The Economy

The debate centered on the performance of the economy and affordability for Canadians. Conservative members argued that the government’s fiscal plan is failing due to rising inflation and high interest rate costs for homeowners, asserting that spending must be reduced and focused on boosting productivity. Opposition members countered that the government is successfully taking action to help families, citing tax cuts and benefits designed to increase affordability. The government defended these measures against opposition claims that they are fiscally irresponsible or insufficient.Written by AI from the debate. Updated .

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4 statements

Michael Chong, Wellington—Halton Hills North

Conservative
“The government's economic plan is not working, and inflation is rising. The latest interest rate hike will cost typical homeowners over $1,100 more a year. When will the government bring in reforms to boost productivity, raise wages, and make life more affordable?”
Official Hansard

Mr. Speaker, today’s hike demonstrates the government’s economic plan is not working. Inflation is taking hold. According to the Globe, today’s hike means that the cost of a typical variable mortgage will rise $82 a month and a typical home equity line of credit $12 a month, or over $1,100 a year. When is the government going to introduce supply-side reforms to the economy to increase productivity and wages and to make life more affordable?

Michael Chong, Wellington—Halton Hills North

Conservative
“The government spends too much money, which drives up interest costs. High interest rates are costing families more than $1,100 a year for mortgages and loans. When will the government focus on increasing productivity and wages to make life more affordable?”
  • A repeated line

    “The government's economic plan is not working.”

    Said 3 times by 2 members since June 4.

    Every time it was said
Official Hansard

Mr. Speaker, the government’s plan simply is not working. It is focused on the demand side of the economy. It is spending more and more and driving up the cost of interest, which is the fastest-growing line item in the budget that is projected to chew up almost 14¢ of every dollar by decade’s end. Now the Bank of Canada is hiking the interest rate, driving up interest costs on mortgages, lines of credit and car loans. For a typical family, this amounts to more than $1,100 a year. Again, I ask the question, when will the government start focusing on supply-side reforms to increase productivity and increase wages to make life more affordable for Canadians?

Jasraj Hallan, Calgary East

Conservative
“The Prime Minister spends more money paying interest on our debt than he gives provinces for health care. He has doubled the national debt and the deficit. This year, interest on the debt will cost a family of four $6,000. I want the Prime Minister to come to the finance committee and explain this to Canadians.”
  • Opposition question in Question Period

    Respect 60 of 100

    This statement targeted a person rather than their actions or views: “like a typical Liberal elitist, the Prime Minister”.

    See full analysis
Official Hansard

Mr. Speaker, like a typical Liberal elitist, the Prime Minister is sending more money to his banker, bondholder and Brookfield buddies in debt interest than what goes to provinces in health care transfers. Just this year, a family of four will pay $6,000 in debt interest. Justin Trudeau doubled the debt. The Prime Minister took that as a challenge. He doubled down and doubled his deficit. Will the Prime Minister show up at the finance committee and tell Canadians exactly why he is so out of touch and why Canadians are so out of money?

Jasraj Hallan, Calgary East

Conservative
“The government needs to spend less money. Paying interest on our debt is our fastest-growing expense. Because of bad government spending, over two million Canadians now use food banks every month.”
  • A repeated line

    “The Prime Minister doubled Justin Trudeau's deficit.”

    Said 10 times by 10 members since April 27.

    Every time it was said
Official Hansard

Mr. Speaker, the measure of a success in this country should be how many government programs Canadians get off, not get put on to. Debt interest is the fastest-growing expense, more than health care and more than the military. It is the money that gets sent to the Prime Minister’s banker, bondholder and Brookfield buddies every single year. This guy said he would spend less, but he is all talk and no results. That is why 2.35 million Canadians visit a food bank every single month. The Prime Minister doubled Justin Trudeau’s deficit. Is he looking to double food bank lines too?

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