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Business of Supply

The debate focused on government spending, the national debt, and the rising cost of living in relation to Government Orders. The government defended its fiscal policies by citing Canada’s strong AAA credit rating and highlighting investments in affordability measures and essential programs, while opposition members countered that growing debt and interest payments pose risks to social services and are driving up the cost of living. Some members also questioned the government about economic stability given external factors like tariffs and expressed concern over debt warnings issued by credit rating agencies. Consequently, members of the opposition called on the Prime Minister to appear before the Finance Committee to explain his plan for spending and deficit reduction.Written by AI from the debate. Updated .

Official text

1 statement

Gord Johns

NDP
“I want to congratulate Olivia Chow on being re-elected mayor with a record number of votes. Big oil, banking, grocery, and telecom companies are making record profits. Does my colleague agree we should tax their extra profits so we can lower taxes for small and medium-sized businesses?”
Official Hansard

Madam Speaker, I would first like to congratulate former NDP MP Olivia Chow on her re-election and for receiving the greatest vote count by any mayor in Canadian history last night. My colleague, in his speech, talked a lot about small and medium-sized businesses and the pressures they are facing. Right now, we are seeing record profits for big oil, big banks, big grocery and big telecommunications companies. Does he agree that there should be an excess profit tax on those posting obscene amounts of profits? That could then reduce taxes for small and medium-sized businesses so some of the pressure can be taken off them. The big corporations are eating their lunch right now and it is time we provide relief for them.

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