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Ryan Turnbull

Liberal on Finance 2026-11-03

Replying to Adam Chambers (Conservative)

“Mr. Speaker, a former governor of the Bank of Canada, David Dodge, has a simple rule: The government should be wary when it spends more than 10% of its revenue on debt service costs. The Parliamentary Budget Officer says that figure will grow to nearly 14% in just a few years, and in fact, debt service payments are the fastest-growing line item in the budget. Does the government want this to be the fastest-growing line item in the budget? The Liberals’ actions suggest they do not even care.”

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Mr. Speaker, Canada has the strongest fiscal position in the G7 and a AAA credit rating, which keeps our debt service costs low relative to our peers. The Bank of Canada governor confirmed in the finance committee today that it is not just how much governments spend but what, specifically, they invest in. Let us look at our track record. What are we investing in? We are investing in increasing the productive capacity in our economy. We are investing in affordability measures for Canadians. We are asserting our sovereignty. We are assuring that we have self-reliance and independence for the future. Our budget 2026 is called “Masters of our Destiny” for good reason.