Finance

In question period on finance, Conservatives criticized the government’s economic update, saying the Prime Minister is borrowing roughly $25 billion for a new investment fund rather than building one from surpluses, and that the deficit has doubled from about $31 billion to $65 billion a year. They also raised a $37-billion increase in spending, rising debt projections, food price increases, and said Quebec was not consulted before a new trades training program was announced. Liberals replied that Canada has strong growth and fiscal standing in the G7, that spending on trades training for over 100,000 young people, major building projects, and help for workers affected by the trade war will grow the economy, that the IMF supports the plan, and that government operating costs are being reduced. They asked the opposition to support the plan.Written by AI from the debate. Updated .

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5 statements

Eric Lefebvre, Richmond—Arthabaska

Conservative
“The Prime Minister says he is creating a sovereign wealth fund, but he is borrowing $25 billion to do it. Real wealth funds are built from extra money, not borrowed money. The government is running a record deficit, and future generations will have to pay for it.”
Official Hansard

Mr. Speaker, the Prime Minister wants us to believe that he is creating a sovereign wealth fund. That is incorrect. A sovereign wealth fund is built with years of surpluses, budget surpluses and natural resource development. It is not built by charging $25 billion to Canadians’ collective credit card. The Liberals just ran up a record deficit, the biggest deficit outside of COVID-19. They are running up a record deficit without proving that they can manage public funds well. How can the Liberals use the credit card of future generations so shamelessly?

Eric Lefebvre, Richmond—Arthabaska

Conservative
“The Liberals are spending too much money instead of cutting costs, and they announced a job training program without even telling Quebec. They will add $321 billion in debt by 2031. I want to know why they are spending like this when Canadians are struggling.”
Official Hansard

Mr. Speaker, we are talking about workforce training, and yet Quebec was not even aware of this program before it was announced yesterday. A $37-billion increase in spending is not a cut. That is more spending. The Globe and Mail reported this morning that, in the upside-down land of the Liberals, a spending spree is a spending cut and blowing a windfall of billions of dollars is prudent. I hope members are sitting down, because I have some disappointing news. By 2031, the Liberals will have saddled our children and grandchildren with $321 billion in debt. How can the Liberals spend so recklessly when Canadians are struggling to make ends meet?

Dominique Vien, Bellechasse—Les Etchemins—Lévis

Conservative
“The Prime Minister is spending too much money and doubling the deficit. This makes life harder for Canadians. I want him to stop these costly budgets.”
  • A repeated line

    “When will the Prime Minister put an end to his costly budgets so that Canadians can make ends meet?”

    Said 3 times by 2 members since April 27.

    Every time it was said
Official Hansard

Mr. Speaker, the Liberals are carrying on with their decade of costly budgets, which, of course, are being charged to the credit card. This Prime Minister has doubled the deficit left by former Prime Minister Trudeau. Who would have thought? The Globe and Mail condemns this upside-down land where this government’s spending spree is considered prudent. The Liberals are spending more, but Canadians have less. When will the Prime Minister put an end to his costly budgets so that Canadians can make ends meet?

Dominique Vien, Bellechasse—Les Etchemins—Lévis

Conservative
“The Prime Minister borrows too much money. Economists warn that our national debt is getting dangerous. Canada has the worst food price increases in the G7. I want to know why the government keeps using policies that make gas, food, and housing more expensive.”
  • A repeated line

    “We have the worst food inflation in the G7.”

    Said 4 times by 3 members since April 23.

    Every time it was said
Official Hansard

Mr. Speaker, it is the way they have chosen to do it that is not right. The Prime Minister is following the same borrowing policies as his predecessor. Economists are sounding the alarm. Without measures to boost productivity, the weight of the debt relative to the economy will rise to a breaking point. We already have the worst food inflation in the G7. Why are the Liberals stubbornly following this path that is forcing Canadians to pay more for gas, groceries and housing?

Gabriel Hardy, Montmorency—Charlevoix

Conservative
“The government doubled the deficit in one year, from $31 billion to $65 billion. Canada now spends more on interest than on healthcare for all provinces. I want to know why the government keeps raising spending, taxes, and debt.”
  • Opposition question in Question Period

    Respect 81 of 100

    This statement targeted a person rather than their actions or views: “Under the former prime minister, a drama teacher”.

    See full analysis
Official Hansard

Mr. Speaker, the more things change, the more they stay the same. These same Liberals have doubled the deficit in a single year. Under the former prime minister, a drama teacher, the annual deficit stood at $31 billion. Today, with a Prime Minister who knows a thing or two about economics, the deficit has climbed to $65 billion. That means higher taxes, more credit card spending and more debt for Canadians. The annual interest payments alone are more than the total health transfers to all the provinces. Why is it that, with the Liberals, there is always more spending, more taxes and more risks being taken with taxpayers’ money?

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