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Finance

During question period on finance, Conservative MP Sandra Cobena said the government has added $700 billion to the national debt over the past decade and plans to add another $733 billion over five years, which she put at $82,000 per household, while noting record food bank use, a PBO growth forecast of 0.9%, and debt interest costs of $83 billion. Liberal minister François-Philippe Champagne replied that Canada has the strongest fiscal position in the G7, a AAA credit rating shared only with Germany, low debt relative to the economy, and is expected by the IMF to have the second-fastest growth among G7 countries by 2027, adding that Canada has skilled workers, key industries, critical minerals and free trade with all other G7 countries.Written by AI from the debate. Updated .

Official text

4 statements

Sandra Cobena

Conservative

Linked statement

“The Liberal government is spending too much money. It added $700 billion to our debt over the last 10 years, and it plans to add another $733 billion over the next five. That adds $82,000 of debt for every household. Meanwhile, food bank visits have hit a record high. All this spending is making Canadians poorer, not better off.”
Official Hansard

Madam Speaker, the Liberal government is spending without restraint. It has added $700 billion in national debt over the last 10 years, but it is adding another $733 billion over the next five. The Liberals are costing us an additional $82,000 of debt per Canadian household. What is the outcome? It is a record 2.4 million visits to the food bank in a single month. That is the highest in Canadian history. If spending was the solution, surely Canadians would be better off by now. What good is all this spending when the very Canadians paying for it are getting poorer?

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François-Philippe Champagne

Liberal
“Canada has the best financial position in the G7. We have the lowest debt compared to the size of our economy, and we share a top credit rating only with Germany. The IMF also expects our economy to have the second-fastest growth by 2027.”

  • Government answer in Question Period

    Respect 94 of 100

    This statement targeted a person rather than their actions or views: “she knows better”.

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Official Hansard

Madam Speaker, I have enormous respect for the colleague who just asked the question, but she knows better. She knows that Canada has the strongest fiscal position in the G7. She knows that Canada is the only country, with Germany, to have a AAA credit rating. She knows that Canada has the lowest net debt to GDP in the G7. She knows that the IMF just confirmed in its forecast that Canada will have the second-fastest growth in 2027. She knows that this country has everything to build, and that is what we are going to do, with Canadians.

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Sandra Cobena

Conservative
“Canada's economic growth is down to 0.9%, and our debt interest has reached $83 billion. How can the government claim its economic policies are working?”
Official Hansard

Madam Speaker, they say that they are building Canada, but the reality is that the PBO just slashed Canada’s growth rate to a mere 0.9%, less than half of the U.S.’s, and the reality is that they are building generational debt. What is the fastest-growing expense for the government? It is not health care and it is not defence. It is interest, $83 billion in interest. The Liberals are driving Canadians into dependence on government programs, and they are taking on massive amounts of debt to pay for it. How can this Liberal government possibly claim that its economic policies are working?

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François-Philippe Champagne

Liberal
“The Conservatives are talking down our economy. Canada has skilled workers, energy, minerals, and strong industries that build cars, planes, and ships. We also have free trade with all other G7 countries. We have everything we need to keep our country 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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Official Hansard

Madam Speaker, what Canadians are watching today is the Conservatives always talking down the Canadian economy. We have the most talented workers. We have strong industries. We are one of the few countries that can build a car, can build a plane and can build a ship. We have the critical minerals to power the economy of the 21st century. We have an abundance of energy to make things here at home, and we are the only G7 country with free trade with all the other G7 nations. We have everything to build Canada strong, and that is what we are going to do.

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