Mr. Speaker, we are facing this economic threat at a time when Canada is very weak. Our economy is in free fall. Our GDP has shrunk faster than any other G7 country since the year before the COVID-19 pandemic. Twenty-five per cent of Canadians are living in poverty. The cost of housing has doubled. It has increased faster than in any other G7 country. Canadian families have more debt than in any other G7 country. This is all before President Trump's tariff threat.
We reject Mr. Trump's threats and propose an emergency debate to develop a plan that puts Canada first, a plan to protect our economy and our security. That is why we are calling for this debate. After nine years, Canadians are suffering. They can no longer cope with economic threats, especially after the damage caused by the current government here. Mr. Trump's tariffs, combined with the Prime Minister's taxes here in Canada, are untenable for Canadians. We need an action plan now.
Today's economic threat comes at a time of maximum economic and national security weakness. Our economy is collapsing, with the GDP per capita smaller than it was ten years ago, having dropped more than that of any other G7 country since the year before COVID. Our housing costs have doubled. Food bank use has doubled. Housing inflation has been the worst in the G7, as has household debt compared to income. Half a trillion dollars' worth of investment has poured out of our country into the U.S. Canadians already face a crippling quadrupling of the carbon tax, which by itself would send hundreds of thousands if not millions of jobs south of the border.
Now, sensing weakness, President-elect Trump threatens massive tariffs on our people and our economy. Canadians will not be able to eat, to heat their home and to house themselves if they face the combination of NDP-Liberal tax hikes and American tariffs. That is why common-sense Conservatives are calling for an emergency debate to develop a plan to protect our economy and our security, a plan that puts Canada first.
We want a Canada first plan to defend our people. We as a Conservative team ask for the Speaker's approval to hold the debate as early as tonight. Let us put partisanship aside. Let us stand up for our people. Let us put our country first and foremost. Let us bring it home.