Finance

Question period on finance focused on federal deficits, debt interest costs, and spending discipline. Conservatives said the government had broken earlier fiscal limits, that deficits and interest payments were growing, that business investment had fallen in five of the last six quarters, and asked whether the next budget would break the Prime Minister’s new fiscal anchors and whether he would appear at the finance committee. Liberals said Canada has the strongest fiscal position in the G7, pointed to over $60 billion in savings, a lower deficit, a balanced operating budget ahead of schedule, major investment commitments, and programs like dental care and child benefits that they said Conservatives vote against. An upcoming budget on November 5 was mentioned.Written by AI from the debate. Updated .

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5 statements

Ryan Turnbull, Parliamentary Secretary to the Minister of Finance and National Revenue and to the Secretary of State (Canada Revenue Agency and Financial Institutions)

Liberal
“Our government is being responsible with public money. We saved over $60 billion, lowered the deficit, and are ahead of schedule to balance our day-to-day budget. At the same time, we cut taxes on income, housing, and fuel, helped people with basic costs, and brought in record business investment from other countries.”
  • Government answer in Question Period

    Relevance 45 of 100

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Official Hansard

Mr. Speaker, our government has been clear: We are spending less to invest more in the Canadian economy. We found over $60 billion in government savings, reported a lower deficit in the spring economic update, and are on track to balance the operating budget a year ahead of schedule. We have done all that while cutting taxes on income, housing, fuel and new business investment, and supporting Canadians with groceries and essentials, while seeing the highest level in foreign direct investment in nearly two decades. That is how we demonstrate fiscal discipline and build Canada strong.

Ryan Turnbull, Parliamentary Secretary to the Minister of Finance and National Revenue and to the Secretary of State (Canada Revenue Agency and Financial Institutions)

Liberal
“Our economy is doing well and getting stronger. Canada has the lowest debt, a top credit rating, and the fastest growth in the G7. We also saved $60 billion in government spending and brought in over $500 billion in new investments.”
  • Government answer in Question Period

    Relevance 29 of 100

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  • A repeated line

    “Canada has the strongest fiscal position in the G7.”

    Said 14 times by 7 members since May 1.

    Every time it was said
Official Hansard

Mr. Speaker, Canada starts with the strongest fiscal position in the G7. We have seen the net debt-to-GDP ratio is the best in the G7. We have a AAA credit rating, the best in the G7. In Q2 of this year, we had the highest GDP growth in the G7. I do not know how many stats the member opposite needs. We saved $60 billion in government operations. We have attracted over $500 billion of new commitments in investment in the Canadian economy. I am not sure what the member opposite needs in terms of stats to understand that Canada is doing well and only getting stronger under the current government.

Ryan Turnbull, Parliamentary Secretary to the Minister of Finance and National Revenue and to the Secretary of State (Canada Revenue Agency and Financial Institutions)

Liberal
“The Conservatives are too negative to see our economic progress. We have secured 500 billion dollars in new investments and are backing major building projects across the country. Our next budget on November 5 will build on this work.”
  • Government answer in Question Period

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Official Hansard

Mr. Speaker, the Conservatives are blinded, I think, by their pessimism and negativity. They cannot even see the opportunities that our government is seizing in the Canadian economy: $500 billion in new investment commitments from domestic investors; doubling non-U.S. trade by the year 2030; and projects such as Darlington, Contrecoeur, Grays Bay, Roberts Bank and Churchill Falls. These are generational projects that will secure long-term prosperity for Canadians. Budget 2026 next week, on November 5, will build on that progress. The Prime Minister says, “Fortune favours the bold.”

Leslie Church, Parliamentary Secretary to the Secretaries of State for Labour, for Seniors, and for Children and Youth, and to the Minister of Jobs and Families (Persons with Disabilities)

Liberal
“Our economy is strong and benefits all Canadians. We have the second-fastest growth and the best balance sheet in the G7, and we are creating more jobs per person than the United States. We are also working to lower housing costs, provide cheap child care, and invest in job training.”
  • Government answer in Question Period

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  • Government answer in Question Period

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Official Hansard

Mr. Speaker, let me put a few facts on the record for the member. We are building a strong economy that benefits all Canadians. We have the second-fastest growth in the G7 and the best balance sheet in the G7, and we are the most competitive country for business investment. We have higher per capita job creation than the United States. This is a government that is focused on what matters to Canadians, like bringing the cost of housing down, ensuring that they have affordable child care and ensuring that there are investments in the skills, training and education that they need to build the brightest future possible. That is our record.

Joël Lightbound, Minister of Government Transformation, Public Works and Procurement and Quebec Lieutenant

Liberal
“Families in the member's riding benefit from our child support money and dental plan. Does he tell his voters that he always votes against these programs?”
  • Government answer in Question Period

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Official Hansard

Mr. Speaker, no one can remain indifferent to the account he shared concerning his constituent. Keeping in mind those families who are struggling to make ends meet, for example, let us look at the Conservative reality. At every turn, they vote against measures that have a real impact on people’s lives. I am thinking of the member opposite and, more specifically, his riding of Richmond—Arthabaska—des-Sources, where 20,587 children are receiving an average of $4,176 a year through the Canada child benefit, and 34,563 of his constituents are benefiting from the Canadian dental care plan. I know he is very active in his riding. Does he tell the people he meets that he has consistently voted against all these measures that are helping residents?

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