Madam Speaker, here we are debating the economic statement implementation act, following a throne speech after prorogation, but before I get into the substance of my speech, I think it is important to again put on the record the context that this debate is taking place about 600 days since the last federal budget. It has been 600 days since Canadians had a fulsome view of the finances of our nation. Certainly, I think that reality should cause many to pause and question the objectives and agenda of the federal government.
We all understand the unprecedented times we face. However, provinces, other jurisdictions and cities have all been able to figure out how to present, approve and manage the budgetary process, yet here we are 600 days later. Conservatives certainly were calling for fulsome economic details the entire way, but we have not gotten those, which is incredibly troubling. That is the context, the 30,000-foot view of the bill we are debating, Bill C-14.
I spent a lot of time on the phone last night with constituents. The Liberals are very, very quick to brag about the way they have handled this crisis. In fact, the associate minister and parliamentary secretary just prior to me were bragging about how much they spent, $400 billion. However, one has to consider not just the dollars that are spent, but also consider how effectively those dollars are being spent and what the result is. Certainly, when any Canadian goes shopping, they do not simply look at who can spend the most. They look at the value for the dollars being spent. That is just part of simple budgeting, which speaks to my initial point.
On this side of the House we have great concern about the effectiveness of some of these dollars. Supports have been needed. I know the Liberals are quick to say that Conservatives would not have done all of this. We have been collaborative throughout the entire process, but critical at the same time because there is much to be critical of. When we look at the results of what has been spent there are some serious questions. That is what I heard from constituents last night.
I want to bring together the speech I made a couple of days ago and what we are discussing today, specifically, the economic realities that my constituency is facing. I spoke to a rancher in a small community in my constituency. She was almost in tears on the phone and said that we should with the Prime Minister and the Liberals this comment: “Look me in the eye and tell me there's no future for my kids in Alberta”.
We were talking about the economic circumstances of Alberta and Alberta's place in the federation. It is heartbreaking the number of people whom I speak to who think that Alberta might be better off alone. I know that the members opposite will want to play politics with that issue, but I will say that as a member of Canada's national Parliament and a proud Canadian, to hear so many who feel that Canada has given up on them and that they have no choice is tragic. That should cause all involved in national leadership to pause. Certainly, that relates directly to what we are talking about here today.
I also got an email that sums up quite a few of the other calls I got last night. I will not read it all, partly because the language used is not parliamentary, but it still provides the context of the devastating circumstances around Keystone, the energy sector and the economy, with the service sector being pummelled and hotels being closed. All of these things are seeing a level of tragedy that is unbelievable. This is talking about the mental health effects specifically. In this case, two parents from her son's class saw no hope and committed suicide. I have put that on record because it provides the context of how important it is to get this right.
There is a whole host of issues addressed in this bill and, quite frankly, there are some things that need to be addressed. Some of aims to fix some of the issues with previous legislation that was brought forward. Some of the issues were identified early but we are only now fixing. Some of them are promises that were made in the throne speech that the government is now attempting to actualize. Some issues have been mentioned, such as that the entire House agreed on the need for action on student loans, but which we are only now seeing the government get to.
There is a bit of understanding of something that I would like to bring into context with regard to the spending part of what this bill addresses. There is certainly some concern when it comes to the overall spending, although there has been no question that supports have been needed. That is why Conservatives have stepped up to the plate. In fact, we attempted to collaborate, and here I can give the government a bit of credit because in some cases there has been successful collaboration. Unfortunately, there have been other times when there was unwillingness on the part of the government to come forward in a fair and transparent way. We can reference its attempted power grab early in the pandemic when the Liberals wanted unlimited tax and spending powers, frankly attempting to roll back 800 years of parliamentary tradition. There have been scandals, which we certainly are still demanding answers on, such as WE Charity and Baylis Medical, among others.
There was the prorogation for no other reason than the fact the Prime Minister was trying to hide from his own mistakes, and so he prorogued Parliament. Although the Liberals will claim they only lost two days of parliamentary sittings, Canadians can see through that. When we look at the facts, about 35 days were lost, especially when we include the bills on the Order Paper that had to be reintroduced and debated, many of which came back exactly the same, even though issues had been identified with them.
As I come to the conclusion of my remarks, in part 7 of this bill, there is an increase in Canada's borrowing authority. We have seen unprecedented growth in the spending of our government and this economic statement that we will be voting on speaks to aspects of that.
According to the Parliamentary Budget Officer, by the end of fiscal year 2023-24, the spending of the government, when it comes to debt financing requirements, will be $1.642 trillion. However, I would note that the Borrowing Authority Act asks for $1.831 trillion. There is a discrepancy there, doing math quickly in my head, of $207 billion. If the government plans to spend that $207 billion, it is the right of the government to bring forward that legislation and that plan to suggest so.
However, we have seen an unprecedented lack of transparency in the way the current government has operated and here we see a massive increase in the borrowing authority of the government for what is not the government's money. That is one of the frustrations. Whenever I hear a prime minister or a minister or any level of government say it is their money to spend, that is one hundred per cent categorically false. It is taxpayer money. It is hard-working taxpayers who spend that.
Therefore, I believe there are serious questions that need to be answered, whether in regard to Bill C-14 or the overall circumstances that we find ourselves in. I look forward to questions.