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Finance

In question period on finance, the Conservatives cited a Parliamentary Budget Officer report saying the debt-to-GDP ratio will worsen every year until 2031, with interest costs rising from about $25 billion in 2021 toward $83 billion by 2030, and asked the government to admit it needs to cut spending. The Liberals, responding through François-Philippe Champagne, said Canada has the strongest fiscal position in the G7, with the lowest net debt-to-GDP ratio, one of the lowest deficits, and a AAA credit rating, and pointed to IMF growth projections and investments in workers and trade. Champagne asked the opposition to support the government’s plan rather than, in his words, talk down the economy.Written by AI from the debate. Updated .

Official text

2 statements

François-Philippe Champagne

Liberal
“Canada has the strongest economy in the G7. We have low debt, a top credit rating, and more jobs and trade. The opposition should support our plan.”

  • A repeated line

    “We have the lowest debt-to-GDP ratio in the G7.”

    Said 17 times by 13 members since April 29.

    Every time it was said
Official Hansard

Mr. Speaker, I have good news for the House. It is Tuesday. Canada has the strongest fiscal position in the G7. We have the lowest net debt to GDP in the G7. We have one of the lowest deficits to GDP in the G7. We are the only country, with Germany, in the G7 to have a AAA credit rating. Not only do we have fiscal discipline, but trade is up, employment is up and we are going to build Canada strong. I hope they will get on board.

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François-Philippe Champagne

Liberal
“Our economy is doing well, and experts say it will be among the fastest growing in the G7 by 2027. We are investing in workers and businesses. I want the Conservatives to stop talking down our economy and work with us instead.”

  • Government answer in Question Period

    Clarity 46 of 100

    Much of this statement used imprecise wording, lacked details on timing or responsibility, or made broad claims without support.

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Official Hansard

Mr. Speaker, one thing I will always do is stand up for Canadians and celebrate the workers of this great country. Every day, we are going to fight for Canadians, as we have done. Let us celebrate as well the fact that the IMF projected that Canada would have the second-fastest growth in the G7 in 2027. We are building Canada strong. We are investing in our workers. We are investing in our industries. I just wish the Conservatives would stop talking down the Canadian economy and work with us to build Canada strong.

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