Finance

In question period on finance, Conservative members said government spending is driving up interest rates, inflation and debt, pointing to rising food bank use, a PBO report projecting higher unemployment, and what they called unmet promises to balance the budget and lower the debt-to-GDP ratio; they called for spending cuts. The Liberal minister replied that international agencies project Canada among the fastest-growing G7 economies, that Canada has the lowest net debt-to-GDP ratio and strong credit ratings in the G7, and that government programs support millions of Canadians with costs like child care, school food, disability benefits and groceries; he said the Conservatives have voted against these affordability measures and asked them to support the government’s plan.Written by AI from the debate. Updated .

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5 statements

Philip Lawrence, Northumberland—Clarke

Conservative
“Interest rates are going to rise again soon. That will make mortgages and business costs go up. The government's high spending is causing this affordability crisis. I want them to cut spending.”
Official Hansard

Madam Speaker, the markets are predicting it, the government’s own parliamentary watchdogs are predicting it, and even Tiff Macklem is indicating interest rates could go up by a quarter of a point as early as next week. That is going to mean higher mortgage payments for the residents of my community. That is going to mean higher costs for our business owners. The Liberals are literally fuelling the affordability crisis they deny exists. When will the Liberal government finally curb its spending and allow Canadians to live their life?

Philip Lawrence, Northumberland—Clarke

Conservative
“A food bank in my area has seen use go up by 3,000% since 2015. The government needs to spend less money so Canadians can afford to live.”
Official Hansard

Madam Speaker, I will be honest. I have not been speaking with the IMF, but I have been speaking to people from the food bank in Newcastle, which has seen a 3,000% increase in usage since 2015. When will the Liberals finally get the message to curb their spending so Canadians can afford to live?

Greg McLean, Calgary Centre

Conservative
“The government keeps spending billions of dollars without a real budget plan, and Canadians are not seeing any results. The budget officer says this spending is out of control and the economy is getting worse. I want the minister to explain how spending more money leads to worse results.”
Official Hansard

Madam Speaker, barely a day goes by without the Liberal government’s making an announcement of billions of dollars of new spending. Press releases are issued, media content is bought, consultants are paid and dollars go out the door immediately, yet results for Canadians are years away, if at all. The bulk of this announced spending is part of no budget plan. This is government by blank cheque. Just this week, the Parliamentary Budget Officer released the fall economic outlook, showing just how out of whack the spending has become, and the economic outlook just gets worse. Can the minister stand here and explain how more spending leads to worse results?

Greg McLean, Calgary Centre

Conservative
“The Prime Minister promised to balance the budget by 2029 and lower the debt, but he is failing at both. The government is spending and borrowing too much money. It must stop this spending and plan for Canada's future.”
  • Opposition question in Question Period

    Respect 90 of 100

    This statement targeted a person rather than their actions or views: “The economist Prime Minister”.

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Official Hansard

Madam Speaker, a sign of a strong economy must be how much the government can give people because they cannot afford to pay their own bills. The economist Prime Minister promised Canadians two things: to balance the budget by 2029 and to maintain a declining debt-to-GDP ratio. He is failing badly at both. To quote the PBO report, “the two fiscal anchors have imposed limited fiscal discipline on government spending and borrowing.” Our escalating debt is consuming way too much of our tax dollars. The bottom line is that if the PBO were a doctor, she would tell Canadians that the government is on life support. When will the Liberals think about Canada’s future and stop spending as if—

Helena Konanz, Similkameen—South Okanagan—West Kootenay

Conservative
“Unemployment is high, and families in my riding are struggling to afford food and gas. The government plans to spend more, add more debt, and raise taxes. I want the minister to explain how this plan helps families.”
Official Hansard

Madam Speaker, the PBO’s latest report shows that unemployment will soon rise to 6.9%, but in my region it is as high as 8.3%. That includes families in Penticton, Grand Forks and Castlegar who cannot find work and are choosing between buying gas or buying groceries, yet this report shows that Liberal spending will only increase, with more debt. Therefore, higher taxes will follow. Can the Liberal minister explain how their fiscal plan of fewer jobs and higher taxes will help families—

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