May 7, 1974

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An hon. Member:

Let it rip off for the oil companies, David.

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

Thomas Miller Bell (Official Opposition House Leader; Progressive Conservative Party House Leader)

Progressive Conservative

Mr. Bell:

Be careful what you say about David.

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

Pierre Elliott Trudeau (Prime Minister)

Liberal

Mr. Trudeau:

It is true that we have heard a lot about robber barons from the NDP, but the consequence of this more than half a billion dollars which it would not be in the power of the government to collect under the law, if it is not passed, would go to the oil companies. Some 47 per cent of the oil in Canada is produced by five major companies, and we assume that the exports would be in that same area. This production is divided up in the following manner: Imperial Oil, 18 per cent; Texaco, 11 per cent; Mobil, 8 per cent; Gulf, 7 per cent; Shell, 6 per cent. That is just a rough calculation, but these are the percentages and these are the figures in respect of which the NDP and the Tories would see the government put in a situation in which it was impossible to collect as a result of the non-passage of this bill.

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
?

An hon. Member:

You fellows ought to be in the funny papers.

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:

Those are only matters which are on the order paper, but there are many other measures mentioned in the Speech from the Throne which are ready for imminent introduction. I will mention just three which have to deal with the increase in food supply and stabilization of food production. One would be the amendments to the Farm Credit Act, to provide greater assistance to young farmers; another would be amendments to the Agricultural Stabilization Act, to broaden its scope; and the third would be grain marketing stabilization legislation based on cash advance payments on crops.

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

Alfred Dryden Hales

Progressive Conservative

Mr. Hales:

Tell us about the Unemployment Insurance Act.

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

Pierre Elliott Trudeau (Prime Minister)

Liberal

Mr. Trudeau:

Yes, Mr. Speaker, amendments to that act would be brought in very soon, as the hon. member suggests.

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

Some hon. Members:

Promises, promises.

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:

That was an attempt, perhaps a lengthy one, to put on the record one very simple fact. That is, that

May 7, 1974

parliament is doing its job and this government would like to see this parliament continue doing its job.

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:

Mr. Speaker, this record of achievement which the government has put before you tonight is an effective record. It is an effective record by a minority government that has been successful in making this minority parliament produce. It is simply not good enough for the leader of either party who wishes to destroy this parliament to say that the first session was productive but that this session was not. I have already cited legislation of vital importance to farmers, fishermen, small businessmen and consumers, legislation important to increasing Canadian activity and control in key sectors of our society, vital legislation that would die on the order paper and legislation that would have to wait, if an election were held, until a new Liberal government returns to provide it.

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:

Consistently since this parliament began, this government has attacked inflation by a severalpronged approach. The Minister of Finance was true yesterday to that approach. In legislation, in administrative action and in two budgets the government has shown its attack on inflation. It has consistently sought to increase supply, to get the farmers, the fishermen and the factories producing more. We sought to go after extremes of profit. On the one hand we have consistently sought to stop gouging. For all Canadians we sought to bring down prices, on the other hand, by subsidies and by other measures. We cut taxes, and finally, for the Canadians who are hurt most by inflation, we brought in an array of measures which increased and indexed their pensions and other sources of income.

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:

Mr. Speaker, that was an attack on inflation. It is an attack increasingly understood by farmers, by fishermen, by consumers and by producers. Very recently, even small businessmen across Canada who for a time had embraced price and wage controls reversed their opinion and stated that they were against price and wage controls. They dislike wage and price controls because they have seen the shortages that develop as a result of controls and because they know they will have to pay an inflated price for the materials in short supply. They have observed the experience of Great Britain and the United States and have said to the Leader of the Opposition, "No thanks. Not for us".

It is true that our attack on inflation is not a simple one. It is a complex one. It is a complex solution to a complex problem. We certainly reject the simple, and perhaps simple-minded, approach that has been brought to bear by the opposition on this question. These Tory controls would control the wages of the workingman. Prices have already risen very high, and controls will not bring them down. If you freeze high prices, there are still high prices; but if you freeze wages, there are still low wages.

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

Some hon. Members:

Hear, hear!

The Budget-Mr. Trudeau

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 am sure many of us on this side of the House will want to explain this at some length to the country if we become involved in an election campaign. We have explained before, and will explain again, that these simplistic solutions in reality are Conservative solutions, ones which a Liberal Party would not want to place on the workingman and the fisherman. I think perhaps the slogan I would suggest to the Tory Party for its measure would be: The price is right; let us freeze the wages.

Mr. Speaker, I was attempting to show that this parliament has been doing a relatively good job-an admission of some of the opposition parties until now. I want to conclude by asking all members of this House, including myself, to try to put aside for a moment any partisan spirit. I would ask the members of this House, as we will ask the citizens of this country if we are forced to ask them for a renewed mandate, to reflect upon the troubled world in which Canadians are living. I do not think that anyone who looks at other parts of the world would be unaware of the economic and political instability which exists in many countries. I would appeal to Canadians to consider, not that everything is fine and dandy but that Canada is doing, shall we say, relatively well in this troubled world.

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
?

An hon. Member:

The land is relatively strong.

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

May 7, 1974