Douglas Glenn FISHER

FISHER, Douglas Glenn, B.A.

Personal Data

Party
Liberal
Constituency
Mississauga North (Ontario)
Birth Date
November 28, 1942
Website
http://en.wikipedia.org/wiki/Douglas_Glenn_Fisher
PARLINFO
http://www.parl.gc.ca/parlinfo/Files/Parliamentarian.aspx?Item=f60da943-de97-40ad-b291-977a9f78c29f&Language=E&Section=ALL
Profession
businessman, publisher

Parliamentary Career

February 18, 1980 - July 9, 1984
LIB
  Mississauga North (Ontario)
  • Parliamentary Secretary to the Minister of Finance (March 1, 1982 - February 29, 1984)

Most Recent Speeches (Page 3 of 219)


May 15, 1984

Mr. Fisher:

We know that in the United States the personal savings rate is almost half of ours. They have a higher rate of absolute spending and a lower personal savings pool on which to draw on a per capita basis. That has been pushing up their interest rates. The kind of competition that exists in the money markets in the United States has not been experienced here, but it has been affecting our interest rates because the United States is such a huge magnet on our interest rates.

I see you signalling me that it is time to finish, Mr. Speaker. I would like to take a look at some areas where I believe we should be putting some of our efforts in the future. I would emphasize a continued development of Canadian trade. I agreed with the Hon. Member for St. John's West when I heard him say that earlier. I believe that every Canadian recognizes that trade has been a vital part of our economic recovery. We have seen some particularly strong performances in that area over the last couple of years. It should continue as a high government priority.

I would personally continue to emphasize tourism. We run a deficit in this area that is too big. Being in a northern country, of course our people want to go south to Florida, the Caribbean and Mexico in the winter. But we must find ways to counteract the attractiveness of those areas in order to keep our people here in Canada and to draw Americans into this country so that we can turn a tourism deficit into a tourism surplus.

I would continue to emphasize the high technology and joint production that we have seen in such areas as defence spending programs. I believe that we not only need to share the technology and to offset the costs, we also have a far too great domestic deficit in that area. We are importing too much for our own good. We need to start sharing the technology, developing our own industry, and then exporting our own goods.

Finally, I agree that we need to lower the deficit. Later this year we will be introducing some new taxes at the federal sales tax level, but I do not believe that we need to lower the deficit on the backs of the poor. I do not believe that there is a magic formula that we can use to slash the deficit. It must be lowered carefully. Government spending must be reviewed, which is our obligation. At the same time such a review must be targeted and conducted with an eye on the impact of the cut on the lives of ordinary citizens. Those who stand up here and

May 15, 1984

say that they would cut the deficit by some blanket amount are wrong and insensitive.

Those are some of the positive steps we have taken for our economy. I look forward to hearing some of the ideas of some of the hecklers on the other side.

Topic:   GOVERNMENT ORDERS
Subtopic:   BUSINESS OF SUPPLY
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May 15, 1984

Mr. Fisher:

Mr. Speaker, I was not aware that the Right Hon. Member for Yellowhead (Mr. Clark) said that about his own Government in December. Is that what the Hon. Member is trying to tell us, that the former Prime Minister felt that his Government was falling apart at the seams economically? I am sorry but I am a little confused about the advice the Hon. Member is giving to me.

Topic:   GOVERNMENT ORDERS
Subtopic:   BUSINESS OF SUPPLY
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May 15, 1984

Mr. Fisher:

Mr. Speaker, that is unusually polite of the Hon. Member. I appreciate his intervention, unnecessary though it was. It is typically unrevealing of what he really thinks or means.

The third point I would like to make, Mr. Speaker, is that we intend to build our recovery on a strong base across the country. That is why we introduced the six and five program two years ago to help get rid of inflation in our economy. That is why in the summer of 1982 we passed the National Training Act in order that young and unemployed people would have access to retraining. That is why in trade we put an emphasis

May 15, 1984

Supply

on Canagrex, the Export Development Corporation, and the new aid trade scheme.

Topic:   GOVERNMENT ORDERS
Subtopic:   BUSINESS OF SUPPLY
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May 15, 1984

Mr. Fisher:

We put an emphasis on Canadian ownership. That is why we brought in the National Energy Program and the joint spending in defence programs which I described a few minutes ago. That is why we have refused to buckle Tory demands that we throw away FIRA and that we simply stand at the door and toss our money out to foreigners.

We have improved our transport system. We are seeing the improvements now with our air deregulation plans and we saw it in rail with our upgrading of VIA and the Crow rate.

Topic:   GOVERNMENT ORDERS
Subtopic:   BUSINESS OF SUPPLY
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May 15, 1984

Mr. Fisher:

Mr. Speaker, I am pleased to see that the Liberal leadership race has attracted such a wide range of interest. The fact that it has reached the Hon. Member for Brampton-Georgetown (Mr. McDermid) shows that it has indeed been a successful campaign.

Supply

The Hon. Member can check the "blues" or Hansard, but I said in my speech that I would lower the deficit. 1 believe that we can do that in three ways. First, we can do it by making the economic pie larger, which will simply increase government revenue. I am sure that we both agree about that.

Second, we can increase government revenues by increasing taxes. The Member for St. John's West said that this morning. As the Hon. Member knows, that will happen in the fall when some of the increases in federal taxes, particularly the federal wholesale tax, come in.

Third, I believe we can reduce the deficit by reducing spending, but only very carefully. That is what I am trying to emphasize to the Hon. Member. Some of that spending will decrease automatically as demands for unemployment insurance and as demands on the Canada Assistance Program and some of the other social transfer programs decrease. We have an obligation obviously to decrease it beyond that, but in order to do so we must be very careful and sensitive to the needs of the individual.

Topic:   GOVERNMENT ORDERS
Subtopic:   BUSINESS OF SUPPLY
Full View Permalink