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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

Linked statement

“We focused on lowering the deficit. In 2025, it was $11 billion lower than expected, and our debt will go down next year. We are managing public money responsibly.”

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Official Hansard

Mr. Chair, our first instinct was to reduce the deficit. My colleague should celebrate the fact that our deficit is $11 billion lower than projected in 2025. He will realize that even the 2025-26 debt will be lower in 2026-27. What we are demonstrating to Canadians is that we are managing the public purse responsibly and soundly. I am sure that this is what his constituents want to see.

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Gabriel Hardy

Conservative
“The government is spending too much money, and the deficit will stay high for years. They also created a debt fund that another country refused to call a wealth fund because it was built on debt. Does the minister know this?”
Official Hansard

Mr. Chair, it is interesting that the minister would mention fiscal responsibility. The deficit is forecasted to be $65 billion in 2027, $63.5 billion in 2028, $58 billion in 2029, $56 billion in 2030 and $53 billion in 2031. Under the previous prime minister, we had a $31-billion deficit. The Liberals boast about their fiscal responsibility, but I think they should show a bit more restraint. I am going to ask another question and go back to the one I asked earlier. The Liberals have created a sovereign debt fund. Are they aware that the British Parliament tried the same thing but refused to call it a sovereign wealth fund because it was built on debt? Is the minister aware of that?

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François-Philippe Champagne

Liberal
“Canada manages its money well. Compared to the size of our economy, we have the lowest debt among all G7 countries.”

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  • A repeated line

    “We have the lowest debt-to-GDP ratio in the G7.”

    Said 17 times by 13 members since April 29.

    Every time it was said
Official Hansard

Mr. Chair, I will once again reassure my colleague this evening. Canada has the lowest debt-to-GDP ratio in the G7, at 10.2%. By way of comparison, Germany’s ratio is 47.2%, the U.K.’s ratio is 93.8%, the United States’ ratio is 96.7%, and France’s ratio is 108%. This shows how well we are managing our public finances. Our debt-to-GDP ratio is the lowest among all G7 countries.

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Don Davies

NDP
“I am sharing my speaking time with the member for Saanich—Gulf Islands. Government workers who work from home part-time are being affected.”
Official Hansard

Mr. Chair, I will be splitting my time with the hon. member for Saanich—Gulf Islands. Federal civil servants working partly from home are being—

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Don Davies

NDP
“Federal public servants are being forced back into the office full-time, even when there is no room for them. This will hurt their quality of life, lower productivity, and cost the government more. Why are the Liberals doing this?”
Official Hansard

Mr. Chair, federal civil servants working partly from home are being forced to return full-time to an office, even where there is no place to put them. There is no compelling reason to work from an office. It will negatively affect their quality of life and productivity, and it will cost the government more money. Why are Liberals pursuing a policy that is so irrational?

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François-Philippe Champagne

Liberal
“We told government workers to return to the office. We did this in a fair, caring way that matches how other workplaces do it.”
Official Hansard

Mr. Chair, we have taken measures to have civil servants return to the office. I think these measures are in line with the best practices seen in the industry. We have done that in a compassionate and reasonable way to make sure that people—

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Don Davies

NDP
“The government said pausing the gas tax would save people 10 cents a litre, but gas prices have gone up instead. Does the minister think oil companies are keeping the tax cut for themselves?”
Official Hansard

Mr. Chair, the government claimed that suspending the gas tax would save Canadians 10¢ a litre. When the suspension came into effect, the national average gas price was $1.69 a litre. Today, it is $1.83 a litre, and $2 a litre in Vancouver. Does the minister believe that oil companies are pocketing at least some portion of the tax cut?

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François-Philippe Champagne

Liberal
“Suspending the federal gas tax is helping Canadians across the country. Most of what people pay for gas comes from the price of crude oil.”
Official Hansard

Mr. Chair, I am delighted that my colleague would refer to the suspension of the federal fuel excise tax. Indeed, this is a measure that is helping Canadians across the country. My colleague would well note that the biggest proportion of what we see at the pump is obviously the price of crude, and we have seen—

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Don Davies

NDP
“Oil companies will make about $90 billion in profit this year because of the attack on Iran. I want to know why the government will not tax those extra profits.”
Official Hansard

Mr. Chair, oil companies are set to make some $90 billion in profits this year as a result of the attack on Iran. Why will the government not tax those excess profits?

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François-Philippe Champagne

Liberal
“The world is facing its worst energy crisis ever. This is why gas prices are going up in Canada.”

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Official Hansard

Mr. Chair, my colleague is right. If we take it in the words of the executive director of the International Energy Agency, we are going to “the most severe energy crisis” that we have ever seen, so obviously the price at the pump in Canada is affected by global events, but we are happy—

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Don Davies

NDP
“The Liberals want to sell off our ports and airports. When Britain did this, costs went up, service got worse, and foreign governments bought major shares. Has the government checked the national security risks of foreign powers owning our key infrastructure?”
Official Hansard

Mr. Chair, Liberals are planning to sell off Canada’s ports and airports. When the U.K. privatized Heathrow, costs skyrocketed and service declined. Today, the governments of Saudi Arabia, Qatar and China control major stakes in that airport. Has the government conducted a full national security review of the risks posed by foreign and state-linked entities acquiring ownership of Canada’s strategic infrastructure?

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François-Philippe Champagne

Liberal
“We are collecting information from airport authorities to make the best choices for Canadians. We need to modernize how we build and run public infrastructure.”
Official Hansard

Mr. Chair, what we said in the spring economic update was that we would gather the relevant information from airport authorities so that we can do the proper due diligence and assess what is best for Canadians. I think Canadians understand that we need to modernize the way that we build, operate and maintain public infrastructure in this country.

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Don Davies

NDP
“Does the minister think selling Canada's airports to private companies will make service better?”
Official Hansard

Mr. Chair, does the minister expect that service quality will be improved by privatizing Canada’s airports?

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François-Philippe Champagne

Liberal
“We make decisions that help Canadians. We want to improve services and invest in more public projects across the country.”

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Official Hansard

Mr. Chair, we are always making sure that every decision we make will be in the best interest of Canadians. We want to improve services to make sure that we, as a government and as Canadians, can invest in more infrastructure in this country. That is why we have made general—

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Don Davies

NDP
“Does the minister think that letting airports make a profit will lower airport fees?”
Official Hansard

Mr. Chair, does the minister expect that introducing a profit element will lead to lower airport fees in Canada?

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François-Philippe Champagne

Liberal
“I respect my colleague and enjoy working with him. He will see what we are doing in the new economic plan.”

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Official Hansard

Mr. Chair, as I said to my hon. colleague, for whom I have enormous respect, I work with him very well. By the way, I want to thank him for his contribution over the years. We have done many things together. What he is going to find in this spring economic update is in fact that we are—

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Don Davies

NDP
“The Prime Minister promised to sign deals with all provinces to cover prescription drugs, but the government has not done it. I want the minister to explain why this promise was broken to people who cannot afford their medicine.”
Official Hansard

Mr. Chair, the Prime Minister made a campaign promise to protect pharmacare and sign agreements with all outstanding provinces and territories, yet the government has refused to sign any new agreements or allocate funding to cover all Canadians. Can the minister explain to the millions of people who cannot afford their medication why this promise has been broken?

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François-Philippe Champagne

Liberal
“Canadians can trust our government to protect the programs they need. We have always helped people with the cost of living, and we will keep doing it.”

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Official Hansard

Mr. Chair, Canadians know that they can always trust the government to protect programs that are key to Canadians. I think that, in terms of national affordability benefits for Canadians, we have always been there to support Canadians in times of need. We will continue to do so.

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Don Davies

NDP
“Will the Liberals completely end the pharmacare program after the current deals expire in 2029?”
Official Hansard

Mr. Chair, can the minister confirm if the Liberals are planning to eliminate pharmacare entirely when the current agreements expire in 2029?

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François-Philippe Champagne

Liberal
“We have already created many programs to help Canadians in hard times, including money for families, school meals, and support for people with disabilities.”

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Official Hansard

Mr. Chair, my colleague knows very well that we have a suite of measures to help Canadians in times of need. We have introduced landmark programs such as the Canada child benefit, the national school food program, the Canada disability benefit—

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