The Economy

Question period focused on the economy. Conservative members said Canada is the only G7 country in a recession, citing 112,000 jobs lost this year, declining business investment, rising food bank use, and young people leaving Newfoundland and Labrador for work, and pressed the Prime Minister to explain why Canada is faring worse than its G7 peers. Government ministers responded that Canada is in a trade war and facing global headwinds, but that the economy is among the fastest-growing in the G7, pointing to rising non-U.S. exports, high foreign investment, billions in commercial deals, and spending on housing, defence, infrastructure, and projects like small craft harbours in Newfoundland and Labrador. Most exchanges returned to these competing pictures of the economy’s health.Written by AI from the debate. Updated .

Official text (opens in a new tab)

7 statements

Wayne Long, Secretary of State (Canada Revenue Agency and Financial Institutions)

Liberal
“Canada is in a trade war, but our economy is strong. We have the second-fastest growing economy in the G7, and foreign investment is high. Our party is working to help the economy, while the Conservatives just talk.”
  • A repeated line

    “We have the second-fastest growth in the G7.”

    Said 12 times by 5 members since April 24.

    Every time it was said
Official Hansard

Mr. Speaker, although the Conservatives seem to want to celebrate it, we are in a trade war. We do face some headwinds. Let us look at some economic facts. We have the second-fastest growing economy in the G7. Non-U.S. exports are on track to double over the next decade, foreign direct investment is at twice the rate of our nearest G7 peer, and we now rank as the most attractive country in the world for infrastructure investment. On this side of the House, we are focused on building a strong economy for Canadians. The Conservatives are full of bluster, rhetoric and press conferences.

Wayne Long, Secretary of State (Canada Revenue Agency and Financial Institutions)

Liberal
“Our government has strong economic leadership. We are building a strong economy by cutting taxes and spending money on housing, defence, and infrastructure. The opposition only offers empty talk.”
  • Government answer in Question Period

    Relevance 23 of 100

    None of this answer addressed the specific question that was asked.

    See full analysis
  • A repeated line

    “We are going to build the strongest economy in the G7.”

    Said 15 times by 6 members since April 23.

    Every time it was said
Official Hansard

Mr. Speaker, in the last election, Canadians had a choice. They elected a Prime Minister with world-class economic and business credentials. We are going to build the strongest, most resilient economy in the G7. At home, we are investing. We are investing in infrastructure, defence and housing. We are cutting taxes. We are going to build a strong, resilient economy. On that side of the House, it is nothing but empty parking lot press conferences, props, bluster and rhetoric.

Joanne Thompson, Minister of Fisheries

Liberal
“Our government is investing in Newfoundland and Labrador. We are spending almost $1 billion on small craft harbours to support fishing and create jobs. We are also spending $15 million to clean up lost fishing gear. These programs help our economy and put people to work.”
  • Government answer in Question Period

    Relevance 29 of 100

    None of this answer addressed the specific question that was asked.

    See full analysis
Official Hansard

Mr. Speaker, while my colleague across the aisle once again gets up and reads the same notes, I want to remind her that in our province of Newfoundland and Labrador, announcements made by this government are resonating. There is almost $1 billion for small craft harbours. Not only does this support the fishing sector, but it also creates jobs. There was an announcement last week of $15 million, $5 million a year, for ghost gear retrieval. The call is out for communities in our province to also participate in this. These programs are building economies, getting people working and growing Canada strong.

Joanne Thompson, Minister of Fisheries

Liberal
“Our programs are helping young people in Newfoundland and Labrador get job training and work on big projects. We are also spending nearly $1 billion on small craft harbours to create jobs in rural towns.”
Official Hansard

Mr. Speaker, here we go again with the feigned indignation. In actual fact, in our province of Newfoundland and Labrador, the apprenticeship program is investing in young people with Red Seal certifications and getting them to work on projects like Bay du Nord. Again, there is almost $1 billion for small craft harbours and getting people to work in rural communities. Instead of reading tired notes, I encourage the member to actually speak to people in our province and find out how important these jobs are.

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
“Canada's economy faces the same global challenges as other countries, but it is still strong. The Conservatives are wrong to claim otherwise. Our exports and foreign investment are up, and our economy is expected to grow quickly.”
Official Hansard

Mr. Speaker, we are learning in this House that just because Conservatives say things over and again with righteous indignation, it does not make it any more true. Canada’s economy is facing the headwinds that every other economy around the world is facing. The Bank of Canada governor came to the public accounts committee today and cautioned the Conservatives about taking one indicator over another and prioritizing it too much. In reality, our economy is strong. It is projected to have the second-fastest growth. Our non-U.S. exports are up, foreign direct investment is at its highest point in almost 20 years, and wages have—

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
“Canada's economy is strong under our government. We are spending money on housing, building projects, the military, and new technology. Foreign investment in Canada is the highest it has been in almost twenty years.”
  • Government answer in Question Period

    Signal 34 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, let me give the member a real answer. Canada’s economy is strong and becoming more resilient under this government. We will never apologize, on this side of the House, for being optimistic about the future we are building in this country, together with all Canadians, with generational investments in housing, infrastructure, defence, innovation and productivity. We are seeing the highest level of foreign direct investments in nearly two decades. That is good news. Canadians know it. We will continue building a stronger—

Anita Anand, Minister of Foreign Affairs

Liberal
“Canada's economy is doing well. Our exports to countries other than the U.S. grew by over 17% last year. We are expected to have the second-fastest growing economy in the G7, and we are making billions of dollars in new deals around the world.”
  • Government answer in Question Period

    Relevance 100 of 100

    Of this answer, 100% addressed the question that was asked.

    See full analysis
Official Hansard

Mr. Speaker, last year Canadian exports to non-U.S. markets grew by over 17%. Canada is expected to have the second-fastest growing economy in the G7 this year and next, and in the first four months of this year alone, we landed over $10 billion in commercial deals. Over the past year, Canada has secured more than 20 economic and defence agreements across five continents. Countries are choosing Canada. We are ranked the world’s most attractive place for investment, and we will build—

Discussion

No comments yet

See the full discussion

Comment rules

More from sitting 126

  1. Private Members' Business Offender Rehabilitation Act 7 statements
  2. Government Orders Budget 2025 Implementation Act, No. 2 39 statements
  3. Government Orders Budget 2025 Implementation Act, No. 2 16 statements
  4. Oral Questions The Economy 12 statements
  5. Oral Questions The Environment 6 statements
  6. Oral Questions The Economy 14 statements
  7. Oral Questions Industry 4 statements
  8. Oral Questions The Economy 10 statements
  9. Oral Questions Canadian Identity and Culture 2 statements
  10. Oral Questions The Economy 18 statements
  11. Oral Questions Indigenous Affairs 3 statements
  12. Oral Questions The Environment 2 statements
  13. Oral Questions Foreign Affairs 2 statements
  14. Oral Questions Justice 6 statements
  15. Oral Questions The Economy 2 statements
  16. Government Orders Budget 2025 Implementation Act, No. 2 89 statements
  17. Adjournment Proceedings Adjournment Proceedings 3 statements
  18. Adjournment Proceedings Adjournment Proceedings 3 statements