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Finance

During question period on finance, members debated the government’s recent budget and its deficit and debt levels. Conservatives said the projected deficits—including a $150 billion total deficit and $288.7 billion in operating deficits over five years, with total debt reaching $1.593 trillion—are burdening future generations, driving up debt interest costs of over $1 billion a week, and doing nothing to help Canadians facing job losses, high food prices and unaffordable housing; they asked the government to balance the budget and control spending. Liberal ministers and members replied that the deficit fell 40% in 2025-26, that day-to-day spending is being balanced a year ahead of schedule, that the government cut taxes for 22 million Canadians, found $60 billion in savings through an expenditure review, and is delivering measures like a groceries and essentials top-up of $2,570 for a family of four, a fuel tax pause, $10-a-day child care, and school meals. Liberals also pointed to job creation figures, including nuclear projects at Darlington and Pickering, and said Conservatives were focusing on bad news about Canada; Conservatives countered that the job-creation figures were aspirational while 50,000 private-sector jobs were lost in the last month.Written by AI from the debate. Updated .

Official text

14 statements

Jacques Gourde

Conservative
“Liberal overspending is putting too much debt onto our children and grandchildren. The government plans to spend $288.7 billion more than it takes in over the next five years, bringing total debt to $1.593 trillion. I want the government to balance its budget.”
Official Hansard

Mr. Speaker, we cannot become masters of our destiny by mortgaging our grandchildren’s future. Canadians are trapped by Liberal debt. The projected deficit for the next five years is $288.7 billion, just for government operations, bringing the total to $1.593 trillion. When will the Liberal government start thinking about returning to a balanced budget?

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Carlos Leitão

Liberal
“Now is not the time to balance the budget. We are spending two-thirds of our financial support on the economy and investments. That is how we build a good future for our grandchildren.”
Official Hansard

Mr. Speaker, it has been said before that we should not be obsessed with balanced budgets. Now is not the time to get into that. I, too, want to ensure that my grandchildren have a bright future. That is where we are going with two-thirds of our financial support measures. Two-thirds will go toward supporting the economy and increasing investment. Investing in our new economy is how we are going to ensure a bright future for our grandchildren.

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Jacques Gourde

Conservative
“The government is spending money today and leaving the debt for future generations. I want the government to stop spending like this so our grandchildren do not have to pay for it later.”
Official Hansard

Mr. Speaker, the Liberals are pushing today’s problems down the road by cutting a cheque. They are offloading them onto my grandchildren. Maéva, Loïc, Béatrice, Delphine, Arthur, Mathilde, Clémence and Octave are calling on the Liberal government to take responsibility today so that they will not be crushed by debt tomorrow. Will the Liberal government finally listen to the people who are going to foot the bill?

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Rachel Bendayan

Liberal

Linked statement

“The member has not read the full budget. Our numbers show the deficit dropped by 40% in 2025-26, and we balanced day-to-day spending a year early. We set two clear financial goals last year, and this budget meets both and goes further.”
Official Hansard

Mr. Speaker, I do not think my colleague has had the chance to read the budget in full. The figures we presented yesterday show that the deficit fell by 40% in 2025-26. In fact, we are balancing day-to-day spending a year ahead of schedule. Last year, we set two clear fiscal anchors: balance the operating budget and reduce the deficit-to-GDP ratio. The 2026 budget that we presented yesterday meets both of these anchors and goes even further.

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Dane Lloyd

Conservative
“The Prime Minister is spending too much money. Canada is projected to have a $150 billion deficit, we pay over $1 billion a week in debt interest, and we lost over 50,000 private sector jobs last month. I want the Prime Minister to stop this debt spending.”
Official Hansard

Mr. Speaker, the Prime Minister claims his budget will make Canadians masters of their own destiny but with this massive debt binge, the only masters are global bankers and bondholders. The total deficit, projected at $150 billion, undermines our economy. Debt interest payments are now over $1 billion each week, and the fiscal guardrails are far in the rearview mirror. Canada lost over 50,000 private sector jobs just last month. Unemployment is up. When will the Prime Minister finally master his credit card spending so that Canadians will not be mastered by his debt?

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Corey Hogan

Liberal
“Stephen Harper ran deficits in seven of his nine years. Our plan is working in Alberta. We added 40,000 jobs this year, including 4,000 youth jobs. A pipeline and a carbon capture project are moving ahead. The Conservatives should support our plan.”

  • Government answer in Question Period

    Relevance 45 of 100

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

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Official Hansard

Mr. Speaker, I just want to remind my colleagues across the way that Stephen Harper ran deficits in seven of nine fiscal years. In Alberta, we are seeing the plan we are putting in place go to work. We have 40,000 new jobs this year, 4,000 of which are youth jobs. We have the Pacific link pipeline under construction next year. We also have the pathways carbon capture project going. It is an exciting time to be a Canadian. It is an exciting time to be an Albertan. I really hope they get on board.

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Dane Lloyd

Conservative
“The government's deficit is really $150 billion, not $62 billion. Printing money is driving up inflation, and Canada lost 50,000 jobs last month. The Prime Minister must stop his out-of-control spending.”
Official Hansard

Mr. Speaker, if I mastered my own finances the same way the Prime Minister masters the budget, I would not qualify for a payday loan at Money Mart. The Prime Minister told Canadians his deficit was only a measly $62 billion but when he includes his so-called investments, it reaches $150 billion. This kind of accounting trickery would not get someone a bank loan from the Prime Minister, but he keeps printing money and driving up inflation. Meanwhile, Canada lost 50,000 jobs just last month. When will the Prime Minister finally get his costly credit card spending under control so that Canadians will not be mastered by his debt?

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Ryan Turnbull

Liberal
“Conservatives only celebrate when they think Canada is failing. We are using our economic strength to help Canadians with the cost of living. We cut taxes on income, housing, fuel, and business investments. Our economy is growing, with billions in new investment and 50,000 new jobs in my region alone.”

  • 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.

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  • A repeated line

    “That is how we build Canada strong.”

    Said 21 times by 14 members since April 23.

    Every time it was said
Official Hansard

Mr. Speaker, why does it seem that Conservatives only seem to celebrate when they think Canada is failing? It is as if they are confirming what they really want every day in the House. We are standing up and using the fiscal strength that Canada has to make the country stronger, to support Canadians with real affordability measures. We have cut taxes on income, housing, fuel and new business investment. We have seen the economy growing, and we are continuing to invest in jobs. In my region alone, 50,000 new jobs have been created by our government. There are billions of dollars of new investment. That is how we build Canada strong.

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Garnett Genuis

Conservative
“The government hopes to create 50,000 jobs over five years, but we just lost 50,000 private sector jobs in one month. The member needs to stop pretending things are fine and start fighting for struggling Canadians.”
Official Hansard

Mr. Speaker, let us talk a bit about that 50,000 figure. The member said that there is an aspiration in the budget to, at some point in the next five years, create 50,000 jobs. In today’s job report, released today, we hear that 50,000 private sector jobs were already lost in the last month. That is not an aspiration. Those are real concrete numbers reported not by the finance minister but by Statistics Canada. The government whip pretending that things are better than they are does not comfort Canadians at home who are struggling. He should stop pretending that things are better than they are and start fighting for people who matter.

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Ryan Turnbull

Liberal
“The 50,000 jobs I talked about are real, not just wishful thinking. Nuclear projects in Darlington and Pickering alone mean over 51,000 real jobs in my region.”
Official Hansard

Mr. Speaker, it is not aspirational when I mentioned 50,000 jobs. The new nuclear project at Darlington is 21,700 jobs in my region alone. The Pickering refurbishment project is another 30,000 jobs. Those are real jobs for real Canadians in my region. That is not aspirational. That is not hope. It is real action in the real economy, creating growth and good jobs for the future. That is exactly what we are about on this side.

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Branden Leslie

Conservative
“The Prime Minister promised to lower costs and control spending, but he is borrowing billions of dollars instead. One in three Canadians is skipping meals because food costs too much. Taxpayers will be stuck with this debt. I want the Prime Minister to admit his plan has failed.”
Official Hansard

Mr. Speaker, the Prime Minister promised to make life affordable and get government spending under control. Instead, the Liberals gave Canadians a costly credit budget that should have been titled masters of debt. One in three Canadians is now skipping meals or eating less because they simply cannot afford groceries. While Canadians struggle to put food on the table, the Liberals continue to borrow billions and billions of dollars more, leaving taxpayers with the bill. How much debt does the Prime Minister intend to pile onto Canadians before he admits that his approach of just throwing it on the tab is no substitute for reasonable fiscal policy?

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Ryan Turnbull

Liberal
“We cut taxes for 22 million Canadians and saved $60 billion over five years. Now our economy is growing. Our budget uses that strength to give 12 million Canadians more money for groceries and essentials. We will keep investing in them.”

  • Government answer in Question Period

    Relevance 44 of 100

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

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Official Hansard

Mr. Speaker, one of the first things that our government did when elected was to cut taxes for 22 million Canadians. We then entered into a comprehensive expenditure review and found $60 billion in savings over five years from government operations. In the budget, we are leveraging that strength. We are enhancing the groceries and essentials benefit, offering hundreds more dollars per year to Canadian families. Twelve million Canadians are going to get more support this year as a result of the fiscal strength that our government has shown because our economy is growing. We will continue to invest in them.

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Branden Leslie

Conservative
“Liberal programs are not working. Families are struggling, and the government is spending $60 billion this year just on interest for its debt. That is more than we spend on health care. When will the Prime Minister present a plan to get spending under control?”
Official Hansard

Mr. Speaker, those programs clearly are not working, or they would not have put $100 million toward food banks that need more money to keep up with the pace of demand because of their policies. Families are already struggling with mortgages, groceries and gas. Half of Canadians say they have had to dip into their savings just to cover basic necessities, yet this year the federal government will spend $60 billion paying interest on the Liberals’ debt. That is more than we send to the provinces to deliver health care and nearly twice what families are provided through the Canada child benefit. With interest payments consuming more than 10% of the federal budget, when will the Prime Minister present a credible plan to get Liberal spending under control and reverse—

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Stephanie McLean

Liberal
“This budget helps Canadians right now. It gives a family of four $2,570 for groceries and essentials. It pauses the fuel tax, removes the consumer carbon tax, provides $10-a-day child care, and feeds 400,000 kids at school.”

  • Government answer in Question Period

    Relevance 45 of 100

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

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Official Hansard

Mr. Speaker, this budget puts money in the pockets of Canadians, not tomorrow, but today. We are increasing the amount of the Canadian groceries and essentials benefit so that, with this one-time top-up, families of four will receive $2,570. That is real money that they can put toward groceries and can use to ensure that their children have a good start. However, we do not stop there. There is no consumer carbon tax. We have put a pause on the fuel excise tax. There is $10-a-day child care and school meals for up to 400,000 children. They laugh. Some hon. members: Oh, oh!

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