Finance

Official text (opens in a new tab)

14 statements

Yves-François Blanchet, Beloeil—Chambly

Bloc Québécois
“The government lets American companies have too much power over our culture, oil, and farming. They also use Quebec tax money to fund oil projects. Will the new budget stop these attacks on Quebec's interests?”
Official Hansard

Mr. Speaker, under this government’s policies, Americans may at times find themselves masters in our own house. They are when it comes to the Prime Minister’s cultural surrender to the Internet giants. They are through his betrayal of the climate and through the use of Quebec taxpayers’ money to fund pipelines and subsidies benefiting the American owners of oil companies. They are through the concessions this government was willing to make on supply management. Will the budget put an end to these attacks on the interests of Quebec, or will the Americans call themselves masters of our house?

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

Liberal
“We do not need lessons from the Bloc Québécois on protecting Quebec. In the last budget, we spent $750 million on culture, and we added another $600 million before they even asked. Wait for Thursday's budget. It will be good for Quebec and all of Canada.”
Official Hansard

Mr. Speaker, the question from the leader of the Bloc Québécois covers a lot of ground. I would like to point out, however, that we made historic investments of $750 million in culture in the last budget. We added $600 million to that amount before the Bloc Québécois even requested a dime for Quebec culture. The government is not about to take lessons from the Bloc Québécois. Now, I invite him to stay in the House until Thursday for the tabling of an excellent budget that is going to benefit Quebec and Canada.

Yves-François Blanchet, Beloeil—Chambly

Bloc Québécois
“The government needs to help Quebeckers with the cost of living. It should double the grocery rebate, remove the federal sales tax on used goods, and raise pensions by 10 percent for seniors aged 65 to 74. Will the government do this?”
Official Hansard

Mr. Speaker, perhaps it is time for this government to start delivering on the priorities of Quebeckers. Take the cost of living. What is the government waiting for to double the grocery benefit, which would provide up to nearly $300 for a family of four, scrap the GST on used goods, and increase old age security by 10% for seniors between the ages of 65 and 74? It is of course easier to ignore Quebeckers when they are not even allowed to speak, but these are the real needs of Quebeckers. Will the government finally address them?

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

Liberal
“We made life more affordable by cutting taxes for 22 million Canadians and helping with dental care, child care, and groceries. The Bloc Québécois should support these programs.”
Official Hansard

Mr. Speaker, when it comes to affordability, this government has delivered with a tax cut for 22 million Canadians, the Canadian dental care plan, the Canada child benefit and the Canada groceries and essentials benefit. What is the Bloc Québécois waiting for to get behind these initiatives?

Yves-François Blanchet, Beloeil—Chambly

Bloc Québécois
“The government's programs have not worked. We told the finance minister what we want in Thursday's budget. He must put aside $2 billion for lost jobs, help forestry companies hit by tariffs, and fix the housing and homelessness crises. Will the government meet our demands?”
Official Hansard

Mr. Speaker, we are waiting for them to work. This morning, we presented the Bloc Québécois’s expectations for Thursday’s budget. We invite the Minister of Finance to act on them. Will he respond to the tariff crisis, set aside a $2-billion reserve for job losses and offer an advance to offset the countervailing duties paid for by our forestry companies? Will he respond to the housing and homelessness crises and really help tenants? Will he extend the Reaching Home program to combat homelessness and finally respond to Pauline Marois’s demands? Will the government finally grant our requests and finally provide real solutions to real crises?

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

Liberal
“Our government has worked hard for Quebec. We signed a $10-billion deal with Quebec mainly for housing, made them our first partner to build homes across the province, and share their goal to end homelessness.”
Official Hansard

Mr. Speaker, over the past year and a half, our government has been working for Quebec. In case the member missed it, I would like to remind him that we reached a historic $10-billion infrastructure agreement with Quebec, for housing in particular. I want to point out that Quebec was the first province to partner with Build Canada Homes, which will build housing across Quebec. As for homelessness, we are on the same page as the Government of Quebec in our efforts to put an end to homelessness across the country once and for all.

Michael Chong, Wellington—Halton Hills North

Conservative
“I asked this question twice last week and got no answer. The Prime Minister promised to lower the deficit compared to the size of our economy. The parliamentary budget officer says the government will break that promise. Will the government keep it in the next budget?”
Official Hansard

Mr. Speaker, I asked this question twice last week but did not get an answer. It is an important question because it speaks to the fiscal credibility of the Prime Minister , so again I will ask it. Last budget, the Prime Minister established a fiscal anchor of a declining deficit to GDP. The PBO projects that the government will not keep to this fiscal anchor. Will the government keep to this fiscal anchor in the upcoming budget?

Wayne Long, Secretary of State (Canada Revenue Agency and Financial Institutions)

Liberal
“Our economy is doing well. We have strong growth, wages are beating inflation, and we have a top credit rating. The Conservatives are just talking our country down.”
Official Hansard

Mr. Speaker, in the last election, Canadians elected a leader with economic and business credentials that can lead our country and can rebuild, retool and pivot our economy. Let us look at some economic signs, despite the fact that the Conservatives do not want to hear them. We have the best net GDP in the G7, wages are outpacing inflation, and we have one of the fastest- growing economies in the G7 and the best credit rating in the world. On this side, we are laser-focused on building a strong economy. The other side of the House can continue to talk our country down.

Michael Chong, Wellington—Halton Hills North

Conservative
“The government uses Canadians' pension money to make its growing debt look smaller. Will the government stick to the debt limits it set in its last budget?”
Official Hansard

Mr. Speaker, the net debt calculation the government used in its last budget is the IMF’s net debt calculation, which includes the Canada pension plan. I am sure that Canadians listening would not like to know that the government’s calculation involves using the assets of the Canada pension plan to offset its rapidly growing debt. The Prime Minister came to office with a much vaunted fiscal resume, and again I ask the question, will the government keep to the fiscal anchors it established in the last federal budget?

Wayne Long, Secretary of State (Canada Revenue Agency and Financial Institutions)

Liberal
“When the economy faces challenges, we focus on building it up instead of blaming others. We just secured over half a billion dollars at an investment summit. We are doubling our exports to countries outside the U.S. and bringing in foreign investment at levels not seen in decades. We are building a strong economy for Canadians.”
Official Hansard

Mr. Speaker, when an economy is faced with challenges, we can do one of two things: We can blame everybody else and throw our hands up, or we can actually get down to building and to focusing on building a strong economy. We just hosted the Canada Investment Summit, where over half a billion dollars was pledged to build Canada strong. We are doubling non-U.S. exports at a pace not seen in decades. Foreign investment is coming into our country at a level not seen in decades also. We are focused on building a strong economy for Canadians—

Adam Chambers, Simcoe North

Conservative
“Paying interest on the debt is the fastest-growing cost in the budget. Experts warn that the government will soon spend nearly 14% of its revenue just on interest. The government does not seem to care.”
  • A repeated line

    “A former governor of the Bank of Canada.”

    Said 5 times by 5 members since April 28.

    Every time it was said
Official Hansard

Mr. Speaker, a former governor of the Bank of Canada, David Dodge, has a simple rule: The government should be wary when it spends more than 10% of its revenue on debt service costs. The Parliamentary Budget Officer says that figure will grow to nearly 14% in just a few years, and in fact, debt service payments are the fastest-growing line item in the budget. Does the government want this to be the fastest-growing line item in the budget? The Liberals’ actions suggest they do not even care.

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
“Canada has the strongest financial position in the G7 and a top credit rating, which keeps our debt costs low. What matters is what we spend money on. We are investing to help the economy grow, make life more affordable, and keep our country independent.”
Official Hansard

Mr. Speaker, Canada has the strongest fiscal position in the G7 and a AAA credit rating, which keeps our debt service costs low relative to our peers. The Bank of Canada governor confirmed in the finance committee today that it is not just how much governments spend but what, specifically, they invest in. Let us look at our track record. What are we investing in? We are investing in increasing the productive capacity in our economy. We are investing in affordability measures for Canadians. We are asserting our sovereignty. We are assuring that we have self-reliance and independence for the future. Our budget 2026 is called “Masters of our Destiny” for good reason.

Adam Chambers, Simcoe North

Conservative
“Past finance ministers kept their promises to lower the deficit. The Prime Minister is breaking his spending limits at the very first chance.”
Official Hansard

Mr. Speaker, I appreciate my colleague very much, but let us spare Canadians the lecture. When Paul Martin was the finance minister, he met every single deficit reduction target and fiscal anchor that was imposed. At the very first opportunity, the Prime Minister is choosing to break it. In fact, there has not been a finance minister in over a decade that has bothered to even care to keep the fiscal promise. What good is a promise if the Prime Minister has no intention of keeping it?

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 upcoming budget will keep investing in things that matter to Canadians. Having strong finances means nothing if we do not use them to help people during an affordability crisis.”
Official Hansard

Mr. Speaker, I am glad the opposition is very concerned with Thursday’s budget, called “Masters of Our Destiny”. That budget will continue our progress investing in the things that matter to Canadians. What does it matter if Canada has a strong fiscal position if it is not willing to use it in an affordability crisis, where Canadians want their government to stand up and help them? That is exactly what we are focused on. God forbid the Conservatives should write the budget. It would be called “Prisoners of Pessimism”.

Discussion

No comments yet

See the full discussion

Comment rules

More from sitting 161

  1. Government Orders Government Orders 107 statements
  2. Oral Questions International Trade 8 statements
  3. Oral Questions Major Projects Office 2 statements
  4. Oral Questions Finance 14 statements
  5. Oral Questions The Economy 6 statements
  6. Oral Questions The Environment 4 statements
  7. Oral Questions International Trade 5 statements
  8. Oral Questions Foreign Affairs 6 statements
  9. Oral Questions Natural Resources 2 statements
  10. Oral Questions International Trade 6 statements
  11. Oral Questions The Economy 2 statements
  12. Oral Questions Public Services and Procurement 4 statements
  13. Oral Questions Immigration, Refugees and Citizenship 2 statements
  14. Oral Questions Steel and Aluminum Industry 6 statements
  15. Oral Questions Canada Revenue Agency 2 statements
  16. Oral Questions National Defence 2 statements
  17. Oral Questions Health 2 statements
  18. Oral Questions Natural Resources 3 statements
  19. Government Orders Budget 2025 Implementation Act, No. 2 44 statements
  20. Oral Questions National Defence 8 statements
  21. Private Members' Business Respecting Families of Murdered and Brutalized Persons Act 11 statements
  22. Government Orders Budget 2025 Implementation Act, No. 2 21 statements
  23. Adjournment Proceedings Adjournment Proceedings 4 statements
  24. Adjournment Proceedings Adjournment Proceedings 4 statements
  25. Adjournment Proceedings Adjournment Proceedings 4 statements