Finance

Question period on federal finances. Conservative members said the government will not meet its own fiscal targets, citing the Parliamentary Budget Officer, and raised concerns about deficits, debt held in Crown corporations, and rising interest costs, which they said would fall on younger generations; they asked how the debt would be repaid. Liberal ministers responded that the government has an economic plan, pointing to investment, foreign investment levels, exports, tax cuts for 22 million Canadians, and the national groceries and essentials benefit; one minister also criticized the Opposition leader’s record.Written by AI from the debate. Updated .

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4 statements

Adam Chambers, Simcoe North

Conservative
“The budget officer warned that the Prime Minister will not meet his own spending targets. He is breaking his promises. Did the Prime Minister personally approve running up the deficit?”
Official Hansard

Mr. Speaker, the Parliamentary Budget Officer has warned Canadians that the new finance minister and Prime Minister will not even meet their own fiscal targets and anchors. The Prime Minister, that is, refuses to meet the standards he has imposed on himself and promised. If the Prime Minister is continuing to break these promises, they are about as unreliable as previous prime minister Justin Trudeau’s fiscal promises. Will the Prime Minister confirm that he himself approved using the credit card to run up the deficit?

Adam Chambers, Simcoe North

Conservative
“Long-serving MPs from all parties have made valuable contributions to Canada. The fastest-growing cost in this budget is interest on the debt. Soon, almost 14 cents of every government dollar will go to paying interest, up from just over 10 cents when this Prime Minister took office. This debt will burden young people. Why do the Liberals keep breaking their spending promises?”
Official Hansard

Mr. Speaker, I happen to think the members of Parliament from multiple parties who have spent decades in this place have made valuable contributions to this country. The fastest-growing expense in this budget is interest on the debt. In fact, in just a few years, almost 14¢ of every dollar earned by the government will go to paying interest on the debt. When the Prime Minister came in, that number was just over 10¢. On behalf of all of the young people who will be saddled with the credit card-like spending and debts and deficits of the Liberal government, I ask, why do the Liberals keep breaking their fiscal promises?

Sandra Cobena, Newmarket—Aurora

Conservative
“The Prime Minister is hiding the country's true debt, including 300 billion dollars in Crown corporations. Taxpayers have to pay all this borrowed money back. I want the Prime Minister to tell us how he plans to pay off this debt.”
  • Opposition question in Question Period

    Respect 56 of 100

    This statement targeted a person rather than their actions or views: “acting like a gambler hiding his debts from his family”.

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Official Hansard

Mr. Speaker, the Prime Minister is acting like a gambler hiding his debts from his family. He hides $300 billion of debt in Crown corporations and call it an asset. He calls $19 billion in subsidies and tax credits an investment. He shreds the debt-to-GDP ratio and invents a new one. Every dollar the Liberal government borrows must ultimately be paid back, and it is paid back with dollars earned by and taken from hard-working Canadians. When will the Prime Minister stop playing accounting games and tell us how he is going to repay his credit card budget?

Sandra Cobena, Newmarket—Aurora

Conservative
“The government is creating too much debt, and my children will have to pay for it. The cost to pay the interest on this debt is growing faster than any other program. Paying it back would cost every family $14,000 more in taxes each year for ten years. The Prime Minister needs to explain how he will pay this debt back.”
Official Hansard

Mr. Speaker, the Liberals are building a mountain of debt. My generation and my children’s generation are going to be crushed under it and the Liberals do not seem to care. Interest is the fastest-growing expense in the government. It is not health care, infrastructure or defence; it is interest. The Prime Minister is mortgaging our country’s future but making the book so confusing that no Canadian can see what the bill actually is. Balancing the budget and repaying Liberal debt would cost each household another $14,000 in taxes each year for a decade. When will the Prime Minister explain how he is going to repay—

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