“People need help with costs right now, but this bill costs over $5 billion. Oil and gas companies are making record profits. I want to know how much profit these companies have to make before the government puts an extra tax on them, instead of putting this cost on everyday people.”

“Madam Speaker, New Democrats support relief for people right now. They are struggling to make ends meet. This bill alone would cost over $5 billion. I will remind the House that oil and gas companies are posting record profits. We have never had more profits than right now in the oil and gas sector. Conservatives in Britain have even brought in an excess profit tax, but we cannot get Liberals here in Canada to even consider it. I would ask the Minister of Finance the following. Is there a number? Is there a threshold? Is there an amount of profits? Is it $200 billion? Is it $300 billion? What is the number before the Liberals bring in an excess profit tax? This amounts to corporate welfare. That is exactly what is happening here. This bill should not be on the backs of everyday people.”

• Echo ×13

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  “People are struggling to make ends meet.”

  Said 13 times by 10 members since April 27.

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“This bill will add to the public debt, and taxpayers will pay for it. Oil and gas companies are making huge profits while costs do not go up. Instead of this bill, we should put an extra tax on their profits to help people.”

“Madam Speaker, a report from the Centre for Future Work is predicting that we are going to see an additional $50 billion in consumer costs, or a 4.2% increase in inflation. That is if the Strait of Hormuz closed today. We have not seen an increase of even one cent on the production of oil and gas, yet oil and gas profits are skyrocketing. At the same time, the Centre for Future Work is predicting that we are going to see a $65-billion-plus increase in excess profits. What this bill would do is actually increase the debt. Canadian taxpayers pick up the tab anyway. We want them to get relief right now. Does my colleague agree that an excess profit tax would help alleviate the pressure on the Canadian taxpayer and that oil and gas, when they are winning big like this, should contribute more? We heard the Conservatives even say that the Liberals have taken their agenda and are implementing their agenda. We know that Conservatives in Britain implemented an excess profit tax on oil and gas, but these Liberals will never do it. We are seeing record profits. There is no threshold of profits before they implement an excess profit tax.”