Mr. Speaker, after a record two years, Canadians were finally provided with the federal budget. Unfortunately, it was the longest wait in our nation's history in some of the most troubling times in a generation.
Before I begin addressing the budget and the impact it will have on the people I represent, I want to congratulate the Minister of Finance on making history. Last month, she became the first woman to deliver a federal budget in Canadian history, and for that I applaud her. This is a historic step forward in inspiring women across our country.
Unfortunately, the current Liberal government has a problem, a spending problem. It has said that increasing the national debt to an unimaginable $1.4 trillion is to stimulate the economy, but we all know the only thing the government is focused on is stimulating voters. It is obvious the Prime Minister is more focused on keeping his job than on doing his job. By next year, he will have accumulated more national debt than all previous prime ministers combined.
One of the world's most respected investors, Warren Buffett, famously said, “Price is what you pay. Value is what you get.” The current government does not understand the difference between the two. It is more focused on how large the price tag is instead of how much value it will bring to Canadians.
The foundation to any good economic policy is to measure the output or the results. The federal government has tried to justify that its record-breaking deficit is a strategic investment so our economy can come roaring back, but that is not the case. This budget fails to provide a real plan for job creation and long-term economic growth. As a matter of fact, the Prime Minister's former adviser questioned this budget. He admitted the Liberals are, “doubling down on programs that do not address our innovation shortcomings and have yielded few results to date.” Where is the plan for coherent growth? Where is the plan to be competitive on the world stage? Where is the plan to foster an economic environment that allows the agriculture, forestry and tourism industries to thrive? There is no plan because the government is fixated on price instead of value.
My constituents know what happens when governments spend money without a plan. They understand because they have experienced it before. It was the Prime Minister's father who famously took the same approach in the 1980s, with record deficits, reckless spending, no fiscal guardrails and no plan. As a result, Canadians suffered a debt crisis. My constituents can remember the all-time high interest rates, the extreme inflation, the record unemployment rates and the massive increase in poverty. My constituents are concerned about spending without a plan because they have lived through the damage before.
I think of Diane in Minitonas, who reached out to me and expressed her concerns regarding the budget. She is concerned this budget is unaffordable for Canadians. As a mother of four, she is worried about the future of her children, who will have to pay for the record spending. I share her concerns. My constituents are seeking a plan in this budget that would outline the future of our recovery from this pandemic, but they did not get one. I represent thousands of locally owned and operated businesses throughout rural Manitoba. Agriculture, forestry, tourism and hospitality are the foundations of the communities and families of our region. Whether it be the businesses surrounding and within Riding Mountain National Park that rely on tourism or the restaurants and coffee shops that rely on regular local visitors, the small businesses that I represent want certainty for a secure economic future. What they are not seeking is a reimagined economy.
The finance minister sees things differently from my constituents. She has stated that the COVID-19 pandemic “has created a window of political opportunity”. Thousands of Canadians have died, jobs have been lost and businesses have been shuttered, but the government sees the tragedy as a political opportunity.
I recently heard from an outfitter in my riding who relies on business from American clientele. She is frustrated that the government refuses to discuss what the future will look like with our American neighbours post-pandemic. Unfortunately, because the federal government has failed to provide our country with enough vaccines, it cannot have these important conversations.
While other developed nations reopen for travel and business, Canada is experiencing a third wave because of this Prime Minister's own incompetence. Premiers across Canada have called on the federal government to increase health care funding. However, this budget has no new money for health care transfers to provinces such as Manitoba. In a time when the federal government should be stepping up to support the provincial health care system, the Liberals turned a blind eye in their budget.
The seniors in this country were also disappointed to read this Liberal budget. Once again, the current government has failed our seniors by not providing them the support they need. Seniors across my constituency are telling me that they can no longer afford to live with dignity on a fixed income, due to the rising cost of living.
I will admit that there are some things that sound good in this budget. For example, I welcome the proposed investments for connectivity. Access to high-quality Internet and cellular service is essential for all Canadians, and investments into rural Canada are key to closing the connectivity divide. However, I am skeptical of this promise because, as of today, no money from the existing universal broadband fund has been announced for Manitoba. Proposals such as the Parkland multi-community broadband project have yet to receive any funding. I would strongly caution Canadians on the promises in this budget. The Liberals are notorious for over-promising and under-delivering, and my constituents know that.
The best way to predict the future is to look into the past. Let us examine the record on a few of the previous promises. The Liberals promised to plant two billion trees. They promised to end the boil water advisories. They promised not to raise the Liberal carbon tax. They promised to be accountable. They promised to balance the budget. Guess what? They failed to deliver all of these promises.
I should remind the House that it was only last year when the government mentioned the importance of the fiscal anchor and fiscal guardrails. Well, Canadians will be shocked to learn that the car has driven off the cliff. The government does not believe in fiscal sustainability. In nearly 750 pages, there is no clear mention of a fiscal anchor.
Canadians of today may not experience the full impact of government debt, but I can assure this House that Canadians of tomorrow will experience not only today's debt but the interest as well. Each Canadian is now responsible for $33,000 in federal debt, and that number is growing. By 2026, interest payments on the federal debt could reach $40 billion a year. By next year, this Prime Minister will be responsible for more debt himself than all of the previous prime ministers combined.
Unfortunately, this budget does not tell Canadians how the government is going to pay for this record amount of debt. I suspect that the explanation of how the Liberals will pay for the new debt will not be shared until after the next election. I am confident that if the current government is re-elected, taxes will go up and promises will be broken as soon as the campaign is over, because history is bound to repeat itself. Canadians will not be tricked. They understand that higher spending today means higher taxes tomorrow; and, when inflation decreases the value of hard-earned savings accounts and higher interest rates prevent home ownership, the last thing Canadians want are higher taxes.
I will conclude with the words of former American president Herbert Hoover, who said, “Blessed are the young, for they shall inherit the national debt”. I can assure Canadians that a Conservative government would unleash the economic potential of our nation, stand up for rural Canada, and secure the future for all Canadians.