Finance

Question period focused on federal finances and upcoming budget decisions. Conservative members said Liberal spending has driven up debt and interest costs, citing $55.6 billion a year in interest — more than the cost of the Canada health transfer — and said the government should cut spending in next week’s budget update. Liberal ministers responded that Canada has the strongest fiscal position in the G7 and repeatedly asked Conservatives to name which specific programs they would cut, listing dental care, school food, the child benefit and other supports. No new ground was settled; the exchange stayed on that question of where cuts would come from.Written by AI from the debate. Updated .

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4 statements

Jason Groleau, Beauce

Conservative
“Liberal overspending is driving up interest rates. Canadians will pay $55.6 billion in interest this year alone. I want the Prime Minister to end these deficits in next week's budget update.”
Official Hansard

Mr. Speaker, a buddy is a buddy. The Liberals’ inflationary deficits are costing Canadians dearly. Canadians will pay $55.6 billion in interest this year alone to the Prime Minister’s banker buddies. That $55.6 billion even exceeds the cost of the Canada health transfer. The Bank of Canada has been clear that the high interest rates are a direct result of the Liberal debt. The fiscal update is next week. Will the Prime Minister put an end to the Liberals’ inflationary deficit, yes or no?

Luc Berthold, Mégantic—L'Érable—Lotbinière

Conservative
“The Prime Minister is spending too much money. Canada now pays $55.6 billion a year just in interest on the debt, which costs every family $3,300. That money should go to health care and families instead. I want to know if the Prime Minister will cut spending next week.”
Official Hansard

Mr. Speaker, the Liberals have already cribbed many of our ideas. The Liberal Prime Minister has completely lost control of public finances. He has added $90 billion in new spending. We are paying $55.6 billion a year just in interest on the debt. That is more than what the GST brings in. It is more than health care transfers. What this means for the public is that money is not going to patients or families. Every family is already paying $3,300 a year just in interest. Next week, during the fiscal update, will the Prime Minister change course, or will he doom Canadians to pay even more for his Liberal spending?

Luc Berthold, Mégantic—L'Érable—Lotbinière

Conservative
“The government is spending too much money, which causes higher debt, inflation, and interest rates. I want the government to get its spending under control to help families.”
Official Hansard

Mr. Speaker, there is 90 billion dollars’ worth of new spending. The list is too long to read in 30 seconds. The Liberal Prime Minister can say everything is fine, as he did on March 25, but he is living in a fantasy world. Federal spending is at its highest level since 1996. Two-thirds of new spending is not even being used to invest, but rather to keep the Liberal government machine running. The result is higher debt, higher inflation and higher interest rates. That is what the Bank of Canada says. Every dollar wasted means a dollar less in Canadians’ pockets. When will the Liberal government finally get its spending under control and give families some breathing room?

Bernard Généreux, Côte-du-Sud—Rivière-du-Loup—Kataskomiq—Témiscouata

Conservative
“The government is spending too much money and adding to the debt. Interest on this debt costs every family over $3,300 a year. I want the government to cut its spending.”
Official Hansard

Mr. Speaker, it seems that many people do not realize that it is easy to announce one program after another, but, at the end of the day, it all goes on the government’s credit card, with no real limit. However, there is, in fact, a limit. An unpaid credit card balance at the end of the month means interest charges. It always means more spending and more deficits. The interest charges amount to over $3,300 a year for every family. When will the Liberals finally get their spending under control and cut it back so that Canadians can make ends meet?

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