May 7, 1974

?

Some hon. Members:

Hear, hear!

Topic:   GOVERNMENT ORDERS
Subtopic:   THE BUDGET
Sub-subtopic:   FINANCIAL STATEMENT OF THE MINISTER OF FINANCE
Permalink
LIB

Pierre Elliott Trudeau (Prime Minister)

Liberal

Mr. Trudeau:

The budget will remove the 12 per cent federal sales tax on clothing, footwear and other articles, to act directly against high prices.

Topic:   GOVERNMENT ORDERS
Subtopic:   THE BUDGET
Sub-subtopic:   FINANCIAL STATEMENT OF THE MINISTER OF FINANCE
Permalink
LIB

Stanley Ronald Basford (Minister of State for Urban Affairs)

Liberal

Mr. Basford:

They are opposed to that.

Topic:   GOVERNMENT ORDERS
Subtopic:   THE BUDGET
Sub-subtopic:   FINANCIAL STATEMENT OF THE MINISTER OF FINANCE
Permalink
LIB

Pierre Elliott Trudeau (Prime Minister)

Liberal

Mr. Trudeau:

Of course they are opposed to that. It was interesting to hear why the leader of the New Democratic Party was opposed to that. He was in favour of some kind of reduction of sales tax provided it did not apply to those lucky men whose wives were able to buy, I think he said, three party dresses, or something like that. I wonder what the leader of the NDP has in mind as a reduction in sales tax that he would apply only to those whose wives have less than three party dresses. How would he administer that? However, I will not go into that, Mr. Speaker. I just want to remind this House that in the last parliament the NDP were against the family allowances that we were proposing.

Topic:   GOVERNMENT ORDERS
Subtopic:   THE BUDGET
Sub-subtopic:   FINANCIAL STATEMENT OF THE MINISTER OF FINANCE
Permalink
?

Some hon. Members:

Hear, hear!

Topic:   GOVERNMENT ORDERS
Subtopic:   THE BUDGET
Sub-subtopic:   FINANCIAL STATEMENT OF THE MINISTER OF FINANCE
Permalink
LIB

Pierre Elliott Trudeau (Prime Minister)

Liberal

Mr. Trudeau:

There are a lot of new men over there. Perhaps some of them do not remember that. They said it would be administratively complicated, "Let's give it to everybody." With regard to the sales tax, however, they say, "Let's make sure we only cut sales tax on the articles sold to those people in the store who can presumably pass an incomes test in front of the storekeeper."

This budget would make it easier to save for the purchase of a home through tax-free savings up to $10,000. This budget would protect Canadian savings against inflation, just as personal income taxes were protected by this government against rising because of inflation. This budget would raise the war veterans allowance.

Topic:   GOVERNMENT ORDERS
Subtopic:   THE BUDGET
Sub-subtopic:   FINANCIAL STATEMENT OF THE MINISTER OF FINANCE
Permalink
?

Some hon. Members:

Oh, oh!

Topic:   GOVERNMENT ORDERS
Subtopic:   THE BUDGET
Sub-subtopic:   FINANCIAL STATEMENT OF THE MINISTER OF FINANCE
Permalink
LIB

Pierre Elliott Trudeau (Prime Minister)

Liberal

Mr. Trudeau:

I have trouble reading my own writing. I must confess it is even more difficult reading someone else's. More important to some people in this chamber, Mr. Speaker, this budget would have shifted the burden of taxation, for example, through the 10 per cent surtax to those corporate sectors most able to carry the burden while pushing ahead with expansion for increased supplies. I was rather intrigued by the expression used by the leader of the New Democratic Party to describe these corporate tax increases. The Minister of Finance indicated yesterday that, according to his estimate, this would bring in just short of $800 million for the year. That is one quarter of the $3.2 billion which was brought in through corporate taxes in the year 1973-74. In other words, this is a 25 per cent increase over last year's corporate taxes.

Topic:   GOVERNMENT ORDERS
Subtopic:   THE BUDGET
Sub-subtopic:   FINANCIAL STATEMENT OF THE MINISTER OF FINANCE
Permalink
?

Some hon. Members:

Hear, hear!

Topic:   GOVERNMENT ORDERS
Subtopic:   THE BUDGET
Sub-subtopic:   FINANCIAL STATEMENT OF THE MINISTER OF FINANCE
Permalink
LIB

Pierre Elliott Trudeau (Prime Minister)

Liberal

Mr. Trudeau:

I understand that the NDP does not think that is enough, but I am at this point in my speech trying to indicate what will happen if the government goes down with the budget: even this modest 25 per cent increase over last year's corporate taxes does not get back. Who is giving the companies of rip-off as a result of that?

Topic:   GOVERNMENT ORDERS
Subtopic:   THE BUDGET
Sub-subtopic:   FINANCIAL STATEMENT OF THE MINISTER OF FINANCE
Permalink
?

Some hon. Members:

Hear, hear!

Topic:   GOVERNMENT ORDERS
Subtopic:   THE BUDGET
Sub-subtopic:   FINANCIAL STATEMENT OF THE MINISTER OF FINANCE
Permalink
LIB

Pierre Elliott Trudeau (Prime Minister)

Liberal

Mr. Trudeau:

This budget does not take the easy way. It was not designed to do that. If any proof is needed to show that we do not want an election, Mr. Speaker, I think the judgment has been that this is not an election budget because we do not want an election. We want responsible economic policies. We want, not the easy way that the doctrinaire NDP or the controllers of wages on the Tory side want, but one which will keep the economy operating as the number one economy in the world, Mr. Speaker.

Topic:   GOVERNMENT ORDERS
Subtopic:   THE BUDGET
Sub-subtopic:   FINANCIAL STATEMENT OF THE MINISTER OF FINANCE
Permalink
?

Some hon. Members:

Hear, hear!

Topic:   GOVERNMENT ORDERS
Subtopic:   THE BUDGET
Sub-subtopic:   FINANCIAL STATEMENT OF THE MINISTER OF FINANCE
Permalink
LIB

Pierre Elliott Trudeau (Prime Minister)

Liberal

Mr. Trudeau:

I must now ask the House to follow me into the order paper of today's date and to look at some of the measures at various stages of legislation in the House which will be disappearing if this parliament is indeed brought to an end tomorrow or this week. Let me take a few examples in various areas, beginning with food and agriculture. First is a bill of which we are proud and

May 7, 1974

which we want to talk about a great deal during an election, Bill C-29, an act to amend the Combines Investigation Act. We are looking forward to joining issue with those who make an easy debate on gouging and profiteering and who have easy solutions. We have a bill here that we are prepared to stand on and to put before the country at any time.

Topic:   GOVERNMENT ORDERS
Subtopic:   THE BUDGET
Sub-subtopic:   FINANCIAL STATEMENT OF THE MINISTER OF FINANCE
Permalink
?

Some hon. Members:

Hear, hear!

Topic:   GOVERNMENT ORDERS
Subtopic:   THE BUDGET
Sub-subtopic:   FINANCIAL STATEMENT OF THE MINISTER OF FINANCE
Permalink
LIB

Pierre Elliott Trudeau (Prime Minister)

Liberal

Mr. Trudeau:

The results of the non-passage of this bill will be that the power to roll back prices is lost. If the bill is lost, Mr. Speaker, the government will be denied at this time the ability to deal effectively with foodstuffs such as meat, canned fruit, vegetables, bread, and so on. I am just talking about food, but this also applies to other sectors where gouging exists. It would deny the government the means to apply strong pressure on those who profit unreasonably in the marketplace when competition is lacking.

Then we have Bill C-7, amendments to the Combines Investigation Act. This bill is based on the belief that a vigorous competition policy is fundamental to any antiinflation program. Countries all over the world have been tightening up their laws on competition in recent years to ensure the lowest possible prices to the consumer. The government, as the House knows, has been pressing for amendments to this law since 1970. The amendments to the Combines Investigation Act now before parliament go a long way toward remedying defects and are an important part of the government's anti-inflation program. The results of non-passage of this bill would be that a powerful antidote to inflation would be lost. Failure to pass the bill would be irresponsible on the part of parliament. Failure to act on these amendments can only favour unacceptable business acts that daily harm the consumer.

Then what about the act to amend the Agricultural Products Co-operative Marketing Act? The present act provides, essentially, to producers of other crops and producers of wheat grain outside the designated areas under the Canadian Wheat Board Act what the Canadian Wheat Board Act provides for western wheat producers. Results of non-passage would be that it might hinder production because of the greater need for cash flow by producers at the present time. It would also prevent the Ontario wheat producers from having some of the advantages now received by western producers.

Then there is Bill C-25, an act to amend the Prairie Grain Advance Payments Act. The results of non-passage would mean less stable marketing of grain and would create a jam in transportation, since the farmers would not be inclined to hold grain on their farms until acceptance and delivery, thus affecting 50,000 producers.

Topic:   GOVERNMENT ORDERS
Subtopic:   THE BUDGET
Sub-subtopic:   FINANCIAL STATEMENT OF THE MINISTER OF FINANCE
Permalink
?

Some hon. Members:

Oh, oh!

Topic:   GOVERNMENT ORDERS
Subtopic:   THE BUDGET
Sub-subtopic:   FINANCIAL STATEMENT OF THE MINISTER OF FINANCE
Permalink
LIB

Pierre Elliott Trudeau (Prime Minister)

Liberal

Mr. Trudeau:

Then in the area of social policy I should just mention Bill C-35 which was given first reading, I believe, only yesterday. This is the omnibus bill on equal rights for women. We on this side are proud of that bill and we will tell the country that the women of this country are equal.

Topic:   GOVERNMENT ORDERS
Subtopic:   THE BUDGET
Sub-subtopic:   FINANCIAL STATEMENT OF THE MINISTER OF FINANCE
Permalink
PC

John Patrick (Pat) Nowlan

Progressive Conservative

Mr. Nowlan:

You have had 11 years to do that.

Topic:   GOVERNMENT ORDERS
Subtopic:   THE BUDGET
Sub-subtopic:   FINANCIAL STATEMENT OF THE MINISTER OF FINANCE
Permalink
PC

Walter David Baker (Deputy House Leader of the Official Opposition; Progressive Conservative Party Deputy House Leader)

Progressive Conservative

Mr. Baker:

Even the girls don't like it.

The Budget-Mr. Trudeau

Topic:   GOVERNMENT ORDERS
Subtopic:   THE BUDGET
Sub-subtopic:   FINANCIAL STATEMENT OF THE MINISTER OF FINANCE
Permalink

May 7, 1974