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The Economy

Question period focused on the state of the Canadian economy. The Conservative leader said Canada is in a recession, pointing to rising consumer insolvencies and bankruptcies, net job losses this year, and businesses failing to pay debts, and asked the Prime Minister to change his economic policies. The Prime Minister replied that the economy is growing and becoming stronger and more independent, citing over 88,000 new full-time jobs in a month, GDP growth, a trade surplus, high business and foreign investment, and more Canadians in the workforce than Americans. The exchange also included the Prime Minister questioning the Conservative leader’s belief in Canada and the Conservative leader responding about patriotism and the Prime Minister’s past business decisions.Written by AI from the debate. Updated .

Official text

7 statements

Pierre Poilievre

Conservative
“More Canadians are going bankrupt because of the Prime Minister's spending and economic policies. Will he change these policies before more people go broke?”
Official Hansard

Mr. Speaker, the Liberal Prime Minister has created the only recession in the G7 and the G20. Today, the Office of the Superintendent of Bankruptcy revealed it is getting worse: an 8% increase in consumer insolvencies and a 10% increase in bankruptcies. In the 12 months the Prime Minister has been in office, we have had the highest number of insolvencies in a decade and a half. The Liberal Prime Minister created this mess by doubling the deficit, driving up inflation and grinding growth down. Will he reverse these disastrous Liberal policies before more Canadians go bankrupt?

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Mark Carney

Liberal
“Our economic plan is working. Canada just added over 88,000 full-time jobs in the private sector. We are creating jobs twice as fast as the United States, and a higher share of Canadians are working.”

  • Government answer in Question Period

    Relevance 45 of 100

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

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Official Hansard

Mr. Speaker, we are in the midst of the biggest transformation of the Canadian economy in decades. We are building a stronger economy, a more resilient economy and a more independent economy, and our plan is taking root. Last week, we just heard that we have created over 88,000 jobs, all full-time, all private sector. This economy is creating jobs at twice the rate of the United States. More Canadians are in work than the Americans, and more Canadian women, by seven percentage points, than the U.S.

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Pierre Poilievre

Conservative
“Our economy is in a recession, jobs are being lost, and businesses are going bankrupt. Will the Prime Minister change direction before more businesses fail?”

  • A repeated line

    “We have the second-highest unemployment in the G7.”

    Said 7 times by 4 members since June 1.

    Every time it was said
Official Hansard

Oh, Mr. Speaker, he is transforming the economy. He has transformed it into the only recession in the G20. Regretfully, this year there has been a net loss of 24,000 jobs, meaning that we have the second-highest unemployment in the G7, a third higher than in the United States. Today, Equifax said that “Canadian entrepreneurship is on the decline and business payment challenges continued to build as more companies fell behind on [their] payments”. A third fewer small businesses launched in the last 24 months. Current businesses are going bankrupt. New ones are not launching. Will he reverse course before more go bankrupt?

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Mark Carney

Liberal
“Our economy is doing well. More Canadians are working than Americans, especially women. Business investment is up, and foreign investment is at a 20-year high. We also have a trade surplus.”

  • Government answer in Question Period

    Relevance 40 of 100

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

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Official Hansard

Mr. Speaker, what matters is that people believe in this economy and are moving forward. The Leader of the Opposition does not believe in Canada. This is what is happening. More Canadians are in the workforce than the Americans. More Canadian women are in the workforce than the Americans by seven percentage points. Investment in machinery and equipment by businesses is up 10%. We have the highest level of foreign direct investment in 20 years. A trade surplus was just registered. We are building Canada strong.

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Pierre Poilievre

Conservative
“The Prime Minister says I do not believe in Canada. I am fighting for Canadians who are hurting because of his recession. He should not lecture anyone about loving Canada when he moves his own corporate money and offices out of the country. I will keep fighting for Canadian workers and the economy.”

  • Opposition question in Question Period

    Signal 10 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, the Prime Minister accuses me of not believing in Canada. It is my patriotic duty to fight for the people who are suffering as a result of his recession. Once again, he is making the mistake of confusing Canada with the Liberal Party. We are not going to take any lessons on patriotism from a guy who stashes his corporate cash in a tax haven and moves his corporate head office out of this country. We are going to continue to fight for Canadian workers, Canadian consumers and a strong Canadian economy. Some hon. members: Oh, oh!

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Pierre Poilievre

Conservative

Linked statement

“Canada is the only G7 country in a recession, and more businesses are failing to pay their debts. I want the Prime Minister to take responsibility for the economy and change his policies.”

  • A repeated line

    “Canada is the only G20 country in a recession.”

    Said 104 times by 61 members since May 29.

    Every time it was said
Official Hansard

Mr. Speaker, I understand that the Prime Minister cannot stand up for the miserable economic track record he has created. Canada is the only G7 country in a recession. Instead of attacking other people’s patriotism, why does he not take responsibility for the damage he has caused? Equifax reports that the national 60-day delinquency rate for businesses rose 11% year over year in the most recent quarter, with escalating costs and higher inflation being the main culprits. That is what the organization reports. We know the Prime Minister managed to put us in the only recession in the G7. Will he reverse these disastrous policies before he drives more people into bankruptcy?

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Mark Carney

Liberal
“Our economy is growing strong. The latest numbers show quick growth, a trade surplus, and 88,000 new jobs last month. We added jobs and foreign investment at twice the rate of the United States.”

  • Government answer in Question Period

    Relevance 100 of 100

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

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Official Hansard

Mr. Speaker, we are growing an economy that is stronger, more resilient and more independent. The flash GDP estimate for April is 0.4% growth. I will annualize that to help out the Leader of the Opposition. That is 5% growth. A trade surplus just registered the strongest job growth in the G7 in just this last month, at 88,000 jobs, which is twice the rate of the United States’, and twice the rate of foreign investment.

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