Garnett Genuis

“Madam Speaker, that is the question I prepared to answer, not the member opposite’s suggestions. Although I do not discount good-faith suggestions and positive proposals that could be considered by the government at a later date, they are not what I was anticipating answering to tonight. Therefore, I will speak to the fact that our fiscally disciplined approach is helping to lower everyday costs for Canadians. Budget 2025 marked a tactical shift in the government’s management of public finances. That plan is focused on expanding federal capital spending to mobilize investment in the country while maintaining fiscal discipline. Our plan is built on a bedrock of fiscal responsibility not for its own sake, but to create the capacity to invest for the long-term future to ensure our economic strength and greater self-reliance. That is consistent with our approach and the approach in the spring economic update, which was also guided by the government’s two fiscal anchors. These are balancing operating spending with revenues by 2028-29 and maintaining a declining deficit-to-GDP ratio. Our plan is working. As recently announced by the Prime Minister, the government is on track to balance the operating budget in 2027-28, one year ahead of schedule. We are committed to the disciplined implementation of the efficiency measures in budget 2025. This includes a comprehensive expenditure review, which was proposed to save $60 billion over five years. That comprehensive expenditure review is also returning the size of the public service to a more sustainable level through early retirement incentives, workforce adjustments and attrition. With implementation well under way, the focus is now turning toward targeted, ongoing, horizontal reviews, beginning with efforts to rein in spending on external management and other consulting services. These challenging but necessary actions will continue to support our objective of spending less to invest more in Canadians. In budget 2025, we also outlined a capital budgeting framework. This framework has distinguished day-to-day operational spending from long-term investments that strengthen our economy. Importantly, this framework is designed to enhance, not replace, existing financial reporting. It also creates further transparency for all opposition parties and all parties in this House.”