Discussion · Government Orders
Ryan Turnbull Liberal
“The cost to pay our debt is going up because of interest rates, not government choices. The Conservative plan to cut spending would stop our economy from growing during tough times. Instead, we need to invest in things that bring in money. That will grow our economy, help Canadians live better, and bring in the cash to pay down the debt.”
“Madam Speaker, we know that debt servicing charges are rising, but that is not because of the Government of Canada. It is because of long-term bond rates that determine the interest rates the Canadian government will have to pay. We recognize that those debt servicing charges are going up, but what is the solution in that environment when Canada is facing a trade war and facing all these economic shocks? The Conservatives would dial it all back so that we would have no growth in the economy. That is not the solution. The solution is to invest strategically in an economy that becomes more productive and is able to generate revenue, which is exactly why we have launched the capital budgeting framework. We are focused on revenue-generating assets and investing strategically in the Canadian economy so we have growth and productivity gains, so Canadians have a better standard of living in the future, and eventually, as those revenues come in, so we can pay down the debt and deficit, which is what we all want to see.”
Madam Speaker, we know that debt servicing charges are rising, but that is not because of the Government of Canada. It is because of long-term bond rates that determine the interest rates the Canadian government will have to pay. We recognize that those debt servicing charges are going up, but what is the solution in that environment when Canada is facing a trade war and facing all these economic shocks? The Conservatives would dial it all back so that we would have no growth in the economy. That is not the solution. The solution is to invest strategically in an economy that becomes more productive and is able to generate revenue, which is exactly why we have launched the capital budgeting framework. We are focused on revenue-generating assets and investing strategically in the Canadian economy so we have growth and productivity gains, so Canadians have a better standard of living in the future, and eventually, as those revenues come in, so we can pay down the debt and deficit, which is what we all want to see.