Opening remarks for the Deputy Prime Minister to the Standing Senate Committee on National Finance – Bill C-30

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Thank you Mr. Chair, and thank you, honourable Senators who are here today, for this invitation to speak with you about Bill C-30.

The pandemic has been a difficult and challenging time for Canadians. Our government, led by this parliament, has done whatever it takes to help people and businesses get through to the other side. We hope to continue to do that with your support.

I want to acknowledge the extraordinary attention you have given to your study of this legislation – in this committee, but also the five other Senate committees that have engaged in this important work. Thank you so much.

We have done whatever it takes to protect the health and safety of Canadians, to help businesses weather the storm, and to position Canada for a strong recovery. 

The battle is not over yet, but there is light at the end of the tunnel.

Over 20 million Canadians, including 60 per cent of adults, have now received at least one dose of COVID-19 vaccine and millions of doses of the approved vaccines continue to be delivered to provinces and territories every week.

Canada will get through this, and the government will be there to help.

Senators, this budget is about jobs, growth, and recovery. It's about helping Canadians and Canadian businesses heal the wounds of COVID, and it's about helping our economy come roaring back. 

Bill C-30 is the next, vital step forward on this journey.

We know that the first thing we need to do is finish the fight against COVID.

That's why Bill C-30 provides an emergency top-up of $5 billion to provinces and territories; $4 billion through the Canada Health Transfer to help provincial and territorial governments address immediate health care system pressures; and another $1 billion to support vaccine rollout, which is so essential, across the country.

Next, we also need to punch our way out of the COVID recession. That means acknowledging that the impacts of COVID have been uneven. Women, young people, racialized Canadians, low-wage workers, and our country's small businesses have been particularly hard hit.

We need to support them with investments. One set of investment is in social infrastructure.

That is why this Budget proposes a historic investment of $30 billion over five years, beginning with more than $2.9 billion this year, to provide high-quality, affordable, and accessible early learning and child care.

By making this commitment, I would like to thank the feminists of Quebec who led the way for the rest of Canada. I am very grateful to them.

Young Canadians must be at the heart of our recovery – not just to help them individually bounce back from the COVID recession, but because the future success of our youth is critical to our success as a country.

This budget will ensure so that no one earning $40,000 per year or less will need to make any repayments on their student loans. And the cap on monthly student loan payments will be reduced from 20 per cent of household income to 10 per cent.

The Budget also proposes measures to make it easier for young Canadians to enter the workforce.

And it would also help small businesses that have been hit pretty hard by the pandemic.

Bill C-30 proposes to establish the new Canada Recovery Hiring Program.

This program would support employers who continue to experience revenue declines from the pre-pandemic period by helping them with the costs of hiring workers.

Furthermore, Bill C-30 would extend the Canada Emergency Wage Subsidy, the Canada Emergency Rent Subsidy and the Lockdown Support until September 25.

This would protect millions of jobs across the county.

C-30 also proposes to improve the access that small businesses have to financing, broadening eligibility and increasing loan limits.

I am sure we can agree that no one working full-time in Canada should live in poverty.

But unfortunately, today, that is too often the case.

Bill C-30 would mitigate this by extending support through the Canada Workers Benefit to about a million more low-wage workers. That would lift nearly 100,000 Canadians out of poverty.

And to further support workers, Bill C-30 would introduce a federal minimum wage of $15 per hour.

Across the country, 83 per cent of the jobs lost during the pandemic have been recovered. While this is good progress, we all know there is much more work to do.

This is why Bill C-30 would help people who are still unable to work due to COVID, by providing up to 12 additional weeks of benefit through the Canada Recovery Benefit, and 4 additional weeks for the Canada Recovery Caregiving Benefit.

This legislation would also maintain flexible access to EI benefits over the coming year and extend EI sickness benefits from 15 to 26 weeks permanently.

As I mentioned at the beginning, you have studied this legislation exhaustively and in great detail. It is my sincere hope that you will receive this legislation from the other place in a timely fashion, so that you can continue your work.

Mr. Chair, it's time to finish the fight against COVID-19. It's also time to invest in a better, fairer, and more equitable Canada.

This is what Budget 2021 and Bill C-30 are all about: a plan for jobs, growth, and the middle class. A plan built around helping Canadians recover, succeed, and thrive.

I'm grateful to all senators for the consideration and study of this legislation and I will be happy to answer the questions you may have about the Bill.

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