Carlos Leitão · TranslatePolitics.ca

Oral Questions

The Economy

2026-05-29

“I want to repeat myself so it sinks in: there's no recession. The real problem is trade with the U.S. We have a plan for that.”

“I'm going to fuss about the rules to avoid answering the question.”

“I want to argue that Canada isn't in a recession even if there are reasons it might look that way. I could throw around numbers to support that, but I won't, because the real message I want to push is that it's all because of some external trade stuff and a conflict overseas, not anything we did. But don't worry, we've got this.”

Statements by Members

710 Ste-Rose Squadron

2026-05-28

“I want to cheer for a program that spends money in my riding.”

Official Hansard

Mr. Speaker, I rise today to mark the 65th anniversary of 710 Ste-Rose Squadron, a remarkable institution in our community that has been inspiring and training generations of young people for 65 years. Through its commitment to leadership, discipline, service, and excellence, 710 Ste-Rose Squadron plays a vital role in the development of our youth, instilling in them values that will stay with them for life. I would like to pay tribute to the cadets, instructors, volunteers, families, and everyone who has contributed over the decades to the success and reputation of this vital squadron. On behalf of the people of Marc-Aurèle-Fortin, I congratulate 710 Ste-Rose Squadron on its 65th anniversary and wish it a long and successful future.

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Government Orders

Business of Supply

2026-05-26

“I want to cheer for a program that spends money in my riding. Ask the minister to say nice things about it too.”

“The IMF praised Canada's economy. I want the minister to say this helps him get more money from investors.”

“Lots of flattery for you. I get to look good asking you to talk about a financial term that makes us sound good. You get to talk up our record with a fancy statistic.”

“I want to defend our economic record. Conservatives are too simplistic. The economy is complex. Canada is resilient and growing. Our AAA rating means our fiscal house is in order. I'm going to ignore the broken supply chains and inflation caused by government spending during the pandemic.”

Official Hansard

Mr. Chair, it is my turn to talk about Bill C-30 and to talk about the economic context in which our economic update was presented recently and, especially, the Canadian economy. What we have witnessed in the last year at least, since I have been here, is that our colleagues from the official opposition have developed this skill of offering really simplistic solutions to what are highly complex and serious problems. In that context, let us talk about the economic update. It was an economic update, not a budget, but of course, there were some fiscal measures that were also announced in the budget. What does the economic update tell us? To start with, the economic update tells us that the deficit for 2025‑26 in fact turned out to be about $66.9 billion rather than the $78.3 billion that had been forecast back in the November budget, so there was an improvement of about $11 billion in the public accounts of the government, of the country. Why was the deficit less than expected? It has nothing to do with the high price of oil. Conservatives talk about the GST on oil and say that it causes oil prices to go up and that is where the government makes its money, etc. No, the deficit was $11 billion less than what had been anticipated earlier because the economy in 2025 was much stronger than what had been expected. Government revenues were higher, and government spending was lower. That is where that $11 billion comes from. Not only is the economy of Canada a resilient economy that has been able to withstand severe shocks, but it grew at a reasonable pace when compared with our neighbours and peer countries. The economy of Canada is not broken. We are in fact leading the way among the G7 countries, which is recognized by our peers. That brings me to the next point I want to make, which is that this proves that Canada really has considerable fiscal strength. Our fiscal house is in order. We have a deficit of 2.1% of GDP, which, when we compare it to peer countries, is perfectly manageable. That deficit is projected to go to 1.4% of GDP by 2030, so the deficit is on a downward track. The debt-to-GDP ratio is at about 41% and will remain around that level in the fiscal framework into 2030 as well, which gives Canada a AAA rating. How can a country with a AAA rating have a broken economy? It does not. It does not make sense. We have a AAA rating because our fiscal house is in order and because our economy is growing despite the severe headwinds and shocks. By the way, I remind all members of the House and all those listening to us with great enthusiasm that this Friday, the GDP numbers are coming out for the first quarter. I do not know what those numbers will be, but I am pretty certain that Q1 GDP growth will be fairly strong. We hear this business that Canada has the fastest-shrinking economy in the G7. No. In fact, we have one of the fastest-growing economies in the G7 despite the shocks and the very uncertain context in which we are operating. I would like to take some time to talk about that context. It is important to talk about the economic context because context is everything. Our colleagues from the opposition keep on saying that “2014 was this, 2014 was that, and 10 years later, blah blah blah.” The context is very important. We could go all the way back to 2007-08 and the financial crisis. I will not go that far, but I think we could because the world economy did go through a severe shock in 2007-08. The adjustment that took place afterwards took some time and left some scars globally. What has happened since 2020? We had the pandemic. The economy shut down. Governments in the OECD area shut down their economies because no one knew what was going to happen. Everything was stopped. To prevent a massive depression, because that was what was going to happen if nothing was done, governments in the OECD area spent massively to support their economies. The Conservatives will say we wasted all that money. If governments had not done that, then the OECD economies and the global economy would have slipped into a major depression. That was a big shock in 2020. It was then followed by an economic rebound, a very sharp rebound, that took place in late 2021 into 2022, and it was a rebound in the context of broken supply chains. The result of that was massive upward pressure on prices. Inflation took off in the OECD area. It was not a “Liberal deficit”. Were the Liberals also responsible for the U.S. deficit, the German deficit and the French deficit? Let us be serious. It was a result of the sharp rebound with broken supply chains, compounded by the war in Ukraine. The war in Ukraine led to, among other things, a very sharp increase in the prices of oil and other products, like grains. The global economy was already unbalanced in 2022-23. It was a very different environment than what we had before. New solutions and new proposals had to be put in place because the times were very different. As if that was not sufficient, then what did we have in 2024-25? A new administration in the United States decided to trigger a trade war. The world as we knew it is no longer the same. The United States, our trusted ally, no longer wants to buy things from Canada, because it claims it does not need anything from Canada. It does, but that is what it claims. Therefore, we have this weird world of 50% tariffs on aluminum from Canada in the name of the national security of the United States. The U.S. actually needs Canadian aluminum. We have a very complex world. The tariff war is real. The tariff war is something we did not ask for. The tariff war is what is leading to profound adjustments in our manufacturing sector and in our economy as a whole. As our Prime Minister has repeated over and over again, this is not just a simple adjustment. This is a rupture in the world as we knew it, and the world now is different. The world has changed. That is something provincial premiers have fully realized. Whether it is Mr. Ford in Ontario, Ms. Smith in Alberta or Mr. Moe in Saskatchewan, all Conservative premiers, they have realized the world has changed and Canada has to adjust to this new world order. Then, as if that was not enough, we have the war in the Middle East, which has led to a doubling of oil prices. That is a very different context that requires serious measures, which is what was done—

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“I don't want to argue your real point about taxes and waste driving up gas prices today. I want to quibble with your chosen oil price comparison year to dodge the real issue. Talking about a detail in 2014 might make me look smart and let me avoid saying anything about affordability now.”

“I won't vote for the Conservative plan to stop taxing fuel. Suspending one tax for four months already costs a lot. The Conservative plan costs even more but they have no way to pay for it.”

“I want to use a question about seniors to guess what my opponents might do. Do you think those bad people would cut this giant spending program?”

“I understand why people are worried about high gas prices. But high prices are not the government's fault. Oil prices are high everywhere, not just in Canada. Cutting gas taxes would just help rich people.”

“I want to cheer that the Bloc will vote with us against the Conservatives. I want to say the Conservatives are wrong about gas prices. Do you like our grocery benefit? We named it something new and we say it's well-targeted.”

Official Hansard

Mr. Speaker, I would like to congratulate my colleague on his speech, and I thank him for reiterating that the Bloc Québécois will be voting against this motion. We are on the same page, which is great. I would also like to thank my colleague for pointing out that, lately, our Conservative friends have often referred to the price of gas in 2014. However, what the Conservative members are saying is factually incorrect. I want to thank my colleague for pointing that out as well. Now I have a question about the groceries and essentials benefit. Does my colleague not think that this is a well‑targeted benefit? We did not simply change the name of the transfer. We are using the GST credit criteria to target those most in need.

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“I want to cheer for my party's program that spends money so people like us.”

“Don't say oil prices were the same in 2014. That's not true. Oil prices changed a lot that year. High oil inventories made gas prices low, not taxes. Now, about help for families - should it go to everyone, even the rich? Or only to those who need it most?”

Official Hansard

Mr. Speaker, before I ask my question, there is something that the members opposite have been saying over and over again, which is that, in 2014, oil prices were what they are now and gasoline prices were much lower. That is just not correct. It is factually incorrect. Perhaps they should stop saying that. Oil prices started 2014 at $100 a barrel, and they closed the year at $57. That was the year of shale oil in the U.S. There were massive oil inventories, and that is why gasoline prices came way down. It is not the taxes. Come on. My question is about support for families. Does my colleague think assistance to families should be targeted, or should it be generalized so that rich people get the same relief as poor people?

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Government Orders

Business of Supply

2026-05-05

“We promised to get the best deal. Things changed since then. We're still trying to deliver.”

“Our goal is not just to remove tariffs. We want a big trade agreement too. Tariffs are bad and illegal. We can't be vulnerable to them.”

“The forestry sector is having problems. This is different from manufacturing problems. We want to make a deal with the United States. Negotiations are happening.”

“That's true. We have regional programs for that. Quebec's one just got more money. Those smaller businesses can get some from there instead.”

“I'm saying something nice about free trade because that goes over well. I'm trying to make us look good by tying any increase in exports to a trade agreement the previous government signed. I don't really say how.”