The Economy

Question period focused on the state of the Canadian economy. Conservative members, led by Pierre Poilievre, said Canada is in a recession, citing the Bank of Canada governor’s description of a soft economy, rising prices, job losses and people struggling to pay bills or keep their homes, and asked the Prime Minister to change the policies they said caused it. Liberal ministers replied with growth figures from the OECD showing Canada outpacing other G7 countries, said the Bank of Canada views the economy as resilient despite tariffs and wars abroad, and pointed to recent job gains and a trade surplus. Liberals also said the government is working with premiers on major energy projects and on responding to the trade war.Written by AI from the debate. Updated .

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4 statements

François-Philippe Champagne, Minister of Finance and National Revenue

Liberal
“Canada's economy grew by 1.2%, which is faster than most other major countries. We are working to make our economy the strongest in the G7.”
Official Hansard

Mr. Speaker, I have good news for the Conservative leader. Germany posted growth of 0.7%; Italy, 0.5%; Mexico, 0.8%; France, 0.7%; Japan, 0.6%; the United Kingdom, 0.9 %; and Canada, 1.2%. According to the OECD’s projections, Canada has the second-fastest growth in the G7. We, on this side of the House, will work hard every day to build the strongest economy in the G7.

François-Philippe Champagne, Minister of Finance and National Revenue

Liberal
“The OECD predicts Canada's economy will grow by 1.7% in 2027. That is faster than Germany, Italy, Japan, and the United Kingdom.”
Official Hansard

Mr. Speaker, I know it is Wednesday and the Leader of the Opposition is looking for good news. Let me help him. For Germany, it is 1.1%; Italy, 0.6%; Japan, 0.8%; and the United Kingdom, 1.1%. For Canada, it is 1.7%. That is the growth projection for 2027. This is what the OECD said just recently. On this side of the House, we are going to fight for Canadians, because every day is a good day to fight for Canadians.

Tim Hodgson, Minister of Energy and Natural Resources

Liberal
“The Bank of Canada says our economy is strong, even with foreign tariffs and wars. We are focused on building new energy projects like power lines, hydro, gas, and nuclear. The Conservatives should help us build instead of complaining.”
Official Hansard

Mr. Speaker, while the Leader of the Opposition chooses to cherry-pick points, what we know is that the head of the Bank of Canada said that our economy continues to show real resilience in the face of illegal and unjust tariffs and in the face of two economy-destroying wars. Canadians want us to focus on building. That is why we are building transmission. That is why we are building new hydro. That is why we are building new LNG. That is why we are building new nuclear. Maybe the Leader of the Opposition should get out of the clouds and start helping us build.

Mélanie Joly, Minister of Industry and Minister responsible for Canada Economic Development for Quebec Regions

Liberal
“The Prime Minister is working with Canada's premiers to deal with the trade war. Even with this trade war, our economy added 88,000 jobs last month and we had our biggest trade surplus since January 2025.”
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Official Hansard

Mr. Speaker, the Prime Minister is a serious man who knows business and understands the economy. Right now he is working with all the first ministers, basically all the premiers of our provinces and territories, to make sure that we are dealing with the impacts of the trade war, which is never alluded to by the Leader of the Opposition. Notwithstanding this trade war, last month we were able to create 88,000 jobs across the country, particularly for young people and for women. Not only that, but we are also going through a trade surplus, the highest since January 2025, which was before the trade war.

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