Finance

Question period on finance focused on the government’s spring fiscal update and budget. Conservative members argued the government is spending and borrowing too much, citing figures like added household debt, a federal debt reaching $1.4 trillion, rising interest costs, planned EI premium increases, and slow action on the U.S. tariff dispute, and called for spending cuts. Government members replied that Canada has the lowest debt-to-GDP ratio in the G7 and a deficit reduced by $11 billion, and pointed to investments in trades training, infrastructure, major resource projects, and reduced CPP deductions as making life more affordable.Written by AI from the debate. Updated .

Official text (opens in a new tab)

10 statements

Raquel Dancho, Kildonan—St. Paul

Conservative
“The government plans to keep spending more money than it has. This makes life more expensive for Canadians. I want the Prime Minister to cut spending so people can afford to live.”
Official Hansard

Mr. Speaker, I will share a quote: “In the upside-down land of Liberals, a spending spree is a spending cut, blowing a windfall of billions of dollars is prudent and failing to prepare for a fiscal storm is, well, just good [fiscal] management.” That is the scathing review from the Globe and Mail editorial board, because yesterday the Liberals promised Canadians that they would continue their decade of massive deficit spending, which means a rising cost of living for Canadians will also continue, with no end in sight. When will the Liberal Prime Minister finally show some responsibility and some fiscal restraint so Canadians can afford to live?

Raquel Dancho, Kildonan—St. Paul

Conservative
“The government is not acting fast enough to solve the tariff dispute with the United States, which is costing factory jobs. They also need to cut red tape and stop running big deficits so Canadian businesses and workers can survive.”
Official Hansard

Mr. Speaker, the Liberals can dress this up however they like, but there is a glaring omission in the fiscal update, which is urgency. They have no urgency in resolving the U.S. tariff dispute, which is costing thousands of Canadian manufacturing jobs. What is worse, according to the Financial Times, “Canada’s leading industry groups say [the Prime Minister’s] effort to cut red tape is floundering, costing the country billions more in trade losses than...Donald Trump’s tariffs.” Liberals have no urgency to resolve that issue either, despite it being 100% in their control. Rather than massive deficits, why do they not cut red tape so our workers and industries can survive?

Dan Albas, Okanagan Lake West—South Kelowna

Conservative
“The government's new budget adds about $3,400 of debt for every household. It doubles the deficit and raises costs instead of bringing the change they promised. I want to know which of their promises was false.”
  • A repeated line

    “This costly credit card budget means more debt.”

    Said 8 times by 7 members since April 29.

    Every time it was said
Official Hansard

Mr. Speaker, Canadians were promised change after a decade of a costly Liberal government under Justin Trudeau. Yesterday, they did not get change; they got more of the same. The Liberals are asking every Canadian household to shoulder roughly $3,400 of new debt from a Prime Minister who said he would be different. This costly credit card budget delivers more debt, more costs and more taxes, and it is doubling the deficit while life gets more expensive. Which promise was false, the promise of change, or the claim that doubling the deficit would somehow make Canadians better off?

Dan Albas, Okanagan Lake West—South Kelowna

Conservative
“The government is spending too much money instead of cutting costs. It is doubling the deficit and spending almost all of its new revenue. I want the government to admit its budget proves it has not changed.”
Official Hansard

Mr. Speaker, the only thing the government delivers is more recycled talking points. Even The Globe and Mail says that, in this upside-down Liberal world, a spending increase of $26.8 billion is not a spending cut. For every $100 in new revenue, the government spends 97% of it. Will the government admit this costly credit card budget proves nothing has changed, or are Canadians now supposed to believe that doubling the deficit is fiscal responsibility?

Garnett Genuis, Sherwood Park—Fort Saskatchewan

Conservative
“Unemployment is high, especially for young people. The government wants to raise employment insurance premiums, which is a tax on jobs. This will make it harder for businesses to hire people. Why is the government raising taxes on jobs to pay for its spending?”
Official Hansard

Mr. Speaker, those apprentices desperately need projects to go forward that they can work on. Canada faces an unemployment crisis, most severe among youth, yet this Liberal costly credit card budget plans further increases to EI premiums. Increasing the tax on jobs now would make it harder for businesses to create jobs and would make the jobs crisis even worse. Why are the Liberals paying for their costly credit card budget with further tax increases on jobs?

Garnett Genuis, Sherwood Park—Fort Saskatchewan

Conservative
“The government's plan raises taxes on jobs when young people are already struggling to find work. It hurts small businesses, workers, and students in vocational schools. When will the government stop this?”
Official Hansard

Mr. Speaker, I am not at all surprised to hear that the minister spends a lot of time talking to CEOs. However, on page 122 of the Liberals’ fiscal update, it is clear that they would increase the tax on jobs, at a time when we already have a massive youth unemployment crisis. This credit card budget proposes to squeeze small businesses and workers even more, at the same time as these Liberals are voting against allowing student grants to go to those at vocational institutions. They are attacking young people and attacking jobs. When will it end?

Mike Lake, Leduc—Wetaskiwin

Conservative
“In 2015, Canada's federal debt was $616 billion. This year it will reach $1.4 trillion under the Liberals. I want someone in the government to stop this spending.”
Official Hansard

Mr. Speaker, in 2015, Canada had a balanced budget and the richest middle class in the world. Coming out of a global economic meltdown, Canada’s federal debt stood at $616 billion. Yesterday, we found out that after a decade of Liberal economic experiments funded on the national credit card, our debt this fiscal year will hit $1.4 trillion. The Liberals are trading away Canadians’ future prosperity to fund this tiresome daily Liberal QP routine of riffing off ever-increasing lists of things they are charging to the national credit card. Is there someone over there with the courage to stand up and say, “enough is enough”?

Mike Lake, Leduc—Wetaskiwin

Conservative
“The government borrows too much money. It now spends more on interest than on health care. By 2030, all of its deficit will go toward paying interest on its new debt. I want to know when the government will stop this borrowing.”
  • Opposition question in Question Period

    Signal 43 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
Official Hansard

Mr. Speaker, in a mythical Liberal world, budgets balance themselves. In the current Prime Minister’s theoretical world, the national credit card has no limit and the bill never comes due, but we live in the real world, where the Liberal government’s addiction to borrowing has real consequences. This Prime Minister is now spending more on interest than on the Canada health transfer. According to his own economic update, and this is quite astonishing, in 2030, the entire deficit would go to paying interest on debt that the Liberals have added since being elected. In this new world, Liberal debt becomes self-generating. When will this experiment end?

Glen Motz, Medicine Hat—Cardston—Warner

Conservative
“This budget is still bad, no matter how the government tries to make it look good.”
Official Hansard

Mr. Speaker, no matter how much lipstick they put on this budget, a pig is still a pig. Liberals’ costly credit— Some hon. members: Oh, oh!

Glen Motz, Medicine Hat—Cardston—Warner

Conservative
“The government's budget adds too much debt, spending, and taxes, which makes life unaffordable. I want the Prime Minister to cut spending and get the deficit under control.”
Official Hansard

Mr. Speaker, the Liberals’ costly credit card budget is more of the same: more debt, more spending, more taxes and higher inflation. The Prime Minister has doubled previous annual deficits. He had still added $54 billion in new spending, costing Canadians now $59 billion in debt interest charges to cover it. His $25-billion sovereign debt fund is just another deception. When will the Prime Minister set aside his illusions and bring his deficit under control so Canadians can afford to live?

Discussion

No comments yet

See the full discussion

Comment rules

More from sitting 113

  1. Oral Questions Finance 12 statements
  2. Oral Questions International Trade 5 statements
  3. Oral Questions Finance 14 statements
  4. Oral Questions Labour 4 statements
  5. Oral Questions Finance 10 statements
  6. Oral Questions Infrastructure 3 statements
  7. Oral Questions Finance 19 statements
  8. Oral Questions The Economy 2 statements
  9. Oral Questions Finance 7 statements
  10. Oral Questions Indigenous Affairs 2 statements
  11. Oral Questions Finance 2 statements
  12. Oral Questions Veterans Affairs 2 statements
  13. Oral Questions Privilege 2 statements
  14. Government Orders Weights and Measures Act 28 statements
  15. Private Members' Business Preventing Coercion of Persons Not Seeking Medical Assistance in Dying Act 12 statements
  16. Adjournment Proceedings Adjournment Proceedings 4 statements
  17. Adjournment Proceedings Adjournment Proceedings 5 statements
  18. Adjournment Proceedings Adjournment Proceedings 4 statements