Finance

Question period on finance ahead of Thursday’s budget. The Bloc Québécois asked whether the budget would address Quebec’s interests, including protection from foreign Internet and energy companies, a doubled grocery rebate, removal of GST on used goods, a pension increase for seniors 65 to 74, a $2-billion reserve for tariff-related job losses, help for forestry companies, and action on housing and homelessness. The Liberal minister pointed to past cultural funding, tax cuts, the dental care plan, child and grocery benefits, and a $10-billion infrastructure agreement with Quebec, and said to wait for the budget. Conservatives asked whether the government would keep its fiscal anchor of a declining deficit-to-GDP ratio, questioned its use of the IMF net debt calculation that includes Canada Pension Plan assets, and raised projected debt service costs approaching 14% of revenue. Liberals replied that Canada has the strongest fiscal position in the G7 and a top credit rating, cited GDP growth, exports and investment, and said the budget, titled “Masters of Our Destiny,” would invest in affordability.Written by AI from the debate. Updated .

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7 statements

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.

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?

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.

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.

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—

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.

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”.

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