Finance

Question period focused on federal spending, deficits, and the government’s newly announced investment fund. Conservatives said the deficit had doubled to $65 billion against the government’s earlier $31 billion forecast, that a trillion more dollars would be added to the debt by 2031, and that borrowing $25 billion to start the new fund is not how a real sovereign wealth fund works, since such funds use resource revenues rather than debt. They also raised cost of living, food inflation, and asked the government to stop running deficits. Liberals defended their record, saying Canada’s finances are among the strongest in the G7, that spending cuts would take dental care and other benefits away from people in Conservative members’ own ridings, and that the new fund and major projects would create jobs and wealth, including for Indigenous participants and skilled trades workers. A Liberal minister also disputed a Conservative claim about the economy and cited trade agreements with Indonesia and other Indo-Pacific countries.Written by AI from the debate. Updated .

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5 statements

Joël Lightbound, Minister of Government Transformation, Public Works and Procurement and Quebec Lieutenant

Liberal
“Canadians rejected the Conservative budget plan because economists did not support it. Our government has put Canada in the best financial shape in the G7, with the second-strongest growth and tax cuts for the middle class.”
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Official Hansard

Mr. Speaker, let us not forget that, last year, the member’s leader presented a budget plan that contained over 17 photos of himself, and none of the numbers in that plan were supported by economists. That is why Canadians made the wise choice to reject the Conservatives’ proposal and opt for the serious proposal put forward by this Prime Minister and this government, which has put Canada in the best fiscal position in the G7. We have the second-strongest growth in the G7 and are way ahead of the third- and fourth-place countries, while also delivering tax cuts for the middle class, support for those who need it and a strong economy.

Joël Lightbound, Minister of Government Transformation, Public Works and Procurement and Quebec Lieutenant

Liberal
“The opposition wants us to cut government spending. That would take dental care away from 27,000 people in the member's riding and cut 80 million dollars for local families. It would also stop us from investing in big projects that help our economy grow and give young people a better future.”
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Mr. Speaker, what would be irresponsible would be to do as my colleague suggests and deprive 27,000 people in his riding of the Canadian dental care plan, as well as 12,000 families of the approximately $80 million that flows into Louis-Saint-Laurent—Akiawenhrahk. That is what would be irresponsible. What would be irresponsible, given the global and economic turmoil we are facing, would be to fail to build and invest in infrastructure to boost Canada’s competitiveness—as we are doing at the Port of Québec, as we are doing in Contrecoeur, and as we are doing with Nouveau Monde Graphite—in order to create a strong, resilient economy that offers opportunities to our youth and future generations.

Steven MacKinnon, Minister of Transport and Leader of the Government in the House of Commons

Liberal
“We want all Canadians to help build major national projects. These projects will create wealth and give people jobs, especially in skilled trades.”
Official Hansard

Mr. Speaker, as we build Canada strong and carry out major projects, we naturally want to give all Canadians the opportunity to be part of this effort, to participate in these projects that will create wealth and put our men and women to work, especially in the skilled trades. Yes, we will ensure that the entire country has a bigger stake in the prosperity we intend to create here in Canada.

Steven MacKinnon, Minister of Transport and Leader of the Government in the House of Commons

Liberal
“We want to create a national fund to help build a new Canadian economy. It will create jobs and wealth for Canadians.”
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Mr. Speaker, just as we are doing with other programs like the Canada growth fund, indigenous participation in our projects and the Canada Infrastructure Bank, we want the sovereign wealth fund to provide the tools needed to move forward, to build and develop a new economy here in Canada. We want it to be an economy that provides job opportunities as well as opportunities to create wealth here in Canada, for Canadians. That is what we are doing with the sovereign wealth fund for Canada.

Anita Anand, Minister of Foreign Affairs

Liberal
“What the member said is false. We are building a strong economy by making trade deals around the world, like in Asia. I want to know why the Conservatives refuse to support our work for Canadians.”
Official Hansard

Mr. Speaker, I thank the member for his question. What he said is not true. We are continuing to build a strong economy in Canada with trade agreements around the world. For example, we signed an agreement with Indonesia last year, and we have agreements with Indo‑Pacific countries, including ASEAN in 2026. We are going to keep building the economy through agreements like these. I would like to know why the Conservatives refuse to vote with us in support of Canadians.

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