WHEN WE LEARNED THAT THE COSTLY COALITION WOULD BE INTRODUCING THIS ECONOMIC UPDATE TODAY, WE HAD TWO DEMANDS: NO NEW TAXES ON WORKERS AND SENIORS AND NO NEW SPENDING UNLESS MATCHED BY EQUAL SAVINGS. TODAY, THIS INFLATIONARY SCHEME TRIPLES, TRIPLES, TRIPLES THE TAX ON HOME HEAT, GAS, AND GROCERIES, AND ADDS $20 BILLION OF INFLATIONARY SPENDING THAT WILL DRIVE UP THE COST OF LIVING. AND SO CONSERVATIVES WILL STAND FOR THE COMMON PEOPLE, THEIR PAYCHEQUES, THEIR HOMES, THEIR SAVINGS, AND WE WILL VOTE AGAINST THIS INFLAT AGAINST THIS INFLATIONARY SCHEME. [END OF INTERPRETATION] HOW DO WE GET HERE? WELL, THE COST OF GOVERNMENT IS DRIVING UP THE COST OF LIVING. HALF A TRILLION DOLLARS OF INFLATIONARY DEFICITS HAVE BID UP THE COST OF THE GOODS WE BUY AND THE INTEREST THAT WE PAY. INFLATIONARY TAXES HAVE INCREASED THE COST OF BUSINESSES, FARMERS, AND WORKERS TO PRODUCE THOSE VERY SAME GOODS. NOW, LIBERALS WILL PRETEND THAT THEY HAD NO CHOICE BUT TO DOUBLE THE DEBT. THIS PRIME MINISTER WILL CLAIM THAT IT'S NOT HIS FAULT THAT HE ADDED MORE DEBT THAN ALL PREVIOUS PRIME MINISTERS COMBINED. LET'S START WITH THE FACT THAT HE ADDED $$100 BILLION OF DEBT BEFORE THE VERY FIRST COVID CASE WAS EVER DISCOVERED HERE IN CANADA. HE CAN'T BLAME COVID FOR THAT. HE BLEW THROUGH HIS PROMISE THAT THE DEFICIT WOULD NEVER EXCEED $10 BILLION. WELL, IT WAS ALREADY $100 BILLION IN TOTAL BEFORE THE FIRST CASE OF COVID. THEN WHEN COVID CAME, 40% OF ALL THE NEW SPENDING MEASURES HAD NOTHING TO DO WITH COVID, ACCORDING TO THE PRIME MINISTER'S OWN NAMED PARLIAMENTARY BUDGET OFFICER. $200 BILLION OF SPENDING UNRELATED TO COVID. AND EVEN AMONGST THE COVID SPENDING WAS AN ALL YOU CAN EAT BUFFET OF WASTE AND MISMANAGEMENT. THEY SENT CERB CHEQUES TO PRISONERS. THEY SENT THEM TO PUBLIC SERVANTS WHO WERE SIMULTANEOUSLY DRAWING PUBLIC SALARIES. THEY GAVE WAGE SUBSIDIES TO WEALTHY CORPORATIONS THAT WERE RICH ENOUGH TO PAY OUT DIVIDENDS AND BONUSES TO THEIR EXECUTIVE EVEN AFTER I WARNED THAT THEY SHOULD BAN THAT HIDEOUS PRACTICE. THEY TRIED TO GIVE A HALF BILLION DOLLARS TO THE "We" CHARITY, AN ORGANIZATION THAT HAD GIVEN A HALF MILLION DOLLARS TO THE PRIME MINISTER'S OWN FAMILY. THEY SPENT $54 MILLION ON AN APP WE DIDN'T NEED, THAT DIDN'T WORK, AND THAT COULD HAVE BEEN DESIGNED IN A WEEKEND FOR 250 GRAND. THE PREVIOUS CONSERVATIVE GOVERNMENT HAD SUCCESSFULLY DELIVERED APPS THAT WERE ACTUALLY NECESSARY AND USEFUL, OF A SIMILAR COMPLEXITY, FOR 2 OR $300,000, BUT SOMEHOW THIS ONE WENT TO 54 MILLION. MANY OF THE RECIPIENTS ADMIT THEY DIDN'T DO ANY WORK. THEY JUST HIRED OTHER PEOPLE TO DO WORK. SO THEY GAVE THE MONEY TO PEOPLE WHO DIDN'T DO ANYTHING OTHER THAN DELEGATE THE WORK TO SOMEONE ELSE. DON'T WE HAVE PUBLIC SERVANTS GETTING PAID WITHIN THE GOVERNMENT TO DELIVER THOSE SORTS OF CONTRACTING? NOW THE GOVERNMENT WON'T EVEN TELL US ALL THE I'D IDENTITY OF THE RECIPIENTS OF THAT MONEY. SO DON'T TELL ME THEY HAD TO DOUBLE THE SIZE OF THE NATIONAL DEBT. DON'T TELL ME THAT EVERY DOLLAR OF INFLATIONARY SPENDING WAS NECESSARY. THEY WERE IRRESPONSIBLE, AND THEY WERE UNNECESSARILY PROFLIGATE WITH THE DOLLARS OF CANADIANS, AND NOW PEOPLE ARE PAYING THE PRICE. NOW THE PRIME MINISTER WILL SAY WELL, RUSSIA CAUSED THE INFLATION IN CANADA. WELL, OF COURSE WE DO LESS THAN 0.3% OF OUR TRADE WITH RUSSIA AND UKRAINE COMBINED, BEYOND WHICH THE STUFF THEY MAKE IS THE STUFF THAT WE HAVE HERE ALREADY. THEY HAVE ENERGY AND FOOD. WE HAVE ENERGY AND FOOD. IF ONLY THE PRIME MINISTER WOULD GET OUT OF THE WAY OF OUR FARMERS AND ENERGY WORKERS AND LET THEM PRODUCE. BEYOND WHICH, UNDER THE PREVIOUS CONSERVATIVE GOVERNMENT, THERE WERE WARS. THERE WAS ONE MASSIVE WAR IN AFGHANISTAN, ANOTHER ONE IN IRAQ AND SYRIA, AND WE NEVER HAD INFLATION ANYWHERE OVER 4%. IN FACT, WE WERE ABLE TO SUCCESSFULLY CONTRIBUTE TO DEFEATING TERRORISTS AND TYRANTS IN THOSE CONFLICTS WHILE KEEPING THE INFLATION LEVEL LOW HERE IN CANADA. WE WERE ABLE TO GET OUR SPENDING UNDER CONTROL AND OUR BUDGET BACK INTO BALANCE. THIS GOVERNMENT, BY CONTRAST, HAS SPENDING TODAY 30% HIGHER THAN IN THE PRE-COVID YEAR 2019. WHY? THEY SAID ALL THE DEFICITS WERE THE RESULT OF COVID. COVID NOW IS BEHIND US AND SPENDING IS STILL 30% HIGHER BECAUSE WE KNOW THAT IT'S NOT COVID THAT HAS CAUSED THE COST TO RISE; IT IS THE COSTLY COALITION AND AN IRRESPONSIBLE PRIME MINISTER WHO HAVE PUT THESE BURDENS ON CANADIANS' SHOULDERS. [Voice of Interpreter]: WE ALL KNOW THAT GOVERNMENT SPENDING TODAY IS 30% HIGHER THAN IT WAS THE YEAR BEFORE COVID. WHY? WELL, BECAUSE COVID IS NOT TO BLAME FOR ALL THIS RISING SPENDING, EXORBITANT SPENDING. WHAT IS TO BLAME IS THE PRIME MINISTER WHO HAS NO CONTROL OVER CANADIANS' MONEY. THE MORE THE PRIME MINISTER SPENDS, THE MORE CANADIANS PAY, AND THAT'S WHY WE HAVE JUST INFLATION, THE HIGHEST INFLATION IN 40 YEARS [END OF INTERPRETATION] -- ALSO LOVES TO BLAME ALL THE COST OF LIVING RISES ON OTHER PEOPLE. WHY IS IT, THEN, THAT HOUSE PRICES IN THIS COUNTRY ARE THE SECOND MOST INFLATED ANYWHERE ON PLANET EARTH? [Interjections] >> THANK YOU. WHY IS IT THAT LAND COSTS HAVE GONE THROUGH THE ROOF? LAND IS NOT IMPORTED FROM UKRAINE OR RUSSIA. LAND IS RIGHT BENEATH OUR FEET. AND WE HAVE THE SECOND BIGGEST SUPPLY OF IT ANYWHERE ON EARTH. AND YET VANCOUVER IS THE THIRD MOST OVERPRICED HOUSING MARKET ON PLANET EARTH, AND TORONTO THE TENTH. CAN YOU IMAGINE THAT? TWO OF OUR BIGGEST CITIES HAVE MORE INFLATED HOUSING PRICES THAN NEW YORK CITY, THAN LONDON, ENGLAND; THEN COUNTLESS OTHER BIG METROPOLISES THAT HAVE MORE PEOPLE, MORE MONEY, AND LESS LAND. IN FACT, VANCOUVER'S HOUSE PRICES ARE MORE INFLATED THAN SINGAPORE. SINGAPORE IS AN ISLAND. THEY'RE OUT OF LAND. CANADA HAS MORE LAND WHERE THERE'S NO ONE THAN WE HAVE LAND WHERE THERE'S ANYONE. SO WHY IS IT THAT WE CANNOT FIND A PLACE TO HOUSE EVERYONE? WELL, THE FIRST REASON IS THAT LOCAL GOVERNMENT GATE KEEPERS PREVENT HOUSING CONSTRUCTION BY PILING ON MASSIVE DELAYS THAT DRIVE UP THE COST AND DRIVE DOWN THE SUPPLY OF HOUSING. THIS PRIME MINISTER HAS HAD SEVEN YEARS TO STAND UP TO THE IT MUNICIPAL AND PROVINCIAL GATEKEEPERS THAT STAND IN THE WAY OF HOUSING CONSTRUCTION, BUT HE WOULD NEVER DO THAT BECAUSE HE DOES NOT WANT TO CONFRONT THE NDP-LIBERAL RADICAL LEFT AT CITY HALLS ACROSS THE COUNTRY THAT HAVE MADE THIS PROBLEM WORSE. AND SO WHAT HE'S DONE INSTEAD IS CONTINUED TO SHOVEL MONEY INTO THEIR LOCAL BUREAUCRACIES TO REWARD THEM FOR BLOCKING THE POOR, FOR BLOCKING THE IMMIGRANTS, FROM BLOCKING OUR WORKING CLASS KIDS FROM EVER OWNING A HOME. WHEN I'M PRIME MINISTER, WE WILL IMPOSE CONDITIONS THAT IF CITIES WANT MORE MUNICIPAL -- WANT MORE FEDERAL INFRASTRUCTURE MONEY, THEY'LL HAVE TO REMOVE THE GATEKEEPERS. WE WILL CONNECT THEIR INFRASTRUCTURE DOLLARS TO THE NUMBER OF HOUSES THAT ACTUALLY GET BUILT SO THAT YOUNG PEOPLE CAN FIND A PLACE TO LIVE, AND WE WILL SELL OFF 15% OF THE 37,000 FEDERAL BUILDINGS SO THAT THEY CAN BE CONVERTED INTO HOUSING THAT OUR YOUNG PEOPLE CAN HAVE AFFORDABILITY HOMES. THE SECOND REASON THAT WE HAVE SUCH EXPENSIVE HOUSING AND SUCH EXPENSIVE EVERYTHING IS BECAUSE THE PRIME MINISTER ENGAGED IN A MASSIVE ORGY OF MONEY [INDISCERNIBLE] OVER THE LAST TWO YEARS. HE SAID THAT MONEY PRINTING WOULDN'T CAUSE INFLATION EVEN THOUGH THAT'S EXACTLY WHAT IT HAS DONE EVERY SINGLE TIME IT HAS BEEN TRIED OVER THE LAST ROUGHLY 3,000 YEARS, RIGHT. SO HERE'S HOW IT WORKED. THE PRIME MINISTER WANTED TO BE ABLE TO CLAIM THAT HE WAS BORROWING ALL THIS MONEY ON THE CHEAP. HE LOVED TO STAND IN THE HOUSE AND SAY HIS DEBT WASN'T COSTING ANY MONEY BECAUSE INTEREST RATES WERE SO LOW. WELL, THE ONLY REASON HE COULD BORROW FOR NEXT TO NOTHING IS BECAUSE HIS CENTRAL BANK WAS CREATING THE CASH OUT OF THIN AIR. IF IT HAD BEEN REAL LENDERS, THEY WOULD HAVE DEMANDED A REAL RATE OF RETURN ON THEIR LOANS. SO WHAT HAPPENED IS THEY CREATED SOMETHING CALLED QUANTITATIVE EASING. WHENEVER A -- WHENEVER THEY INVENT NEW INCOMPREHENSIBLE TERMINOLOGY, Mr. SPEAKER, YOU CAN BE SURE THAT THERE'S SOMETHING SINISTER BEHIND IT. AND HERE'S HOW IT WORKS. VERY SIMPLE. THE GOVERNMENT SELLS BONDS TO LENDERS. BANK OF CANADA BUYS BACK THOSE BONDS AT A HIGHER PRICE. THE LENDERS LOVE T THAT'S WHY THE BANKS THOROUGHLY ENDORSE THIS STRATEGY BECAUSE THEY MADE THE MONEY ON THE DIFFERENCE. SIMPLE ARBITRAGE. THE GOVERNMENT SELLS THEM SOMETHING ON A MONDAY AND BUYS IT BACK FROM THEM AT A HIGHER PRICE ON A WEDNESDAY. WHO WOULDN'T GO FOR THAT DEAL? UNFORTUNATELY ONLY BEEN A HUNDRED FINANCIAL INSTITUTIONS ARE ELIGIBLE TO PARTICIPATE IN IT. THE REST OF THE ORDINARY, HARD-WORKING CANADIANS WHO PAY FOR IT ARE NOT. BUT THE BANKS AND THE OTHER -- THE INSURANCE COMPANIES AND OTHER FINANCIAL INSTITUTIONS PROFITED OFF OF THIS TRANSACTION. THE BANK OF CANADA PAYS FOR THOSE BONDS BY DEPOSITING MONEY IN THE ACCOUNTS OF THOSE LARGE FINANCIAL INSTITUTIONS HELD ON RESERVE AT THE BANK OF CANADA. AND SO THOSE RESERVES SKYROCKETED OVER THE LAST TWO YEARS AS THE BANK BOUGHT UP TOP $400 BILLION OF NEW DEBT. AND WHAT HAPPENED? THAT EXPLODED THE MONEY SUPPLY AND MORE DOLLARS CHASING FEWER GOODS REACHED HIGHER PRICES. MUCH OF THE MONEY THEN FUND INTO THE FINANCIAL SYSTEM AND WAS LENT OUT IN MORTGAGES TO WEALTHY INVESTORS WHO SAW A MASSIVE SUSPENSION IN THE NUMBER OF REAL ESTATE HOLDINGS THEY COULD ACCUMULATE. THUS HOUSING PRICES WENT PUP 50% IN TWO-YEAR CREATING THE BIGGEST HOUSING BUBBLE IN CANADIAN HISTORY. AND NOW THAT THE CENTRAL BANK IS FORCED TO RAISE INTEREST RATES, IT RISKS BURSTING THAT BUBBLE. AND ALL THE PEOPLE THAT GOT ON THE BALLOON WHEN IT WAS ON THE GROUND FLOOR AND WENT UP INTO THE SKY NOW RISK COMING CRASHING DOWN AS THAT BALLOON IS BURSTING. AND WORSE THAN THAT, THE BANK OF CANADA NOW HAS HUNDREDS OF BILLIONS OF DOLLARS OF DEPOSITS THAT IT MADE INTO THE ACCOUNTS THAT IT HAS ON ITS RESERVES OF THOSE LARGE FINANCIAL INSTITUTIONS. WHAT'S HAPPENED TO THOSE DEPOSITS? THEY NOW BEAR MORE INTEREST BECAUSE INTEREST RATES HAVE GONE UP. SO THE WEALTHY BANKERS THAT PARTICIPATED IN THIS ARBITRAGE TRANSACTION AT THE BEGINNING AND WERE PAID FOR IT BY HAVING MORE MONEY DEPOSITED INTO THEIR ACCOUNTS AT THE BANK OF CANADA NOW COLLECT 3.75% BECAUSE THAT IS THE POLICY RATE THAT THE BANK PAYS. WHAT DOES THAT MEAN? THAT THE CENTRAL BANK IS NOW LOSING MONEY FOR THE FIRST TIME IN ITS HISTORY, AND CANADIAN TAXPAYERS ARE FORCED TO BAIL THEM OUT TO A TUNE OF $4 BILLION EVERY YEAR. THIS WRETCHED SCHEME OF WHICH I WARNED TWO YEARS AGO -- WELL, MAYBE IN THE END BE THE -- AMOUNT TO THE SINGLE BIGGEST WEALTH TRANSFER FROM WORKING CLASS PEOPLE TO ULTRAWEALTHY INSIDERS, FROM THE HAVE NOTES TO THE HAVE YACHTS AT ANY TIME IN OUR -- FROM THE HAVE-NOTS TO THE HAVE YACHTS AT ANY TIME IN OUR HISTORY. NOW WE SEE THE PAINFUL CONSEQUENCES. IT'S NOT JUST ABOUT NUMBERS ON A LEDGER. IT'S ABOUT 1.5 MILLION PEOPLE FORCED TO GO TO A FOOD BANK IN A SINGLE MONTH. IT'S ABOUT ONE IN FIVE PEOPLE SKIPPING MEALS OR CUTTING PORTIONS BECAUSE THEY CAN'T AFFORD THEIR FOOD. IT'S ABOUT THE FORTHCOMING WINTER OF WHICH THE MINISTER SPOKE IN METAPHORICAL TERMS WHO ARE NOW NOT GOING TO BE ABLE TO HEAT THEIR HOMES AS THE COST OF HOME HEATING IS EXPECTED TO DOUBLE OR EVEN MORE FOR THOSE PEOPLE WHO ARE ON HOME HEATING OIL. IT IS ABOUT THE 35-YEAR-OLD LIVING IN HIS PARENTS' BASEMENT, DESPITE THE FACT THAT HE DID EVERYTHING WE ASKED HIM TO DO: HE GOT A JOB, HE GOT AN EDUCATION, HE WORKED HARD AT IT EVERY DAY, AND NOW HE CAN'T AFFORD A HOME WHICH MEANS HE CAN'T BUILD UP COLLATERAL, CANNOT BUILD CREDIT HISTORY, CANNOT BUILD SAVINGS FOR HIS FUTURE, AND THEREFORE CANNOT START A FAMILY. IN CANADA. A COUNTRY WITH THE MOST ABUNDANCE -- AMONG THE MOST ABUNDANT SUPPLY OF LAND ON EARTH, WE CAN'T FIND PLACES FOR PEOPLE TO LIVE. THESE ARE THE REAL WORLD CONSEQUENCES OF IRRESPONSIBLE DECISIONS, AND MEANWHILE THE PRIME MINISTER SITS AND SMIRKS AT THE FACT THAT HE TOOK A 6,000-DOLLAR A NIGHT VACATION TO SLEEP IN THE FANCIEST HOTEL ON PLANET EARTH, STAYING UP IN OPULENT HOTEL LOBBIES JAZZING IT UP WITH HIS FRIENDS WHILE PEOPLE BACK HOME CANNOT PAY THE RENT. CANADIANS ARE OUT OF MONEY, AND THIS PRIME MINISTER IS OUT OF TOUCH. Mr. SPEAKER, THE QUESTION IS WE'RE GOING TO INHERIT THIS MESS, ALL OF US. WE'RE GOING TO HAVE TO FIX THE PROBLEM. WE HAVE A BIG JOB AHEAD OF US, DON'T WE. WE HAVE A VERY BIG JOB AHEAD OF US. HE'LL LEAVE A BIG MESS JUST LIKE HIS DAD LEFT. HE'LL BE OFF ON A BEACH SOMEWHERE SURFING AND THE REST OF US WILL BE HERE CLEANING UP THE MESS HE LEFT BEHIND. THE SOONER THAT HAPPENS, THE BETTER IT IS. ONLY THEN HE'LL HAVE TO PAY FOR HIS OWN HOTELS BECAUSE WE WON'T BE PAYING FOR THEM N HE'LL HAVE TO PAY HIS OWN WAY LIKE CANADIANS ARE TODAY. SO HOW ARE WE GOING TO CLEAN UP THIS MESS? FOR ONE, WE'RE GOING TO BRING IN A PAY AS YOU GO LAW SO THAT EVERY TIME WE BRING IN A NEW DOLLAR OF SPENDING WE'LL FIND SAVINGS TO PAY FOR IT T YOU KNOW WHO DOES THAT? EVERYBODY IN THE REAL WORLD. EVERYBODY IN THE REAL WORLD DOES THAT. [Voice of Interpreter]: THAT'S HOW SINGLE MOTHERS PAY THE BILLS WHEN THEY WANT TO TAKE THEIR CHILDREN ON VACATION, THEY FIND SAVINGS, THEY MAKE SAVINGS, IN ORDER TO PAY FOR IT. THAT'S WHAT SMALL BUSINESSES DO WHEN THEY WANT TO SPEND MORE MONEY ON ADVERTISING, THEY FIND WAYS TO SAVE ELSEWHERE IN THE BUSINESS. THAT'S NORMAL. THAT'S WHAT PEOPLE DO. THAT IS WHAT PEOPLE DO IN THE REAL WORLD [END OF INTERPRETATION] IS THE CONDITION THAT FACES EVERY CREATURE IN THE UNIVERSE. IF THERE'S ONLY SO MUCH TO GO AROUND, EVERY CREATURE IN THE UNIVERSE EXCEPT FOR THE PRIME MINISTER, JUST TAKES EVERYONE ELSE'S MONEY TO PAY FOR HIS OWN WANTS AND DESIRES. BUT IN THE REAL WORLD, IF A FAMILY WANTS A NEW DECK, THEY MIGHT PASS UP ON THEIR VACATION, OR THEY FIND A DEAL ON BOTH THE VACATION AND MAYBE THEY PICK UP SOME USED LUMBER AT A LOCAL CONSTRUCTION YARD IN ORDER TO SAVE SOME MONEY SO THAT THEY CAN DO IT ALL WITHIN THE SAME BUDGET. IMAGINE IF INSTEAD OF JUST PILING ON NEW SPENDING ALL THE TIME THE GOVERNMENT ACTUALLY HAD TO FIND SAVINGS TO PAY FOR IT. THAT WOULD FORCE THE SAME REAL WORLD TRADE-OFFS -- >> The Speaker: I'M GOING TO INTERRUPT THE LEADER OF THE OPPOSITION. I THOUGHT EVERYTHING WAS GOING VERY SMOOTHLY AND VERY NICELY. WE WERE RESPECTING EACH OTHER. LET'S KEEP UP -- LET'S KEEP THAT UP. AND WE'LL LET THE HONOURABLE LEADER OF THE OPPOSITION CONTINUE. >> THANK YOU VERY MUCH. I'M NOT ALLOWED TO MENTION THE PRESENCE OR ABSENCE OF THE PRIME MINISTER, BUT I WILL JUST SAY THAT SOME PEOPLE BRING HAPPINESS WHEREVER THEY GO AND OTHERS BRING HAPPINESS WHENEVER THEY GO. SO WE'RE GOING TO ATTACK GOVERNMENT SPENDING. WE'RE GOING TO GET THE BANK OF CANADA BACK TO ITS CORE MANDATE. FOR 25 YEARS, THE BANK OF CANADA HAD A VERY SIMPLE MANDATE: 2% INFLATION BROUGHT IN BY THE MULRONEY GOVERNMENT, STICK TO 2%. INTEREST RATES, MONEY SUPPLY, WE'RE ALL GOVERNED TO THAT PURPOSE, AND IT WORKED. IT WORKED UNTIL THIS PRIME MINISTER CAME ALONG AND PUSHED THE BANK TO PRINT CASH TO PAY FOR HIS SPENDING. WE'RE GOING TO HAVE NO MORE OF THAT. WE WILL FUND OUR PROGRAMS WITH REAL MONEY RATHER THAN PRINTED CASH BECAUSE WE KNOW THAT THERE ARE NO FREEBIES IN THIS WORLD, AND WE KNOW THAT ULTIMATELY THE TAXPAYER AND THE CONSUMER PAY FOR EVERYTHING. WE WILL REINSTATE THAT MANDATE AND WE WILL AUDIT THE CENTRAL BANK THROUGH THE AUDITOR GENERAL TO MAKE SURE THAT NEVER AGAIN IS THERE SUCH A HORRENDOUS ABUSE OF OUR MONEY AS WE HAVE SEEN OVER THE LAST COUPLE OF YEARS. [Applause] INSTEAD OF CREATING MORE CASH, WE'RE GOING TO CREATE MORE WHAT CASH BUYS. WE'RE GOING TO GROW MORE FOOD, BUILD MORE HOUSES, AND PRODUCE MORE RESOURCES RIGHT HERE IN CANADA. HERE'S HOW WE'LL DO IT. HERE'S HOW WE'LL DO IT. WE'LL INCENTIVIZE OUR MUNICIPALITIES TO REMOVE THEIR GATEKEEPERS THAT WE CAN BUILD MORE HOUSES ON THE GROUND. WE WILL REMOVE THE GATEKEEPERS OFF THE BACK OF OUR FARMERS BY CANCELLING THE TARIFFS AND TAXES ON THEIR FERTILIZERS AND ON THEIR FUEL SO THEY CAN PRODUCE MORE IN THIS COUNTRY. AND WE WILL REMOVE THE GOVERNMENT GATEKEEPERS THAT STAND IN THE WAY OF OUR RESOURCE SECTOR. DO YOU KNOW THAT IN CANADA TODAY, WE HAVE THE SECOND SLOWEST BUILDING PERMITS OF ANY COUNTRY IN THE OECD. THE ONLY WORST COUNTRY IS THE SLOVAK REPUBLIC. IN CANADA YOU TAKE ALL THE TYPES OF BUILDING PERMITS THAT EXIST, EVERYTHING FROM A RENOVATION PERMIT ON A HOUSE ALL THE WAY UP TO A FULL URANIUM MINE, AND YOU AVERAGE IT OUT. IN CANADA THE AVERAGE PERMIT TIME IS 250 DAYS. IN SOUTH KOREA, IT'S 28 DAYS. IF YOU WANT TO WONDER WHY INVESTORS ARE TAKING THEIR MONEY TO PLACES LIKE SOUTH KOREA, SINGAPORE, AUSTRALIA, NEW ZEALAND, SWITZERLAND, IRELAND, WHY? BECAUSE YOU CAN ACTUALLY GET THINGS BUILT IN THOSE COUNTRIES. THAT'S WHAT WE'RE GOING TO DO IN THIS COUNTRY. WE'RE GOING TO COMPRESS THE TIMELINES AND SPEED UP APPROVALS. WE'RE GOING TO CHALLENGE ALL LEVELS OF GOVERNMENT TO MEET THE GOAL OF HAVING CANADA AS THE FASTEST PLACE TO DELIVER A BUILDING PERMIT ANYWHERE IN THE DEVELOPED WORLD. THE MINISTER SAID TODAY SHE'S GOING TO GO AND PITCH THE WORLD ON OUR CRITICAL MINERALS. PROBLEM IS SHE CAN'T GET THEM OUT OF THE GROUND, RIGHT. SHE'S GOING TO TELL EVERYONE THAT THEY EXIST OUT THERE IN THAT FIELD, THERE'S SOME LITHIUM AND COPPER AND NICKEL, BUT YOU HAVE TO WAIT SEVEN YEARS FOR US TO GIVE A PERMIT FOR ANYONE TO DIG THAT MINE. SHE SAID SHE'S GOING TO GIVE OUT A BUNCH OF CORPORATE WELFARE TO MINING COMPANIES, BUT THOSE MINING COMPANIES WHO CAN FILL THEIR BANK ACCOUNTS WITH TAXPAYERS' CASH IF THEY CAN'T GET A PERMIT TO DIG THE MINE, THEY WON'T BE ABLE TO TURN IT INTO ANYTHING OTHER THAN BIG FAT BOONDOGGLES FOR TAXPAYERS, SO WE WILL REPEAL THE ANTI-ENERGY LAW, C-69, THAT WE CAN BUILD CANADIAN PIPELINES WITH CANADIAN STEEL TO TAKE CANADIAN ENERGY TO MARKETPLACES AROUND THE WORLD. WE'RE GOING TO ELIMINATE THE ANTI-INVESTMENT TAXES THAT PILE ON THE BACKS OF OUR ENTREPRENEURS SO THAT IT IS ACTUALLY REWARDING TO BUILD THINGS IN THIS COUNTRY. WE ARE GOING TO AXE THE CARBON TAX SO IT'S ACTUALLY POSSIBLE FOR OUR INDUSTRIES TO COMPETE AND FOR OUR PEOPLE TO AFFORD ENERGY IN THIS COUNTRY. AND AS FOR ENERGY, THERE ARE TWO VERY DIFFERENT APPROACHES. OVER THERE, THEY BELIEVE THAT WE SHOULD TACKLE CLIMATE CHANGE BY MAKING TRADITIONAL ENERGY THAT CANADIANS RELY ON MORE EXPENSIVE. WE BELIEVE IN TACKLING CLIMATE CHANGE BY MAKING NEW ALTERNATIVES MORE AFFORDABLE. WE'LL DO THAT. YES. WE WILL DO THAT BY INCENTIVIZING AND SPEEDING UP PERMITS TO MINE LITHIUM, COPPER, COBALT, GRAPHITE, AND OTHER NECESSARY MINERALS THAT WILL EVENTUALLY GO INTO CANADIAN-MADE ELECTRIC CARS AND TO OTHER FORMS OF RENEWABLE ENERGY. WE WILL INCENTIVIZE THE PRODUCTION OF THESE ENERGIES HERE IN CANADA. WE WILL INCENTIVIZE NUCLEAR ENERGY HERE ON CANADIAN SOIL SO THAT WE CAN POWER OUR ECONOMY EMISSIONS FREE, AND [Voice of Interpreter]: WE WILL ALSO CUT DOWN ON RED TAPE FOR DAMS IN QUÉBEC. WE KNOW THAT IN QUÉBEC, THEY DON'T SELL ENOUGH ELECTRICITY FOR THE FUTURE OF ELECTRIC CARS AND THE OTHER NEEDS OF A GREEN FUTURE. OUR SOLUTION IS TO BUILD DAMS. THE PRIME MINISTER WANTS TO DELAY THE CONSTRUCTION OF THESE DAMS BY DUPLICATING PROCUREMENT PROCESSES. WE AGREE WITH THE GOVERNMENT OF QUÉBEC. WE DON'T NEED TO ADD ANOTHER THREE, FOUR YEARS OF DELAYS FOR THESE PROJECTS BECAUSE THE GOVERNMENT OF QUÉBEC ALREADY HAS PROCESSS IN PLACE TO PROTECT THE ZEN. QUÉBECERS ARE ABLE TO TO PROTECT THE ENVIRONMENT AND WE WILL HELP THEM BY ALLOWING THE CONSTRUCTION OF HYDRO ELECTRIC DAMS. AND [END OF INTERPRETATION] FINALLY WE WILL MAKE THIS A COUNTRY WHERE WORK PAYS AGAIN. IT DOESN'T PAY TO WORK FOR A LOT OF PEOPLE, WHETHER YOU'RE ON DISABILITY AND YOU'VE RECOVERED TO A POINT OR YOU'VE ARRIVED AT A POINT IN YOUR LIFE WHERE YOU REALIZE YOU CAN WORK 10 OR 15 HOURS AND YOU WANT TO GET OUT INTO THE WORLD AND CONTRIBUTE. THE CLAWBACKS RIGHT NOW MEAN MANY PEOPLE ON DISABILITIES LOSE MORE THAN A DOLLAR FOR EVERY EXTRA DOLLAR THEY EARN. THIS GOVERNMENT PUBLISHED A REPORT SHOWING THAT A SINGLE MOTHER WITH THREE KIDS EARNING $55,000 A YEAR WHO EARNS ANOTHER DOLLAR LOSES 80 CENTS ON THAT DOLLAR SO SHE EARNS ABOUT $25 AN HOUR. SHE LOSES IN CLAWBACKS OF HER BENEFITS AND TAXES ON HER INCOME 20 OF THOSE DOLLARS. SO HER REAL WAGE ON THE EXTRA HOUR WORKED IS 5 BUCKS AN HOUR. NOBODY IN CANADA SHOULD BE EXPECTED TO WORK FOR $5 AN HOUR. THAT IS AN OUTRAGE, AND THAT IS WHY MY GOVERNMENT WILL REFORM OUR TAX AND BENEFIT SYSTEM TO ENSURE THAT WHENEVER SOMEBODY WORKS AN EXTRA HOUR, TAKES AN EXTRA SHIFT, OR EARNS AN EXTRA BONUS, THEY ARE ALWAYS BETTER OFF, THEY ALWAYS KEEP MORE OF THAT DOLLAR. WE WILL DO THIS TO RESTORE THE CANADIAN PROMISE. I LOOK AROUND THIS CHAMBER AND I SEE MANY INSPIRING STORIES LIKE MY FINANCE CRITIC WHO ROSE UP TODAY TO ASK THE FIRST QUESTION. THE SON OF IMMIGRANTS WHO GREW UP IN A TOUGH NEIGHBOURHOOD WITH A DIFFICULT CHILDHOOD BUT WAS ABLE TO GET A DIPLOMA IN ACCOUNTING WHICH HE'S PUTTING TO VERY GOOD USE IN THIS HOUSE. STARTED A BUSINESS, BUILT HOMES, GOT ELECTED TO SERVE IN A G7 PARLIAMENT. I MYSELF AM THE SON OF A 16-YEAR-OLD UNWED MOTHER WHO HAD TO PUT ME UP FOR ADOPTION TO TWO SCHOOL TEACHERS BUT THEY ALWAYS TAUGHT ME THAT IT DIDN'T MATTER WHERE I CAME FROM; IT MATTERED WHERE I WAS GOING. IT DIDN'T MATTER WHO I KNEW; IT MATTERED WHAT I COULD DO. THAT IS THE COUNTRY I WANT MY CHILDREN TO INHERIT. AND THAT IS THE COUNTRY WE'LL FIGHT FOR EVERY SINGLE DAY IN THIS
