Finance

During question period on finance, the Conservatives asked about the government’s practice of labelling $94 billion in spending as investments rather than expenses, saying it uses financial definitions not used elsewhere and calling on the government to abandon the approach and return to standard accounting rules. The Liberals responded that they are spending less on government operations to prioritize investments in areas like housing, clean energy, infrastructure and major projects, that the spending is tracked transparently, and that a recent investment summit attracted $500 billion in investment commitments. A Liberal member also contrasted the Prime Minister’s economic credentials with the Conservative leader’s record in the House.Written by AI from the debate. Updated .

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4 statements

Sandra Cobena, Newmarket—Aurora

Conservative
“The Prime Minister renamed $94 billion in regular expenses as investments to make government spending look better. Independent budget watchdogs have called out this practice. I want the government to explain why it is misleading Canadians about our country's finances.”
  • Opposition question in Question Period

    Respect 69 of 100

    This statement targeted a person rather than their actions or views: “he took advantage of that trust”.

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Official Hansard

Mr. Speaker, the Prime Minister sold Canadians on his financial credentials, and then when they were not looking, he took advantage of that trust by inventing financial definitions used nowhere else in the world. He relabelled $94 billion of expenses as investments. This is like calling a grocery bill an investment. The former PBO and the IMF called them out, and now the new PBO has gone even further by saying that these invented definitions are not even being applied consistently. Why is this Liberal government destroying the integrity of Canada’s books?

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

Liberal
“We are spending less on running the government so we can invest in housing, clean energy, and building projects. We are tracking this spending clearly so Canadians can see how their money is invested.”
Official Hansard

Mr. Speaker, our plan is to spend less on government operations and prioritize investments that generate long-term benefits for Canadians, such as major projects, housing, clean energy and infrastructure that will help grow our economy and attract private investment. We have adopted a transparent capital budgeting framework that reflects the distinction between capital and operating spending so that Canadians can see clearly how public money is being invested.

Sandra Cobena, Newmarket—Aurora

Conservative
“The government is using made-up financial rules to make the budget look balanced. I want the government to cancel this accounting plan and go back to using normal rules.”
Official Hansard

Mr. Speaker, the reality is that if a CEO invented new financial definitions that were used nowhere else in the world and then applied them inconsistently, shareholders would wonder if he did not know how to budget or if he was trying to manipulate the budget. The Prime Minister stood in front of international investors and said that he would balance the operating budget a year early, but he is using invented definitions used nowhere else in the world, and on top of that, they are being used inconsistently. Will the Liberal government restore our original financial definitions and scrap this fake accounting scheme?

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

Liberal
“Our Prime Minister handles the economy better than the Conservative leader, who has done nothing in his twenty years here. We just brought in $500 billion of investment for Canada. The Conservatives should support our work to make the economy strong.”
  • Government answer in Question Period

    Relevance 0 of 100

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

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  • Government answer in Question Period

    Signal 44 of 100

    Much of this statement went to praise, blame, greetings, routine procedure or general stories rather than reasons, requests or specific points.

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Official Hansard

Mr. Speaker, I will put our Prime Minister’s credentials on the economy up against a leader who has been in this House entering his third decade. He has produced nothing in this House. We just hosted the Canada investment summit, where we attracted $500 billion of investment for Canada to build our economy strong. On this side of the House, we are going to do what is needed to build Canada strong. It is time for that party to get on board.

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