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Finance

The debate centered on national fiscal health, economic growth, and the cost of living. Government representatives maintained that Canada has one of the fastest-growing economies in the G7 and addressed inflation through specific spending measures, such as tax cuts, the national groceries and essentials benefit, and school food programs. Opposition members countered that the government’s expansive spending is accumulating unsustainable debt and that rising interest rates are increasing the cost of living for Canadians. Furthermore, members of the opposition argued that Canada’s economic growth is plateauing significantly below global and U.S. rates, while government representatives stated that opposition votes frequently opposed measures designed to help affordability, such as child benefits and dental care.Written by AI from the debate. Updated .

Official text

10 statements

Sandra Cobena

Conservative
“The Prime Minister is adding more debt in five years than all past prime ministers combined. His spending made interest rates go up, which makes this debt cost even more. I want him to explain who will pay it back and how.”

  • A repeated line

    “The Bank of Canada has raised rates.”

    Said 3 times by 2 members since October 28.

    Every time it was said
Official Hansard

Mr. Speaker, the Prime Minister promised to move at speeds not seen in generations, but Canadians did not realize that what he meant was accumulating debt at speeds not seen in generations. In five years, he plans to add more debt than all prime ministers before Justin Trudeau combined. Today, because of the Liberals’ inflationary spending, the Bank of Canada has raised interest rates, making government debt even more expensive. Can the Prime Minister explain who will repay this mountain of debt and how?

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Evan Solomon

Liberal
“The opposition only criticizes our economy, but criticism does not create jobs or make life affordable. They voted against money for groceries and against investments in local businesses in their own ridings. They should support our programs so we can build the country together.”

  • Government answer in Question Period

    Relevance 4 of 100

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

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Official Hansard

Mr. Speaker, all the opposition members do is talk down our economy and our workers, but they do not realize that criticism does not create jobs. Their negativity does not make life affordable. Did the Conservatives vote for the groceries and essentials benefit? No. Do they vote to make life more affordable? No. In the member’s own riding, when we support Technical Steel Corp or Exco Engineering, do they support that investment in businesses to create jobs? No. They should get with the program, and we should build this country strong together.

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Sandra Cobena

Conservative

Linked statement

“My question was not answered. The Prime Minister is borrowing money just to pay the interest on our debt. Today, interest rates went up. That means higher mortgage payments for families, higher borrowing costs for the government, and more tax dollars wasted on interest instead of services. When will the Prime Minister get this borrowing under control?”

  • A repeated line

    “The Bank of Canada has raised rates.”

    Said 3 times by 2 members since October 28.

    Every time it was said
Official Hansard

Mr. Speaker, the member did not answer my question. My question was about the vicious cycle that the Prime Minister is building, which is more debt, more interest and more borrowing. In fact, he is borrowing to pay for the interest he already owes on the debt that he already took on. Today, the Bank of Canada raised interest rates. Now, the government pays more to borrow, families pay more on their mortgages and more taxes go toward interest instead of services. When will the Prime Minister break his vicious cycle and finally get this borrowing under control?

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Evan Solomon

Liberal
“Canada has the fastest growing economy and the lowest debt ratio in the G7. We are creating jobs. The Conservatives talk about affordability, but they voted against child care, school food, and dental care. We will keep making life more affordable for everyone.”

  • Government answer in Question Period

    Relevance 0 of 100

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

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Official Hansard

Mr. Speaker, Canada has the fastest growing economy in the G7 and the lowest debt-to-GDP ratio in the G7. We are creating jobs. The Conservatives talk about making life more affordable, but they do not do anything about it. Do they vote for affordable child care? No. Do they vote for national school food lunches? No. Do they vote for dental care? No. All they know how to say is no to Canadians. We will continue to say yes to building Canadian, yes to building strong and yes to making life more affordable for everybody.

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Adam Chambers

Conservative
“The Prime Minister assumed interest rates would go down, but they went up instead. His high spending and borrowing pushed interest rates higher, which costs Canadians more on their mortgages and taxes. I want the Prime Minister to tell Canadians how much his mistake has cost them.”
Official Hansard

Mr. Speaker, the Prime Minister assumed in his first budget that interest rates would stabilize and go lower, except they have actually been going up, including at the Bank of Canada. That means that Canadians will pay more when they renew their mortgage, but it also means taxpayers are on the hook for billions more. Why is that? It is because the Prime Minister chose to double the size of the deficits he inherited, and he has pushed borrowing to record numbers, including nearly $600 billion this year alone. Will the Prime Minister tell Canadians how much his mistake has cost Canadians with higher interest rates?

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Rechie Valdez

Liberal
“Our government is helping Canadians with the cost of living. We cut taxes for 22 million people. We gave an average family of four about $1,900 for groceries and essentials. We also increased the child benefit by $160 per child this year.”

  • Government answer in Question Period

    Relevance 44 of 100

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

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  • A repeated line

    “We cut taxes for 22 million Canadians.”

    Said 17 times by 12 members since April 27.

    Every time it was said
Official Hansard

Mr. Speaker, I will share that we have chosen to be there for Canadians. In fact, thanks to our government, we have cut taxes for 22 million Canadians. This means more money stays in their pockets. While things are challenging at the grocery store, we have delivered the national groceries and essentials benefits so that the average family of four in our ridings receive close to $1,900. That is real support, and we are going to continue to be there. The good news, also, is that we have increased the Canada child benefit. That is an additional $160 per child this year.

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Dominique Vien

Conservative
“The Bank of Canada says inflation will stay above 3% until the end of 2027. Raising the fuel tax will push inflation even higher and hurt families and farmers. When will the government stop making choices that drive up the cost of living?”
Official Hansard

Mr. Speaker, the Bank of Canada says inflation is going to remain high and exceed 3% until the end of 2027. As a result, the cost of living will continue to rise, putting even more pressure on Canadian families and farmers. Furthermore, the government intends to increase the federal fuel excise tax. The bank itself admits that this increase will drive up inflation. This is completely irresponsible. When will the government put an end to its inflationary decisions that are driving up the cost of living?

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Steven MacKinnon

Liberal
“The member asks about high costs, but she voted against help for Canadians. She voted against help for dental care, child benefits, and groceries. She must explain those votes to the people who elected her.”

  • Government answer in Question Period

    Relevance 6 of 100

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

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Official Hansard

Mr. Speaker, the MP rose to speak about affordability, yet time and again she has voted against measures designed to help Canadians, to help the people in her constituency. Whether it is dental care, the Canada child benefit or the groceries and essentials benefit, she has consistently opposed any support for Canadians. She will have to explain those choices to her constituents.

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Dominique Vien

Conservative
“The Bank of Canada says our economy is failing. Growth is stuck at 1%, which is far behind the rest of the world, and people cannot find jobs. The government must stop raising taxes and use our plan to create good jobs.”
Official Hansard

Mr. Speaker, I am quoting the Bank of Canada, which is confirming the Liberal government’s failure on the economy. Our growth has plateaued at 1%, which is less than half the rate in the United States and barely one-third of the global growth rate of 3.1%. Worse still, half of this result comes from government spending alone. According to the Bank of Canada, “Finding work continues to be challenging”. This situation is untenable, especially in the middle of a cost-of-living crisis. When will the government stop adding to the tax burden and adopt our Conservative plan to create stable, well-paying jobs?

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Anna Gainey

Liberal
“We know Canadians are struggling with costs. That is why we funded school food, lowered the fuel tax, helped with grocery costs, and gave poorer families money for heat pumps. I want the Conservatives to vote for these measures.”

  • A repeated line

    “We have also made the national school food program permanent.”

    Said 14 times by 11 members since May 7.

    Every time it was said
Official Hansard

Mr. Speaker, we understand the challenges Canadians are facing. That is why we made the national school food program permanent. That is why we lowered the fuel tax. That is why we brought in the groceries benefit. More recently, we announced the national heat pump rebate of $10,000 for low-income families. We are there for Canadians. It would be nice to have the support of the members across the way on these issues.

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