Finance

During question period on finance, members debated the government’s recent budget and its deficit and debt levels. Conservatives said the projected deficits—including a $150 billion total deficit and $288.7 billion in operating deficits over five years, with total debt reaching $1.593 trillion—are burdening future generations, driving up debt interest costs of over $1 billion a week, and doing nothing to help Canadians facing job losses, high food prices and unaffordable housing; they asked the government to balance the budget and control spending. Liberal ministers and members replied that the deficit fell 40% in 2025-26, that day-to-day spending is being balanced a year ahead of schedule, that the government cut taxes for 22 million Canadians, found $60 billion in savings through an expenditure review, and is delivering measures like a groceries and essentials top-up of $2,570 for a family of four, a fuel tax pause, $10-a-day child care, and school meals. Liberals also pointed to job creation figures, including nuclear projects at Darlington and Pickering, and said Conservatives were focusing on bad news about Canada; Conservatives countered that the job-creation figures were aspirational while 50,000 private-sector jobs were lost in the last month.Written by AI from the debate. Updated .

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7 statements

Jacques Gourde, Lévis—Lotbinière

Conservative
“Liberal overspending is putting too much debt onto our children and grandchildren. The government plans to spend $288.7 billion more than it takes in over the next five years, bringing total debt to $1.593 trillion. I want the government to balance its budget.”
Official Hansard

Mr. Speaker, we cannot become masters of our destiny by mortgaging our grandchildren’s future. Canadians are trapped by Liberal debt. The projected deficit for the next five years is $288.7 billion, just for government operations, bringing the total to $1.593 trillion. When will the Liberal government start thinking about returning to a balanced budget?

Jacques Gourde, Lévis—Lotbinière

Conservative
“The government is spending money today and leaving the debt for future generations. I want the government to stop spending like this so our grandchildren do not have to pay for it later.”
Official Hansard

Mr. Speaker, the Liberals are pushing today’s problems down the road by cutting a cheque. They are offloading them onto my grandchildren. Maéva, Loïc, Béatrice, Delphine, Arthur, Mathilde, Clémence and Octave are calling on the Liberal government to take responsibility today so that they will not be crushed by debt tomorrow. Will the Liberal government finally listen to the people who are going to foot the bill?

Dane Lloyd, Parkland

Conservative
“The Prime Minister is spending too much money. Canada is projected to have a $150 billion deficit, we pay over $1 billion a week in debt interest, and we lost over 50,000 private sector jobs last month. I want the Prime Minister to stop this debt spending.”
Official Hansard

Mr. Speaker, the Prime Minister claims his budget will make Canadians masters of their own destiny but with this massive debt binge, the only masters are global bankers and bondholders. The total deficit, projected at $150 billion, undermines our economy. Debt interest payments are now over $1 billion each week, and the fiscal guardrails are far in the rearview mirror. Canada lost over 50,000 private sector jobs just last month. Unemployment is up. When will the Prime Minister finally master his credit card spending so that Canadians will not be mastered by his debt?

Dane Lloyd, Parkland

Conservative
“The government's deficit is really $150 billion, not $62 billion. Printing money is driving up inflation, and Canada lost 50,000 jobs last month. The Prime Minister must stop his out-of-control spending.”
Official Hansard

Mr. Speaker, if I mastered my own finances the same way the Prime Minister masters the budget, I would not qualify for a payday loan at Money Mart. The Prime Minister told Canadians his deficit was only a measly $62 billion but when he includes his so-called investments, it reaches $150 billion. This kind of accounting trickery would not get someone a bank loan from the Prime Minister, but he keeps printing money and driving up inflation. Meanwhile, Canada lost 50,000 jobs just last month. When will the Prime Minister finally get his costly credit card spending under control so that Canadians will not be mastered by his debt?

Garnett Genuis, Sherwood Park—Fort Saskatchewan

Conservative
“The government hopes to create 50,000 jobs over five years, but we just lost 50,000 private sector jobs in one month. The member needs to stop pretending things are fine and start fighting for struggling Canadians.”
Official Hansard

Mr. Speaker, let us talk a bit about that 50,000 figure. The member said that there is an aspiration in the budget to, at some point in the next five years, create 50,000 jobs. In today’s job report, released today, we hear that 50,000 private sector jobs were already lost in the last month. That is not an aspiration. Those are real concrete numbers reported not by the finance minister but by Statistics Canada. The government whip pretending that things are better than they are does not comfort Canadians at home who are struggling. He should stop pretending that things are better than they are and start fighting for people who matter.

Branden Leslie, Portage—Lisgar

Conservative
“The Prime Minister promised to lower costs and control spending, but he is borrowing billions of dollars instead. One in three Canadians is skipping meals because food costs too much. Taxpayers will be stuck with this debt. I want the Prime Minister to admit his plan has failed.”
Official Hansard

Mr. Speaker, the Prime Minister promised to make life affordable and get government spending under control. Instead, the Liberals gave Canadians a costly credit budget that should have been titled masters of debt. One in three Canadians is now skipping meals or eating less because they simply cannot afford groceries. While Canadians struggle to put food on the table, the Liberals continue to borrow billions and billions of dollars more, leaving taxpayers with the bill. How much debt does the Prime Minister intend to pile onto Canadians before he admits that his approach of just throwing it on the tab is no substitute for reasonable fiscal policy?

Branden Leslie, Portage—Lisgar

Conservative
“Liberal programs are not working. Families are struggling, and the government is spending $60 billion this year just on interest for its debt. That is more than we spend on health care. When will the Prime Minister present a plan to get spending under control?”
Official Hansard

Mr. Speaker, those programs clearly are not working, or they would not have put $100 million toward food banks that need more money to keep up with the pace of demand because of their policies. Families are already struggling with mortgages, groceries and gas. Half of Canadians say they have had to dip into their savings just to cover basic necessities, yet this year the federal government will spend $60 billion paying interest on the Liberals’ debt. That is more than we send to the provinces to deliver health care and nearly twice what families are provided through the Canada child benefit. With interest payments consuming more than 10% of the federal budget, when will the Prime Minister present a credible plan to get Liberal spending under control and reverse—

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