Tag Archives: Pensions

QP: Deception about deflation

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For the final Question Period of 2021—which was still undetermined as things got underway, as the House Leaders were engaged in a game of chicken—neither the prime minister nor his deputy were present, but the latter would appear virtually. Erin O’Toole led off, script in front of him, and he immediately started off with a lie about deflation, which did happen, and he was presuming it to be a good thing because it would lower prices, when in fact it would have led to a spiral that turned into a depression as businesses couldn’t service their debts. Chrystia Freeland, by video, called this out as misinformation, and noted that Stephen Poloz cited that the government’s actions averted a second Great Depression. O’Toole railed about Freeland’s alleged misinformation during the election campaign and compared her to Donald Trump, and Freeland called O’Toole the leader of flip-flops, and noted that in the election the Conservatives promised even more spending while they were currently railing against it, and that a consistent position might be nice. O’Toole repeated his first question in French, and Freeland repeated the Poloz comments in French. John Barlow got up and railed about the export ban on PEI potatoes and wondered why the agriculture minister was not currently in Washington resolving the situation. Freeland assured him the federal government was working to resolve if and noted she was next to the prime minister when he raised it with Biden, while Conservatives advocate capitulation. Barlow insisted that this has basically destroyed PEI, and Freeland dismissed this as scaremongering, and reassured farmers they were working on it like they did with previous disputes they won on.

Alain Therrien led for the Bloc, and blamed the Quebec teacher who was reassigned for wearing a hijab, railing that she knowingly broke the law and saying otherwise was Quebec bashing. Freeland calmly recited that they stand with Quebeckers who stand up for individual rights and freedoms. Therrien railed that mayors are funding court challenges, accusing them of not understanding secularism or democracy, and Freeland gave some fairly disarming reassurances that the federal government works well with Quebec and the Bloc shouldn’t pick fights.

Peter Julian rose for the Bloc, and in French, he worried that omicron could lead to lockdowns with no supports, to which Freeland made a pitch for MPs to pass Bill C-2 to provide necessary supports. Julian shouted the same question again in English, and Freeland repeated her response in the other official language. 

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QP: Competing scripted inflation talking points

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It was akin to Friday attendance in Chamber for everyone but the Conservatives, who were largely present, but the PM was in attendance, which is what counts on a Wednesday. Erin O’Toole led off, script before him, and he decried the cost of living crisis and accused the prime minister of fixing his budget by fuelling inflation. Justin Trudeau read a prepared script of good news talking points from the fiscal update. O’Toole tried and failed to land an attack about pipelines and supply chains, and this time, Trudeau extemporaneously recited the promise to have peoples’ backs. O’Toole raised the report on food inflation, and quipped about the prime minister not thinking about monetary policy, and Trudeau reiterated his usual points about the fact that they were helping Canadians and why investing up-front in ensuring people made it through the crisis was the smart economic thing to do. O’Toole switched to French to decry food inflation, and demanded the government fix it—not specifying how. (Wage and price controls, anyone?) Trudeau noted the health crisis and keeping people safe, which was how to help the economy recover. O’Toole worried the dream of home ownership has vanished, blaming Trudeau for it, and Trudeau praised programmes they have rolled out to help fight the housing crisis.

Yves-François Blanchet led for the Bloc, and he complained about Bob Rae’s comments about Bill 21 and demanded Rae be recalled. Trudeau said that he profoundly disagree with Bill 21, and they would be on the side of Quebeckers who were upset that the teacher lost her job for wearing a hijab. Blanchet railed that Trudeau was condoning “Quebec bashing,” and Trudeau said that Quebeckers like him stand up for individual rights including freedom conscience.

Jagmeet Singh rose for the NDP, and he demanded the federal government give more booster shots, rapid tests, and hiring more nurses—never mind that is all provincial jurisdiction. Trudeau recited concerns about omicron and warned Canadians should reconsider non-essential travel and getting boosters as quickly as possible. Singh repeated the demand in French, and Trudeau said they were already doing that having procured enough shots for all Canadians.

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QP: Ignoring the threats of a trade war

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In advance of the fall fiscal update, neither the PM nor the finance minister were absent, but so were all of the other leaders. Michell Rempel Garner led off for the Conservatives, and grumbled that the Americans want Saudi and Iranian oil over Canadian imports, for which Steven Guilbeault reminded her that the world of energy is changing, and that the future was in renewables, and that the record investments were happening in Alberta. Garner needled that she wanted Mary Ng to answer instead of a man to answer for her, for which Ng stood up and took exception to how the question was framed, before asserting that she always stands up for Canadian workers. Rempel Garner accused the government of being happy to offshore jobs to climate destroying countries, and this time François-Philippe Champagne stood up to praise their leadership in clean energy sectors. Gérard Deltell took over in French, and he worried about the American EV tax credit and stated that the government was doing nothing about it, to which Ng reminded him of their threat of retaliatory tariffs that they delivered to the US. Deltell again accused the government of doing nothing, and Ng listed how they have engaged with the US administration.

Alain Therrien rose for the Bloc, and complained that Trudeau was not currently interfering in the fight against Bill 21, and then demanded no interference in court challenges, for which David Lametti recited that nobody should lose their job for how they dress or their religion, and noted the were protests in Chelsea, Quebec, about the removal of a teacher. Therrien then railed that UN Ambassador Bob Rae said that Bill 21 defies the UN Declaration of Human Rights and wanted him recalled, for which Lametti simply asserted that they were monitoring the situation.

Jagmeet Singh suddenly appeared and complained about inflation and the GIS clawbacks, for which Kamal Khera read her talking points about supporting senior and working toward a solution on the clawbacks. Singh then to French to repeat the question, and this time Randy Boissonnault recited a litany of their support programmes.

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QP: A scattershot of unfocused sound and fury

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While both Justin Trudeau and Chrystia Freeland were in town and had press events earlier in the morning, neither were present for QP, but neither were any other leader. Candice Bergen led off, script on her mini-lectern, and she demanded a personal apology from Harjit Sajjan for not dealing with sexual misconduct in the Canadian Forces, and Anita Anand, fresh from giving the official apology, stated that said apology was one example of the steps they were taking to work toward a place where there was a safe workplace in the Forces. Bergen then pivoted to the planned CPP premium increase, declaring that it would kill small businesses. Randy Boissonnault shrugged that the Conservatives don’t like the CPP, and he praised it. Bergen accused the government of hating small businesses, and Boissonnault praised the strong economic recovery. Gérard Deltell took over in French to also worry about the CPP increases, and Boisonnault repeated praise for the CPP in French. Deltell specifically raised tourism and hospitality sectors, and demanded the government split Bill C-2 to immediately pass those supports, and Boissonault didn’t bite, and wanted support for the whole bill.

Alain Therrien led for the Bloc, and declared that Bill 21 was democratically passed, and declared that it doesn’t target anyone, to which David Lametti said that nobody should lose their job for wearing a hijab. Therrien demanded that the government declare it would not support court challenges, and Lametti said that there are currently court cases being fought in the province.

Peter Julian rose for the NDP, and in French, demanded an immediate solution to the clawbacks of GIS payments. Kamal Khera declared that they were working on it. Rachel Blaney took over in English to declare that seniors were homeless because of these clawbacks, and Khera read some good news talking points about supports for seniors before repeating that they were working on the clawback issue.

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QP: Demanding the inflation target

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With the prime minister virtually attending Biden’s “democracy summit,” and Chrystia Freeland absent, it was promising to be a rockier day in the Commons. Erin O’Toole led off, his script on his mini-lectern, and he brayed about inflation, housing prices, and coming interest rate hikes. Ahmed Hussen reminded him that they were the federal party that restored leadership to the housing file and he praised the National Housing Strategy. O’Toole raised the prospect of predicted food price hikes, and then pretended that Trudeau and Freeland were in the Chamber and not answer, and Randy Boissonnault, in his role as associate finance minster, reminded O’Toole about the Bank of Canada’s inflation target. O’Toole pretended that the prime minster ignored his responses about the Bank’s mandate and worried it would be changed, to which Boissonnault reminded him that the Bank is independent. O’Toole switched to French to misleadingly say that the Liberals planned to abandon the inflation targeting mandate, and Hussen repeated his first response, and called out the nonsense in the Conservatives’ supply day motion. O’Toole returned to braying about inflation in French, and Boissonnault repeated in French about the Bank’s mandate, before reciting some good news talking points.

Alain Therrien led for the Bloc, and he worried that the Auditor General showed that thirty percent of COVID tests were lost or mislabelled, for which Duclos said that he thanked the AG for her work, and said they would examine the results. Therrien worried about the stat that fourteen percent of those tested were never notified, but Duclos gave a bromide about working to prevent omicron.

Jagmeet Singh rose for the NDP, and after citing a report on growing inequality (I would be dubious of that given that the Canadian trajectory has not been the same as the US), and he demanded a tax on the super-wealthy, for which Boissonnault listed measures to help those in need. Singh repeated the question in French, and Boissonnault read measures in the Liberal platform about taxing banks and insurance companies.

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QP: Litigating the Kabul evacuation

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The Liberal benches were a little over two-thirds full, the opposition benches a little more full than that, and both Trudeau and his deputy were present (Freeland having previously being scheduled to only attend virtually but she was present in the flesh). Erin O’Toole led off, script on his mini-lectern, and he insisted that the government had two years to evacuate our interpreters and workers in Afghanistan, quoted a CSIS report, and railed at the government’s failure. Trudeau insisted that they stood by Afghanistan, and noted their commitment to resettle 40,000 Afghans. O’Toole noted that 1,215 Canadians left in Afghanistan when evacuation operations ended, and Trudeau praised the work to get as many Afghans and Canadians out of the country as possible in August. O’Toole read scoffing remarks from script, and complained that the election was called, while Trudeau reminded him of the speed at which things happened in Afghanistan before once again praising the work of officials on the ground at the time. O’Toole switched to French, and he repeated his first question on the alleged two-year timeline, and Trudeau repeated about the work to get people out, and work with the international community to resettle 40,000 Afghans. O’Toole then read the scripted scoffing remarks in French, and Trudeau repeated his same answer.

Yves-François Blanchet led for the Bloc, and he worried about a potential rule change that would see oil sands tailing ponds being dumped into the Athabasca River. Trudeau read a script about consultations on regulatory changes to ensure safeguards. Blanchet accused the government of being so much in the pockets of the oil and gas industry that it would cause the Conservatives an identity crisis, and a Trudeau read again that they were putting in strict water quality measures in the region.

Jagmeet Singh rose for the NDP, raised the coming fiscal update and the scourge of inflation, and then demanded the puzzling tools of immediate housing supply and lowering cellphone bills—a very curious notion that ignores the causes of this current bout of inflation. Trudeau read a script about what they planned to talk about in the fiscal update. Singh repeated the question in French, and got the French version of the same script.

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QP: From solemn moment to clown show

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Following every party’s statements and a moment of silence for the anniversary of the massacre at École Polytechnique, things got underway in earnest. While the prime minister was absent, Chrystia Freeland was present. Candice Bergen led off, script on her mini-lectern, and she asked for an update on the government’s programmes to combat violence against women. Freeland highlighted the importance of the day, and spoke about the “unprecedented” investments in the budget, and then called on all women in the a House to rise for a moment to remember those women. Bergen then pivoted to the topic of inflation and wanted to know what was happening with the Bank of Canada’s inflation target, and Freeland assured her the decision was coming in due course. Bergen was not satisfied, and demanded action on rising prices—though she did not call for price controls. Freeland assured her that they understand the difference between fiscal and monetary policy, and have confidence in the Bank, and that they don’t disparage them like the Conservatives do. Alain Rayes took over in French, and demanded a “concrete plan” to tackle inflation. (Like price controls?) Freeland listed off global inflation figures in response. Rayes repeated his demand for a “concrete plan,” and Freeland responded with praise for the GDP growth and job numbers.

Claude DeBellefeuille also raised the anniversary of École Polytechnique and the current spate of gun violence in Montreal and demanded tougher gun control. Marco Mendicino assured her the are working together with different governments to ensure that everyone can live safely. DeBellefeuille accused the federal government of doing nothing, and Mendicino repeated his assurances and brought up his meetings last week with gun control advocates.

Alexandre Boulerice rose for the NDP, and he raised the scourge of opioid deaths, and demanded decriminalisation of simple possession of drugs. Jean-Yves Duclos noted that they are working at several levels around things like safe supply and support for users, with more to be announced shortly. Gord Johns repeated the demand in English, and Carolyn Bennett repeated Duclos’ answer in English.

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QP: What is your inflation position today?

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Even though the prime minister was in town, he was not in Question Period, but his deputy was, so that was something. Erin O’Toole led off, script on his mini-lectern, and he worried about the news that the coming fiscal update would only have “limited information,” and worrying about them covering up spending. Chrystia Freeland stood up and recited O’Toole’s floundering position on whether inflation is a global problem or not. O’Toole retorted that she was the only politician to have been flagged on Twitter for misleading information, and demanded that she tell the Bank of Canada to get inflation under control. Freeland chided O’Toole for not realising that monetary policy is the role of the Bank, which is arm’s length from government. O’Toole started sputtering about small businesses suffering from inflation, and Freeland reminded him that their campaign documents promised even more government spending in the current fiscal year, and wondered what their position was today. O’Toole demanded to know then a budget would be balanced, and Freeland recited the Economist’s top-ten list of most expensive cities to live in, and noted that none were in Canada. O’Toole then switched to French to say that Quebeckers were tired of living paycheque to paycheque. Freeland repeated the same Economist list in response.

Alain Therrien led for the Bloc, and he worried that the prime minister didn’t raise softwood tariff while in Washington, and Freeland stated that while she could not match Therrien’s ability to play on words, but the file was important and they were continuing to defend the sector’s interest like they did for aluminium. Simon-Pierre Savard-Tremblay demanded that the government insist on separate treatment for Quebec because their forestry rules are different, while Freeland assured him that they were defending sector.

Jagmeet Singh rose for the NDP, and he worried that the COVID rules were too confusing for travellers. Freeland said that they agreed that the fight against COVID was the most important issue for the country and vaccination was the way out, but noted that the current rules are a circuit-breaker to buy them time. Singh repeated the question in French, and repeated her response.

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QP: A rose-coloured paean to the Harper era

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There were a few more absences in the benches, but the leaders were all present, so that was something. Erin O’Toole led off, script on mini-lectern, and he loudly worried about the real housing crisis, and somehow blamed it on government spending. Justin Trudeau assured him that housing was a priority for the government, and that they would work with partners to get more housing built, while listing some of their proposed measures. O’Toole was unconvinced, and continued the specious correlation between government spending and housing prices, and Trudeau reminded him that the Conservatives plan would have raised prices further. O’Toole gave a rose-coloured revisionist paean to the halcyon days of Stephen Harper, and Trudeau batted it away. O’Toole switched to French to lament that the government wasn’t helping Canadians, and Trudeau repeated his assurances that they are there for Canadians and the way to get out of the economic situation is to end the pandemic. O’Toole then raised the labour shortage, accusing the government of doing nothing, and Trudeau listed measures the government is taking such as higher immigration targets and more money for training.

Yves-François Blanchet led for the Bloc, and raised the situation of French-speaking students from Africa being unable to get student visas to Quebec, and Trudeau assured him it was a problem and they were conducting a systemic review of the situation. Blanchet insisted that was meaningless, and wondered if the government was admitting it was racist, and Trudeau said that unlike the Bloc, they recognised that systemic racism exists and once identified they are working to eliminate it.

Jagmeet Singh rose for the NDP, and demanded Canadian support to ensure that other countries can make vaccines in their own country, and Trudeau listed Canada’s leadership actions, including COVAX and working at the WTO to address the various restrictions, beyond just patents. Singh switched to French to repeat the question, and Trudeau chided Singh for using “literally” when he meant metaphorically, before repeated his answer in French.

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Roundup: Repurposed talking points with an inflation bow on top

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The Conservatives’ finance critic, Pierre Poilievre, was up to his usual bullshit over the weekend and held a press conference to demand that the government maintain the Bank of Canada’s inflation targeting regime – which was almost certain to happen anyway – but along the way, his line of reasoning became utterly absurd.

For one, Poilievre refuses to acknowledge the facts on the ground about what is driving the current bout of inflationary pressure – instead, it’s a lot of talk about the Bank printing money to finance government debt, which isn’t quite true. Quantitative easing isn’t actually “printing money” – and the Bank has an explainer on their website – and by buying government bonds when they did, they were able to keep interest rates low, rather than requiring them to drive up at a time when there were a lot of governments issuing bonds, as those higher rates could have hurt the economy (or by not issuing the bonds, the government wouldn’t be able to pay for the pandemic benefits people needed, and we would have had other problems instead). Meanwhile, his proposed solutions won’t actually deal with the current bout of transitory inflationary pressures – approving more energy projects will take years to come online, cutting taxes and “red tape” won’t necessarily improve productivity, and his “payroll taxes” are things like CPP and EI, which aren’t taxes, and again, won’t actually do anything about world energy prices or supply chain bottlenecks. Most of his demands are just the same Conservative talking points, repurposed with an inflation bow on top.

https://twitter.com/MikePMoffatt/status/1459645990076653572

https://twitter.com/MikePMoffatt/status/1459670088970391559

And this is the thing – all of the signs are pointing to the fact that while the 4.4 percent headline number sounds scary at first, if we look at where we are trend-wise, we’re not over the target range by much, and we also have to remember that interest rates can be a pretty blunt instrument, and raising them too quickly to tackle inflation that is transitory in nature could have bigger consequences in the economy, and weaken the recovery. Not that these guys pay attention to the counter-factuals, or the facts at all. No, it’s a bunch of talking points that are at least twenty years out of date, if not more, but the problem is that people believe it. (The inflation truthers in my reply column are the worst). And I’m not sure that this government has the rhetorical ability to counter any of it with their happy-clappy pabulum talking points, and that is a problem.

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