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Finance

Official text

15 statements

Michael Chong

Conservative
“The government needs less debt, a real limit on spending, and a plan to balance the budget. A former top finance official says so too.”
Official Hansard

Mr. Speaker, the government needs a serious fiscal anchor, less debt and a path to balanced budgets. That is what Kevin Lynch, former finance deputy minister and clerk— Some hon. members: Oh, oh!

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Michael Chong

Conservative
“The government needs a plan to control spending, lower the debt, and balance the budget. Top economists agree. Interest on our debt has doubled to $60 billion a year, which is more than we spend on health care or defence. Will the Prime Minister present a real plan in today's budget to cut the debt and these interest payments?”
Official Hansard

Mr. Speaker, the government needs a serious fiscal anchor, less debt and a path to a balanced budget. That is what Kevin Lynch, former deputy minister of finance and clerk, said today. It is what economist Chris Ragan said yesterday. It is what former finance official Don Drummond has been saying for months. The PBO has said that the interest on the national debt has doubled since 2021 to $60 billion a year, more than health care or defence. Will the Prime Minister deliver a credible fiscal anchor in today’s budget to reduce the debt and skyrocketing interest payments?

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Wayne Long

Liberal
“We will present our new budget today. It will invest in housing, infrastructure, and big projects, boost trade with countries other than the United States, and help the most vulnerable people.”

  • Government answer in Question Period

    Relevance 25 of 100

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

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  • Government answer in Question Period

    Clarity 35 of 100

    Much of this statement used imprecise wording, lacked details on timing or responsibility, or made broad claims without support.

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Official Hansard

Mr. Speaker, while the leader cannot master his own caucus, in a few hours we are going to table budget 2026, “Masters of our destiny”. We are going to build Canada. We are going to bring down barriers to investment. We are going to double non-U.S. exports. We are going to invest in major projects, in housing and in infrastructure. We will also do what they never do. We are going to make sure we look after the most vulnerable.

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Michael Chong

Conservative
“Our borrowing costs are going up and our economy is slowing down. The government is running out of money to handle the next crisis. It has failed to control its spending and borrowing. Will the Prime Minister put a real limit on spending in the next budget, and will he clearly show all the numbers?”
Official Hansard

Mr. Speaker, borrowing costs are rising, growth is stagnating and risks are tilted to the downside. Canada’s fiscal buffers are depleting, leaving us unable to deal with the next major crisis that the Prime Minister’s own national security strategy says could be coming. The government’s fiscal anchors have done little to rein in government spending and borrowing, so will the Prime Minister ensure a credible fiscal anchor in his budget, and more importantly, will he ensure a full accounting in the budget so we do not have to learn about things at some future investment conference?

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Wayne Long

Liberal
“Our economy is strong. We have the best debt-to-GDP ratio in the G7, wages are growing faster than inflation, and we have a top credit rating. We have a plan to keep investing in our economy.”

  • Government answer in Question Period

    Relevance 46 of 100

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

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  • Government answer in Question Period

    Clarity 43 of 100

    Much of this statement used imprecise wording, lacked details on timing or responsibility, or made broad claims without support.

    See full analysis

  • A repeated line

    “The best net debt-to-GDP in the G7.”

    Said 5 times by 2 members since May 6.

    Every time it was said
Official Hansard

Mr. Speaker, despite the fake rage, we have a plan to build our economy. The fundamentals of our economy are extremely strong: the best net debt to GDP in the G7, one of the strongest fiscal positions in the G7, wages outpacing inflation and a AAA credit rating. Despite them wishing it is not so, we have a plan to build Canada strong. We are going to invest in our country and our economy.

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Sandra Cobena

Conservative

Linked statement

“The government is hiding billions of dollars of debt in other accounts to make their budget look better. I want to know who is going to pay for all this debt and how.”

  • Opposition question in Question Period

    Signal 12 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

    “The Liberals are masters of illusion.”

    Said 3 times by 2 members since September 21.

    Every time it was said
Official Hansard

Mr. Speaker, the Liberals are masters of illusion. They say, “Look over here at the operating budget, but do not look over there, where we are taking on unprecedented levels of debt.” They say, “Look at the operating budget, but do not look over here, where we are hiding billions of dollars in Crown corporations.” They say, “Keep looking over here at the operating budget, not at the billions of dollars being relabelled into capital investments.” Who is going to pay for all this debt and how?

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Ryan Turnbull

Liberal
“The Conservatives just read the same negative questions every day and put down our economy. Our government is investing in Canada. We are helping people with daily costs, growing new industries, and creating thousands of jobs. We will not apologize for being positive about our country.”

  • Government answer in Question Period

    Relevance 26 of 100

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

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  • Government answer in Question Period

    Signal 30 of 100

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

    See full analysis
Official Hansard

Mr. Speaker, the Conservatives are so committed to their pessimistic world view that they cannot see past the paper that was handed to them in their lobby to read off these QP questions that are repetitive every single day and punching down the Canadian economy. We are here to promote Canada. We are here to invest in Canada. That is exactly what our government is doing, supporting people with affordability measures, growing the industries of tomorrow and creating jobs for tens of thousands of Canadians. That is what we were elected to do. We will not apologize for being positive about the prospects of this country.

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Sandra Cobena

Conservative
“The government did not answer my question. They use tricks to hide how much debt they have so they can borrow more. Their math counts Canadians' pension savings, but that is not the government's money to borrow against. When will they stop using our pensions to justify leaving debt to our children and grandchildren?”

  • A repeated line

    “The Liberals are masters of illusion.”

    Said 3 times by 2 members since September 21.

    Every time it was said
Official Hansard

Mr. Speaker, there was a lot of shouting, but if you noticed, there was still no answer. The Liberals are masters of fiscal illusion. They are hiding behind the net debt-to-GDP ratio so they can borrow even more. What they do not tell us is that that calculation subtracts Canadians’ pensions, money that Canadians worked decades to save for retirement. That money is not for the finance minister to spend or borrow against. When will they stop using Canadians’ pensions to justify the amount of debt they are leaving for our children and our grandchildren?

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Ryan Turnbull

Liberal
“Canada has the strongest financial position in the G7, with a top credit rating and the lowest net debt. We are using that strong position to help Canadians get better jobs and higher incomes.”

  • Government answer in Question Period

    Relevance 45 of 100

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

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  • A repeated line

    “We have a AAA credit rating.”

    Said 10 times by 5 members since May 1.

    Every time it was said
Official Hansard

Mr. Speaker, it is well known everywhere but the Conservative caucus that Canada has the strongest fiscal position in the G7. That is not an exaggeration. That is the IMF, a world rating agency. We have a AAA credit rating. We had the strongest second quarter growth in the G7. We have the lowest net debt-to-GDP ratio by far. We are not compromising that fiscal position in strength. We are leveraging it to the hilt to get the best results for Canadians, to get returns for Canadians. Those dividends will be jobs for the future and higher-rising incomes.

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Dan Mazier

Conservative
“Canadians cannot afford this budget because it drives up costs. Many people with jobs still need food banks because life is too expensive. I want the Prime Minister to stop this spending.”
Official Hansard

Mr. Speaker, Canadians cannot afford another inflationary Liberal budget. Under the Liberals, millions of Canadians are lined up at food banks. According to a report from the Daily Bread Food Bank, 38% of food bank users are employed. That means even a paycheque no longer guarantees a full fridge under the government. While Canadians are working harder to get ahead, they keep falling further behind. Will the Prime Minister end this inflationary spending in today’s budget, or will Canadians keep paying the price?

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Rebecca Chartrand

Liberal
“Manitoba has Canada's third-largest aerospace industry. Our government is investing millions of dollars to grow the province's economy and create jobs, but the member opposite keeps voting against it.”

  • 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, Manitoba is a powerhouse for aerospace, the third-largest in Canada, and the member opposite keeps voting against every measure to support it. Magellan and StandardAero are creating good jobs in Manitoba. We just invested $8.8 million in the University of Manitoba to support research and create jobs. These are all measures we are taking to support the work to grow the economy in Manitoba, and the member opposite keeps voting against them.

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Luc Berthold

Conservative
“In two hours, the Prime Minister, who is a banker, will present his budget.”
Official Hansard

Mr. Speaker, in two hours, the prominent banker that is the Prime Minister will table his budget. Some hon. members: Oh, oh!

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Luc Berthold

Conservative
“The Prime Minister is about to present another deficit budget. This forces Canadians to pay more interest on government debt instead of spending money on groceries and housing. Will the Prime Minister promise that this budget cuts costs and lowers the deficit?”
Official Hansard

Mr. Speaker, in two hours, the Prime Minister will table yet another budget and become Canada’s undisputed champion of deficits. That is less than two hours away. He will ensure that all Canadians are forced to pay more interest on the debt. That is money that will not go toward supporting families. It is money that Canadians will send to the government instead of spending it on groceries, housing or everyday necessities. Can the Prime Minister at least guarantee that his budget will reduce the deficits and cut costs, so that Canadians can finally save some money?

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Joël Lightbound

Liberal
“Canada has one of the strongest financial positions among the top rich nations.”

  • Government answer in Question Period

    Relevance 35 of 100

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

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  • A repeated line

    “One of the strongest fiscal positions in the G7.”

    Said 3 times by 3 members since October 27.

    Every time it was said
Official Hansard

Mr. Speaker, I would like to thank my colleague for the compliment he paid to the Prime Minister. He called him a prominent banker. Canada has one of the strongest fiscal positions in the G7, the second-lowest net debt-to— Some hon. members: Oh, oh!

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Joël Lightbound

Liberal
“We give money to families, we do not take it away. In that member's riding, our child benefit gives $100 million to 24,000 children and cut child poverty by nearly 40%. He voted against that money.”

  • Government answer in Question Period

    Relevance 11 of 100

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

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Official Hansard

Mr. Speaker, I note that, in his question, he referred to taking money away from families. They are experts at taking money away from families. For example, in his riding, Mégantic—L’Érable, $100 million is distributed to 24,000 children through the Canada child benefit. This has reduced child poverty by nearly 40%. He voted against providing an average of $3,500 per child.

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