Hon. Alice Wong, P.C.

On November 29, 2016, Alice Wong asked a question to the Minister of Finance and another Member of Parliament regarding the time allocation motion of Bill C-26, An Act to amend the Canada Pension Plan, the Canada Pension Plan Investment Board Act and the Income Tax Act.

The following is a transcript:

Hon. Alice Wong (Richmond Centre, CPC):
Madam Speaker, I have been in consultations across the nation with women entrepreneurs, young entrepreneurs, employees, and employers. What I found is that none of them are happy with the increase in CPP premiums.

The government says that it is good for seniors, but seniors now will not benefit from this new increase by even a cent. When I speak to seniors, they say that they do not even have a minister at the cabinet table fighting on their behalf. When I talk to seniors about how they are saving, they want the tax-free savings account. The current government has cut it down. Statistics show that it is the best way for seniors to save for a rainy day.

The job-killing CPP premium rate increase will kill jobs. Why is the minister killing jobs? Why is he doing so much damage to our seniors’ savings?

Hon. Bill Morneau:
Madam Speaker, I believe that a number of points in that comment should be addressed.

First of all, we have done research on Canadians’ actual situation and where they will find themselves in their future retirement. We know that by increasing the Canada pension plan through savings, we will be able to move from 25% to 33% of their earnings being covered by those savings, making an important difference to them in the future. We also know that over the long term, what this will do is actually enhance our economic outcome. Importantly, we know that 75% of Canadians are in support of this measure, because they recognize the challenge they have saving enough for retirement.

Finally and importantly, this is one measure among many that we are moving forward with for seniors. We have improved the guaranteed income supplement, which is helping single seniors who are in the most vulnerable positions. We have also improved the situation for Canadians in the middle class by ensuring that they are able to get old age security at age 65. These measures together are making a real and important difference today for seniors and they will make an important difference tomorrow as well.

…

Hon. Alice Wong (Richmond Centre, CPC):
Madam Speaker, I just heard what the member opposite said and would like to correct her in many ways.

I have been consulting entrepreneurs across the nation. I have been consulting seniors in my own riding and across this nation. I have been speaking and listening to seniors for at least five to six years. This is not what they are telling us.

There is a misconception or misinformation. The Liberal government is trying to say it is good for seniors. No, not a single senior would benefit from the CPP hike.

Then there are the young people. I have talked to and listened to young workers. They do not want this because, after 40 years, they want their own money so they can decide where to put it for the best investment.

The Liberals are not doing anything good for seniors, they are not doing anything for the youth, and they are killing jobs.

My question is, how can you treat our small business people like that?

The Assistant Deputy Speaker (Mrs. Carol Hughes):
I will remind the member to address the Chair and not use the word “you”. It will save a lot of headaches.

The hon. member for Davenport.

Ms. Julie Dzerowicz:
Madam Speaker, while seniors may not immediately benefit from this enhanced CPP, I will say that when I talk to seniors, they care about their grandkids, their children, and the future of their families. They love to hear about the Canada child benefit and that we are enhancing the Canada pension plan for their kids. They want their kids to be secure in their future retirements. It gives them great comfort to know that. Therefore, I know they see this as very positive.

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