Evidence of meeting #5 for Finance in the 45th Parliament, 1st session. (The original version is on Parliament’s site, as are the minutes.) The winning word was garon.
A video is available from Parliament.
Liberal
François-Philippe Champagne Liberal Saint-Maurice—Champlain, QC
The money was not returned to Quebeckers because the carbon tax did not apply to Quebec.
October 6th, 2025 / 11:40 a.m.
Liberal
The Chair Liberal Karina Gould
This round of questioning is over.
I now turn to Mr. Kelly, from the Conservatives, for five minutes.
Conservative
Pat Kelly Conservative Calgary Crowfoot, AB
Thank you.
Minister, in what year will the budget be balanced?
Liberal
François-Philippe Champagne Liberal Saint-Maurice—Champlain, QC
Our budget will be a generational investment in the future of this country. You're going to be happy, Mr. Kelly, because there will be a lot for you to talk about to your people in Alberta.
Conservative
Pat Kelly Conservative Calgary Crowfoot, AB
If you don't mind, Minister, would you answer my question? In what year will it be balanced?
Liberal
François-Philippe Champagne Liberal Saint-Maurice—Champlain, QC
As I said, I have already responded to this question, but what you're going to see are generational investments to put this country on a path to being the strongest economy in the G7.
Conservative
Pat Kelly Conservative Calgary Crowfoot, AB
Minister, you may have responded to the question, but you haven't answered it. I'm asking you, since this is a parliamentary committee, whether you would answer the question.
In what year will the budget balance?
Liberal
François-Philippe Champagne Liberal Saint-Maurice—Champlain, QC
I've already answered that question. You can ask me as many times as you want, sir, but the answer is going to be very similar to what I've told you before.
Conservative
Pat Kelly Conservative Calgary Crowfoot, AB
Humour me, then. Tell me when you answered that question.
Liberal
François-Philippe Champagne Liberal Saint-Maurice—Champlain, QC
I've already answered that question. We've been very clear that we're going to balance the operating budget by 2028-29.
Conservative
Pat Kelly Conservative Calgary Crowfoot, AB
Okay. Minister, it's correct that you have been asked this question many times, including by me. You have responded many times. You have never answered it. You have just now said something about an operating budget. I understand that you are distracting Canadians with accounting rule changes, but I would like you to answer. I'll give you one more chance to answer my question.
When will the budget be balanced?
Liberal
François-Philippe Champagne Liberal Saint-Maurice—Champlain, QC
I've heard you very well, and I think it's irresponsible for a member of Parliament to suggest the question you've been asking.
The deficit and the debt will be calculated and presented, as they have always been, in accordance with the accounting principles.
Canadians are watching that, and they're watching you carefully. They understand it. I just did a press conference and, trust me, Canadians really understand that. They said—
Liberal
François-Philippe Champagne Liberal Saint-Maurice—Champlain, QC
—that the government will present a new lens so they have more transparency and more clarity.
You should talk to your colleagues at the provincial level. They really welcome what we're doing, sir, and that's what you've been asking me.
For the record, the committee of Parliament has been asking—
Liberal
François-Philippe Champagne Liberal Saint-Maurice—Champlain, QC
—the Minister of Finance to change the budget cycle.
Conservative
Liberal
François-Philippe Champagne Liberal Saint-Maurice—Champlain, QC
We're responding to the wish of Parliament.
Conservative
Pat Kelly Conservative Calgary Crowfoot, AB
Minister, you were refusing to answer the question, as you have refused to answer this question repeatedly. I am left to conclude that the budget will never be balanced under this government.
In fact, at the operations committee, the PBO said that the path we're on currently “is not sustainable”, and when he was asked what year the budget will be balanced, the PBO said, “Is that a trick question?”
It's not a trick question. It's a question that Canadians need answered by the Minister of Finance, so will you answer, at this committee, and tell Canadians what year you will balance the budget?
Liberal
François-Philippe Champagne Liberal Saint-Maurice—Champlain, QC
Let me just quote a previous parliamentary budget officer, who said, “It's not shocking to see a deficit go up because the economy is slowing and we have NATO commitments. To me, it's sustainable”. That was Kevin Page, sir—
Liberal
François-Philippe Champagne Liberal Saint-Maurice—Champlain, QC
—who was a parliamentary budget officer for quite some time.
Conservative
