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The Economy

Question period focused on the state of the Canadian economy. Conservative members, led by Pierre Poilievre, said Canada is in a recession, citing the Bank of Canada governor’s description of a soft economy, rising prices, job losses and people struggling to pay bills or keep their homes, and asked the Prime Minister to change the policies they said caused it. Liberal ministers replied with growth figures from the OECD showing Canada outpacing other G7 countries, said the Bank of Canada views the economy as resilient despite tariffs and wars abroad, and pointed to recent job gains and a trade surplus. Liberals also said the government is working with premiers on major energy projects and on responding to the trade war.Written by AI from the debate. Updated .

Official text

8 statements

Pierre Poilievre

Conservative
“Canada is in a recession. The economy is weak, and prices are rising. Will the Prime Minister change the policies that caused this?”
Official Hansard

Mr. Speaker, we just heard the bad news that Canada is the only country with two consecutive quarters of negative economic growth. That is the definition of a recession. Again today, we had bad news from the Governor of the Bank of Canada, who said that “the Canadian economy has remained soft and inflation has increased”. He went on to say, “Economic weakness combined with rising inflation is a dilemma” and that the economy was “weak”, a word he used nine times. Will the Prime Minister reverse the Liberal policies that caused this recession?

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François-Philippe Champagne

Liberal
“Canada's economy grew by 1.2%, which is faster than most other major countries. We are working to make our economy the strongest in the G7.”
Official Hansard

Mr. Speaker, I have good news for the Conservative leader. Germany posted growth of 0.7%; Italy, 0.5%; Mexico, 0.8%; France, 0.7%; Japan, 0.6%; the United Kingdom, 0.9 %; and Canada, 1.2%. According to the OECD’s projections, Canada has the second-fastest growth in the G7. We, on this side of the House, will work hard every day to build the strongest economy in the G7.

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Pierre Poilievre

Conservative

Linked statement

“Canada is in a recession, and prices are still rising. This is costing people their jobs and homes. I want the Prime Minister to reverse the policies that caused this.”
Official Hansard

Mr. Speaker, I have a question for the Prime Minister. Just over 10 days ago, we learned that Canada was the only country with back-to-back shrinking economies in two quarters, the definition of a recession. Today we got even worse news from the Governor of the Bank of Canada, who said: the Canadian economy has remained soft and inflation has increased.... Economic weakness combined with rising inflation is a dilemma He used the word “weak” nine times to describe the Prime Minister’s economy. That translates into lost jobs, lost homes and bigger lineups at food banks. Will the Prime Minister stand today and reverse the Liberal policies that caused this recession?

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François-Philippe Champagne

Liberal
“The OECD predicts Canada's economy will grow by 1.7% in 2027. That is faster than Germany, Italy, Japan, and the United Kingdom.”
Official Hansard

Mr. Speaker, I know it is Wednesday and the Leader of the Opposition is looking for good news. Let me help him. For Germany, it is 1.1%; Italy, 0.6%; Japan, 0.8%; and the United Kingdom, 1.1%. For Canada, it is 1.7%. That is the growth projection for 2027. This is what the OECD said just recently. On this side of the House, we are going to fight for Canadians, because every day is a good day to fight for Canadians.

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Pierre Poilievre

Conservative
“Canada's economy is shrinking while other major countries are growing. People are losing their homes because of this weak economy. I want the Prime Minister to change the government policies that caused this.”
Official Hansard

Mr. Speaker, these are more illusions from the other side of the House of Commons. Canada is the only economy in the G7 that has shrunk over the last two quarters and over three out of the last four quarters, the only economy smaller today than a year ago. Today the Governor of the Bank of Canada described the Prime Minister’s economy as “weak” nine times. That translates into seniors who are forced to lose their home and live in a parking lot, according to a story by CTV. Will the Prime Minister stand up now and announce that he will reverse the Liberal policies that caused the mess?

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Tim Hodgson

Liberal
“The Bank of Canada says our economy is strong, even with foreign tariffs and wars. We are focused on building new energy projects like power lines, hydro, gas, and nuclear. The Conservatives should help us build instead of complaining.”
Official Hansard

Mr. Speaker, while the Leader of the Opposition chooses to cherry-pick points, what we know is that the head of the Bank of Canada said that our economy continues to show real resilience in the face of illegal and unjust tariffs and in the face of two economy-destroying wars. Canadians want us to focus on building. That is why we are building transmission. That is why we are building new hydro. That is why we are building new LNG. That is why we are building new nuclear. Maybe the Leader of the Opposition should get out of the clouds and start helping us build.

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Pierre Poilievre

Conservative
“Canada is the only major country in the G20 that is in a recession, and many people cannot pay their bills. I want the Prime Minister to take responsibility and answer for it.”
Official Hansard

Mr. Speaker, the Prime Minister is hiding in the clouds and refusing to answer questions about the recession that he created here in Canada. The only thing he has been building is the sole recession in all the G20. There are 20 industrialized nations in that group; 19 of them are not in recession, and one of them is in recession. That translates into stories from the United Way, where 40% of Canadians are losing sleep because they worry they cannot pay their bills, and 60% have anxiety over their financial situation. Will the Prime Minister finally take responsibility and answer to them?

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Mélanie Joly

Liberal
“The Prime Minister is working with Canada's premiers to deal with the trade war. Even with this trade war, our economy added 88,000 jobs last month and we had our biggest trade surplus since January 2025.”

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Official Hansard

Mr. Speaker, the Prime Minister is a serious man who knows business and understands the economy. Right now he is working with all the first ministers, basically all the premiers of our provinces and territories, to make sure that we are dealing with the impacts of the trade war, which is never alluded to by the Leader of the Opposition. Notwithstanding this trade war, last month we were able to create 88,000 jobs across the country, particularly for young people and for women. Not only that, but we are also going through a trade surplus, the highest since January 2025, which was before the trade war.

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