Finance

During question period on finance, Conservatives said the government is spending too much, pointing to $90 billion in new spending in budget 2025 and over $55 billion a year in debt interest charges, which they said drive up interest rates, mortgage payments and food prices. They asked the government to cut spending, naming areas like consultants, foreign aid and asylum-related health costs. Liberals replied that Canada has the strongest debt position in the G7 and one of its fastest-growing economies according to the IMF, that the government is cutting spending while investing in the military and helping Canadians through a difficult global period, and they asked Conservatives which services they would cut instead.Written by AI from the debate. Updated .

Official text (opens in a new tab)

3 statements

Corey Hogan, Parliamentary Secretary to the Minister of Energy and Natural Resources

Liberal
“The world is facing tough economic times, but Canada has the lowest debt in the G7. We are spending money to protect Canadians. I want the member to say what services she would cut to lower our debt even more.”
Official Hansard

Mr. Speaker, Albertans know, of course, like all Canadians do, that we are in very uncertain times globally. The world is in a tumultuous place, but fortunately Canada enters this with the strongest debt situation in the G7. That is a fantastic place to be in when we are in difficult times. Now we are spending to make sure we are protecting Canadians from these dangerous headwinds. I would ask my colleague this: What are the cuts she would propose that would allow us to meet her objective of reducing what is already the lowest net debt and one of the lowest deficits in the G7?

Kody Blois, Parliamentary Secretary to the Prime Minister

Liberal
“Canada has low debt and strong economic growth compared to other major countries. We are cutting $40 billion in spending, but we are spending $60 billion on the military. Does the member really want us to cut funding for our soldiers?”
Official Hansard

Mr. Speaker, perhaps my colleague did not hear the Minister of Finance this morning highlight the fact that the International Monetary Fund has reaffirmed that Canada has the best debt position in the G7 and that we have the second-fastest growing economy in the G7. The member asked for the government to be able to make tough choices. Our comprehensive expenditure review is going to save the taxpayers of this country $40 billion, but some of the spending we are doing is about supporting the Canadian Armed Forces. Is the member suggesting we should not spend $60 billion to support our men and women in uniform? Is that the position of the Conservative Party?

Yasir Naqvi, Parliamentary Secretary to the Minister of International Trade and to the Secretary of State (International Development)

Liberal
“Times are tough in Canada and around the world. Our government is working hard to help Canadians, grow the economy, and find new trade partners.”
  • Government answer in Question Period

    Signal 0 of 100

    Much of this statement went to praise, blame, greetings, routine procedure or general stories rather than reasons, requests or specific points.

    See full analysis
  • Government answer in Question Period

    Clarity 33 of 100

    Much of this statement used imprecise wording, lacked details on timing or responsibility, or made broad claims without support.

    See full analysis
Official Hansard

Mr. Speaker, these are very serious times in our country, in fact globally. Canadians understand that we are living through a precarious time and that we have to work extremely hard to ensure that we build our economy and invest in Canadians so they are supported through these difficult times. Canadians deserve serious leadership, and that is precisely what the Prime Minister and the government are doing: We are investing in Canadians as a bridge to a better future tomorrow. That is the work we are doing, whether it is the work we are doing in diversifying our economy here in Canada and opening new countries as places to—

Discussion

No comments yet

See the full discussion

Comment rules

More from sitting 110

  1. Government Orders Strong and Free Elections Act 24 statements
  2. Oral Questions Finance 12 statements
  3. Oral Questions Natural Resources 6 statements
  4. Oral Questions Finance 6 statements
  5. Oral Questions Ethics 2 statements
  6. Oral Questions Public Services and Procurement 4 statements
  7. Oral Questions Labour 4 statements
  8. Oral Questions Immigration, Refugees and Citizenship 4 statements
  9. Oral Questions Health 4 statements
  10. Oral Questions International Trade 2 statements
  11. Oral Questions Taxation 2 statements
  12. Oral Questions International Trade 18 statements
  13. Oral Questions Foreign Affairs 2 statements
  14. Oral Questions Indigenous Affairs 2 statements
  15. Oral Questions Public Safety 2 statements
  16. Oral Questions The Environment 2 statements
  17. Oral Questions Steel and Aluminum Industry 5 statements
  18. Government Orders Strong and Free Elections Act 41 statements
  19. Oral Questions The Economy 2 statements
  20. Private Members' Business Jury Duty Appreciation Week Act 13 statements
  21. Oral Questions International Trade 4 statements