Link: Angry Trust investors confront Flaherty >(Canadian Press)
Question Period was a regular battlefield today. On one side the opposition attacked and clapped on its steely warriors, while on the other the government repelled and cheered its loyal defenders. In the middle, as usual, were the people, who know things are neither black nor white.
The media gallery was full, waiting for blood to splatter all over the green carpet, but from where I was sitting, I could not see any direct hits. The environment was the big topic, and new enviro minister John Baird got to yell a lot. I think he liked it.
But the Speaker also squeaked me in, and my topic was the government flip-flop on income trusts, which had brought my guests (below) to these stone buildings to press their point. I asked a question on their behalf, and received a snarky answer – about what I expected. Jim Flaherty dismissed me because, as he claimed, I had voted in favour of taxing income trusts. Of course, it was Mr. Flaherty who bundled his trust tax together with the issue I’d fought months for – pension-splitting. And now we all know why he did that, right? I doubt he can be half so cute when the final enabling legislation hits the House!
Meanwhile this is all more evidence of why you should not let your babies grow up to be politicians.
Anyway, here we go. To view the video, click here.
8 comments ↓
Sound like the usual Question Period Non-answer. It’s about time that room was cleaned up and serious question started getting serious answers. They think this is a game they are playing and they seem to have forgotten about accountability to their constituents. Keep up the good work Garth and Thanks.
RE; John Baird…I caught QP. He may be right that SD achieved nothing as environment minister. However, his rewritting of history won’t be forgot…the only reason the Consrvatives now are dealing with GHG’s is because the NDP, Bloc and Liberals told them their Clean Air Act was a piece of garbage..but to make parliament work they, not the Conservatives, would rewrite it!
Of course Mr. Baird will take the credit at the next election.
The only GHG’s in the house today came from the Government.
Garth:
I said it before that this Income Trust & Pension Splitting “bundle” was silly. Both should have been voted on separately in the House. It’s too bad Mr. Flaherty just couldn’t answer your question.
I can’t imagine all of the hot air (GHG’s) that will be emitted by Mr. Baird as he dodges every question he will be asked! We’ll need a climate plan for his hot air alone.
I hope all the political parties don’t keep letting the Conservative Government talk about the past “Liberal record,” as the new Conservative Government now has a record of their own they need to defend. Let the show begin.. it’s Question Period time (and hopefully with and answer or two).
I appreciate your good work, Garth, and for keeping us informed! Cheers.
Well Garth, way back in late December and early January I truly thought the Income Trust issue was a non-starter with you. Thanks for proving me wrong! What you have done these past few days is first rate. Hopefully you are beginning to see too that Income Trusts have a powerful place in the capital structure of Canadian business, and in themselves will contribute far more to the Canadian tax system than capital gains and dividends ever could. As relates to energy trusts, oil companies are simply exploiting a commodity, but retain values from the shareholder for literally decades. The largest of the trusts on the other hand, Canadian Oil Sands Trust, is an excellent example of how the income trust model truly works for the unitholders and the Canadian tax system. Literally every unitholder pays income taxes on a current basis well above the average paid by taxpayers generally. I am certain each and every one of them would like a reduced personal tax rate if that were in the cards. In the meantime (at least prior to the Halloween Massacre), they were happy to pay their share, in exchange for the meaningful cash flows generated. I hope you have taken the time to read and digest my emails to you wherein I detailed the substantial taxes that three executives of two the largest oil companies are able to avoid by virtue of the companys not being income trusts. Specifically Encana and Canadian Natural Resources Limited. Anyway Garth, kudos to you for adding your voice to the outrage felt by so many investors back on October 31st. Flaherty will have difficulty being quite so flippent with the Finance Committee members.
Too bad you coloured outside the lines today and got called on it Garth.
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MP’s are not allowed to draw attention to those in the Gallery. That’s the Speaker’s job, but thanks for putting yourself out there and letting regular Canadians know that there are regular Canadians in the Gallery who deserve to be recognized (not just foreign sight-seers, site-surveyors, or investors
Keep on being strong.
Hope you and your constituent got the face-to-face that was promised by Flaherty.
Many many people of a certain age have been smote by Harper and his Holies. Thank you for trying to put a face on those not in the Harper loop.
Hi Garth, Why do governments spend great amounts of money on things like a clean air act and not start with the no brainers first of all. Cruise ships routinly dump raw sewage into the inside passage and there is nothing illegal about it. If the cruse ship was o due this in Alaska or Washington state the cruise line would be fined 100K if caught. All the cruise ships due now is save their crap and when in Canadian waters dump it is disproportional amounts in our waters. Why can a government not impose fines that match the US states fines to try to stop it or at least get less of it. This is a transport Canada jurisdiction and not a provincial matter so it is up to the federal government and their enviornmental plan to ry to stop it. Regards
Thank you Mr Garth for today’s event in Ottawa. And bravo to all those people there with you!
Let’s hope that it will make THE difference. I have lost quite a bit too of my retirement savings…and have no pension plan. Existing income trusts should have been all grandfathered. Point a la ligne.
If corporations only pay 6,3% taxes…I pay over 36% on revenue from my income trusts!!!
Simone
A dear friend of mine sent me your website and also the press conference from yesterday. That spoke volumes to me and I am so proud that you are taking the time to work so very hard to represent the 1,000’s of Canadians who have had and still have bleeding portfolios. We know that us baby boomers constitute a large part of the population, that rely solely on income from their investments to pay their bills and survive what might become old age far beyond their own expectations. Our Govt. is playing roulette with our money, leaving us to wonder how we will.