Mr. Speaker, fall economic statements were introduced by Liberal finance minister Paul Martin in order to combat the deficit. Mr. Martin's legacy seems to have been tarnished by the new practices of this incompetent Liberal government. The $40‑billion deficit target seems to have been exceeded, and then some.
The Parliamentary Budget Officer now forecasts a 2024-25 federal deficit of $46.4 billion, exceeding the already astronomical targets. Canadians are calling the government to account and demanding that it immediately reveal the true size of the deficit, whose consequences will be borne by future generations.
A Conservative government will fix the budget by enacting a dollar-for-dollar law that requires all new spending be offset with an equal amount of savings. That is how Canadian families manage their finances and make it through to the end of the month. This is how a responsible Conservative government will fix the budget.