Anthony Housefather

“I am asking everyone to agree to let me split my speaking time with another member.”

“Mr. Speaker, I would like to start by seeking unanimous consent to share my time with the hon. member for Prescott—Russell—Cumberland.”

In response to a question from Melissa Lantsman

“Hating Jewish people is a crisis in Canada. That is why our government condemned the recent events in Montreal, introduced a bill against hate crimes, and spent more money to protect Jewish communities.”

“Mr. Speaker, I agree with the member. There is a crisis of anti-Semitism in Canada. That is why the government denounced, through the Minister of Public Safety, what happened in Montreal last weekend. That is why we put forward the combatting hate act to listen to the demands that the Jewish community has been making for the last three years. That is why we augmented funding for Jewish community security across the country. The Prime Minister and every single member of this caucus is committed to the safety of Jewish communities across the country.”

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“The government is already in court defending private property rights with expert lawyers. Does the member really think a committee of politicians can make better legal arguments than those experts?”

“Mr. Speaker, the Prime Minister spoke very clearly in this House, making it very clear that the government was going to defend private property rights and that the government immediately appealed the decision. My question is for the hon. member whose speech I just listened to. I felt there were multiple times when it sank into disinformation. Does the hon. member believe a parliamentary committee would develop arguments for the court that are better than those of the expert constitutional lawyers who are currently arguing on behalf of the Government of Canada and being instructed to use every type of argument available to defend property rights?”

In response to a question from Xavier Barsalou-Duval

“These projects are not too risky for private investment. When the government backs them, it encourages other investors from Canada and around the world to put money into them too. I would invest my own money in them, but rules for parliamentary secretaries mean my finances are in a blind trust that I cannot control.”

“Mr. Speaker, I would like to say two things. First, no one said that these projects were too risky for private investment. This is about attracting other investments. By showing that Canadians and the Government of Canada believe in those projects, we will attract private investment from here and other countries. Second, I would be very excited to invest my money in it, but I am not allowed to as a parliamentary secretary because I do not manage my own finances. My money is in a blind trust that I am not allowed to look at or manage.”

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In response to a question from Scott Anderson

“It makes sense for our country to borrow money to build big projects. This grows our economy for the long term while keeping our debt manageable compared to other wealthy nations.”

“Mr. Speaker, I find it hard to believe that the member is actually equating an individual’s own wealth with the country’s obligation to fund massive projects within the country. The idea of countries borrowing to enable to grow their economies is not something new. Obviously, there needs to be fiscal prudence. The government’s plan balances that fiscal prudence with a very solid balance sheet of the lowest debt-to-GDP ratio in the G7 economies, with an idea that we need to build strong nation-building projects going forward. This is a way for the country to benefit from those projects long-term, as well as for individual Canadians to put up their own money to join in investing in those projects.”

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“Our economic plan is working. Canada has low debt, growing jobs, and strong foreign investment. We are also creating a $25-billion fund to invest in energy, minerals, and infrastructure alongside private businesses. I want everyone in the House to support it.”

“Mr. Speaker, I will be sharing my time with the member for Saanich—Gulf Islands. It is a pleasure to participate in today’s debate on the government’s plan to build a stronger, more independent and more resilient Canada for all. It is a plan that builds more affordable homes. It is a plan that builds major infrastructure. It is a plan that will help transform our economy. It is also a plan that will bring down costs to help Canadians get ahead. With the spring economic update announced earlier this week, we are providing a clear and transparent account of how Canada’s economy is performing in an increasingly uncertain world. We believe this transparency is critical to help businesses seize new opportunities and give families the confidence to plan for their future. Central to this plan is an announcement made earlier this week by the Prime Minister and the Minister of Finance that we are launching Canada’s first sovereign wealth fund, the Canada Strong fund. Through an initial federal contribution of $25 billion over three years, the fund will strategically invest, alongside the private sector, in Canadian projects and companies driving our economic transformation. This includes projects in clean and conventional energy, critical minerals, agriculture and infrastructure. The returns will be reinvested to grow the Canada Strong fund, strengthening its capacity over time. As the fund grows, it will direct capital towards investments with the highest potential return for Canada and Canadians. To ensure that Canadians have the option to invest in the growth of our nation and share in returns, the government will launch a retail investment product. This will give Canadians a direct stake in our nation’s long-term prosperity and help build long-term national wealth. The federal government will be holding consultations in the coming months on the specifics of this new initiative. Further details about the fund will be provided in the coming months. Canadian companies and investors are coming forward to build Canada’s future, and investors from all around the world are choosing to invest in that future. The transformative projects and companies they will help build will create a stronger, more independent and more resilient economy for all Canadians. The Canada Strong fund takes that one step further, making sure that all Canadians are the beneficiaries of the financial results that these projects will generate. That, quite simply, is a vote of confidence in Canadian entrepreneurs, Canadian businesses and Canadian workers, because on this side of the House we know that despite the tremendous economic headwinds we are facing, the Canadian economy is uniquely positioned to grow and thrive in the 21st century. The private sector knows this; the international community knows this, as evidenced by the fact that foreign direct investment just reached a 20-year high; and Canadians know it, which is why they are so excited to invest in our future shared prosperity via this fund. We are doing this because we know that the geopolitical and economic changes we are witnessing are sudden and unprecedented. As the spring economic update outlines: The global economy is more than a year into a profound rupture. Economic security, industrial policy, and geopolitical competition are increasingly shaping investment, trade, and financial decisions. The recent conflict in the Middle East—which has disrupted key shipping routes and damaged energy infrastructure—has pushed energy prices higher, underscoring the fragility of global supply chains, and adding to the already elevated uncertainty. Despite this environment, Canada’s economy continued to expand, growing by 1.7 per cent in 2025. The economy avoided a recession and domestic activity remained solid, even as tariff increases [from the United States] and trade tensions weighed on activity. North American supply chains [were more resilient] than expected, with...(CUSMA) protecting approximately 85 per cent of Canadian goods exports from recent U.S. measures. That is not to say that, for the 15% that are not protected, there is not significant uncertainty that we need to work together to deal with. The update continues: Businesses and workers have shown remarkable resilience in the face of [significant] uncertainty. Business sentiment has recovered and firms are diversifying suppliers and markets. Canada also continues to attract significant global capital—leading the G7 in per capita direct investment inflows— and the Statistics Canada survey of planned capital expenditures for 2026 indicates that businesses plan to step up capital spending this year. Reflecting this adaptability, the International Monetary Fund...expects Canada to post the second-fastest growth in the G7 over 2026 and 2027. Labour market conditions have remained resilient. Since the start of 2025, Canada has added nearly three times as many jobs per capita.... The majority of those jobs have been in the private sector.... Wage growth has now outpaced inflation for more than three consecutive years, supporting continued gains in real incomes. From a fiscal perspective, economic resilience, bolstered by government policies to respond to immediate challenges through temporary supports, is delivering an $11.5 billion improvement in the projected 2025-26 budgetary balance.... This strength carries into future years, improving the budgetary balance, relative to budget 2025, by an average of $10.7 billion per year from 2026-27 to 2029-30 before new measures. [This fiscal room allows the government] to improve affordability and raise Canadians’ standard of living through targeted and responsible policy measures, particularly in the areas of fuel, food, and housing affordability. The move to invest more in Canadians started with budget 2025. According to the spring economic update: Budget 2025 marked a strategic shift in the government’s management of public finances, focused on expanding federal capital spending to mobilise investment, while maintaining fiscal responsibility. With significant investments to support infrastructure, innovation, and the development of domestic industrial capabilities, Budget 2025 set out a clear plan to build the strongest economy in the G7. This fiscal plan remains rooted in fiscal responsibility—not for its own sake, but to create the capacity to invest in long-term economic strength and greater self-reliance. Consistent with this approach, decisions in the Spring Economic Update are guided by the government’s two fiscal anchors: balancing operating spending with revenues by 2028-29 and maintaining a declining deficit-to-GDP ratio. This is good news for Canadians, even if it is bad news for my Conservative colleagues. I think we need to talk Canada up. We need to boost our economy. We will continue to move our plan forward. These are serious times, and in a world of geopolitical instability, governments need to rethink how they respond to headwinds and build resilience for the future. Standing still is not an option, as inaction and underinvestment can carry significant costs, including slower growth, diminished competitiveness and weaker security. Thankfully: Canada starts from a position of strength to turn this moment of global uncertainty into one of national opportunity. Canada’s net debt-to-GDP ratio stands at just 10.2 per cent, compared to the G7 average.... Canada’s net debt burden today is lower than that of any other G7 country, and is even below the levels of those countries prior to the pandemic. Canada also has one of the smallest deficits in the G7 as a share of the economy. This fiscal advantage gives the government the capacity—and the responsibility—to act to build a stronger economy to make life more affordable, to create high-paying jobs, to take care of each other and to determine our future. Canada’s fiscal position also stands out among 30 other advanced economies, with a below-average deficit-to-GDP ratio and one of the lowest net debt-to-GDP ratios in the group. Canada is also one of the only two G7 economies, alongside Germany, to maintain AAA ratings from major global credit rating agencies. These AAA ratings support investor confidence and help keep borrowing costs as low as possible. As I indicated before: In [an] uncertain world, the government’s focus on what [we] can control—delivering lasting economic benefits for Canadians who are reinforcing fiscal discipline—will help ensure Canada maintains this fiscal advantage going forward. With the spring economic update, the government showed that Canada’s fiscal strength remains strong while we continue to invest for Canadians where it counts, building Canada’s prosperity today and for the next generation. The Canada Strong fund is a key pillar of that plan. We are catalyzing a series of nation-building projects in energy, trade, critical minerals, transport, data and beyond, projects that will make Canada stronger, more resilient and more independent. Through the Canada Strong fund, all Canadians will have the opportunity to share directly in the benefits. This is their country. This is their future. This is our country. This is our future. We need to build it together, and I would encourage all my colleagues to support the Canada Strong fund.”

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  “Balancing operating spending with revenues by 2028-29 and maintaining a declining deficit-to-GDP ratio.”

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“Canada compares well to other G7 countries on many measures. The opposition ignores these numbers when they are good, but uses them when they are bad. I want the member to explain this contradiction.”

“Mr. Speaker, I thank my hon. colleague for his passionate 20-minute speech. I— An hon. member: Oh, oh! Anthony Housefather: I also thank the member for Lakeland for having the best laugh in the House. Mr. Speaker, it is funny that there are so many statistics related to Canada’s performance within the G7 that are so favourable to Canada, and yet some in the opposition basically say, “Well, it doesn’t matter. We’re only comparing ourselves to ourselves, so what does it matter what the debt ratio is in France or in England?” Then with other statistics that they say are negative, they spout the same G7 statistics. Does the member find that to be a contradiction?”

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“This type of fund has worked well in countries like Norway and Singapore, even when they did not have extra money to start with. Why does the member think it will not work here?”

“Mr. Speaker, my hon. colleague has really talked down this type of fund, which has been enormously successful in countries like Norway and Singapore. Both countries started the fund in similar types of ways when they were not running a surplus. Can I ask the member why he feels this type of fund is so unsuccessful when parallel funds have worked in so many other places?”

“The Conservatives lost a lot of votes in recent by-elections. I want to know why the member thinks Canadians disagree with him so much.”

“Mr. Speaker, in fact, I have recently been going door to door. I knocked on a lot of doors in Terrebonne. Given the results of the three recent by-elections, where the Conservative vote plummeted in Terrebonne, I think going from 18% to 3%, and lost half their vote in both University—Rosedale and Scarborough Southwest, I am wondering why the member thinks that Canadian voters as a whole are so blind to the brilliance that he brings to the debate.”

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“Our government is helping young people get summer jobs and train for skilled trades. We need these workers to build homes and key infrastructure, so we are spending almost $1 billion each year on apprentice programs.”

“Mr. Speaker, I do not share the pessimistic outlook of my colleague on this issue or others. I do believe that we want to make sure every young person in this country has the chance to find gainful employment, because young people are the drivers of Canada’s future economic growth, and everybody has a right to live in this country with opportunities. I want to talk about some of the opportunities that we are providing right now. For example, a career often starts with a summer job. Since 2019, the Canada summer jobs program has helped more than 600,000 young people find a summer job. Over 75,000 of those jobs were created last year, and up to 100,000 opportunities will be available for young people this summer. All told, we are supporting over 175,000 opportunities for youth and students this year under the student work placement program and the youth employment and skills strategy, which includes Canada summer jobs. We need to make sure we support young people getting into our skilled trades. I was the parliamentary secretary for labour a few years ago, and one of the most important things we all know is that we need to build more homes and build more transmission lines to power AI. We will be building ports, rail and pipelines to move critical minerals. We cannot do that if we do not have electricians, carpenters, plumbers and bricklayers. We also need millwrights and many more tradespeople, and we need them right now. This is where an enormous opportunity lies for many young Canadians. We are investing nearly $1 billion annually in apprenticeship support through loans, tax credits, employment insurance benefits during in-school training, project funding and support for the Red Seal Program. In November, when we presented budget 2025, we updated the government’s plan to make a generational investment in young Canadians, prepare them for good jobs and renew Canada’s workforce. To train the newest generation of Canadian builders, budget 2025 expanded the union training and innovation program with $75 million over three years. This will boost union-based apprenticeship training in the Red Seal trades and make sure there are Canadian workers to help build major infrastructure and millions more homes across the country. Since 2017, the union training and innovation program has invested $278 million to modernize training equipment, strengthen union training centres across the country and support skilled trades training opportunities for more than 173,800 individuals. This is a critical time, but Canadians are meeting this moment with strength and conviction, and the Government of Canada is looking right now to help Canadians unlock Canada’s economic potential. Through 2033, over eight million jobs will become available in Canada, and we are taking action to make sure that people get these jobs and that young people are prepared to meet the demand.”