Spring Economic Update 2026 Implementation Act

Bill C-30, Spring Economic Update 2026 Implementation Act · Second reading · now law Where it stands

What the law does

The law implements measures from the spring economic update, temporarily removing the federal excise tax on gasoline, diesel, and aviation fuels from April 20, 2026, to September 7, 2026. It lowers Canada Pension Plan contribution rates starting in 2027 and extends extra Employment Insurance weeks for seasonal workers to October 2028. It also makes other changes to tax rules, alcohol excise duties, transportation data, and federal regulation of banking, food inspection, and pest control products.

Official text (opens in a new tab)

21 statements

Guillaume Deschênes-Thériault, Madawaska—Restigouche

Liberal
“I support this economic plan and want the House to pass it. It helps train skilled trades workers, funds summer jobs for youth, and extends employment insurance for seasonal workers. It also makes it easier for people with severe medical conditions to get the disability tax credit, and it invests in small craft harbours.”
  • A repeated line

    “Our government is focused on what we can control.”

    Said 9 times by 7 members since April 30.

    Every time it was said
Official Hansard

Mr. Speaker, I would like to begin by informing you that I will be sharing my time with the member for Winnipeg South Centre. For over a year now, I have had the pleasure of serving as the member for Madawaska—Restigouche, and since day one, our government has remained focused on what we can control: building a stronger Canadian economy, diversifying our international trade partners, managing the budget rigorously and responsibly and supporting Canadians who are struggling because of the cost of living. We are on the right track. We have more work to do, but over the past year, we have been on track, and our 2026 spring economic update is the next step in our plan to build a stronger Canada for everyone. Building Canada strong and meeting our housing, infrastructure and defence needs will require workers who are already qualified. Our workers are the engine of our economy in Canada. That is why, with the economic update, we are launching our plan to recruit and train workers, and hire 80,000 to 100,000 new Red Seal skilled trades workers over the next five years. That is important because we want to build big, but we need the manpower to do it. We will modernize the Red Seal program to reduce certification delays and improve national consistency. We will introduce online exams and digital logbooks and create a single national registered apprenticeship number. All of this will help to simplify the process. We will also introduce financial incentives. As part of their Red Seal certification training, apprentices have to accumulate a certain number of hours of on-the-job training, which is essential to their apprenticeship. To help employers hire, train and retain apprentices, we will put in place wage subsidies of up to $10,000 for their first-year salary. This is a financial incentive to support employers who give our apprentices on-the-job training opportunities. Of course, there is also the classroom training component. We will be providing apprentices with an additional $40 week in income while they are completing their mandatory classroom training. This amount will be in addition to measures already in place, such as employment insurance benefits for eligible apprentices and the student loan and grant program. We will also introduce a new $5,000 success bonus upon obtaining Red Seal certification. By comparison, the previous version of this bonus was approximately $2,000, so this is a substantial increase. Why is this being introduced now? It is because we want to provide apprentices currently in their training program with an incentive to complete their training and obtain the Red Seal. When we talk about training the next generation, it is also important to offer meaningful employment experiences. That is why I am very pleased that the economic update reiterates our government’s decision to increase funding for the Canada summer jobs program. We are already seeing real results. In my riding of Madawaska—Restigouche, this represents an investment of more than $1.5 million for the summer of 2026, which will support more than 400 jobs for young people in my region. This includes jobs in a variety of sectors, such as summer camps, tourist sites, care homes, day cares and the cultural community, to name a few. In addition to giving young people a great job experience, it also supports our community organizations, our small and medium-sized businesses and our municipalities because it allows them to hire summer workers who are essential to their activities. That in itself is great news. I would also like to draw my colleagues’ attention to the fact that Canada covers a vast area and its economic realities vary across the country. Many sectors, including agriculture, fishing, forestry and tourism, especially in rural areas, rely heavily on seasonal workers. As we know, these industries have to cope with weather and seasonal constraints, as well as variations related to fluctuating demand. For that reason, EI provides temporary income support to these workers during the off-season, while they wait for a new season of employment to begin. It gives them some financial stability and lets them remain in their community. Supporting seasonal workers through EI this way also benefits employers in the sectors I mentioned earlier, as well as our regional economies, by allowing employers to retain skilled workers and to ensure they remain on hand for the coming season. A program consisting of five additional weeks of EI was created in 2018 to support seasonal workers. It was active in 13 of the country’s economic regions where seasonal work employs a significant portion of the labour market, as it does in Madawaska—Charlotte and Restigouche-Albert, which make up the entirety of my riding. These measures enable seasonal workers to receive five additional weeks of benefits. This is essential because it allows them to bridge the gap between one working season and the next, thereby avoiding what is commonly referred to as the spring gap. These support measures were initially intended to be temporary and were due to expire in October 2026. My colleagues from the affected regions and I have held discussions with our colleagues, and I am very pleased to say that the economic update has announced additional funding to extend the five‑week measure, so that seasonal workers in our regions can continue to receive benefits during what is known as the spring gap. The economic update also extends some of the temporary measures we put in place in response to the tariff dispute. For example, the one-week waiting period for receiving EI benefits has been temporarily removed. Initially, this was intended to last for six months. We have extended this period until the fall and will reassess the situation at that time. This is good news for workers. In the economic update, we also announced that we will make it easier to access the disability tax credit. The disability tax credit provides significant tax relief to persons with disabilities and their supporting family members. As members know, eligibility for the credit serves as a key requirement for other federal supports, including the Canada disability benefit. It is important for us, as a government, to ensure that people who need help are able to access all the assistance to which they are entitled. We realized that certain bureaucratic procedures could sometimes make it extra challenging to access the disability tax credit. For example, health care professionals are required to certify a person’s disability and its impact on their daily activities by filling out a form that can sometimes be time-consuming. Our experience over the past few years has shown us that, for certain medical conditions, it would be possible to streamline the process and reduce paperwork to simplify the process for health care professionals. That is why we announced in the economic update that we will implement a simplified application process for individuals with a formal diagnosis of certain long-lasting medical conditions. It is important to note that the eligibility criteria are not changing, but based on our experience, we have observed that people with certain illnesses do, in fact, meet the criteria, so they will no longer be required to fill out the entire form. I will give a concrete example. If a health care professional certifies on the form that their patient has Alzheimer’s disease, they will not need to answer all the questions about how the disease is affecting their daily life, because that information has already been documented, and we will consider the person with the disease eligible for the tax credit. This will apply to more than 40 medical conditions, such as stage three or higher chronic obstructive pulmonary disease, amyotrophic lateral sclerosis, cystic fibrosis and schizophrenia. A whole series of other medical conditions are listed, and this will simplify the process for people living with those conditions. We will also expand the list of health care professionals who can certify eligibility for the tax credit in order to ease the burden on health care workers. Podiatrists, physiotherapists, speech therapists and occupational therapists will all be able to certify certain conditions related to their areas of expertise. These are just some of the various measures we are putting in place to ensure that people who need help actually get the support they need. This economic update brings more good news for the Atlantic provinces. As we know, investments in small craft harbour infrastructure were long overdue. This was a long-standing request from coastal communities. I am pleased to say that, in this budget, the Atlantic provinces have been heard, and we will see historic investments in this harbour infrastructure, which plays a vital role in the economies of rural and coastal communities. I look forward to hearing questions from my colleagues, and I hope we can work together to pass this economic update. I hope that my colleagues in the opposition will support us, because I believe this update contains good news for all Canadians.

Clifford Small, Central Newfoundland

Conservative
“The fisheries minister promised money to protect Atlantic salmon, but she closed two research centres and has not hired river guardians. We need to protect spawning salmon, or they will die out. Will the member ask the minister to keep her promise?”
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Official Hansard

Mr. Speaker, I listened to my colleague’s speech on the spring economic statement. I know that he comes from a riding in New Brunswick where salmon are paramount in Restigouche. The Minister of Fisheries announced $82 million towards making Atlantic salmon as they once were, in a great healthy state. At the same time that she made that announcement, she cut two biodiversity centres, which were long established, one in New Brunswick, the member’s home province, and one in Nova Scotia. In my province of Newfoundland and Labrador, she has not even laid out contracts for river guardians this year. If we do not protect spawners, then there will be no spawn, and salmon will be finished. Will the member question the minister to make sure she puts her money where her mouth is?

Guillaume Deschênes-Thériault, Madawaska—Restigouche

Liberal
“Our plan spends $82 million to protect Atlantic salmon. The Restigouche River is in my riding, and I want to make sure this money protects salmon habitats there and across Atlantic Canada.”
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Official Hansard

Mr. Speaker, I am glad to hear my colleague mention the $3.8-billion nature strategy, which includes an investment of $82 million to protect Atlantic salmon. The Restigouche River is internationally recognized for its waters, where salmon are plentiful. It is in my riding and I am very proud of that. I have actually been having ongoing discussions with the Minister of Fisheries regarding this investment. I look forward to seeing how these investments will translate into real measures to better protect salmon habitat in the Restigouche River and other salmon-rich rivers in Atlantic Canada. In fact, we are also investing in other projects to protect salmon habitat in our river.

Mario Simard, Jonquière

Bloc Québécois
“Quebec is facing serious problems from high tariffs on softwood lumber and aluminum. This economic update does nothing to help those industries. I want to know if my colleague thinks that is acceptable.”
Official Hansard

Mr. Speaker, my colleague ended his speech by saying that he is pleased that Atlantic Canada was heard in the economic update. I can tell him that I am sad that Quebec was not heard. Quebec is grappling with the worst of the tariff crisis. The two sectors with the highest tariffs are softwood lumber and aluminum, and there is absolutely nothing for these sectors in the economic update, even though it was supposed to respond to the crisis we are currently facing. Does my colleague think that is acceptable?

Guillaume Deschênes-Thériault, Madawaska—Restigouche

Liberal
“This bill helps the whole country, including Quebec. It funds harbours, changes employment insurance, invests in major projects, and helps build more homes.”
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Official Hansard

Mr. Speaker, I do not share my colleague’s interpretation. When we look at the economic update, we can see that there are positive benefits for the whole of Canada, whether in Atlantic Canada, Quebec or elsewhere in the country. I would like to again mention small craft harbour infrastructure. I know this is important for Quebec. Then there are the EI measures we announced in relation to the spring gap. That was a Bloc Québécois request. I am also thinking of the investments being made in Quebec in several major infrastructure projects of national interest, which the Bloc Québécois has often spoken to us about in the House. I am thinking of the update we are making regarding housing. Quebec and Ottawa signed an agreement as recently as January to speed up housing construction in Quebec. When my colleague says there is nothing for his province in the economic update, I would invite him to take another look and see that there are in fact a number of positive benefits for the whole country.

Dane Lloyd, Parkland

Conservative
“The government gave over $50 million of public money to a nuclear company that went broke. Is the member proud of that wasted money?”
Official Hansard

Mr. Speaker, I know the member across said that he is very proud of the government’s investments. I wonder if he would tell this House if he is proud of the government’s $50-million investment in the molten salt nuclear reactor scam in his very own province by Moltex. The company has now gone into insolvency. It is being sold off for $11 million; 55 million taxpayer dollars down the drain. Is that member proud of that investment?

Guillaume Deschênes-Thériault, Madawaska—Restigouche

Liberal
“We are investing in energy projects across the country, especially clean energy and mining in Atlantic Canada. These projects will help our communities and support our energy sector.”
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Official Hansard

Mr. Speaker, we are investing in several projects of national interest. This includes projects related to various types of energy, such as clean energy. I am thinking in particular of our investments in offshore wind energy off the coast of Nova Scotia. I am also thinking of all the mining projects currently in development, including one in New Brunswick that is under discussion with the federal government. There are also small and medium-sized projects that will have a transformative impact on our communities. We are making many investments that will support the energy sector both in Atlantic Canada and across the country.

Philip Earle, Labrador

Liberal
“I want to talk about the good things the government is doing in Labrador.”
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Official Hansard

Mr. Speaker, I am always happy to ask questions relative to Labrador. I will speed it up a little bit, but I am also happy that my colleagues from Newfoundland and Labrador are here because it gives me an opportunity through my question to talk about the great things our government is doing in Labrador. We have heard about the announcement for—

The Acting Speaker, Pat Kelly

Conservative
“We need time for an answer. The member has ten seconds.”
Official Hansard

We need time for a response. The hon. member for Madawaska—Restigouche has 10 seconds.

Guillaume Deschênes-Thériault, Madawaska—Restigouche

Liberal
“Our budget update shows we reached our military spending goal of 2% of GDP. This will bring new investments across Canada, including in Labrador.”
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Official Hansard

Mr. Speaker, the economic update confirms that we have reached the defence spending target of 2% of GDP. This is excellent news, and it translates into investments across the country, including in my colleague’s riding of Labrador.

Ben Carr, Winnipeg South Centre

Liberal
“I support the government's economic update. It funds sports, helps people train for skilled trades, and puts money into housing and mental health care to fight homelessness.”
Official Hansard

Mr. Speaker, it is always a pleasure to rise on behalf of the people of Winnipeg South Centre. The spring economic update, much like the budget, is a wonderful exercise in the democratic process. It is not only an opportunity for the prime minister and the minister of finance to report back to Canadians and indicate the direction of the government. It is also an opportunity, through a variety of different iterations, for grassroots Canadians, constituents, to convey their needs, their wants and the opportunities that exist in our country back to the people who represent them, such as me, here in Ottawa. I try to create time every week, whether I am in Ottawa or in Winnipeg, to sit down with people I represent in order to have a conversation, whether through email correspondence, a phone call, in-person meetings or at events. It is an opportunity for them to connect with me and help me understand what they want said on their behalf on the floor of the House of Commons. My speech today will be framed around one question: What builds a strong community? For me and for many people I represent, it is about connection of people and places. More specifically, I want to talk about opportunity, belonging and stability. I am going to start with sport. I was extremely privileged and blessed, as a young person growing up in Winnipeg South Centre, to have been raised in a community filled with people who wanted to give back. I am thinking of my coaches in baseball, John Matas and Ray Ali, and my coaches in football, Jon Romu and Gerry Urbanovich, who gave so much back to my teammates and I. They taught us about the importance of teamwork, leadership and perseverance. Sport brings us together and creates a sense of belonging. Like the arts, it is a practice of expression. It is a reflection of us back to others. In addition to creating a deep sense of belonging, sport is also critically important from the perspective of both our physical and mental health. I can remember having the privilege of being the head coach of the Kelvin Clippers football team, where I had been a player in high school, and working with a number of students who came from difficult situations, whether that was conflict in the home, a lack of success in what we would have traditionally deemed as such in the confines of a classroom, or just looking for something to belong to. Sport, particularly team sport, was an avenue for them to grow, develop and be a part of something bigger than themselves and to do so in a way that contributed positively to their mental and physical health. The spring economic update’s announcement of an investment of $755 million, a monumental and generational investment not only in Canadian athletes but also in participants in sport across the country, is going to be a game changer that brings about a healthier sense of belonging in our communities. I want to now turn to opportunity. I recently met with Fred Meier, who is the president of Red River College Polytech in my hometown of Winnipeg. Alongside Fred, I had the opportunity to chat with a number of members of the faculty associations. One of the things they raised is the existence, unfortunately still, of a stigma that exists in our country around the trades. There is a belief among some people that the only path to prosperity through higher education can come through traditional programming at universities. This could not be farther from the truth. Not only are the trades and skilled workers who occupy the positions within that domain working valuable jobs in terms of being able to people prosper economically and financially, but they are also critical to the growth of our country. What young people in this country need right now, vis-à-vis the trades, is opportunity. The government’s growth agenda is going to help them realize that. As we build a strong Canada, we need to allow for the development of a strong workforce that will help support many of the major projects and critical infrastructure developments we are catalyzing right now. In the context of the spring economic update specifically, there were a number of measures I was very pleased to see that I think are going to make a significant difference for folks on the ground in Winnipeg, throughout Manitoba and beyond, across the country. Included in those are up to $16,000 over the course of about four years for somebody who is in training to become a skilled worker in the trades. This financial incentive is critical for folks who are trying to balance their education with the financial responsibilities they have in their life. This type of incentive is going to ensure that we retain people throughout that educational process. In addition to that, one of the things we see in this particular part of the spring economic update statement regarding the skilled trades are supports for small and medium-sized businesses to allow for apprentices to have opportunities. I was very proud a number of years ago to be the principal of the Maples Met high school. One of the things that was amazing about this school was that on Mondays, Wednesdays and Fridays the kids would be in class doing project-based learning, but on Tuesdays and Thursdays they would go out into the community to do internships. Often these internships would take place with the leaders of small and medium-sized businesses, who would help them understand what the pathway was toward a profession in the trades. We are going to be creating an agency government-wide that is going to help facilitate that process, whereby business owners, educational institutions and people who are wanting to join a profession are going to be able to work collaboratively to advance those opportunities. Inclusive as well of the opportunity in trades is a $5,000 incentive upon the completion of a Red Seal certification. One thing I would like us to move on is some conversations between the federal government and provincial governments in order to make sure we are aligned on helping to create that opportunity for young people. It is often as early as grades 8, 9 and 10 that people know they want to begin to explore the spaces around the skilled trades, and the more closely we can be aligned across the country to create those pathways, the stronger I believe we are going to be. I also want to talk about the importance of stability in building a strong community. In my hometown of Winnipeg, there is a significant crisis ongoing in relation to mental health, addiction and homelessness. We have announced a continuation of a $125-million investment in unsheltered homelessness and encampment initiatives. Just last week in my office here in Ottawa, I sat down with some executives from the Canadian Mental Health Association, the Manitoba chapter, who talked to me about how critically important the investments in this fund have been to providing, particularly, wraparound services. When we talk about dealing with the mental health and addictions crisis and about people who are currently unsheltered or living on the streets, we have to focus not just on creating housing but also on creating stable housing that is supported by a variety of different resources, whether that be addiction treatment options, social workers, psychologists and psychiatrists, or peers who are going through similar situations who can build strong bonds within the community to help people through these very difficult aspects of their journey. The $125 million is a significant investment, but in addition to that, it builds on top of the $5-billion health infrastructure announcement we made in the last budget. I am working very closely with my colleagues on the ground in Winnipeg and other stakeholders to make sure these funds go towards building the types of wraparound services that will comprehensively and collaboratively create the type of supports people in Winnipeg need right now. I started this speech by talking about the importance of connection between people and places. Connection to our natural environment is critical, and the last thing I will say is that I am very proud to have seen reflected in the spring economic update the insights, feedback and guidance that the people I represent in Winnipeg South Centre had given me, inclusive of input on the environment. It is investments like the $75 million in the Seal River Watershed in Northern Manitoba that speak very much to that.

Dane Lloyd, Parkland

Conservative
“Crime is too high, and the government is misleading people about hiring more police. It promised 1,000 new officers, but only 750 are frontline police. It is also hiring fewer civilian workers than it pushed into early retirement. Why is the government failing to protect our streets?”
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Official Hansard

Mr. Speaker, I think my colleague will agree that the crime rates in this country are far too high, and that is why I think Canadians were very hopeful when the government announced that it would be hiring 1,000 new RCMP officers. However, we have recently learned that of the 1,000 RCMP officers the government claimed it was hiring, only 750 of them are actually going to be frontline officers; 250 of them are going to be civilian support employees. It gets better. The government, under its early retirement incentive, laid off over 300 civilian employees from the RCMP. The government says it is hiring 250 more employees, but it has let go 300 employees and is bringing in only 750 frontline officers. This is an investment illusion under the government. Why is it failing to protect our streets, by underinvesting in police?

Ben Carr, Winnipeg South Centre

Liberal
“Police across Canada support harsher punishments for violent repeat criminals. We also need to spend money on mental health, addiction, and housing. Helping people out of poverty reduces crime.”
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Official Hansard

Mr. Speaker, I met with police officers from the Winnipeg police union a couple of days ago in Ottawa. I can say that their view was very different, as was that of police chiefs from across the country. For example, Bill C-14, which would bring in tougher penalties for repeat offenders, particularly those who are using weapons and violence in the crimes they are committing, is being welcomed across the board in this country. In addition to that, I want to go back to a component of my speech that talked about the importance of investing in supports for mental health and addictions, and homelessness. Lots of crime is born out of poverty and out of very difficult conditions that people find themselves in, so by making investments in people through social services, we help to reduce crime rates in this country.

Mario Beaulieu, La Pointe-de-l'Île

Bloc Québécois
“Federal health care funding is not increasing fast enough to cover rising costs, especially as the population gets older. That funding increase could drop even lower in a few years, while health systems are already struggling. I want to know what my colleague thinks about this.”
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Official Hansard

Mr. Speaker, currently, the government has set the increase in health transfers at 5%, which is clearly insufficient because system costs are rising, due to population aging, at a rate closer to 6%. The government has not locked in the increase in health transfers, which means that, by 2027-28, it could drop to 2% or 3%, even though the health care systems in Quebec and other provinces are already struggling. I would like to hear my colleague’s thoughts on that.

Ben Carr, Winnipeg South Centre

Liberal
“We are spending almost $220 million on health care and infrastructure in Manitoba. This money will help provide needed services and deal with a crisis on the streets in Winnipeg.”
Official Hansard

Mr. Speaker, we are allocating nearly $220 million for infrastructure and health care in Manitoba. What does that mean for the people of Winnipeg and Manitoba? It means that we can continue to provide the necessary services. As I just mentioned in my response to the previous question, there is a crisis happening right now on the streets of Winnipeg. These investments will make a big difference. I cannot speak to what is happening in Quebec specifically, but I can say that, in Manitoba, these investments are making a big difference for the people of my province.

Guillaume Deschênes-Thériault, Madawaska—Restigouche

Liberal

Linked statement

“I want my colleague to speak about the government's major spending on sports. Why is it important to support sports for young people?”
Official Hansard

Mr. Speaker, in his speech, my colleague mentioned that he had visited schools and spoke about the importance of supporting our youth. I would like him to say a few words about our historic investment in sport and its impact on our young people. Why is it important to support sport, including for the younger generation?

Ben Carr, Winnipeg South Centre

Liberal
“This spending is very important. Playing sports helps physical and mental health, makes communities stronger, and improves life for both parents and kids.”
Official Hansard

Mr. Speaker, these are exceptionally significant investments. It is not just important for physical and mental health. It is something we need for building strong communities. Participation in sport improves the lives of parents and children alike, across all communities.

Carol Anstey, Long Range Mountains

Conservative
“Small businesses are closing faster than they are opening, and most owners say now is a bad time to start one. I want the government to explain how its economic plan addresses this.”
Official Hansard

Mr. Speaker, I would just like to point out some financial indicators we have right now, particularly as they pertain to small business. The CFIB has said that for six quarters in a row, we have had more small businesses closing down than are starting up. It has described us as being in an “entrepreneurial drought”. About 55% of entrepreneurs are saying they do not suggesting opening a business. How do the Liberals square that with their economic update?

Ben Carr, Winnipeg South Centre

Liberal
“We are giving $10,000 to small and medium businesses so they can hire entrepreneurs and apprentices to help build the country.”
Official Hansard

Mr. Speaker, how we square that is by giving $10,000 to small and medium-sized businesses to help attract entrepreneurs and apprentices who are going to create and build this country. That is how we do that.

Carol Anstey, Long Range Mountains

Conservative
“I do not support this economic update bill. It spends too much borrowed money and will drive up inflation. It does not cut taxes or fix the high cost of living, which hurts rural people in my riding the most.”
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Official Hansard

Mr. Speaker, I will be splitting my time. It is always an honour to rise in the House, and I rise today to speak to Bill C-30, on the spring economic update. Unfortunately, the legislation confirms what Canadians already feel in their daily lives: that after years of costly Liberal fiscal policy, life is becoming more expensive, less predictable and harder to manage. Before I dive into the details, I would like to set the stage by looking at how the nation is actually receiving this update. If we want to know how far the Liberal rhetoric is from the Canadian reality, we only have to look at the headlines from The Globe and Mail and the National Post this week: “Canada Strong is still Canada deep in debt”, the Liberals’ “upside-down [fiscal] world”, and “[Canada’s] ‘New Government’ has no interest in arresting our economic decline”. To summarize the content of these headlines, if someone has been wondering what meaning to attach to that irritating phrase the Liberals are so fond of, “Canada’s new government”, they should wonder no longer, as the spring economic update makes abundantly clear that it means nothing. There is no use in being disappointed; we should all be managing our own expectations. The new government is no more interested in arresting our economic decline than the old one was. It is clear the Liberals have no intention of changing their high-spending, high-taxing ways. Economists have sounded the alarm. Without aggressive measures to boost productivity, our country will continue to slide, yet in the bill, we see no commitment to deep deregulation, no effort at broad tax reform and no plan for growth. This is not progress. This is just more of the same, wrapped in a new coat of paint. As always, I want to speak specifically about how this impacts the wonderful people of Long Range Mountains. When they look at this, they do not see a plan for growth. They see a document written for a boardroom full of Liberal elites. It bears no resemblance to the reality of life in Newfoundland and Labrador. At a time when hard-working Canadians are looking for relief, this offers something very different. It offers a costly credit card approach that doubles down on spending, increases the deficit and risks driving inflation even higher. The Liberal Prime Minister has now doubled the deficit left by his predecessor, from $31 billion to $65 billion, and the consequences of that decision will be borne not by the government but by hard-working Canadians. The Liberals certainly do not consider the unique challenges that the people of Newfoundland and Labrador face, especially the challenges of the island portion of our province, where most of our fresh produce and everyday essentials must be shipped in. Building materials have to be brought across on the ferry. In Long Range Mountains, fuel is not a luxury but a lifeline. We do not have subways; we have vast highways with no cellphone service and unpredictable coastal weather conditions. The bill doubles down on fuel taxes that act as a geographic penalty on rural, remote and coastal Canadians. Across the country, families are already stretched thin. The rising cost of food, housing and basic necessities is forcing difficult choices at kitchen tables across the country. Seniors are being squeezed by fixed incomes that no longer go as far as they once did. Young Canadians are postponing major life decisions because the cost of home ownership feels out of reach. They are losing hope in their future in this country. When a father in Deer Lake fills up his truck to go to work, he is paying a premium for the Liberal government’s ideology. When a senior in Burgeo looks at the cost of home heating fuel, she is being squeezed by a Liberal plan that makes her life harder every single day. In that context, one would expect the legislation to show restraint and focus on affordability, but instead, it introduces $37 billion in new Liberal spending, on top of tens of billions already committed. It proposes the creation of a sovereign wealth fund that has no wealth behind it, relying instead on borrowed money. It would allocate billions more to international climate finance, millions for conferences and billions in subsidies that would do little to address the immediate pressures facing hard-working Canadians. This is not a targeted plan to help families. It is an expansion of government at a time when Canadians need the exact opposite. Liberals brag about $37 billion in spending, yet if we talk to any small business owner or walk into any grocery store and ask how they are managing to navigate in this environment, they do not want to hear about billions of dollars for international climate conferences. They want to know when prices are going to start to go down so they can manage to drive their kids to the activities they love and, at the same time, keep food on their tables. Seniors still living in their homes on a fixed income want to know when their money will once again be enough to live off. Entrepreneurs want to have confidence that they can grow their business and hire more staff instead of constantly facing more costs that create uncertainty and stress. They want to innovate and work on their business instead of constantly wondering how they are going to make payroll. They want to continue to contribute to their communities instead of having to cut back because of constantly higher costs. At a time when we should be focused on bringing costs down for hard-working Canadians, the bill proposes a sovereign wealth fund with no actual wealth behind it, only borrowed money. Meanwhile, the cost of servicing the national debt continues to climb. This year alone, debt interest payments will reach $59 billion, which is more than the federal government transfers to provinces for health care and more than it collects in GST revenue. This translates to roughly $3,400 per Canadian family just to cover the cost of Liberal borrowing. This is money that could otherwise be invested in Canadians’ priorities, but instead it is consumed by the growing weight of Liberal debt. Even more concerning is that the government’s own projections show slow economic growth and rising inflation. In other words, despite unprecedented levels of Liberal spending, the fundamentals of the economy are weakening. Canada now faces some of the most challenging economic indicators in the G7, including high household debt, unaffordable housing, weak productivity and declining investment. These are not short-term fluctuations. They reflect deeper structural issues that this bill fails to address. We hear a lot about team Canada, but there is a massive gap between Liberal rhetoric and the reality being felt by hard-working Canadians. We have young people in the trades who want to build their lives at home. We have resource potential that could make us a global energy superpower, but we are held back by a Liberal wall of regulatory bottlenecks. Whether it is the punishing industrial carbon price or red tape preventing us from developing our own resources, the Liberal government is standing in the way of Newfoundland and Labrador’s economic prosperity. Conservatives—

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