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Finance

The debate focused on Canada’s financial outlook and government borrowing. The opposition criticized the Liberal government, citing projections of $733 billion in borrowing over the next five years and arguing that rising costs were negatively affecting Canadian families. The government countered these claims by stating that Canada has the strongest fiscal position in the G7, pointing to its low net debt-to-GDP ratio and high economic growth.Written by AI from the debate. Updated .

Official text

2 statements

Luc Berthold

Conservative
“The government plans to borrow $733 billion more over the next five years. Prices and interest rates are going up, and families are paying the price. I want the government to get its spending under control.”
Official Hansard

Mr. Speaker, this was a bad week for the Liberal government and the Prime Minister, but it was even worse for Canadian families. The Parliamentary Budget Officer is projecting a $733-billion increase in government borrowing over the next five years. Inflation is rising, food prices are up and the Bank of Canada is raising interest rates, which is going to have a serious impact on young homeowners who are already struggling to pay their mortgages. The Prime Minister’s elaborate speeches may help the Liberals avoid facing what is really happening, but families are paying the price. When will the Liberals get their spending under control and save families money?

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Ryan Turnbull

Liberal

Linked statement

“What the member said is not true. Canada's finances are the strongest in the G7. We have the lowest debt compared to our economy and had the highest growth in the G7 last quarter. We also have record business investment and strong trade outside the United States.”

  • Government answer in Question Period

    Relevance 35 of 100

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

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  • Government answer in Question Period

    Clarity 46 of 100

    Much of this statement used imprecise wording, lacked details on timing or responsibility, or made broad claims without support.

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Official Hansard

Mr. Speaker, nothing could be further from the truth than what the member utters in the House. Conservatives like to try to instill doubt. There is no denying that Canada has the strongest fiscal position in the G7. We have the lowest net debt-to-GDP ratio and the highest second quarter growth in the G7. That is well-recognized. We are using that strength to focus on what we can control to counteract the headwinds that the country faces. We have seen record numbers in new business investment and foreign direct investment, and further domestic commitments, reaching nearly half a trillion dollars. We have seen the highest level of non-U.S. trade and much—

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