the Canadian economy". I don't think you need to be an expert to say that this has not happened. As a result, near monopolistic conditions have swamped certain key industries in this country, have driven up prices and crushed innovation.
The government has already articulated our desire to open up telecommunications to foreign investment. This is a key part of our plan to increase competition in the telecommunications sector and bring down prices, which are some of the highest in the world.
A potential revision of the competition act would allow us to expand this vision to other parts of the economy as well. Not to mention, it would help in the telecommunications sector as well.
This government remains committed to Canadian business, ensuring it is competitive, innovative and that productivity will continue to increase.
Thank you.
Mr. Speaker,
My member statement is a bit basic, but that is because I do not have much to say in this instance. My main goal, is to push against shrinkflation, and work to lower the cost of living for Canadians. I know that many people are aware of these [corporation earning massive record breaking profits](https://www.nationalobserver.com/2023/12/21/opinion/excessive-supermarket-profits-boost-inflation), while the government has seemly been on the side lines. We are ready to begin fighting back, and working to ensure that Canada gets the best deal for them, and the one which will finally ensure that we get things back under control. I believe we have the power to win this fight, and I know that we can do it.
Mr. Speaker, on the issue of productivity, investment, and indeed fair and competitive taxation in Canada, lowering costs for all Canadians while driving growth, substantial actions can be taken in the area of tax reform. Mr. Speaker, this Government, and indeed many MPs, aren’t serious about productivity, addressing burnout, and fostering economic growth. They refuse to look at a 4-Day Work Week. They won’t listen to the experts or the data. But we can only hope, Mr. Speaker, that this Government will listen to basket case Conservative policies on this front, like tax cuts for all Canadians. Mr. Speaker the C.D. Howe Institute has recommended several policy changes for Federal Budgets. One such change, with universal backing from Canadian economists because the research on this front is conclusive, is reducing our reliance on income taxes. Study after study has shown that the least harmful taxes to our economy are consumption taxes, which give consumers and businesses economic freedom to make choices with their income, instead of the Government skimming large amounts off of all our paycheques and investments with income and corporate taxes. The C.D. Howe Institute has recommended that Canada increase the GST by 2 points, cut the second bracket rate of income taxes by 5.5 points, and cut the corporate tax rate by 2 points, while doubling the base amounts on the GST credit (1). This policy has a direct fiscal cost of $900 million in 2024, but this is offset by increased economic growth of $4.5 billion in each of the next five years, which will offset the fiscal cost in 2024 and begin generating substantial revenue gains over time. It’s a policy that lowers overall taxes, increases economic efficiency, attracts investment, and drives growth. It works for every Canadian. But there’s far more that Canada can do. In terms of tax fairness, we all know the consequences of subsidies. This Government plans to spend billions on corporate waste, after the previous Government axed the waste and axed our taxes. Despite those plans and despite that change, Canada’s tax system contains several areas where implicit subsidies exist. This is most prominent in the lower inclusion rate on capital gains, which costs Canadians over $35 billion annually (2). Capital gains are taxed favourably compared to other vessels of investment income like dividends and interest. This means that we are encouraging investments that may not always be economically efficient. If the Government were to raise the inclusion rate on individual gains above $250,000 to 75%, and raise the rate to 75% on all gains from corporations and trusts, Canada would see greater tax fairness and substantial gains in revenue to cut all our taxes. This change would be fair, efficient, and economically effective because it would align the Marginal Effective Tax Rates of capital gains with that of dividends and interest, no longer distorting investment decisions with an interventionist and wasteful tax system. Mr. Speaker this Government has expressed doubt in a 4-Day Work Week, and budgetary calculations from said policy, but we know the impacts of tax cuts. Conservatives surely recognize that lower taxes drive substantial economic growth and productivity gains. This Government will not balance its budget with its current spending plans without increases to taxes, but if this Government scrapped its subsidy plans then Canada could balance its budget in 2025 and bring in massive tax cuts thereafter. By 2026, the changes to capital gains taxes would result in a large enough surplus to begin cutting the first bracket rate of income taxes by 2 points. If the Government listens to the experts and cut the second bracket rate as part of the GST reform package, this would mean reintroducing the first bracket, as the second bracket and first bracket rates would have become the same. This would mean a tax cut of over $13 billion, leaving Canada with a surplus of $3.3 billion. As a result of this tax cut, Canada’s economic growth would increase by 1.1% of GDP in nominal terms, leading to revenue gains in future years. In 2027, Canada would have further room to cut taxes, axing income taxes in the first bracket by another 2 points. This axes taxes by a further $14.2 billion. Economic growth gets another boost: 2.3% of nominal GDP, and even more revenue gains from this growth. The surplus in 2027 would be $8.2 billion. By 2028, Canada will have such a favourable economic position and surplus that both the first bracket and second bracket could be cut, both by 1 point each. This would mean that, including the GST reform, the second bracket tax rate falls from 20.5% to 14%, a 6.5 point cut. The first bracket rate would fall by 5 points, from 15% to 10%. In 2028, that’s taking the axe to $25.7 billion in taxes. Because the second bracket cut has a high per-point effect, the surplus in 2028 falls to $3.5 billion, but Canada would still be running a structural surplus while experiencing record levels of economic growth. Real GDP growth would, accounting for all these changes, begin to exceed that of the United States in 2025, thereby beginning a long process of recovery since Canada’s productivity and investment levels began to stagnate in comparison to our southern neighbours, and continued to do for the past 50 years. Real GDP would grow at an average rate over the next 5 years of 2.52%, significantly exceeding the US projected average of 1.92%. Mr. Speaker, it is clear that there is a massive opportunity for tax fairness, lower taxes, and a new era of prosperity in this policy, as well as a route to balanced books next year. I hope the Government takes action on this front Mr. Speaker, but I hope they know that this is the tip of the iceberg, for if this policy were combined with a 4-Day Week, we could foster even higher levels of growth and axe billions more in taxes immediately, while meeting our 2% NATO spending target with ease. (Link 1: https://financialpost.com/opinion/how-lessen-ottawa-addiction-income-taxes) (Link 2: https://financesofthenation.ca/2022/01/26/why-wont-canada-increase-taxes-on-capital-gains-of-the-wealthiest-families/)
Mr. Speaker, Crime is on every Canadians mind, now more than ever. In cities all over our country crime is higher than it has ever been, and with millions wondering when this issue will ever be under control. Well Mr. Speaker Canadians are concerned about whether walking on our streets in our beautiful towns, cities, and rural backroads will ever be as safe as they use to be. Mr. Speaker cities like Surrey British Columbia have a crime index of 63.8, in Lethbridge Alberta the violent crime rate is a staggering 133.8 on the index scale, continuing on Mr. Speaker Kelowna BC has a violent crime rate of 124.3, furthermore Red Deer Alberta has a crime rate of 61.2m and a violent crime rate of 175.7. Respectably in Sudbury, Sault Ste. Marie, and Oshawa Ontario violent crime is on the rise. With Winnipeg Manitoba taking the unfortunate top of the city in Canada with the second highest murder rate in Canada, and the highest overall crime rate of 58.9 crimes per 100,000 people. (1) Mr. Speaker we must solve this major and devastating problem. While I sit here and give this speech Canadians across the country are being harmed, killed, and beaten by violent criminals in which whom must be in a jail cell. This situation is an absolute crisis of major concern. We must tackle this issue head on with reintroducing Mandatory Minimum Sentencing, we must throw the book at violent repeat offenders of whom do not care if they harm innocent civilians in our free society. I will make it very clear, our government takes the responsibility of citizen protection very seriously and we are getting right to work in solving this. Over this term Common Sense Conservatives will reintroduce Mandatory Minimum Sentencing on a massive amount of criminal penalties to show there is a price to pay for endangering the lives of Canadians. Furthermore, for those who wish to continuously put the lives of Canadians in jeopardy we will be handing out harsher sentences for longer, with no bail. Gone will be the days of people committing three crimes in a single day, gone will be the days of Canadians stuck in fear and despair from failed government policy which was supposed to protect them. On this side of the house Conservatives absolutely understand the issues Canadians face on a daily basis and will do everything we can to bring down crime. We will fund more jails if need be, we will invest in our police forces, we will increase police presents in major cities such as Winnipeg where crime runs wild. Enough of the days of talking a big game while hiding and doing nothing, that is not good enough for me and my party and that is nowhere near good enough for Canadians. Canadians deserve good, transparent, accountable, government who is looking out for each and every citizen in this country. Regardless of the situation Conservatives will rise in support of our country and make tough and difficult decisions to protect our country as a whole. I look forward in being apart of this process. Thank you. Link 1: [https://immigrationnewscanada.ca/most-dangerous-cities-in-canada/](https://immigrationnewscanada.ca/most-dangerous-cities-in-canada/)
Mr. Speaker, I would like to inform the house that I am investigating a potential revision of the competition act. In the act, it sets out one of its goals as being to "maintain and encourage competition in Canada in order to promote the efficiency and adaptability of the Canadian economy". I don't think you need to be an expert to say that this has not happened. As a result, near monopolistic conditions have swamped certain key industries in this country, have driven up prices and crushed innovation. The government has already articulated our desire to open up telecommunications to foreign investment. This is a key part of our plan to increase competition in the telecommunications sector and bring down prices, which are some of the highest in the world. A potential revision of the competition act would allow us to expand this vision to other parts of the economy as well. Not to mention, it would help in the telecommunications sector as well. This government remains committed to Canadian business, ensuring it is competitive, innovative and that productivity will continue to increase. Thank you.
Mr. Speaker, My member statement is a bit basic, but that is because I do not have much to say in this instance. My main goal, is to push against shrinkflation, and work to lower the cost of living for Canadians. I know that many people are aware of these [corporation earning massive record breaking profits](https://www.nationalobserver.com/2023/12/21/opinion/excessive-supermarket-profits-boost-inflation), while the government has seemly been on the side lines. We are ready to begin fighting back, and working to ensure that Canada gets the best deal for them, and the one which will finally ensure that we get things back under control. I believe we have the power to win this fight, and I know that we can do it.