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Business of Supply

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 .

Official text

366 statements

François-Philippe Champagne

Liberal
“I do my own grocery shopping. A pound of butter costs $5.50.”
Official Hansard

Mr. Chair, my colleague is right to say that I do my own grocery shopping. I can tell him that a pound of butter weighing in at 454 grams currently costs exactly $5.50.

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Eric Lefebvre

Conservative
“Butter cost nine dollars this morning. I want to know if the minister knows how much milk costs in Quebec.”
Official Hansard

Mr. Chair, I would like to know where the minister does his shopping, because at the IGA this morning, a pound of butter was $8.99. I will follow up with another simple question. How much does a two-litre carton of milk currently cost in Quebec? Can the minister tell us the price of milk?

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François-Philippe Champagne

Liberal
“I look forward to our debate tonight. We can talk about where we shop and share good deals. I guess two litres of milk costs $5.50.”

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Official Hansard

Mr. Chair, we are going to have fun tonight. I cannot wait. Members can imagine what fun we are going to have. We can tell each other what grocery store we shop at. My colleague can tell me where he gets good deals too. I would guess that two litres of milk costs $5.50.

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Eric Lefebvre

Conservative

Linked statement

“The Prime Minister said that life has been hard to afford for over ten years. I want to know if the minister agrees with him.”
Official Hansard

Mr. Chair, I have been involved in provincial and federal politics for 10 years. I have to give the minister credit: He came well prepared for the question period when he realized it was a possibility. I congratulate his team. On March 25, the Prime Minister said that affordability has not been good for over a decade. I want to know whether the minister shares the Prime Minister’s opinion.

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François-Philippe Champagne

Liberal
“I know the problems people in rural areas face. High costs affect everyone in Canada, and our government took careful action to help people.”

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Official Hansard

Mr. Chair, I want to thank my colleague. I think it is important to be very aware of realities. My colleague comes from a rural region too. As members who work in rural communities more specifically, we are keenly aware of our constituents’ reality. What I can say is that affordability is one of the issues that concerns all Canadians. That is why we acted with diligence and care to help Canadians in their time of need.

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Eric Lefebvre

Conservative
“I want to know how much rent has gone up in Quebec over the past few years.”
Official Hansard

Mr. Chair, we are talking about affordability. I would like to know what the percentage increase in rent has been in Quebec over the past few years.

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François-Philippe Champagne

Liberal
“Rents and home prices are dropping across the country, especially in big cities.”

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Official Hansard

Mr. Chair, I thank my colleague for raising the issue of housing costs. I should point out that rents have come down across the country. We saw the same trend with residential property prices. They are coming down. In Canada’s big cities at least, we are seeing—

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Eric Lefebvre

Conservative
“The minister's numbers are wrong. Housing costs have gone up 30% since April 2021. How many homes are actually being built right now with the $13-billion housing program?”
Official Hansard

Mr. Chair, I am going to have to correct the minister on that response. We are currently seeing an average increase of 3.6% year-over-year and a 30% increase since April 2021. The $13-billion Build Canada Homes program is a good way to build a number of homes. I would like to know how many housing units are currently being built through Build Canada Homes.

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François-Philippe Champagne

Liberal
“Our program helps build affordable housing. I will send the member data showing that average home prices across Canada have gone down.”

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Official Hansard

Mr. Chair, my colleague is right that Build Canada Homes is making a difference in the construction of affordable housing. As far as the statistics are concerned, I would be happy to write to him and provide him with the data for Canada as a whole. He will see that I was right when I said that, across Canada, the average price of housing has come down. We are seeing the same trend with residential properties.

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Eric Lefebvre

Conservative
“The government's new housing agency has only built 5,200 homes out of its 500,000 goal. That is just two percent, and at this rate it will take 50 years. I want to know why the government created this new agency when it works this slowly.”
Official Hansard

Mr. Chair, we are talking about the number of homes built by this new organization established by the Liberal government, Build Canada Homes. The figure is 2%. Only 5,200 housing units out of a target of 500,000 have been built. That represents 2% of the target. At that rate, it would take nearly 50 years to meet the target. Is the minister aware that this cannot work at that pace? Why create a new organization like Build Canada Homes?

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François-Philippe Champagne

Liberal
“Across Canada, rent is down compared to two years ago. Housing prices dropped by $160, and they dropped even more in big cities like Vancouver and Toronto.”

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Official Hansard

Mr. Chair, I have a statistic to support my colleague’s point. Nationwide, housing prices have dropped by $160 compared to two years ago. In fact, in major cities like Vancouver and Toronto, the drop has been even more pronounced. Yes, rent has gone down across Canada compared to two years ago.

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Eric Lefebvre

Conservative
“The government created a new housing agency that adds red tape and builds no homes. Also, a private company rents land in Nova Scotia for $13,500 a year and is renting it back to the federal government for $20 million a year. That will cost $200 million over 10 years. I want to know if the minister thinks this is a good way to spend public money.”

  • A repeated line

    “That company then turned around and sublet the same land to the Liberal federal government for $20 million a year.”

    Said 3 times by 2 members since May 26.

    Every time it was said
Official Hansard

Mr. Chair, Build Canada Homes is another agency that the Liberal government just established. That means even more red tape, and we have not seen any real results in terms of new housing. I want to come back to another subject: the space launch pad in Nova Scotia. A private company is leasing land from the provincial government for $13,500 per year. That same private company then turned around and sublet the land to the Liberal federal government for $20 million per year. To make this even more profitable, a 10-year contract will be signed. We are talking about $200 million. I repeat: A private company is leasing land from the provincial government for $13,500 a year. That same company turned around and sublet the same land to the Liberal federal government for $20 million per year for 10 years, or $200 million. My question for the minister is simple. Is this sound management of public finances? Would he have signed this agreement if this were his own money?

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François-Philippe Champagne

Liberal
“Housing prices across Canada have gone down for 19 months in a row. Also, being able to launch spacecraft from Canada is good for our national security. Canso, Nova Scotia, is a great place to launch from, and the member should support our investments in space.”
Official Hansard

Mr. Chair, I would like to add a few points. I would like to give him a precise answer. For 19 consecutive months, we have seen a decline in housing prices nationwide. Regarding the issue of space launches, I think my colleague needs to take a step back and consider the benefits of being able to launch spacecraft from Canada. This is a matter of national security. I can tell him that I would be happy to introduce him to astronauts and arrange for him to speak with people on the American side. He will understand that Canso, Nova Scotia, is one of the few locations from which one can reach geostationary orbit. This is an issue of national security for the country. He should be pleased to see that we are investing in the space sector.

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Eric Lefebvre

Conservative
“I want the minister to explain a bad deal. A private company pays $13,500 a year to rent land, but the government is paying that same company $20 million a year to rent it. The minister is avoiding my question.”
Official Hansard

Mr. Chair, I hope that Canadians are watching. I just asked the minister to explain how we entered into a 10-year contract worth $20 million a year when a private company is renting that land for $13,500 a year. His response is that he is going to introduce me to some astronauts to avoid talking about this mismanagement. Again, a private company is renting property from the provincial government for $13,500 a year. That same company then turns around and rents out that same property to the federal government for $20 million a year for 10 years, or $200 million—

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François-Philippe Champagne

Liberal
“I want to connect the member with the Canadian Space Agency. Canada needs the ability to launch into space for our security.”

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Official Hansard

Mr. Chair, I want to help my colleague. I think so highly of him that I want to introduce him to the people at the Canadian Space Agency so that he understands how important it is for Canada to have space launch capabilities. It is a matter of security. It is important for Canada—

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Gabriel Hardy

Conservative
“The government has a $66.9-billion deficit this year and plans to run huge deficits for five more years. I want the minister to answer when this level of spending will stop.”
Official Hansard

Mr. Chair, the minister has been taking questions for a little over three hours now, but we have not gotten any real answers so far, just a lot of hot air. I will stick to the facts. We want to avoid being partisan, so we will stick to the facts. It is a fact that we have a $66.9-billion deficit this year. That is the biggest deficit in the history of the country, outside of the pandemic. What is worse, the Liberals are planning to spend an average of $59 billion per year for the next five years. They will rack up a deficit of $59 billion per year for the next five years. My question for the minister is very simple. At what point does it become unacceptable to burn through taxpayers’ money like that?

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François-Philippe Champagne

Liberal
“Our deficit is $11 billion lower than expected. The International Monetary Fund says Canada's finances are the strongest in the G7.”

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Official Hansard

Mr. Chair, I am so glad to hear such an excellent question from my colleague. He will be happy to hear that the deficit happens to be $11 billion lower than anticipated in budget 2025. We restored fiscal discipline in this country. I will even help the hon. member out, because he will need a clip for that. He can ask the IMF, which is independent. The IMF does not need a clip to explain that to his constituents. The IMF says that Canada’s fiscal position is the strongest in the G7. I think that is what my colleague should tell his constituents.

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Gabriel Hardy

Conservative
“The independent Parliamentary Budget Officer says our debt will keep growing over the next few years. I want to know if the government thinks his numbers are wrong.”

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Official Hansard

Mr. Chair, I do not need a clip. I think people like to know what is going on over here and get informed through clips. That is how they learn about the government’s out-of-control spending. The Parliamentary Budget Officer is independent. I have just been told that we are dealing with independent officers, people who are being independently monitored. That is great. The Parliamentary Budget Officer says that the debt-to-GDP ratio will increase by 43.7% by 2030. Is he way off the mark or is that some bad news?

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François-Philippe Champagne

Liberal
“The Parliamentary Budget Officer confirmed that our government is on track to meet its financial goals. He said that Canada's spending plan is sustainable.”

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Official Hansard

Mr. Chair, I am once again pleased that my colleague quoted the Parliamentary Budget Officer because he confirmed the following himself. I will quote him in English. The Parliamentary Budget Officer confirmed “that the government is on track to [meet] its two fiscal anchors”, a declining deficit-to-GDP ratio and balanced operating spending by 2028-29. The PBO assesses current fiscal policy as sustainable. Those are the words of the Parliamentary Budget Officer, who said that Canada’s fiscal position is clearly sustainable—

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Gabriel Hardy

Conservative
“I want the minister to answer my question in French. The government has already run the largest deficits in Canadian history, and they plan to keep doing it. Why do they need more money when they have already spent more than any past government?”
Official Hansard

Mr. Chair, I asked the question in French. Perhaps the minister should get his answer translated more quickly. I would prefer to get an answer in French. The people listening to us would prefer to hear answers in the same language the question was asked in. It was just mentioned that the government ran up the biggest deficit in Canadian history. Not only that, but the government will continue to run bigger deficits for the next five years. The Liberals’ first instinct was to charge $25 billion to Canadians’ credit card to create a sovereign debt fund. Why are they trying to get even more money when they have spent more than any other government in the history of our country?

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