Finance

Question period on this day was largely about the government’s borrowing and spending, with members citing the recent fall economic update and its projected deficit. Conservative members said the deficit is far larger than previously promised, that debt costs now exceed health care spending, and that high borrowing is making groceries and daily life unaffordable; several criticized the budget as excessive spending and quoted constituents and commentators. Liberal members replied that the deficit came in $11 billion lower than projected, that spending growth has slowed, that Canada has the strongest fiscal position in the G7 and a top credit rating, and pointed to investments in housing, community projects, trade diversification, and defence as worthwhile; one asked Conservative members which local projects they would cut, and another said they had voted against programs like the national school food program.Written by AI from the debate. Updated .

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7 statements

Ryan Turnbull, Parliamentary Secretary to the Minister of Finance and National Revenue and to the Secretary of State (Canada Revenue Agency and Financial Institutions)

Liberal
“The Conservatives ignore the facts about our economy. Our deficit is down by 11 billion dollars. Canada has the strongest financial position in the G7. Manufacturing is growing, and our economy is doing better than expected.”
Official Hansard

Madam Speaker, the Conservatives have never met a fact they could not deny. The spring economic update shows $11 billion less of a deficit and strong fiscal guardrails. The International Monetary Fund recently stated that Canada has the strongest fiscal position in the G7. There is not only that: Headlines last night said that we have recently seen the largest monthly growth in the manufacturing industry in three years. Statistics Canada is projecting that Canada’s annualized GDP growth for the first quarter in 2026 is 1.7%, which is beyond expectations. Even the Bank of Canada governor said he is encouraged by the direction the federal government is taking.

Ryan Turnbull, Parliamentary Secretary to the Minister of Finance and National Revenue and to the Secretary of State (Canada Revenue Agency and Financial Institutions)

Liberal
“The member opposite claims to care about hungry children, but he and his party voted against our school food program. That program would keep 400,000 kids from needing food banks. They also voted against our child benefit and our child care plans.”
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Official Hansard

Madam Speaker, it is very hard to take the member opposite seriously when he mentions children being hungry, as he voted time and time again in this House, with his entire party, against a national school food program that would take 400,000 children out of food bank lineups. That is shameful. That is absolutely shameful that they would stand here and lecture us on feeding children across Canada. We have offered a Canada child benefit that puts hundreds of tax-free dollars into Canadians’ pockets. We reduced the cost of child care and we have offered free lunches at school, and the members opposite opposed all of it.

Ryan Turnbull, Parliamentary Secretary to the Minister of Finance and National Revenue and to the Secretary of State (Canada Revenue Agency and Financial Institutions)

Liberal
“Our economy is doing well, even if the Conservatives will not admit it. The deficit is $11 billion lower than expected, and spending growth has slowed down. Inflation is in our target range, Canada has a top credit rating, and we are creating jobs faster than the United States.”
Official Hansard

Madam Speaker, let us get acquainted with the facts. I know it is very hard for the Conservatives to accept. The deficit is $11 billion lower than projected. Operational spending has gone from an average annual increase of 8% to 2%. We are on a declining deficit-to-GDP ratio over the planning horizon. Inflation in Canada has been within the Bank of Canada’s target range for almost three years. We have a AAA credit rating, the highest credit rating of any country rating in the world. We have a higher per capita rate of job creation than the U.S., three times—

Maninder Sidhu, Minister of International Trade

Liberal
“We are funding big projects across Canada to create jobs. We are spending $64 million to help build a large new community centre in Brampton.”
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  • A repeated line

    “They want us to build Canada strong.”

    Said 3 times by 2 members since May 1.

    Every time it was said
Official Hansard

Madam Speaker, we are building big projects across the country to create new opportunities and new jobs through the new build communities strong fund. We announced a $64-million federal investment to build the largest community centre in Brampton, the Embleton Community Centre, with 175,000 square feet of pool, gym and child care facilities. This is what citizens of Canada expect. They expect us to build Canada strong, with major projects to create jobs and opportunities across the country.

Claude Guay, Parliamentary Secretary to the Minister of Energy and Natural Resources

Liberal
“We need to sell more goods to countries other than the United States to grow our economy. Our goal is to double these exports in 10 years. Canada's oil industry is helping, and more of our pipeline oil is now going to Asia.”
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Official Hansard

Madam Speaker, to grow our economy and make Canada more resilient, we must diversify our exports. That is why our trade diversification strategy aims to double exports to countries other than the U.S. within 10 years. Canada’s energy sector, including Alberta, has a significant role to play. The percentage of oil shipped via the Trans Mountain pipeline destined for Asia increased from 39% to 62%.

Jennifer McKelvie, Parliamentary Secretary to the Minister of Housing and Infrastructure

Liberal
“We want to spend money to build up communities. I want the member from Alberta to say which local projects he wants to cut, like water systems, a community centre, or new affordable homes.”
Official Hansard

Madam Speaker, on this side of the House, we believe that now is the time to invest in and build our communities. My colleague is from Alberta. Can he explain to Albertans which projects he would like to cut? Is it water infrastructure to support the community of St. Albert? Is it the new Japanese community centre in Calgary? Is it 355 affordable homes in Edmonton, made possible by Build Canada Homes? What is it he wants to cancel? We want to invest.

David Myles, Parliamentary Secretary to the Minister of Canadian Identity and Culture and Minister responsible for Official Languages and to the Secretary of State (Nature)

Liberal
“The opposition claims our military spending causes inflation. I support this spending because it helps the people who protect our country.”
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Official Hansard

Madam Speaker, I have to ask myself what the opposition considers inflationary spending. For instance, yesterday, I heard a member opposite refer to our defence investments as if they were not important, as if they were all inflationary spending. I will tell members that when I am in Oromocto, when I am in Fredericton, at Base Gagetown, they do not see these as inflationary spending. They see these as important investments in the people who serve our country and protect our sovereignty. I applaud it. They applaud it. Unfortunately, the opposition votes against—

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