Speech (House debate)

{
    "time": "2022-05-03 12:10:00",
    "attribution": {
        "en": "Mr. Frank Caputo (Kamloops\u2014Thompson\u2014Cariboo, CPC)",
        "fr": "M. Frank Caputo (Kamloops\u2014Thompson\u2014Cariboo, PCC)"
    },
    "content": {
        "en": "<p data-HoCid=\"7113308\" data-originallang=\"en\">Madam Speaker, I will note at the outset that I will be moving an amendment to the amendment at the end of my speech to Bill <a data-HoCid=\"11496808\" href=\"/bills/44-1/C-8/\" title=\"An Act to implement certain provisions of the economic and fiscal update tabled in Parliament on December 14, 2021 and other measures\">C-8</a>.</p>\n<p data-HoCid=\"7113309\" data-originallang=\"en\">As always, it is a pleasure to rise on behalf of the people of Kamloops\u2014Thompson\u2014Cariboo.</p>\n<p data-HoCid=\"7113310\" data-originallang=\"en\">Out of respect for the four young men who lost their lives recently in Kingston, I will be taking a brief moment of silence to recognize their service and sacrifice, and to honour their memories.</p>\n<p data-HoCid=\"7113311\" data-originallang=\"en\">On that note, I would like to thank all those who have served, both past and present. We have a number of people in the House who have served, and I thank all of them for their service. I thank all of our brave soldiers, who are currently enrolled in the forces, for enhancing our country's safety.</p>\n<p data-HoCid=\"7113312\" data-originallang=\"en\">Last night I debated about what I was going to speak about on the bill, and one thought that came across my mind was the idea of trust in the government and how much trust the average Canadian should or should not put in government. I also thought about trust when it comes to fiscal affairs and trust when it comes to spending. </p>\n<p data-HoCid=\"7113313\" data-originallang=\"en\">Trust, when it comes to this country's finances, is important. Do Canadians trust this government, and all of us here, to be good stewards of their money? When we think about finances, and I recognize that no government is perfect, the <a data-HoCid=\"214296\" href=\"/politicians/justin-trudeau/\" title=\"Justin Trudeau\">Prime Minister</a> previously said things such as \u201cthe budget would balance itself\u201d and that the budget would be balanced by 2019. I believe that was to be set in stone. During our most recent federal election he said that a reporter, or Canadians generally, ought to forgive him if he did not \u201cthink about monetary policy\u201d. These things worry me as a parliamentarian, a Canadian, a father, a husband and a member of Kamloops\u2014Thompson\u2014Cariboo.</p>\n<p data-HoCid=\"7113314\" data-originallang=\"en\">I have spoken about my background in the House, and I will do it again, because I think it is appropriate at this time. My dad came from Italy when he was in his early teens, my mom came as a young woman, and they met in Kamloops\u2014Thompson\u2014Cariboo. My dad was a sawmill worker. My mom was a homemaker who went back to work when I was about 10 years old. </p>\n<p data-HoCid=\"7113315\" data-originallang=\"en\">My parents paid off two houses on one income. As a young man, we did not go out for dinner because we could not afford it. Family trips to Vancouver were a big deal. Now, as a parliamentarian, I have to be candid, it was fairly novel to get on a plane. The luster has worn off, I will admit, but it is still an honour to be here at all times. However, what I learned is this: It is important to have one's own financial house in order, and that house includes this House and what we are spending in the House. It is important to be a good steward of the economy.</p>\n<p data-HoCid=\"7113316\" data-originallang=\"en\">I remember my dad driving a 1967 Ford into the 1990s. Why did he do that? It was because that was a prudent financial move. My dad bought a truck, I believe, in 1981, and he practically ran it into the ground. We, as government, cannot act like we are leasing a Rolls\u2011Royce when we can only afford a lesser vehicle. </p>\n<p data-HoCid=\"7113317\" data-originallang=\"en\">The problem I am arriving at is this: Interest rates are rising. This means that life will become more expensive. I am focusing on spending here, but there is a lot to say on Bill <a data-HoCid=\"11496808\" href=\"/bills/44-1/C-8/\" title=\"An Act to implement certain provisions of the economic and fiscal update tabled in Parliament on December 14, 2021 and other measures\">C-8</a>. We just saw interest rates rise about a half a point, which is going to make every mortgage more expensive. It is going to make every line of credit more expensive, and there will be an impact on housing. There will be an impact on spending generally. However, this fall economic statement increases government spending by about $71.2 billion. </p>\n<p data-HoCid=\"7113318\" data-originallang=\"en\">I am concerned about the lack of relief when it comes to the cost of living in this bill. It is a fairly lengthy bill and I know that colleagues across this House will point to aspects of the bill that are meritorious. One thing I am highlighting, though, is the gravity of the spending $71.2 billion. This is against a backdrop of inflation hitting 6.7% in March. The last time inflation was that bad was in the early nineties when the GST had just been introduced. I remember a can of soda going from 95\u00a2 to $1.02, and we just were not used to using our pennies. That is where inflation is right now.</p>\n<p data-HoCid=\"7113319\" data-originallang=\"en\">My colleagues across the aisle, in particular, have pointed out that inflation is a global problem. Globally, inflation is occurring but that does not mean that we ignore it locally because inflation is exacerbated by local policies. The printing of money necessarily contributes to inflation because more money is chasing around the same amount of property and services.</p>\n<p data-HoCid=\"7113320\" data-originallang=\"en\">This high-spending agenda also concerns me. When we have high deficits, who pays? One of the reasons that payday loans, for instance, have been heavily scrutinized is because they are compounded, and that can result in death by a thousand financial cuts. There are people who simply cannot afford another payment, another tax, or another bit of interest.</p>\n<p data-HoCid=\"7113321\" data-originallang=\"en\"> The same goes for credit cards. With all due respect, I see the government, if I can draw an analogy, as having a credit card when it comes to the Canadian economy and when it comes to spending on behalf of Canadians, and here is the problem. It is like that credit card is maxed out, so rather than pay it off, the government keeps on making the minimum payments. That sounds like a good plan, but eventually the minimum payment just will not cut it, so what do we do? We up our credit limit.</p>\n<p data-HoCid=\"7113322\" data-originallang=\"en\">That is what I feel is happening when it comes to this country's finances. What happens when this country's credit limit cannot increase any more? In 10 years, the <a data-HoCid=\"214296\" href=\"/politicians/justin-trudeau/\" title=\"Justin Trudeau\">Prime Minister</a> may be going off to another climate conference in Scotland, or he may be surfing in Tofino, but my question is this: When that credit card is maxed out, who is going to pay? The Prime Minister will likely not be in this House to recognize that, so who is going to pay? I am, and we are. The people of Canada are.</p>\n<p data-HoCid=\"7113323\" data-originallang=\"en\">Research from my office indicates that federal interest payments alone will reach $26.9 billion in 2022-23. This is estimated to be $49.2 billion by 2026-27. That is $16 billion. My rudimentary research is that our military operates on a budget of $22 billion per year, so three-quarters of our military spending will be taken up just in the differential of interest payments between 2022 and 2026-27. That should be concerning.</p>\n<p data-HoCid=\"7113324\" data-originallang=\"en\">We still have spent double our military expenditure in just interest in this last year, so how do we deal with this? Is it going to be a home equity tax? The government has said no, but it has to come from somewhere. Is it going to be tax on capital gains? Is the NDP-Liberal government going to go there? Will it be taxes on the middle taxes, more taxes for more spending?</p>\n<p data-HoCid=\"7113325\" data-originallang=\"en\">Those are my concerns about this. I have more to say, but I want to make sure that I move this amendment in time. </p>\n<p data-HoCid=\"7113326\" data-originallang=\"en\">Therefore, I move, seconded by the member for <a data-HoCid=\"278577\" href=\"/politicians/larry-brock/\" title=\"Larry Brock\">Brantford\u2014Brant</a>:</p>\n<blockquote><p data-HoCid=\"7113327\" data-originallang=\"en\"> That the amendment be amended by adding the following: </p>\n<p data-HoCid=\"7113328\" data-originallang=\"en\"> \u201cand that the committee report back no later than 10 sitting days following the adoption of this motion.\u201d </p>\n</blockquote>",
        "fr": "<p data-HoCid=\"7113308\" data-originallang=\"en\">Madame la Pr\u00e9sidente, je signale d\u2019embl\u00e9e que je proposerai un sous-amendement au projet de loi <a data-HoCid=\"11496808\" href=\"/bills/44-1/C-8/\" title=\"An Act to implement certain provisions of the economic and fiscal update tabled in Parliament on December 14, 2021 and other measures\">C\u20118</a> \u00e0 la fin de mon intervention.</p>\n<p data-HoCid=\"7113309\" data-originallang=\"en\">Comme toujours, c\u2019est un plaisir de prendre la parole au nom des habitants de Kamloops\u2014Thompson\u2014Cariboo.</p>\n<p data-HoCid=\"7113310\" data-originallang=\"en\">Par respect pour les quatre jeunes hommes qui ont r\u00e9cemment perdu la vie \u00e0 Kingston, je prendrai un bref moment de silence pour reconna\u00eetre leur service et leur sacrifice ainsi que pour honorer leur m\u00e9moire.</p>\n<p data-HoCid=\"7113311\" data-originallang=\"en\">Dans le m\u00eame ordre d\u2019id\u00e9e, j\u2019aimerais remercier toutes les personnes qui ont servi leur pays et qui le servent aujourd\u2019hui. Divers d\u00e9put\u00e9s comptent parmi elles, et je les remercie tous pour leur service. Je remercie tous les courageux soldats canadiens qui sont actuellement enr\u00f4l\u00e9s dans les forces d\u2019avoir renforc\u00e9 la s\u00e9curit\u00e9 du pays.</p>\n<p data-HoCid=\"7113312\" data-originallang=\"en\">Hier soir, je me suis demand\u00e9 ce que j\u2019allais dire \u00e0 propos de ce projet de loi et j\u2019ai pens\u00e9 entre autres choses \u00e0 la confiance envers le gouvernement et \u00e0 la confiance que le simple citoyen devrait ou ne devrait pas accorder au gouvernement. J\u2019ai \u00e9galement pens\u00e9 \u00e0 la confiance en ce qui concerne les questions budg\u00e9taires et \u00e0 la confiance par rapport aux d\u00e9penses.</p>\n<p data-HoCid=\"7113313\" data-originallang=\"en\">Lorsqu\u2019il s\u2019agit des finances du pays, la confiance est importante. Les Canadiens font-ils confiance au gouvernement actuel, et \u00e0 nous tous ici pr\u00e9sents, pour bien g\u00e9rer leur argent? Lorsque nous pensons aux finances, et je reconnais qu\u2019aucun gouvernement n\u2019est parfait, le <a data-HoCid=\"214296\" href=\"/politicians/justin-trudeau/\" title=\"Justin Trudeau\">premier ministre</a> a d\u00e9j\u00e0 dit des choses comme \u00ab le budget s\u2019\u00e9quilibrera de lui-m\u00eame \u00bb et \u00ab le budget sera \u00e9quilibr\u00e9 d\u2019ici 2019 \u00bb. Je crois que cela devrait \u00eatre grav\u00e9 dans le marbre. Lors des derni\u00e8res \u00e9lections f\u00e9d\u00e9rales, il a d\u00e9clar\u00e9 qu\u2019un journaliste ou les Canadiens en g\u00e9n\u00e9ral devraient lui pardonner s\u2019il ne \u00ab pense pas \u00e0 la politique mon\u00e9taire \u00bb. Ces choses me pr\u00e9occupent en tant que parlementaire, que Canadien, que p\u00e8re, que mari et que d\u00e9put\u00e9 de Kamloops\u2014Thompson\u2014Cariboo.</p>\n<p data-HoCid=\"7113314\" data-originallang=\"en\">J\u2019ai d\u00e9j\u00e0 parl\u00e9 de mes origines \u00e0 la Chambre, et je vais le faire de nouveau, parce que je pense que le moment est bien choisi. Mon p\u00e8re est venu d\u2019Italie lorsqu\u2019il \u00e9tait au d\u00e9but de son adolescence. Ma m\u00e8re \u00e9tait une jeune femme et ils se sont rencontr\u00e9s dans Kamloops\u2014Thompson\u2014Cariboo. Mon p\u00e8re travaillait dans une scierie. Ma m\u00e8re \u00e9tait une femme au foyer qui est retourn\u00e9e au travail quand j\u2019avais environ 10 ans.</p>\n<p data-HoCid=\"7113315\" data-originallang=\"en\">Mes parents ont pay\u00e9 deux maisons avec un seul revenu. Quand j\u2019\u00e9tais jeune homme, nous ne sortions pas au restaurant parce que nous n\u2019en avions pas les moyens. Les voyages familiaux \u00e0 Vancouver \u00e9taient de gros voyages. Lorsque je suis devenu parlementaire, je vous avouerai candidement que prendre l'avion \u00e9tait une exp\u00e9rience assez nouvelle pour moi. L\u2019effet de nouveaut\u00e9 s\u2019est dissip\u00e9, j\u2019en conviens, mais c\u2019est tout de m\u00eame toujours un honneur d\u2019\u00eatre ici. Cependant, ce que j\u2019ai appris, c\u2019est qu\u2019il est important de garder ses propres finances en ordre, et cet ordre doit aussi s\u2019appliquer \u00e0 la Chambre et \u00e0 ce que nous y d\u00e9pensons. Il est primordial de bien g\u00e9rer l\u2019\u00e9conomie.</p>\n<p data-HoCid=\"7113316\" data-originallang=\"en\">Je me souviens que mon p\u00e8re a conduit une Ford de 1967 jusque dans les ann\u00e9es 1990. Pourquoi a-t-il fait cela? C\u2019est parce que c\u2019\u00e9tait une mesure financi\u00e8re prudente. Mon p\u00e8re a achet\u00e9 un camion, je crois, en 1981, et il l\u2019a us\u00e9 \u00e0 la corde. En tant que gouvernement, nous ne pouvons pas agir comme si nous louions un Rolls-Royce alors que nous n\u2019en avons pas les moyens.</p>\n<p data-HoCid=\"7113317\" data-originallang=\"en\">Le probl\u00e8me auquel je veux en venir, c\u2019est que les taux d\u2019int\u00e9r\u00eat augmentent. Cela signifie que la vie deviendra plus ch\u00e8re. Je me concentre sur les d\u00e9penses, mais il y a beaucoup \u00e0 dire sur le projet de loi <a data-HoCid=\"11496808\" href=\"/bills/44-1/C-8/\" title=\"An Act to implement certain provisions of the economic and fiscal update tabled in Parliament on December 14, 2021 and other measures\">C\u20118</a>. Nous venons de voir les taux d\u2019int\u00e9r\u00eat augmenter d\u2019environ un demi-point, ce qui rendra chaque pr\u00eat hypoth\u00e9caire plus co\u00fbteux. Cela fera augmenter le co\u00fbt de chaque marge de cr\u00e9dit, et cela aura des r\u00e9percussions sur le logement. Il y aura un impact sur les d\u00e9penses en g\u00e9n\u00e9ral. Malgr\u00e9 tout, le gouvernement a indiqu\u00e9 dans l\u2019\u00e9nonc\u00e9 \u00e9conomique de l\u2019automne qu\u2019il allait augmenter les d\u00e9penses d\u2019environ 71,2 milliards de dollars.</p>\n<p data-HoCid=\"7113318\" data-originallang=\"en\">Je suis pr\u00e9occup\u00e9 par le fait que le projet de loi ne pr\u00e9voit pas de mesures d\u2019aide en ce qui concerne le co\u00fbt de la vie. Il s\u2019agit d\u2019un projet de loi assez volumineux, et je sais que mes coll\u00e8gues d'en face souligneront des aspects du projet de loi qui sont m\u00e9ritoires. Je souligne toutefois la gravit\u00e9 des d\u00e9penses de 71,2 milliards de dollars, dans un contexte o\u00f9 l\u2019inflation a atteint 6,7 % en mars. La derni\u00e8re fois que l\u2019inflation a \u00e9t\u00e9 aussi \u00e9lev\u00e9e, c\u2019\u00e9tait au d\u00e9but des ann\u00e9es 1990, apr\u00e8s l'instauration de la TPS. Je me souviens qu\u2019une canette de boisson gazeuse passait de 95 cents \u00e0 1,02 $, et nous n\u2019avions tout simplement pas l\u2019habitude d\u2019utiliser nos sous noirs. Voil\u00e0 o\u00f9 en est l\u2019inflation \u00e0 l\u2019heure actuelle.</p>\n<p data-HoCid=\"7113319\" data-originallang=\"en\">Mes coll\u00e8gues d\u2019en face, en particulier, ont soulign\u00e9 que l\u2019inflation est un probl\u00e8me mondial. Il est vrai que l\u2019inflation peut \u00eatre observ\u00e9e \u00e0 l\u2019\u00e9chelle mondiale, mais cela ne veut pas dire qu'il faut en faire fi ici au pays, parce que l\u2019inflation est exacerb\u00e9e par les politiques nationales. Le fait d\u2019imprimer de l\u2019argent \u00e0 plein r\u00e9gime contribue n\u00e9cessairement \u00e0 l\u2019inflation parce qu\u2019un plus grand montant d\u2019argent tourne tout de m\u00eame autour d\u2019une quantit\u00e9 inchang\u00e9e de biens et de services.</p>\n<p data-HoCid=\"7113320\" data-originallang=\"en\">Ces d\u00e9penses effr\u00e9n\u00e9es m\u2019inqui\u00e8tent au plus haut point. Quand les d\u00e9ficits sont \u00e9lev\u00e9s, qui doit ramasser la facture? L\u2019une des raisons pour lesquelles les pr\u00eats sur salaire, par exemple, ont \u00e9t\u00e9 scrut\u00e9s \u00e0 la loupe, c\u2019est qu\u2019ils sont assortis d\u2019int\u00e9r\u00eats compos\u00e9s, ce qui peut entra\u00eener la mort financi\u00e8re \u00e0 petit feu. Il y a des gens qui ne peuvent tout simplement pas se permettre un autre paiement, une autre taxe ou un autre versement d\u2019int\u00e9r\u00eats.</p>\n<p data-HoCid=\"7113321\" data-originallang=\"en\">Il en va de m\u00eame pour les cartes de cr\u00e9dit. Bien respectueusement, et si je peux me permettre cette analogie sur l'\u00e9conomie canadienne, c'est comme si le gouvernement avait une carte de cr\u00e9dit et qu'il n'h\u00e9sitait pas \u00e0 l'utiliser lorsqu'il s'agit de d\u00e9penser au nom des Canadiens, et c'est l\u00e0 le probl\u00e8me. C'est comme s'il avait atteint la limite de son cr\u00e9dit et qu'au lieu de rembourser en totalit\u00e9 ce qu'il doit, le gouvernement continuait \u00e0 verser les paiements minimums. Cela semble \u00eatre un bon plan, mais t\u00f4t ou tard, le paiement minimum ne suffira plus. Que ferons-nous alors? Nous augmenterons notre limite de cr\u00e9dit. </p>\n<p data-HoCid=\"7113322\" data-originallang=\"en\">C'est ce qui se passe, selon moi, avec les finances du pays. Que se passera\u2011t\u2011il lorsqu'il ne sera plus possible d'augmenter notre limite de cr\u00e9dit? Dans 10 ans, le <a data-HoCid=\"214296\" href=\"/politicians/justin-trudeau/\" title=\"Justin Trudeau\">premier ministre</a> sera peut-\u00eatre en train de participer \u00e0 une autre conf\u00e9rence sur le climat en \u00c9cosse ou il sera peut-\u00eatre en train de surfer \u00e0 Tofino, mais ma question est la suivante: lorsque la limite de cr\u00e9dit sera atteinte, qui paiera? Le premier ministre ne sera probablement pas \u00e0 la Chambre pour assister \u00e0 cela, alors qui va payer? Ce sera moi, ce sera nous. C'est la population du Canada qui va payer. </p>\n<p data-HoCid=\"7113323\" data-originallang=\"en\">D'apr\u00e8s les recherches effectu\u00e9es par mon bureau, les paiements des int\u00e9r\u00eats sur la dette f\u00e9d\u00e9rale atteindront, \u00e0 eux seuls, 26,9 milliards de dollars en 2022\u20112023. Selon les estimations, ils se chiffreront \u00e0 49,2 milliards de dollars en 2026-2027. Cela repr\u00e9sente 16 milliards de dollars. Selon la recherche rudimentaire que j'ai effectu\u00e9e, nos forces arm\u00e9es disposent d'un budget de 22 milliards de dollars par ann\u00e9e. Les trois quarts de nos d\u00e9penses militaires seront donc absorb\u00e9s par l'\u00e9cart des paiements d'int\u00e9r\u00eats entre 2022 et 2026\u20112027. Il y a de quoi s'inqui\u00e9ter. </p>\n<p data-HoCid=\"7113324\" data-originallang=\"en\">Dans la derni\u00e8re ann\u00e9e, nous avons encore consacr\u00e9 deux fois plus d'argent aux int\u00e9r\u00eats qu'\u00e0 nos d\u00e9penses militaires. Comment pouvons-nous donc rem\u00e9dier \u00e0 cette situation? Y aura\u2011t\u2011il une taxe sur la valeur nette des propri\u00e9t\u00e9s? Le gouvernement a dit non, mais il faut bien que cet argent vienne de quelque part. Y aura\u2011t\u2011il un imp\u00f4t sur les gains en capital? Le gouvernement n\u00e9o-d\u00e9mocrate\u2014lib\u00e9ral se rendra-t-il l\u00e0? Y aura\u2011t\u2011il des taxes sur les taxes interm\u00e9diaires, c'est\u2011\u00e0\u2011dire plus de taxes pour plus de d\u00e9penses? </p>\n<p data-HoCid=\"7113325\" data-originallang=\"en\">Voil\u00e0 ce qui me pr\u00e9occupe. J'en aurais encore beaucoup \u00e0 dire, mais je tiens \u00e0 pr\u00e9senter cet amendement avant de manquer de temps. </p>\n<p data-HoCid=\"7113326\" data-originallang=\"en\">Je propose donc, avec l'appui du d\u00e9put\u00e9 de <a data-HoCid=\"278577\" href=\"/politicians/larry-brock/\" title=\"Larry Brock\">Brantford\u2014Brant</a>:</p>\n<blockquote><p data-HoCid=\"7113327\" data-originallang=\"en\"> Que l'amendement soit modifi\u00e9 par adjonction de ce qui suit: </p>\n<p data-HoCid=\"7113328\" data-originallang=\"en\"> \u00ab et que le Comit\u00e9 pr\u00e9sente son rapport au plus tard 10 jours de s\u00e9ance apr\u00e8s l\u2019adoption de la pr\u00e9sente motion. \u00bb </p>\n</blockquote>"
    },
    "url": "/debates/2022/5/3/frank-caputo-1/",
    "politician_url": "/politicians/frank-caputo/",
    "politician_membership_url": "/politicians/memberships/4608/",
    "procedural": false,
    "source_id": "11653594",
    "h1": {
        "en": "Government Orders",
        "fr": "Ordres \u00e9manant du gouvernement"
    },
    "h2": {
        "en": "Economic and Fiscal Update Implementation Act, 2021",
        "fr": "Loi d'ex\u00e9cution de la mise \u00e0 jour \u00e9conomique et budg\u00e9taire de 2021"
    },
    "document_url": "/debates/2022/5/3/",
    "related": {
        "document_speeches_url": "/speeches/?document=%2Fdebates%2F2022%2F5%2F3%2F"
    }
}