Bill C-59

Fall Economic Statement Implementation Act, 2023

An Act to implement certain provisions of the fall economic statement tabled in Parliament on November 21, 2023 and certain provisions of the budget tabled in Parliament on March 28, 2023

Part 1 implements certain measures in respect of the Income Tax Act and the Income Tax Regulations by
(a) limiting the deductibility of net interest and financing expenses by certain corporations and trusts, consistent with certain Organisation for Economic Co-operation and Development and the Group of Twenty Base Erosion and Profit Shifting project recommendations;
(b) implementing hybrid mismatch rules consistent with the Organisation for Economic Co-operation and Development and the Group of Twenty Base Erosion and Profit Shifting project recommendations regarding cross-border tax avoidance structures that exploit differences in the income tax laws of two or more countries to produce “deduction/non-inclusion mismatches”;
(c) allowing expenditures incurred in the exploration and development of all lithium to qualify as Canadian exploration expenses and Canadian development expenses;
(d) ensuring that only genuine intergenerational business transfers are excluded from the anti-surplus stripping rule in section 84.1 of the Income Tax Act ;
(e) denying the dividend received deduction for dividends received by Canadian financial institutions on certain shares that are held as mark-to-market property;
(f) increasing the rate of the rural supplement for Climate Action Incentive payments (CAIP) from 10% to 20% for the 2023 and subsequent taxation years as well as referencing the 2016 census data for the purposes of the CAIP rural supplement eligibility for the 2023 and 2024 taxation years;
(g) providing a refundable investment tax credit to qualifying businesses for eligible carbon capture, utilization and storage equipment;
(h) providing a refundable investment tax credit to qualifying businesses for eligible clean technology equipment;
(i) introducing, under certain circumstances, labour requirements in relation to the new refundable investment tax credits for eligible carbon capture, utilization and storage equipment as well as eligible clean technology equipment;
(j) removing the requirement that credit unions derive no more than 10% of their revenue from sources other than certain specified sources;
(k) permitting a qualifying family member to acquire rights as successor of a holder of a Registered Disability Savings Plan following the death of that plan’s last remaining holder who was also a qualifying family member;
(l) implementing consequential changes of a technical nature to facilitate the operation of the existing rules for First Home Savings Accounts;
(m) introducing a tax of 2% on the net value of equity repurchases by certain Canadian corporations, trusts and partnerships whose equity is listed on a designated stock exchange;
(n) exempting certain fees from the refundable tax applicable to contributions under retirement compensation arrangements;
(o) introducing a technical amendment to the provision that authorizes the sharing of taxpayer information for the purposes of the Canadian Dental Care Plan;
(p) implementing a number of amendments to the general anti-avoidance rule (GAAR) as well as introducing a new penalty applicable to transactions subject to the GAAR and extending the normal reassessment period for the GAAR by three years in certain circumstances;
(q) facilitating the creation of employee ownership trusts;
(r) introducing specific anti-avoidance rules in relation to corporations referred to as substantive CCPCs; and
(s) extending the phase-out by three years, and expanding the eligible activities, in relation to the reduced tax rates for certain zero-emission technology manufacturers.
It also makes related and consequential amendments to the Excise Tax Act and the Excise Act, 2001 .
Part 2 enacts the Digital Services Tax Act and its regulations. That Act provides for the implementation of an annual tax of 3% on certain types of digital services revenue earned by businesses that meet certain revenue thresholds. It sets out rules for the purposes of establishing liability for the tax and also sets out applicable reporting and filing requirements. To promote compliance with its provisions, that Act includes modern administration and enforcement provisions generally aligned with those found in other taxation statutes. Finally, this Part also makes related and consequential amendments to other texts to ensure proper implementation of the tax and cohesive and efficient administration by the Canada Revenue Agency.
Part 3 implements certain Goods and Services Tax/Harmonized Sales Tax (GST/HST) measures by
(a) ensuring that an interest in a corporation that does not have its capital divided into shares is treated as a financial instrument for GST/HST purposes;
(b) ensuring that interest and dividend income from a closely related partnership is not included in the determination of whether a person is a de minimis financial institution for GST/HST purposes;
(c) ensuring that an election related to supplies made within a closely related group of persons that includes a financial institution may not be revoked on a retroactive basis without the permission of the Minister of National Revenue;
(d) making technical amendments to an election that allows electing members of a closely related group to treat certain supplies made between them as having been made for nil consideration;
(e) ensuring that certain supplies between the members of a closely related group are not inadvertently taxed under the imported taxable supply rules that apply to financial institutions;
(f) raising the income threshold for the requirement to file an information return by certain financial institutions;
(g) allowing up to seven years to assess the net tax adjustments owing by certain financial institutions in respect of the imported taxable supply rules;
(h) expanding the GST/HST exemption for services rendered to individuals by certain health care practitioners to include professional services rendered by psychotherapists and counselling therapists;
(i) providing relief in relation to the GST/HST treatment of payment card clearing services;
(j) allowing the joint venture election to be made in respect of the operation of a pipeline, rail terminal or truck terminal that is used for the transportation of oil, natural gas or related products;
(k) raising the input tax credit (ITC) documentation thresholds from $30 to $100 and from $150 to $500 and allowing billing agents to be treated as intermediaries for the purposes of the ITC information rules; and
(l) extending the 100% GST rebate in respect of new purpose-built rental housing to certain cooperative housing corporations.
It also implements an excise tax measure by creating a joint election mechanism to specify who is eligible to claim a rebate of excise tax for goods purchased by provinces for their own use.
Part 4 implements certain excise measures by
(a) allowing vaping product licensees to import packaged vaping products for stamping by the licensee and entry into the Canadian duty-paid market as of January 1, 2024;
(b) permitting all cannabis licensees to elect to remit excise duties on a quarterly rather than a monthly basis, starting from the quarter that began on April 1, 2023;
(c) amending the marking requirements for vaping products to ensure that the volume of the vaping substance is marked on the package;
(d) requiring that a person importing vaping products must be at least 18 years old; and
(e) introducing administrative penalties for certain infractions related to the vaping taxation framework.
Part 5 enacts and amends several Acts in order to implement various measures.
Subdivision A of Division 1 of Part 5 amends Subdivision A of Division 16 of Part 6 of the Budget Implementation Act, 2018, No. 1 to clarify the scope of certain non-financial activities in which federal ‚financial institutions may engage and to remove certain discrepancies between the English and French versions of that Act.
Subdivision B of Division 1 of Part 5 amends the Trust and Loan Companies Act , the Bank Act and the Insurance Companies Act to, among other things, permit federal financial institutions governed by those Acts to hold certain meetings by virtual means without having to obtain a court order and to permit voting during those meetings by virtual means.
Division 2 of Part 5 amends the Canada Labour Code to, among other things, provide a leave of absence of three days in the event of a pregnancy loss and modify certain provisions related to bereavement leave.
Division 3 of Part 5 enacts the Canada Water Agency Act . That Act establishes the Canada Water Agency, whose role is to assist the Minister of the Environment in exercising or performing that Minister’s powers, duties and functions in relation to fresh water. The Division also makes consequential amendments to other Acts.
Division 4 of Part 5 amends the Tobacco and Vaping Products Act to, among other things,
(a) authorize the making of regulations respecting fees or charges to be paid by tobacco and vaping product manufacturers for the purpose of recovering the costs incurred by His Majesty in right of Canada in relation to the carrying out of the purpose of that Act;
(b) provide for related administration and enforcement measures; and
(c) require information relating to the fees or charges to be made available to the public.
Division 5 of Part 5 amends the Canadian Payments Act to, among other things, provide that additional persons are entitled to be members of the Canadian Payments Association and clarify the composition of that Association’s Stakeholder Advisory Council.
Division 6 of Part 5 amends the Competition Act to, among other things,
(a) modernize the merger review regime, including by modifying certain notification rules, clarifying that Act’s application to labour markets, allowing the Competition Tribunal to consider the effect of changes in market share and the likelihood of coordination between competitors following a merger, extending the limitation period for mergers that were not the subject of a notification to the Commissioner of Competition and placing a temporary restraint on the completion of certain mergers until the Tribunal has disposed of any application for an interim order;
(b) improve the effectiveness of the provisions that address anti-competitive conduct, including by allowing the Commissioner to review the effects of past agreements and arrangements, ensuring that an order related to a refusal to deal may address a refusal to supply a means of diagnosis or repair and ensuring that representations of a product’s benefits for protecting or restoring the environment must be supported by adequate and proper tests and that representations of a business or business activity for protecting or restoring the environment must be supported by adequate and proper substantiation;
(c) strengthen the enforcement framework, including by creating new remedial orders, such as administrative monetary penalties, with respect to those collaborations that harm competition, by creating a civilly enforceable procedure to address non-compliance with certain provisions of that Act and by broadening the classes of persons who may bring private cases before the Tribunal and providing for the availability of monetary payments as a remedy in those cases; and
(d) provide for new procedures, such as the certification of agreements or arrangements related to protecting the environment and a remedial process for reprisal actions.
The Division also amends the Competition Tribunal Act to prevent the Competition Tribunal from awarding costs against His Majesty in right of Canada, except in specified circumstances.
Finally, the Division makes a consequential amendment to one other Act.
Division 7 of Part 5 amends the Bankruptcy and Insolvency Act and the Companies’ Creditors Arrangement Act to exclude from their application prescribed public post-secondary educational institutions.
Subdivision A of Division 8 of Part 5 amends the Proceeds of Crime (Money Laundering) and Terrorist Financing Act to, among other things,
(a) provide that, if a person or entity referred to in section 5 of that Act has reasonable grounds to suspect possible sanctions evasion, the relevant information is reported to the Financial Transactions and Reports Analysis Centre of Canada;
(b) add reporting requirements for persons and entities providing certain services in respect of private automatic banking machines;
(c) require declarations respecting money laundering, the financing of terrorist activities and sanctions evasion to be made in relation to the importation and exportation of goods; and
(d) authorize the Financial Transactions and Reports Analysis Centre of Canada to disclose designated information to the Department of the Environment and the Department of Fisheries and Oceans, subject to certain conditions.
It also amends the Budget Implementation Act, 2023, No. 1 in relation to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and makes consequential amendments to other Acts and a regulation.
Subdivision B of Division 8 of Part 5 amends the Criminal Code to, among other things,
(a) in certain circumstances, provide that a court may infer the knowledge or belief or recklessness required in relation to the offence of laundering proceeds of crime and specify that it is not necessary for the prosecutor to prove that the accused knew, believed they knew or was reckless as to the specific nature of the designated offence;
(b) remove, in the context of the special warrants and restraint order in relation to proceeds of crime, the requirement for the Attorney General to give an undertaking, as well as permit a judge to attach conditions to a special warrant for search and seizure of property that is proceeds of crime; and
(c) modify certain provisions relating to the production order for financial data to include elements specific to accounts associated with digital assets.
It also makes consequential amendments to the Seized Property Management Act and the Forfeited Property Sharing Regulations .
Division 9 of Part 5 retroactively amends section 42 of the Federal-Provincial Fiscal Arrangements Act to specify the payments about which information must be published on a Government of Canada website, as well as the information that must be published.
Division 10 of Part 5 amends the Public Sector Pension Investment Board Act to increase the number of directors in the Public Sector Pension Investment Board, as well as to provide for consultation with the portion of the National Joint Council of the Public Service of Canada that represents employees when certain candidates are included on the list for proposed appointment as directors.
Division 11 of Part 5 enacts the Department of Housing, Infrastructure and Communities Act , which establishes the Department of Housing, Infrastructure and Communities, confers on the Minister of Infrastructure and Communities various responsibilities relating to public infrastructure and confers on the Minister of Housing various responsibilities relating to housing and the reduction and prevention of homelessness. The Division also makes consequential amendments to other Acts and repeals the Canada Strategic Infrastructure Fund Act .
Division 12 of Part 5 amends the Employment Insurance Act to, among other things, create a benefit of 15 weeks for claimants who are carrying out responsibilities related to
(a) the placement with the claimant of one or more children for the purpose of adoption; or
(b) the arrival of one or more new-born children of the claimant into the claimant’s care, in the case where the person who will be giving or gave birth to the child or children is not, or is not intended to be, a parent of the child or children.
The Division also amends the Canada Labour Code to create a leave of absence of up to 16 weeks for an employee to carry out such responsibilities.

Fall Economic Statement Implementation Act, 2023

[Jean-Denis Garon, Bloc, Mirabel, QC]

Mr. Speaker, I would like to wish you a happy new year. I know it is a little late, but people say that it is like RRSPs: We have the first 60 days of the year to offer our best wishes. I wish all my colleagues a very happy new year.

I find it fascinating that we are starting this new session with a debate on the economic statement. It is curious, because during the holidays, the Conservative leader was very interested in budget issues; he spoke of them often. Since we are starting off nice and slow and we seem to have a pretty good atmosphere, I thought I would tell a joke. What is the difference between Quebeckers and the leader of the official opposition? Well, they are both in the wrong country. At some point, we Quebeckers will need to get our independence. The Conservative leader is living in a conspiracy theory. We heard him over the break. The glasses have come off. All he needs now is the orange tan and the blonde hair.

The dictionary says that a conspiracy is someone who thinks there is a secret agreement against someone or something. The Conservative leader toured Quebec saying that the Bloc Québécois supports 100% of the Liberals' economic policies. The Conservative leader's tone, the unpleasant, disrespectful tone he had over the holidays, which he has here in the House, and his gratuitous attacks on everyone that have no basis in fact, clearly show us that the Conservatives' best strategy is to say that offence is the best defence. Why? There is one party in the House that supports each and every Liberal policy. I am not talking about the NDP, whose members are Liberals by definition. I am talking about the Conservatives. It is even worse for Quebec Conservatives.

A Conservative member from Quebec is basically just a Liberal. Both parties have a fetish for oil. Some people have a foot fetish, while others, like the Conservatives and the Liberals, have an oil fetish. Bill C‑59 gives oil companies $18 billion in subsidies, or what the Liberals are referring to as tax credits and clean investments. How do they define “clean”? For them, clean means building nuclear reactors paid for with Quebeckers' tax dollars—both the Liberals and the Conservatives are compulsive taxers—so that we stop cleaning up the oil sands with gas and so that we can export gas. I hope that the Conservatives and Liberals get cleaner than that when they shower. It is all the same.

The carbon tax does not apply in Quebec. They sounded so foolish that they stopped saying it. There is a reason why they are against the carbon tax in the other provinces. If there is no more carbon tax, then emissions will rise, and they will be able to impose more taxes on Quebeckers and give more subsidies to oil companies with Quebeckers' tax dollars. Those are their equalization payments. The Quebec Conservatives, like the Liberals, are people who live only for western Canada and dirty oil.

The Organisation for Economic Co-operation and Development, the OECD, has said that the storage tax credit is an illusion. It has no role to play in any structured solution to global warming. Bill C‑59 provides $12.5 billion in carbon storage investments. Who is in agreement about these subsidies? The Liberals and the Conservatives are. The Conservatives have supported the Liberals' economic policies at every turn.

That is interference in Quebec's affairs. It is funny, though. Trampling all over Quebec, meddling in its affairs and engaging in interference are practically Liberal hallmarks. The Liberals have a lot of experience in this regard and, as the bill shows, unique expertise too. They tell us that they are going to put together a department of municipal affairs, an undertaking that has failed before. To listen to the Liberals, it would almost seem that no stop sign or speed bump could possibly be installed in any residential neighbourhood without the federal government's help. Complicating existing structures, picking more fights and adding more phases to negotiations, only to build no housing and make no progress, is classic Liberal behaviour. As the member for Longueuil—Saint-Hubert aptly said, it is what Liberals do.

We thought the Conservatives were different, but no. Unfortunately, the Leader of the Opposition may have had a little too much time on his hands during the holidays. What did he do? He managed to outdo the Liberals when it comes to meddling. He went to Longueuil, Montreal and Quebec City to insult the mayors and demonstrate his total lack of knowledge of how the system works. Quebec municipalities receive their funding from Quebec City and the transfers go to Quebec City. This king of meddling, the Conservative king of meddling, is the guy who, when he was a minister, built nothing but housing slabs—no deliverables, no construction. The Leader of the Opposition could not even recognize a two-by-four in a hardware store. Who supports the Liberals' economic policies? The Conservatives do.

Here is something surprising. When half of Quebec was being insulted during the holiday season, where were the Quebec Conservatives? Were they off buying turkeys by the dozen and attending tons of New Year's Eve parties? They were absolutely nowhere to be seen.

Let us move on to the Liberal policy on asylum seekers. Ottawa owes Quebec $470 million. Why is that? Quebec welcomed 65,000 asylum seekers in 2023, or 45% of all asylum seekers, even though we represent only 22% of the Canadian population. We welcome them with open arms, as best we can, with all the resources at our disposal. When Quebec asks to be compensated for its contribution, the Liberals reply that they are not an ATM, as if Quebeckers do not pay taxes to Ottawa.

How many Conservatives from Quebec rose to defend the Premier of Quebec when he made this request? Not a single one, because the Quebec Conservatives are red from head to toe. They could almost run for the NDP; there would be no difference.

That is what is happening in the House. Only one party is worthy of Quebeckers' trust. We see that on the ground; we feel it. Only one party is consistent, only one party stays true, only one party does not spend its time flip-flopping, sloganeering and campaigning two years ahead of an election: the Bloc Québécois.

The Bloc Québécois is the only party that will always stand up for seniors and demand an OAS raise for everyone over 65 so as to put an end to the two classes of seniors the Liberals created.

Only one party is demanding an end to fossil fuel subsidies. Not even the NDP is calling for that; only the Bloc Québécois is.

Only one party called for the CEBA repayment deadline to be extended to keep small and medium-sized businesses afloat. That was us. Even the Conservatives did not join our efforts to save businesses and innovators, the people who make up the industrial and commercial fabric of our cities, our towns and our regions.

Only one party is calling for a media fund. The Conservatives want to shut down the media, and the Liberals are staying mum.

Only one party is calling for an emergency homelessness fund. The only thing the Conservatives want to do about homelessness is speed up global warming so that the winters are not so hard on the homeless. Only one party is doing that. As the member for Longueuil—Saint‑Hubert says, only one party is calling for an affordable housing acquisition fund for our non-profit organizations in Quebec.

Bearing all that in mind, who really supports the Liberals' economic policies in the House? The Conservative members from Quebec do. Quebeckers will remember that.

Quebeckers can see that and they are smart. We appeal to Quebeckers' intelligence, and that is to our credit. We will continue to do so. We will continue to be trustworthy. When the election comes, Quebeckers will understand that we have been steadfast and consistent, and that we have worked for them.

Should a day come when Quebeckers grow tired of making agonizing choices about which bad party they should vote into power in Ottawa, there is a solution: We can vote for independence, pack up and leave, and let the other provinces and territories resolve their issues as a family.

[Brenda Shanahan, Liberal, Châteauguay—Lacolle, QC]

Mr. Speaker, I really enjoyed my colleague's speech, especially when we consider the expression “the enemy of my enemy is my friend”. He spent most of his speech making completely valid attacks against the Conservatives. Just before I ask my question, since we are joking around here, I want to say “hello, bonjour” to you, Mr. Speaker, and wish you a happy new year. I am saying that because we are all Quebeckers and we, on this side of the House, also speak for Quebeckers.

I wanted to point out a few contradictions. When he was the environment minister for the Parti Québécois government, the leader of the Bloc Québécois approved oil exploration off Anticosti Island. He also approved other things that I believe go against the principles that the Bloc Québécois is advocating for today.

Why did the members of the Bloc Québécois vote against our budget? By so doing, they voted against the investments in housing that we made for Quebec.

[Jean-Denis Garon, Bloc, Mirabel, QC]

Mr. Speaker, I am somewhat surprised that the member for Châteauguay—Lacolle is happy to hear me say that the Conservatives are as bad as the Liberals. Apparently, they take compliments any way they can.

I did my Ph.D. in Ontario. I am bilingual. In Quebec, we greet people in French. I think that is one of our selling points, something that makes us valuable. I understand that the member is very comfortable with the fact that her government will be pouring $800 million of public money, including Quebeckers' money, into English-speaking organizations to defend English in Quebec over the next few years. She may have political reasons for doing so. I think it is appalling.

I will conclude by saying that I am very proud that Quebec's CO₂ emissions trading system was implemented by our leader when he was the environment minister, and I think history will remember that.

[Jacques Gourde, Conservative, Lévis—Lotbinière, QC]

Mr. Speaker, I want to thank my colleague for his attacks on the Conservatives, on the next government. He got some good practice in. It will come as no surprise that the Conservatives may very well form the next government.

I would like my colleague to lay out the costs of all the demands he made in his speech so we can have an idea of where to head with future budgets.

[Jean-Denis Garon, Bloc, Mirabel, QC]

Mr. Speaker, when his leader was attacking all the mayors in Quebec over the holidays, my colleague went into hiding.

Sometimes we have to bug them a bit to get a reaction.

I will take just a few seconds to tell my colleague that Bill C‑59 provides two years' worth of equalization payments in subsidies for the oil companies. I will give him a chance to think about that.

[Lori Idlout, NDP, Nunavut, NU]

[Member spoke in Inuktitut ]

[English]

Mr. Speaker, what I just said in Inuktitut is that I am always so happy to rise and speak in Inuktitut in the House.

As we all know, most MPs here are settlers or are ancestors of settlers, Quebec included. I wonder if the member has, or if anyone in his party has, consulted with the indigenous peoples in Quebec, the Cree and the Innu, who most likely would wish to stay in Canada as opposed to what the member shared in his intervention.

[Jean-Denis Garon, Bloc, Mirabel, QC]

Mr. Speaker, I think that the member for Longueuil—Saint-Hubert did a good job earlier explaining what might happen if there were a referendum. If one is called, there will be a national conversation in Quebec. Thank goodness it will be far away from this Parliament.

[Darrell Samson, Liberal, Parliamentary Secretary to the Minister of Rural Economic Development and Minister responsible for the Atlantic Canada Opportunities Agency]

Mr. Speaker, I wish you a happy 2024. I will be sharing my time with the member for Vaughan—Woodbridge.

My speech today will be on the economy, which is very important, but also on our government's position on the economy. I will talk about affordability and, of course, housing, an important topic.

I want to underline that we are in a great position economically right now as country. I want to share some of our strengths, and this comes not just from me but from other sources around the world. Let us keep in mind that Canadians created 1.4 million jobs before COVID. We recaptured that 1.4 million, built on it and Canadians now have an extra one million jobs.

The International Monetary Fund predicts that this year Canada will have the strongest economy in the G7. The OECD also said that Canada received the third-most foreign direct investment in the world last year. Also, on labour, when we took power in 2015, the unemployment rate was at about 7%. Now the unemployment rate is down to 5.7%. These are facts.

Before COVID, inflation was at 2%. COVID pushed it to 8.1%. Today it is down to 3.4% and it continues to drop. We continue to have our AAA credit rating, which is extremely important.

When it comes to affordability, there are two pieces. The first is what we have done since the last election in 2021. We have made some great investments for Canadians because we know that affordability is challenging and that we need to be there to support them.

We doubled the GST credit for two payments for those receiving it, which helped 11 million people. It also helped over 300,000 Nova Scotians. We added supports for a grocery rebate, which again helped 11 million people and over 300,000 Nova Scotians.

On the Canada workers benefit, which represents about $2,461 per year, we made adjustments so they receive three quarterly payments. This helps with affordability as well.

We have of course eliminated the interest on Canada student loans, helping young Canadians in dealing with affordability.

We have indexed, and this is crucial, key benefits to inflation. If another government takes over some day, it will not be able to stop it, unless it brings legislation to the House. We indexed the Canada child benefit, ensuring that young families will continue to prosper. We have also indexed the GST and the Canada pension plan, which we made major changes to with the provinces back in 2017. The OAS and the GIS have both been indexed and will ensure seniors can continue to prosper as well.

We also brought in dental support for children under 12 years old, of which over 1,200 Nova Scotians have taken advantage.

These are some investments we made in the past two years. What the fall economic economic statement brings to the table today is also key areas of investments.

We are expanding the dental benefit to not just children 12 and under, but to 18 and under. For seniors, January, February, March and April are important months because they will have access to dental care, which is very important. People with disabilities will also have access starting this year. Next year, all Canadians who make $90,000 or less and are not part of a dental plan will be able to receive dental care. Those are major investments supporting Canadians and affordability.

Other investments include removing the GST from psychotherapy and counselling. This is important for affordability for people who have challenges with their mental health.

We are going to crack down and make major changes to the Competition Act. This will ensure that we can bring prices down and ensure competition is strong in Canada, that no anti-competition happens. We need to do a major review of that area and make improvements, which is exactly what we will be doing as we move forward.

Another area I want to touch on is housing. We are focused on four areas. The first one is new, increased and continued investments in housing, which is important. There are going to be challenges with labour in the building sector, so we are going to make changes that would allow workers to move from province to province and territory to territory. We will prioritize workers for permanent residency in key areas of need, with construction being one and education being another.

The House resumed consideration of the motion that Bill C-59, An Act to implement certain provisions of the fall economic statement tabled in Parliament on November 21, 2023 and certain provisions of the budget tabled in Parliament on March 28, 2023, be read the second time and referred to a committee, and of the amendment.

[The Deputy Speaker, Conservative, Chris d'Entremont]

When we left this, the hon. member for Sackville—Preston—Chezzetcook had the floor, and the hon. member has four minutes remaining in debate.

The hon. member for Sackville—Preston—Chezzetcook has the floor.

[Darrell Samson, Liberal, Parliamentary Secretary to the Minister of Rural Economic Development and Minister responsible for the Atlantic Canada Opportunities Agency]

Mr. Speaker, I want to thank my Conservative colleagues who said that the information I shared about the strength and position of the Canadian economy was so great that they wanted me, like an encore in music, to come back and continue the show. I am very happy to be back here to share some of the news and information.

I was sharing that Canada's economy's position in the world is at the top. These are some of the facts the Conservatives need to share and to talk about. Canadians have created one million jobs since COVID and 1.4 million before. That is 2.4 million in total. The unemployment rate, when we came into power in 2015, was almost 7%. Today it is 5.7%, which is very impressive. Inflation, which was at 2% but because of COVID went to 8.1%, is now down to 3.4% and heading downward as we speak. We have a AAA rating once again, which shows Canada's strength.

Members should not believe me, but believe the facts. The International Monetary Fund said it is predicting this year that Canada will have the strongest economy in the G7. They said it; I did not say it. The OECD indicated a few months ago that Canada received the third most foreign direct investment in the world. They said it; I did not say it.

Because of our position, we are able to continue to support Canadians. Let us not forget that we have already lifted, since 2015, 2.3 million Canadians out of poverty. That is very important information. Canadians appreciate that work but know we have more work to do.

As I was sharing about the housing investments, there are four major components of course. The first one is the investments we are bringing forward in housing, which are crucial in ensuring that we are able to fill the demand because when we construct more houses, we have more labour needs.

Therefore, we have two approaches to labour. One is internal mobility, which means construction workers can move from province to province and territory to territory. We also have express entry for immigrants coming in to fill some of the jobs in the labour force with education in construction, etcetera.

The third piece of this is short-term rentals in provinces and territories where municipalities have prohibited short-term rentals. We will deny the income reduction, of course, on the building and construction of those. Finally, we will support more Canadians with the mortgages. Understanding that the interest rate is up and that there are many challenges Canadians are facing today, we will provide, if they want, tailor-made relief that will allow for a temporary extension of their mortgages and will waive some of the fees. Those who have qualified and want to change banks do not have to requalify, which is very important. Of course, the banks need to communicate with Canadians four to six months prior to the end of their mortgages.

[Alex Ruff, Conservative, Bruce—Grey—Owen Sound, ON]

Madam Speaker, on a point of order for me and for the member for Edmonton—Wetaskiwin, I have had my hand up since we were calculating the votes.

I know we are past the calculations now, but as I had technical difficulties, I would like to seek unanimous consent to cast my vote as a nay on the last vote.

[The Assistant Deputy Speaker, NDP, Carol Hughes]

Is it agreed?

[Some hon. members]

Agreed.

[The Assistant Deputy Speaker, NDP, Carol Hughes]

The hon. member for Edmonton—Wetaskiwin.