March 26, 1979 (30th Parliament, 4th Session)

LIB

Anthony Chisholm Abbott (Minister of National Revenue)

Liberal

Hon. A. C. Abbott (Minister of National Revenue and Minister of State (Small Business)):

Mr. Speaker, I would suggest that the gloom and doom and unsubstantiated rubbish which emanates from the opposition is probably the major cause for the lack of morale among small businessmen. Until the hon. member and others are prepared to tell us how many corporate formations took place in the last five years, the fact that bankruptcies are rising-while regrettable, under difficult circumstances-really does not tell the whole story.
It is true that there were more bankruptcies in the last two years than any of us would like to see. It is also a fact that over the past four or five years a great many more businesses have been created than in any previous five-year period. It is in those first five years that any business faces its greatest difficulties.
I think the hon. member should simply express his regret about those bankruptcies and not attempt to colour his remarks with editorial opinions about gloom and doom. I suggest that it is the gloom and doom emanating from his side of the House that is causing a lot of our problems in this country.

Topic:   ORAL QUESTION PERIOD
Subtopic:   NUMBER OF BANKRUPTCIES-GOVERNMENT ACTION TO REDUCE
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