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 .

Official text (opens in a new tab)

7 statements

Carlos Leitão, Parliamentary Secretary to the Minister of Industry

Liberal
“Now is not the time to balance the budget. We are spending two-thirds of our financial support on the economy and investments. That is how we build a good future for our grandchildren.”
Official Hansard

Mr. Speaker, it has been said before that we should not be obsessed with balanced budgets. Now is not the time to get into that. I, too, want to ensure that my grandchildren have a bright future. That is where we are going with two-thirds of our financial support measures. Two-thirds will go toward supporting the economy and increasing investment. Investing in our new economy is how we are going to ensure a bright future for our grandchildren.

Rachel Bendayan, Parliamentary Secretary to the Prime Minister

Liberal
“The member has not read the full budget. Our numbers show the deficit dropped by 40% in 2025-26, and we balanced day-to-day spending a year early. We set two clear financial goals last year, and this budget meets both and goes further.”
Official Hansard

Mr. Speaker, I do not think my colleague has had the chance to read the budget in full. The figures we presented yesterday show that the deficit fell by 40% in 2025-26. In fact, we are balancing day-to-day spending a year ahead of schedule. Last year, we set two clear fiscal anchors: balance the operating budget and reduce the deficit-to-GDP ratio. The 2026 budget that we presented yesterday meets both of these anchors and goes even further.

Corey Hogan, Parliamentary Secretary to the Minister of Energy and Natural Resources

Liberal
“Stephen Harper ran deficits in seven of his nine years. Our plan is working in Alberta. We added 40,000 jobs this year, including 4,000 youth jobs. A pipeline and a carbon capture project are moving ahead. The Conservatives should support our plan.”
  • Government answer in Question Period

    Relevance 45 of 100

    None of this answer addressed the specific question that was asked.

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Official Hansard

Mr. Speaker, I just want to remind my colleagues across the way that Stephen Harper ran deficits in seven of nine fiscal years. In Alberta, we are seeing the plan we are putting in place go to work. We have 40,000 new jobs this year, 4,000 of which are youth jobs. We have the Pacific link pipeline under construction next year. We also have the pathways carbon capture project going. It is an exciting time to be a Canadian. It is an exciting time to be an Albertan. I really hope they get on board.

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
“Conservatives only celebrate when they think Canada is failing. We are using our economic strength to help Canadians with the cost of living. We cut taxes on income, housing, fuel, and business investments. Our economy is growing, with billions in new investment and 50,000 new jobs in my region alone.”
  • Government answer in Question Period

    Relevance 31 of 100

    None of this answer addressed the specific question that was asked.

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  • Government answer in Question Period

    Signal 38 of 100

    Much of this statement went to praise, blame, greetings, routine procedure or general stories rather than reasons, requests or specific points.

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  • A repeated line

    “That is how we build Canada strong.”

    Said 21 times by 14 members since April 23.

    Every time it was said
Official Hansard

Mr. Speaker, why does it seem that Conservatives only seem to celebrate when they think Canada is failing? It is as if they are confirming what they really want every day in the House. We are standing up and using the fiscal strength that Canada has to make the country stronger, to support Canadians with real affordability measures. We have cut taxes on income, housing, fuel and new business investment. We have seen the economy growing, and we are continuing to invest in jobs. In my region alone, 50,000 new jobs have been created by our government. There are billions of dollars of new investment. That is how we 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
“The 50,000 jobs I talked about are real, not just wishful thinking. Nuclear projects in Darlington and Pickering alone mean over 51,000 real jobs in my region.”
Official Hansard

Mr. Speaker, it is not aspirational when I mentioned 50,000 jobs. The new nuclear project at Darlington is 21,700 jobs in my region alone. The Pickering refurbishment project is another 30,000 jobs. Those are real jobs for real Canadians in my region. That is not aspirational. That is not hope. It is real action in the real economy, creating growth and good jobs for the future. That is exactly what we are about on this side.

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
“We cut taxes for 22 million Canadians and saved $60 billion over five years. Now our economy is growing. Our budget uses that strength to give 12 million Canadians more money for groceries and essentials. We will keep investing in them.”
  • Government answer in Question Period

    Relevance 44 of 100

    None of this answer addressed the specific question that was asked.

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Official Hansard

Mr. Speaker, one of the first things that our government did when elected was to cut taxes for 22 million Canadians. We then entered into a comprehensive expenditure review and found $60 billion in savings over five years from government operations. In the budget, we are leveraging that strength. We are enhancing the groceries and essentials benefit, offering hundreds more dollars per year to Canadian families. Twelve million Canadians are going to get more support this year as a result of the fiscal strength that our government has shown because our economy is growing. We will continue to invest in them.

Stephanie McLean, Secretary of State (Seniors)

Liberal
“This budget helps Canadians right now. It gives a family of four $2,570 for groceries and essentials. It pauses the fuel tax, removes the consumer carbon tax, provides $10-a-day child care, and feeds 400,000 kids at school.”
  • Government answer in Question Period

    Relevance 45 of 100

    None of this answer addressed the specific question that was asked.

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Official Hansard

Mr. Speaker, this budget puts money in the pockets of Canadians, not tomorrow, but today. We are increasing the amount of the Canadian groceries and essentials benefit so that, with this one-time top-up, families of four will receive $2,570. That is real money that they can put toward groceries and can use to ensure that their children have a good start. However, we do not stop there. There is no consumer carbon tax. We have put a pause on the fuel excise tax. There is $10-a-day child care and school meals for up to 400,000 children. They laugh. Some hon. members: Oh, oh!

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