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The Economy

Question period focused on the economy, including Canada’s closer ties with the European Union and government spending. The Conservatives argued that no new agreements with Europe have actually been signed, that pursuing European rules on taxes, immigration, and regulation would cede sovereignty without provinces’ consent, and that inflation-driven revenues and deficits would add hundreds of billions to the debt—about $40,000 per family—while Canadians rely on food banks and face unaffordable housing. The Liberals replied that closer EU ties open a market of 450 million consumers, that non-U.S. exports have grown by $33 billion (11%), that a $500-billion investment summit and strong foreign investment show their plan is working, and that Canada has the best debt-to-GDP ratio, growth, and credit rating in the G7. Several exchanges turned into personal attacks, with the Liberals saying the Conservative leader had never worked in the economy and the Conservatives accusing the government of enriching bankers through rising debt interest.Written by AI from the debate. Updated .

Official text

8 statements

Pierre Poilievre

Conservative

Linked statement

“We already have trade and military deals with Europe. The Prime Minister is giving up Canadian control by taking on expensive European rules for taxes, immigration, and regulations. This will not lower the cost of living, and it takes power away from the provinces without their consent.”
Official Hansard

Mr. Speaker, we already have a free trade agreement with Europe and a military alliance with NATO and 30 European countries, but the Prime Minister is threatening to cede our sovereignty to costly European policies on taxes, immigration and regulations. This is not going to reduce the cost of living, and it is going to encroach on provincial premiers’ jurisdictions without their consent and without their input, including the Premier of Quebec on his own turf. How can the Prime Minister be so out of touch and so arrogant?

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Joël Lightbound

Liberal
“Canada is building closer ties with the European Union, which has 450 million consumers and nearly a fifth of the world's economy. This work helps businesses and citizens across Canada and Quebec, and I want to thank Quebec's team in Brussels for helping.”

  • 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, let us not forget that the European Union represents 450 million consumers and 18% of global GDP. I am very proud that there is a rapprochement happening between the European Union and Canada. Our diplomatic efforts are bearing fruit. It should also be noted that the benefits that Canada negotiates in the interest of Canadians are in the interest of Quebec. These are opportunities for our businesses and our citizens. I would like to commend the Quebec delegation in Brussels for its contributions to Canada’s diplomatic efforts.

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Pierre Poilievre

Conservative
“The Prime Minister gets no results. Ten European countries still have not signed our trade deal. He also wasted the extra money the government took in from inflation. The budget officer says he will add $733 billion to our debt over five years. That means $40,000 more debt for each Canadian family. He costs Canadians too much.”
Official Hansard

Mr. Speaker, there is no rapprochement happening. No agreements have been signed, either. Ten European countries have not signed the agreement we already have. There have been no results. The Prime Minister is all talk and no action. The same goes for spending. Inflation caused government revenues to skyrocket, but the Prime Minister squandered the money. The Parliamentary Budget Officer reports that he is planning to add $733 billion to our debt over the next five years, which amounts to an additional $40,000 in debt for every Canadian family. How can the Prime Minister be so out of touch and so costly for Canadians?

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Joël Lightbound

Liberal
“Our economy is getting results. Our exports to countries other than the U.S. went up by $33 billion, which is an 11% increase. The opposition leader claims our spending causes inflation, but he never explains what he means. Does he think the child benefit money we send to hundreds of thousands of Quebec families causes inflation?”
Official Hansard

Mr. Speaker, there is far too much to unpack in that question. First, he said we are “all talk and no action” and that there have been few results, but I would point out that our non-U.S. exports have increased by $33 billion in recent years. That is an 11% increase at a time when we are seeing a realignment of the Canadian economy to be more resilient and more self-reliant. Now, whenever he talks about inflationary programs, I always ask the Leader of the Opposition the same question, but he is never able to come up with an answer: What exactly is an inflationary program? For example, is it the 213,000 children in Quebec who benefit from the Canada child benefit and the $819 million that is sent to Quebec families to meet their needs? Is that an inflationary program?

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Pierre Poilievre

Conservative
“Inflation will bring the government twenty billion dollars, but regular Canadians are using food banks and cannot afford housing. The Prime Minister is still adding 733 billion dollars to the national debt over five years. That is 40,000 dollars for every family. I want him to admit he is out of touch and that Canadians are out of money.”

  • Opposition question in Question Period

    Signal 15 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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Official Hansard

Mr. Speaker, inflation is going to bring a $20-billion revenue windfall to the government. That is great news for the Prime Minister but terrible news for the people lined up at food banks and the young people who cannot afford a place to live. It is still not enough to offset the irresponsibility of the big-spending Prime Minister, who is going to add $733 billion to our national debt over five years according to the Parliamentary Budget Officer. That is $40,000 for every family in Canada. Will he acknowledge that he is out of touch and that Canadians are out of money?

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Wayne Long

Liberal
“The Conservative leader has no credibility on the economy because he has never worked in it. Our government has a strong economic plan. We brought in $500 billion in investments, exports to other countries will double over the next ten years, and foreign investment is the highest it has been in decades.”

  • Government answer in Question Period

    Relevance 15 of 100

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

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  • Government answer in Question Period

    Signal 35 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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Official Hansard

Mr. Speaker, the leader, as Canadians know, has no credibility when it comes to the economy. He has never worked one day in it. On this side of the House, we have a plan. We have a plan to build Canada strong. At the Canada investment summit, there was $500 billion in investments. Non-U.S. exports are set to double over the next decade. Foreign direct investment is at levels not seen in decades. On this side of the House, we have a plan to invest in our economy and to build our economy strong. The leader continues with the rhetoric.

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Pierre Poilievre

Conservative
“The Prime Minister needs to answer for his record deficit. Paying interest on the national debt is the fastest-growing part of the budget, and it costs a family of four $6,000 this year. He needs to admit that our debt is out of control.”
Official Hansard

Mr. Speaker, if the Prime Minister had any results at all, he would stand up and answer questions about his record deficit and the fact that the fastest-growing item in the budget is not health care, not the military and not borders, but interest on the national debt, enriching his banker buddies at the expense of hard-working Canadians. The average family of four will spend $6,000 this year on taxes to fund interest on debt. Will he acknowledge that he is out of touch, that Canadians are out of money and that the debt is out of control?

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Wayne Long

Liberal
“Our economy is doing well. Canada has the best debt-to-GDP ratio, the fastest growth, and the best credit rating in the G7. The Prime Minister understands business, while the Conservative leader has never worked in the real economy and has done nothing useful in his decades in Parliament.”

  • Government answer in Question Period

    Relevance 31 of 100

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

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  • Government answer in Question Period

    Signal 38 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

  • A repeated line

    “The lowest net debt to GDP in the G7 and one of the lowest deficits to GDP in the G7.”

    Said 6 times by 2 members since May 6.

    Every time it was said
Official Hansard

Mr. Speaker, do members know what a good leader does? A good leader does not raise his hands up, blame everybody else and offer nothing constructive as a solution. On this side of the House, let us look at some economic facts: the best net debt-to-GDP in the G7, the fastest-growing economy in the G7 and the best credit rating in the G7. On this side of the House, we have a Prime Minister with economic and business credentials. The leader has never worked one day in the economy and is in his third decade in the House producing nothing.

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