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Finance

In question period on finance, Conservatives criticized the government’s economic update, saying the Prime Minister is borrowing roughly $25 billion for a new investment fund rather than building one from surpluses, and that the deficit has doubled from about $31 billion to $65 billion a year. They also raised a $37-billion increase in spending, rising debt projections, food price increases, and said Quebec was not consulted before a new trades training program was announced. Liberals replied that Canada has strong growth and fiscal standing in the G7, that spending on trades training for over 100,000 young people, major building projects, and help for workers affected by the trade war will grow the economy, that the IMF supports the plan, and that government operating costs are being reduced. They asked the opposition to support the plan.Written by AI from the debate. Updated .

Official text

10 statements

Eric Lefebvre

Conservative
“The Prime Minister says he is creating a sovereign wealth fund, but he is borrowing $25 billion to do it. Real wealth funds are built from extra money, not borrowed money. The government is running a record deficit, and future generations will have to pay for it.”
Official Hansard

Mr. Speaker, the Prime Minister wants us to believe that he is creating a sovereign wealth fund. That is incorrect. A sovereign wealth fund is built with years of surpluses, budget surpluses and natural resource development. It is not built by charging $25 billion to Canadians’ collective credit card. The Liberals just ran up a record deficit, the biggest deficit outside of COVID-19. They are running up a record deficit without proving that they can manage public funds well. How can the Liberals use the credit card of future generations so shamelessly?

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Steven MacKinnon

Liberal
“We need to spend money on job training and big building projects. This will create jobs for young people and construction workers.”

  • Government answer in Question Period

    Relevance 35 of 100

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

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Official Hansard

Mr. Speaker, let us talk about future generations. My colleague just mentioned the need for workforce training in Quebec and in the rest of the country. We also need to invest in ourselves and in major infrastructure projects. We are going to enable Canadians to benefit from construction and from building a better Canada. We are going to create job opportunities for our young people, job opportunities for the construction trades. We are going to benefit from our workforce and our investments. That is what building Canada is about.

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Eric Lefebvre

Conservative
“The Liberals are spending too much money instead of cutting costs, and they announced a job training program without even telling Quebec. They will add $321 billion in debt by 2031. I want to know why they are spending like this when Canadians are struggling.”
Official Hansard

Mr. Speaker, we are talking about workforce training, and yet Quebec was not even aware of this program before it was announced yesterday. A $37-billion increase in spending is not a cut. That is more spending. The Globe and Mail reported this morning that, in the upside-down land of the Liberals, a spending spree is a spending cut and blowing a windfall of billions of dollars is prudent. I hope members are sitting down, because I have some disappointing news. By 2031, the Liberals will have saddled our children and grandchildren with $321 billion in debt. How can the Liberals spend so recklessly when Canadians are struggling to make ends meet?

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Steven MacKinnon

Liberal
“Only the Conservatives are unhappy. We are helping young people start careers, buy affordable homes, and build a good future in Quebec and Canada.”
Official Hansard

Mr. Speaker, the only ones who are disappointed are that member, his inner circle and his party. Over here on this side of the House, we are helping young people launch their careers, helping them buy an affordable home and helping them look forward to a better economic future in Quebec and Canada. Over here on this side of the House, we are creating things and managing carefully.

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Dominique Vien

Conservative
“The Prime Minister is spending too much money and doubling the deficit. This makes life harder for Canadians. I want him to stop these costly budgets.”

  • A repeated line

    “When will the Prime Minister put an end to his costly budgets so that Canadians can make ends meet?”

    Said 3 times by 2 members since April 27.

    Every time it was said
Official Hansard

Mr. Speaker, the Liberals are carrying on with their decade of costly budgets, which, of course, are being charged to the credit card. This Prime Minister has doubled the deficit left by former Prime Minister Trudeau. Who would have thought? The Globe and Mail condemns this upside-down land where this government’s spending spree is considered prudent. The Liberals are spending more, but Canadians have less. When will the Prime Minister put an end to his costly budgets so that Canadians can make ends meet?

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Mélanie Joly

Liberal
“Our economy is strong. We have the second-highest economic growth in the G7 and the best financial position. We are helping businesses and workers hurt by the trade war. We are also creating a national fund to invest in our own economy.”

  • A repeated line

    “We have the second-fastest growth in the G7.”

    Said 12 times by 5 members since April 24.

    Every time it was said
Official Hansard

Mr. Speaker, we are building a strong economy and we have all the data to prove it. We have the second-largest economic growth in the G7. We also have the most enviable fiscal position in the G7. That being the case, what are we doing? We are helping our businesses and workers who are affected by the trade war. We are establishing a sovereign wealth fund to demonstrate economic nationalism, just as Quebeckers did in the 1960s when we decided to take control of our own destiny. That is the vision that inspired us to stand up for ourselves and create prosperity here at home.

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Dominique Vien

Conservative
“The Prime Minister borrows too much money. Economists warn that our national debt is getting dangerous. Canada has the worst food price increases in the G7. I want to know why the government keeps using policies that make gas, food, and housing more expensive.”

  • A repeated line

    “We have the worst food inflation in the G7.”

    Said 4 times by 3 members since April 23.

    Every time it was said
Official Hansard

Mr. Speaker, it is the way they have chosen to do it that is not right. The Prime Minister is following the same borrowing policies as his predecessor. Economists are sounding the alarm. Without measures to boost productivity, the weight of the debt relative to the economy will rise to a breaking point. We already have the worst food inflation in the G7. Why are the Liberals stubbornly following this path that is forcing Canadians to pay more for gas, groceries and housing?

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Mélanie Joly

Liberal

Linked statement

“The Conservatives do not understand the urgency in our economy and would do nothing about the trade war. Our plan is working, and the International Monetary Fund agrees. We are cutting government operating costs while investing in building projects to help our economy grow.”
Official Hansard

Mr. Speaker, I think that my Conservative colleagues do not understand the sense of urgency in the Canadian economy. They would look at the trade war and twiddle their thumbs while standing back and doing absolutely nothing. What we are doing, in essence, is reducing the government’s operational spending. We are making sure that we are spending less while investing in capital projects. We are making sure that we create investments. It is all working, as the IMF has confirmed. We will continue creating prosperity here at home.

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Gabriel Hardy

Conservative
“The government doubled the deficit in one year, from $31 billion to $65 billion. Canada now spends more on interest than on healthcare for all provinces. I want to know why the government keeps raising spending, taxes, and debt.”

  • Opposition question in Question Period

    Respect 81 of 100

    This statement targeted a person rather than their actions or views: “Under the former prime minister, a drama teacher”.

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Official Hansard

Mr. Speaker, the more things change, the more they stay the same. These same Liberals have doubled the deficit in a single year. Under the former prime minister, a drama teacher, the annual deficit stood at $31 billion. Today, with a Prime Minister who knows a thing or two about economics, the deficit has climbed to $65 billion. That means higher taxes, more credit card spending and more debt for Canadians. The annual interest payments alone are more than the total health transfers to all the provinces. Why is it that, with the Liberals, there is always more spending, more taxes and more risks being taken with taxpayers’ money?

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Anna Gainey

Liberal
“We want to spend over $6 billion to train more than 100,000 young people in the skilled trades. These workers will build major projects across Canada. I want the opposition to support our plan.”

  • Government answer in Question Period

    Relevance 46 of 100

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

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Official Hansard

Mr. Speaker, in yesterday’s economic update, we proposed investing over $6 billion to recruit and train more than 100,000 young people in the trades. These new workers will help us build a strong Canada and deliver major projects across the country. We are investing in our young people and in our country, and I hope that the members opposite will support the plan that was presented yesterday.

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