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Adjournment Proceedings

2026-06-04 Sitting 129 Showing 1–5 of 5

An Adjournment Proceedings debate where the Conservatives criticized the Liberals' fiscal management and rising debt levels. The Liberals defended their spending and economic record, arguing deficits are declining and Canada's fiscal position remains strong despite global challenges. The debate focused on these disagreements over spending and fiscal policy.

Official Hansard ↗

Cathay Wagantall

Conservative 7:00 p.m.

“I think the government spends too much. The Prime Minister didn't answer my question. I say this government is irresponsible. I want young people to have opportunities and jobs, but they have high debt. Government spending adds $54 billion this year. I think government should borrow and spend less. I want lower taxes and more housing. I am happy that Conservatives have a plan. I want the government to listen to Conservatives.”

Official Hansard

Madam Speaker, I am grateful for this opportunity to return to a question I asked the Prime Minister in April on his reckless spending. I am grateful not solely because the answer I received from the government was inadequate and devoid of hope for Canadians, but because I believe a whole generation’s future hangs in the balance. The poor choices the government has made over the past 10 years have put young people at a severe disadvantage. They are the future engine of our economy. They are the future tax base that will be asked to support an aging population and compete with a rapidly developing world. A responsible government would provide them with the opportunities and conditions to succeed. A responsible government, as it stands, however, we do not have. We have a federal Liberal government that has failed to meet the moment. This is a matter that I believe should command the concern of absolutely every parliamentarian. In short, this is a federal government that has created an economic hole of its own design, is attempting to spend itself out of that hole and, simultaneously, refuses to take the common-sense steps that will create the long-term growth that Canadians desperately need. These young people, current and future taxpayers, are entering the working world with a bill that none of them anticipated and none of them deserve. Fully aware of the consequences, the Prime Minister chose to add another $54 billion of spending on the national credit card this year. Added to other out-of-control deficits over the past decade, Canadians will be saddled with $407 billion in interest alone over the next six years. As I stated in my original question, by 2031, today’s 18-year-old first-time voter will be the workforce facing an additional $462 billion in national debt. With numbers like this, it is not at all surprising that Canada has the highest food inflation, the highest housing costs and the highest household debt in the G7, but this stark reality does not even factor in the youth jobs crisis. After years of Liberal stagnation and mismanagement, youth unemployment is now hitting 14.3% and overall youth employment is at one of the lowest points in decades. Students are being hit especially hard, with more than 17% of those looking for work and not able to find a job. Last summer, student unemployment reached levels not seen since the great recession. Young Canadians are trying to pay tuition, gain experience and build a future. A cost of living crisis has come and many cannot find work. Even graduates with post-secondary education are increasingly unable to find jobs related to their training. After years of Liberal policies that have driven away investment, burdened small businesses and failed to match training with labour market needs, young Canadians are paying the price. They deserve opportunity, not unemployment. Through the Conservative youth jobs plan, our side of the floor would unleash the economy by repealing anti-resource laws, cutting taxes to drive reinvestment and eliminating red tape that is shutting youth out of the job market. We would fix immigration by repairing credential recognition and realigning immigration with labour and housing realities. We would move away from a one-size-fits-all approach to training and ensure that the Canada student financial assistance program provides relatively more support to students pursuing in-demand fields. We would also build homes where the jobs are by proposing a 100% capital cost writeoff for companies that build workforce housing. I am encouraged that the HUMA committee recently released an all-party unanimous report on youth unemployment. The report makes key recommendations to advance much of what Conservatives have proposed. Now is the time for the government to listen to Conservatives and their own MPs by implementing all of these recommendations. This is a critical moment. Rising unemployment and the cost of living will drive more Canadians to the breaking point, particularly Canada’s youth. While the Liberals have no youth jobs plan, Conservatives have done the work and are determined to deliver results and real hope for their future. We will unleash the economy and restore the take-home pay Canadians need to break out of this Liberal debt cycle of their own creation.

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Leslie Church

Liberal 7:00 p.m.

“I want to look responsible by talking about 'fiscal responsibility'. I say this government is doing a good job with money. I will talk about global problems to justify the government spending a lot.”

Leslie Church

Liberal 7:05 p.m.

“I want to say Canada is fiscally strong. Our debt ratio is good. We are spending carefully. We have money for things we care about. We will control inflation by giving out money in the right way. Young people need a fair shot. I want my colleague's support.”

Official Hansard

Madam Speaker, despite global uncertainty and ongoing geopolitical instability, Canada's fiscal position remains strong. The 2026 spring economic update confirms that our fiscal outlook has improved, not deteriorated. Deficits are declining over the medium term, and the government remains firmly committed to a declining federal deficit-to-GDP ratio. As a whole, Canada also continues to have one of the strongest fiscal positions in the G7, with the lowest net debt-to-GDP ratio and the second lowest deficit-to-GDP ratio. That strong position is not accidental. It is the result of a government that is committed to making responsible, disciplined choices. That means spending less on government operations, cutting waste and ensuring public funds are used where they can deliver the greatest impact. By managing costs carefully, we are creating the fiscal room to invest more in the things that truly matter, such as supporting workers, helping businesses grow and building the nation-building infrastructure our economy depends on. Fiscal responsibility also means not fuelling inflation. Inflation has remained within the target range for 28 consecutive months, and we want to maintain the right conditions to keep it there. That is why the government is focused on improving supply, especially housing supply, and providing real targeted affordability relief without compromising economic stability. Even under more challenging global conditions, our fiscal position remains stable under our responsible fiscal plan. Let us talk about fairness, because fiscal responsibility is ultimately about intergenerational fairness. The government knows that young Canadians deserve more opportunities. By keeping debt under control and investing in growth, we are protecting their future. The 2026 spring economic update shows a government that is meeting today's challenges while protecting tomorrow's prosperity. I have to highlight for my colleague, given her interest in young Canadians and creating opportunities for them, the transformational $6-billion initiative in the spring economic update to invest in recruiting, training and hiring up to 100,000 new Red Seal trades workers right across the country. Canada's finances are improving, our fiscal anchors are intact, our debt remains sustainable, and our economy is being strengthened, not undermined by responsible public investment. That is fiscal responsibility. That is what the government is delivering. I hope that my colleague opposite gets on board.

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Cathay Wagantall

Conservative 7:05 p.m.

“I disagree with my Liberal colleague. The government is spending and borrowing too much. Our debt is too high. Young voters will pay for this later. Our economy is weak compared to other countries. The government should spend less on its programs. Conservatives warned this would happen.”

Official Hansard

Madam Speaker, I am sorry, but we will have $407 billion in interest alone over the next six years, and by 2031, the youngest voters will be facing the workforce with an additional $462 billion in national debt. That is not good money management by the government. Nothing has changed under the Prime Minister, and nothing will change until the government's reckless spending is stopped. For proof, Canada's youth need look no further than the G7 or even the G20, where Canada is the only member in a full-blown recession. Major banks, as well as the Parliamentary Budget Officer, are forecasting sluggish growth this year, and debt-to-GDP ratios are expected to continue to remain high, with virtually no chance of a decline over the next five years. It is no wonder the PBO is also reporting that the Liberals are borrowing an extra $7 billion over their own budgeted amount. That is an additional $72 billion piled onto the backs of our youth this year alone, when they are already overburdened and desperate for relief. Conservatives warned that inflationary spending would weaken economic growth, drive away investment and leave Canadians—

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Leslie Church

Liberal 7:05 p.m.

“I want taxpayers to keep spending money on my many programs. Deficits and debt are smaller than they could have been so everything is fine.”

Official Hansard

Madam Speaker, the spring economic update shows that the projected deficit is actually $11.5 billion lower in 2025-26 than forecast in budget 2025. This improvement is possible because of stronger-than-expected economic performance and higher revenues. We are concentrating on what we can control, such as maintaining fiscal sustainability while making targeted, high-impact investments for Canadians right across the country. This means eliminating the operating deficit over time, ensuring a declining deficit-to-GDP ratio and ensuring that every dollar spent on behalf of Canadians supports growth and resilience and improves the well-being of Canadians. That is what a fiscally responsible government looks like, and that is how we are building Canada strong for all. By making these adjustments now, we are making it possible to make generational investments that protect and transform Canada's industries, strengthen our economy and empower Canadians.

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