This was a Business of Supply debate taking place during consideration of the government’s recent economic update legislation. Conservatives pressed the Finance Minister on deficit spending, asking when the budget would be balanced, how many homes are being built, the costs of a planned sovereign wealth fund, and details of specific spending items such as a spaceport lease, while repeatedly saying the minister was not answering their questions. Liberals defended the government’s record, saying the economy is strong, the deficit is lower than expected, and housing prices and rents have come down. The Bloc Québécois asked about the exemption of American companies from the global minimum tax in Bill C-31 and about wage subsidies for workers affected by tariffs, and the NDP asked why the government is not taxing oil company excess profits or banning surveillance pricing. Some members also raised local matters such as support for regional media.Written by AI from the debate. Updated .
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“I want the minister to tell me if investment in Canada's natural resources has gone up or down since 2015.”
“Mr. Chair, is it the minister’s view that investment in Canada’s resource sector has increased or decreased since 2015?”
Mr. Chair, is it the minister’s view that investment in Canada’s resource sector has increased or decreased since 2015?
“I believe more money will be invested in Canada's energy sector. We already have major projects like Shell and LNG Canada, and more are coming.”
“Mr. Chair, it is certainly my view that we will see more investment in the energy sector in Canada. We can just look at the recent investment of Shell, which made one of its largest investments in Canada. We have also seen LNG Canada, which is one of the largest of its kind. There are a number of LNG projects that we are seeing, and more will be coming because people—”
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See full analysisMr. Chair, it is certainly my view that we will see more investment in the energy sector in Canada. We can just look at the recent investment of Shell, which made one of its largest investments in Canada. We have also seen LNG Canada, which is one of the largest of its kind. There are a number of LNG projects that we are seeing, and more will be coming because people—
“Shell bought another company instead of building something new in Canada. How much business money has moved from Canada to the United States in the last five years?”
“Mr. Chair, Shell made an acquisition, not an investment. I will make the minister cite that difference. How much private sector capital has left Canada for U.S. projects over the past five years?”
Mr. Chair, Shell made an acquisition, not an investment. I will make the minister cite that difference. How much private sector capital has left Canada for U.S. projects over the past five years?
“Foreign investors put $97 billion into Canada in 2025. People want to invest here because we have skilled workers, strong industries, natural resources, and free trade deals with other major economies.”
“Mr. Chair, I am happy to say that the foreign direct investment inflow in Canada in 2025 was $97 billion. Investors around the world see what Canada has to offer. We have one of the most educated workforces. We have very strong industry. We have critical minerals. We have energy, and we are the only country in the G7 with free trade with all other G7 nations. We have what we need to succeed.”
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See full analysisMr. Chair, I am happy to say that the foreign direct investment inflow in Canada in 2025 was $97 billion. Investors around the world see what Canada has to offer. We have one of the most educated workforces. We have very strong industry. We have critical minerals. We have energy, and we are the only country in the G7 with free trade with all other G7 nations. We have what we need to succeed.
“Does the minister know how long it takes, on average, to approve a major energy or building project in Canada?”
“Mr. Chair, does the minister know how long it actually takes, on average, to approve a major energy or infrastructure project in Canada?”
Mr. Chair, does the minister know how long it actually takes, on average, to approve a major energy or infrastructure project in Canada?
“I want the member to vote for our bill because it helps build more infrastructure. We all want more investment in Canada. Foreign investment reached a record 97 billion dollars in 2025.”
“Mr. Chair, my colleague will have the opportunity to vote on legislation that would certainly help to build more in this country, and I think that is what we want to see. We are united in wanting to see more infrastructure and more investment in this country, and it is a great thing for international investors. Like I said, in 2025, FDI inflow was $97 billion. That is a record.”
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See full analysisMr. Chair, my colleague will have the opportunity to vote on legislation that would certainly help to build more in this country, and I think that is what we want to see. We are united in wanting to see more infrastructure and more investment in this country, and it is a great thing for international investors. Like I said, in 2025, FDI inflow was $97 billion. That is a record.
“These projects take five to seven years, and they keep taking longer. The minister does not see this problem. Does this take less time in the United States?”
“Mr. Chair, it takes five, six or seven years. These tracks keep getting longer, and the minister does not seem to recognize that this is the problem. Is that timeline shorter than it is in the United States?”
Mr. Chair, it takes five, six or seven years. These tracks keep getting longer, and the minister does not seem to recognize that this is the problem. Is that timeline shorter than it is in the United States?
“Global business leaders want to invest in Canada. Big companies like Shell are already spending large amounts of money here.”
“Mr. Chair, I would invite my colleague to speak to global CEOs. He would be pleased to hear that they very much value investments in Canada. When I travel and speak to global CEOs, they see why Canada is the place to invest in. We just have to follow the dollars, and we are seeing large investments, like the one Shell made recently. They speak with their dollars.”
Mr. Chair, I would invite my colleague to speak to global CEOs. He would be pleased to hear that they very much value investments in Canada. When I travel and speak to global CEOs, they see why Canada is the place to invest in. We just have to follow the dollars, and we are seeing large investments, like the one Shell made recently. They speak with their dollars.
“Companies are investing in the U.S. and Mexico because projects get built there three times faster than in Canada. I want the minister to tell us if our assessment laws have made it easier or harder to build major projects here.”
“Mr. Chair, that is interesting, because most global CEOs are investing in the U.S. and Mexico, including in infrastructure, where it takes about one-third of the time to get a project built than it does here in Canada. Does the minister believe legislation like the Impact Assessment Act has made it easier or harder to build major projects in Canada?”
Mr. Chair, that is interesting, because most global CEOs are investing in the U.S. and Mexico, including in infrastructure, where it takes about one-third of the time to get a project built than it does here in Canada. Does the minister believe legislation like the Impact Assessment Act has made it easier or harder to build major projects in Canada?
“Business leaders around the world want to invest in Canada because our country is stable and predictable. Companies like Shell see Canada as a major energy power.”
“Mr. Chair, the global CEOs I talk to around the world, and there are many, value investments in Canada. They value predictability, stability and the rule of law. I just have to look at the recent investment of Shell as an example. It sees Canada as playing a big role as an energy superpower.”
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See full analysisMr. Chair, the global CEOs I talk to around the world, and there are many, value investments in Canada. They value predictability, stability and the rule of law. I just have to look at the recent investment of Shell as an example. It sees Canada as playing a big role as an energy superpower.
“The Prime Minister wants to attract $1 trillion in new investment, but $1 trillion left the country under the last industry minister. Will the minister admit this plan is just trying to replace what was lost?”
“Mr. Chair, I am going to start off where I left off. The Prime Minister announced a plan to attract $1 trillion of new investment after that former industry minister watched $1 trillion leave this country on his watch. Can the minister admit to Canadians that this is not ambition, but damage control? He is trying to replace what his last government lost. Is that true?”
Mr. Chair, I am going to start off where I left off. The Prime Minister announced a plan to attract $1 trillion of new investment after that former industry minister watched $1 trillion leave this country on his watch. Can the minister admit to Canadians that this is not ambition, but damage control? He is trying to replace what his last government lost. Is that true?
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“Canada brings in more foreign business investment per person than any other G7 country, including the United States. Our investments will bring in even more money.”
“Mr. Chair, I would be pleased to quote something that I know my colleague would like: “Canada Leads the G7 in Direct Investment Inflows Per Capita”. We are way ahead of the United States, and the investments we are making are going to attract even more investment.”
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See full analysisMr. Chair, I would be pleased to quote something that I know my colleague would like: “Canada Leads the G7 in Direct Investment Inflows Per Capita”. We are way ahead of the United States, and the investments we are making are going to attract even more investment.
“The minister celebrates foreign investment in Canada, but not all of it is good. How much foreign investment over the last ten years was just foreign companies buying Canadian companies?”
“Mr. Chair, I can see that the minister does not want to admit it or answer my question, so I will talk about foreign direct investment. The minister frequently celebrates Canada’s foreign direct investment numbers, but he knows, as finance minister, that all of those numbers are not created equal. Can he tell the House what share of Canada’s inbound foreign direct investment over the last decade came from mergers and acquisitions, from foreign firms buying Canadian firms?”
Mr. Chair, I can see that the minister does not want to admit it or answer my question, so I will talk about foreign direct investment. The minister frequently celebrates Canada’s foreign direct investment numbers, but he knows, as finance minister, that all of those numbers are not created equal. Can he tell the House what share of Canada’s inbound foreign direct investment over the last decade came from mergers and acquisitions, from foreign firms buying Canadian firms?
“Canada gets more foreign investment per person than any other G7 country, almost twice as much as the United States. We had record investment in 2025. We are holding a meeting in September to bring in even more money.”
“Mr. Chair, I would be happy to quote this again: “Canada Leads the G7 in Direct Investment Inflows Per Capita”. In fact, it is nearly double that of the United States on a per capita basis. Investors, like my colleague, understand that Canada is the place to invest. That is why we have seen record investment in 2025, and that is why we are seeing more and more firms looking to invest in Canada. That is why we are going to have an investment summit in September, to attract capital to our country.”
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See full analysisMr. Chair, I would be happy to quote this again: “Canada Leads the G7 in Direct Investment Inflows Per Capita”. In fact, it is nearly double that of the United States on a per capita basis. Investors, like my colleague, understand that Canada is the place to invest. That is why we have seen record investment in 2025, and that is why we are seeing more and more firms looking to invest in Canada. That is why we are going to have an investment summit in September, to attract capital to our country.
“Almost half of these deals are company mergers and buyouts. They do not create new factories, research centres, or jobs. I want the minister to explain to Canadians what they actually do.”
“Mr. Chair, I will answer the question for the minister, since he does not want to. The answer is 45%, nearly half. Can the minister explain to Canadians, as the finance minister, what a merger and acquisition actually means in that context? It does not mean a new factory. People at home will know that. It does not mean a new research centre, and it does not mean a new job. What does it mean?”
Mr. Chair, I will answer the question for the minister, since he does not want to. The answer is 45%, nearly half. Can the minister explain to Canadians, as the finance minister, what a merger and acquisition actually means in that context? It does not mean a new factory. People at home will know that. It does not mean a new research centre, and it does not mean a new job. What does it mean?
“Canada brought in record foreign investment in 2025, leading the G7 per person. The member should celebrate this good news. We will keep working to bring more investment here.”
“Mr. Chair, I am trying to understand the line of questioning of my colleague. I think she should be celebrating the fact that Canada received record levels of foreign direct investment in 2025 and that we are leading the G7 on per capita FDI. It is good news, and we are going to continue to work with colleagues to attract investment in this country.”
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See full analysisMr. Chair, I am trying to understand the line of questioning of my colleague. I think she should be celebrating the fact that Canada received record levels of foreign direct investment in 2025 and that we are leading the G7 on per capita FDI. It is good news, and we are going to continue to work with colleagues to attract investment in this country.
“The finance minister does not understand foreign investment. When foreign companies buy Canadian companies, profits, decisions, and ideas leave Canada without creating new jobs. He should not celebrate this.”
“Mr. Chair, that answer is condescending and it does not show that he, as finance minister, understands what foreign direct investment is. It means a foreign company buying a Canadian one. Strategic decisions are moved abroad. The intellectual property moves abroad. The profits move abroad. He knows that as the finance minister. Again, he is treating those in the House like we are stupid. C.D. Howe finds mergers and acquisitions generally do not create new jobs or investments, so why is the minister celebrating in the House the hollowing out of the Canadian economy?”
Mr. Chair, that answer is condescending and it does not show that he, as finance minister, understands what foreign direct investment is. It means a foreign company buying a Canadian one. Strategic decisions are moved abroad. The intellectual property moves abroad. The profits move abroad. He knows that as the finance minister. Again, he is treating those in the House like we are stupid. C.D. Howe finds mergers and acquisitions generally do not create new jobs or investments, so why is the minister celebrating in the House the hollowing out of the Canadian economy?
“We welcome foreign investment in Canada. Companies like Volkswagen, Shell, and LNG Canada are coming here to build projects, create jobs, and grow our economy.”
“Mr. Chair, a good Conservative, which I know my colleague is, would celebrate an open economy. Canada has an open economy where we welcome investment in our country. We have seen these investments that have grown the GDP in this country. They have created jobs. Let us think about Volkswagen if they want to talk about the auto sector. It is the largest gigafactory outside of Europe. European manufacturers are choosing to come to Canada, just like a number of investors, such as Shell and LNG Canada, and they are creating opportunities, jobs, growth and wealth in this country.”
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This statement targeted a person rather than their actions or views: “which I know my colleague is, would celebrate an open economy.”.
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See full analysisMr. Chair, a good Conservative, which I know my colleague is, would celebrate an open economy. Canada has an open economy where we welcome investment in our country. We have seen these investments that have grown the GDP in this country. They have created jobs. Let us think about Volkswagen if they want to talk about the auto sector. It is the largest gigafactory outside of Europe. European manufacturers are choosing to come to Canada, just like a number of investors, such as Shell and LNG Canada, and they are creating opportunities, jobs, growth and wealth in this country.
“The best way to measure Canada's economy is how much businesses invest in their workers. I want the minister to tell us if business investment per worker has gone up or down over the last ten years.”
“Mr. Chair, the Minister of Finance knows, and if he does not know, he can ask the officials sitting right in front of him, that the true measure of Canada’s health is the domestic investment. Canadians investing in Canada, businesses investing per worker, is the single best indicator of whether Canadian firms are growing and becoming more productive. He knows this. He is not telling the House this, but he knows it. Can the minister tell us if domestic investment per worker is up or down in the last decade?”
Mr. Chair, the Minister of Finance knows, and if he does not know, he can ask the officials sitting right in front of him, that the true measure of Canada’s health is the domestic investment. Canadians investing in Canada, businesses investing per worker, is the single best indicator of whether Canadian firms are growing and becoming more productive. He knows this. He is not telling the House this, but he knows it. Can the minister tell us if domestic investment per worker is up or down in the last decade?
“Canada's economy is growing faster than almost every other G7 country. We should celebrate our workers and businesses for this success.”
“Mr. Chair, I know that my colleague will be happy to learn that Canada has the second-fastest growth in the G7. We are growing twice as fast as countries such as Germany and the United Kingdom, and even three times faster than Italy. We are growing twice as fast as Japan. Tonight, we should celebrate the workers, the industry and the small and medium-sized businesses. These numbers speak for themselves.”
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None of this reply addressed the specific point raised or the topic under debate.
See full analysisMr. Chair, I know that my colleague will be happy to learn that Canada has the second-fastest growth in the G7. We are growing twice as fast as countries such as Germany and the United Kingdom, and even three times faster than Italy. We are growing twice as fast as Japan. Tonight, we should celebrate the workers, the industry and the small and medium-sized businesses. These numbers speak for themselves.
