Debates of Nov. 17th, 2025

Finance

[Patty Hajdu, Liberal, Minister of Jobs and Families and Minister responsible for the Federal Economic Development Agency for Northern Ontario]

Mr. Speaker, this historic budget aims to invest not only in infrastructure that is typically covered solely by provinces, but also in health infrastructure in small communities like Kenora, where communities are waiting for those investments so they, too, can have the kind of promise Canadians in larger municipalities have.

Let me be clear. In Nipigon, Ontario, where I visited a school food program, they are so excited that the program will become permanent. On this side, we know children need food to thrive. We hope the Conservatives do not vote against hungry kids.

[Éric Lefebvre, Conservative, Richmond—Arthabaska, QC]

Mr. Speaker, what is the role of the Parliamentary Budget Officer? He plays a key role when it comes to the federal government's financial transparency. He provides members of Parliament with an independent, non-partisan analysis of the state of public finances. So what does he have to say about the Liberal budget? He says that the government's “overly broad” definition of capital investments creates a major discrepancy with its estimates. The government will have to abandon its fiscal anchor of reducing the deficit-to-GDP ratio.

Does the Prime Minister recognize the work of the non-partisan parliamentary officer, or is he considering dismissing him?

[Joël Lightbound, Liberal, Minister of Government Transformation]

Mr. Speaker, the serious and ambitious alternative to what the Conservatives are proposing is budget 2025, with the best fiscal position of any G7 country, a AAA credit rating, and the lowest debt-to-GDP ratio of any G7 country.

This is also about making infrastructure investments to modernize our infrastructure. These are major projects to build the country, notably with Nouveau Monde Graphite, with Davie, back home in Quebec City, and in Contrecoeur. It also about the Port of Saguenay expansion, which I was very pleased to announce with the member's colleague from Chicoutimi—Le Fjord last Monday. That is what budget 2025 is all about: growing Quebec's economy and growing Canada's economy.

[Pierre Paul-Hus, Conservative, Charlesbourg—Haute-Saint-Charles, QC]

Mr. Speaker, the Liberals like to quote experts, but only when it suits them. The Fitch rating agency, which assigns the government's credit rating, recently said that the federal finances are a disaster, but the Liberals are refusing to listen to what the agency has to say. Meanwhile, in his report last week, the Parliamentary Budget Officer said that government spending is unsustainable and alarming.

How many more expert reports will it take for the Prime Minister to understand that he needs to stop his unsustainable spending?

[Joël Lightbound, Liberal, Minister of Government Transformation]

Mr. Speaker, let me be clear. Canada has an enviable fiscal situation. We have a AAA credit rating and the lowest debt-to-GDP and deficit-to-GDP ratios in the G7. What my colleague is about to vote against is a 20% salary increase for 6,000 soldiers at Valcartier, in Quebec City. We are reinvesting in our Canadian Armed Forces. I know this is important to my colleague.

How can he vote against that?

[Pierre Paul-Hus, Conservative, Charlesbourg—Haute-Saint-Charles, QC]

Mr. Speaker, we will always support what works, but what is not working is this government. For 10 years, we have been seeing that this government is not working. The Parliamentary Budget Officer, who conducted a transparent analysis, said that the chance of meeting the deficit targets is less than 10%. We know that this government is not working.

Furthermore, this government just posted an ad for a new parliamentary budget officer. Why? Is it because the truth hurts?

[David McGuinty, Liberal, Minister of National Defence]

Mr. Speaker, budget 2025 includes generational investments to rebuild, rearm and reinvest in the Canadian Armed Forces. This budget includes a historic $2 billion to boost pay for nearly 90,000 members of the Canadian Armed Forces and their families. Low-ranking sailors, soldiers and aviators received a 20% pay raise last Friday. I encourage all members to unite in supporting our armed forces and in building a strong Canada.

[Jean-Denis Garon, Bloc, Mirabel, QC]

Mr. Speaker, the Parliamentary Budget Officer has confirmed that the Liberal budget deficit is twice as large as projected because the government is disguising spending as investment. The Parliamentary Budget Officer said that "the Government’s definition of capital investments is overly expansive". He even suggests that this subjective definition be reviewed by independent experts. If Justin Trudeau had used this method, he would have balanced the budget every other year and would have practically been accused of austerity. In short, it is a sham.

Why are the Liberals hiding the real numbers from Quebeckers?

[François-Philippe Champagne, Liberal, Minister of Finance and National Revenue]

Mr. Speaker, I am pleased to see smiles on the faces of my Bloc Québécois colleagues, because there is a lot of good news in the November 4 budget. Bloc members are in the Magdalen Islands for the announcement about the airport. I hope they will be available for tonight's vote because I know the people of the Magdalen Islands. They watch television, and they will be watching tonight's vote. There is even more good news, such as the Port of Saguenay and the Contrecoeur expansion. There are many projects that will help Quebec grow, and we will also be investing in health care infrastructure. This is a budget that meets Quebeckers' expectations.

Will the Bloc Québécois do the right thing?

Government Appointments

[Jean-Denis Garon, Bloc, Mirabel, QC]

Mr. Speaker, the Parliamentary Budget Officer did not drink the Liberal generational Kool-Aid. There is no surprise there: His mandate is to conduct non-partisan analyses. That is exactly why the Liberals want to replace him. They posted a job listing for a permanent replacement with “tact and discretion”. They want a low-key parliamentary budget officer who apologizes before he speaks. A little more and they will ask him to get a Liberal Party membership card.

Will they take the same approach used for judges and recruit the next parliamentary budget officer through the “Liberalist”?

[Mélanie Joly, Liberal, Minister of Industry and Minister responsible for Canada Economic Development for Quebec Regions]

Mr. Speaker, I am going to pick up on what my colleague, the finance critic, said, because the reality is that things do not stop there. We have even more good investments on the way. My colleague opposite is from Mirabel, and he knows that aerospace is important. I hope he will be as passionate in defending the government's investments in aerospace as he has been here today. If he votes against the budget, he is voting against aerospace industry workers in Mirabel. He is also voting against the health care infrastructure that is so important to Quebeckers.

The Economy

[Raquel Dancho, Conservative, Kildonan—St. Paul, MB]

Mr. Speaker, the Prime Minister is claiming that his massive new deficit spending is an investment in the economy, but Canadians heard this promise for 10 years under Justin Trudeau, who doubled the national debt. As a result, productivity flatlined, investment collapsed and business competitiveness fell behind that of the U.S., which meant lower wages and fewer opportunities for our workers. Now Canadians are hearing that same failed promise from the Prime Minister, who would add $300 billion of new debt over the next few years.

Why is the Prime Minister repeating a decade of failed Liberal spending promises? What are workers going to get out of it? What is he promising them?

[John Zerucelli, Liberal, Secretary of State (Labour)]

Mr. Speaker, what we are promising is the largest infrastructure investment in Canadian history. This would create thousands of good jobs in the skilled trades, but do not take my word for it. Canadian Ironworkers said, “when Canada builds, Canadians work”. LiUNA Western Canada said this budget would create “thousands of great paying Union jobs right across Western Canada”. The International Union of Operating Engineers said this budget's nation-building project represents “an important opportunity for workers across Canada.” The Carpenters Regional Council said billions in infrastructure and housing investments have “the potential to create tens of thousands of good paying...jobs.”

Why would the Conservatives vote against it?

[Raquel Dancho, Conservative, Kildonan—St. Paul, MB]

Mr. Speaker, the Liberals keep insisting that more deficit spending will strengthen our economy, but the data says quite the opposite. Despite doubling the national debt and promising Canadians that it was an investment, after 10 years, Canada ranks well below average among the world's advanced economies in productivity, and business research and development investment. Again, that means lower wages for our workers.

Now the budget watchdog is warning that the budget abandons the fiscal anchors we need to protect our long-term sustainability. Why are the Liberals weakening our fiscal anchors when a decade of their reckless spending failed to deliver any results for our Canadian workers?

[Stephanie McLean, Liberal, Secretary of State (Seniors)]

Mr. Speaker, they say they are fighting for youth, but they plan to vote against a national school food program. They say they are fighting for families, but they plan to vote against a middle-income tax cut. They say they are fighting for workers, but they plan to vote against $75 million in apprenticeship funding. They say they are fighting for our borders, but they plan to vote against a much-needed pay raise for our service members in our armed forces, including in my riding of Esquimalt—Saanich—Sooke at CFB Esquimalt.

Canadians want to know who the Conservatives are fighting for, because it is certainly not them.

Finance

[Luc Berthold, Conservative, Mégantic—L’Érable—Lotbinière, QC]

Mr. Speaker, imagine what someone could buy if they were given a credit card with no limit and never had to pay it off at the end of the month. They could just pass the bill on to their children and grandchildren. That is exactly what the Liberal Prime Minister is doing. This is a red budget that will put generations of Canadians in the red. Credits cards like that do not exist, except for the Liberals.

Will the Liberals heed Fitch Ratings' warnings to the effect that federal finances are at high risk of deteriorating further with an unaffordable budget that will increase the cost of living for everyone?

[Joël Lightbound, Liberal, Minister of Government Transformation]

Mr. Speaker, let me set the record straight. The budget includes an average tax cut of $800 per middle-class family. It eliminates the GST on new homes for first-time buyers. There is an unprecedented pay increase for the men and women of the Canadian Armed Forces. They received the increase last Friday.

The budget includes investments to modernize infrastructure across our country, to increase the country's productivity and to grow the economy of Quebec and Canada.

[Luc Berthold, Conservative, Mégantic—L’Érable—Lotbinière, QC]

Mr. Speaker, what is in the budget is the biggest deficit we have ever had, outside of a pandemic. Fitch is not the only agency that is concerned about Canada's public finances. The Parliamentary Budget Officer has raised a number of concerns about the Liberals' broken promises. There is nothing to limit Liberal spending anymore. The Prime Minister has abandoned all of his fiscal anchors. The Parliamentary Budget Officer said that the anchor that we have had for 30 years was suddenly eliminated in this budget, without any discussion. It is no wonder the Prime Minister wants to get rid of him. He hates being told the truth.

How many more warnings will it take for this government to put an end to its irresponsible spending?

[Joël Lightbound, Liberal, Minister of Government Transformation]

Mr. Speaker, on the contrary, it would be irresponsible not to make the investments we are proposing in budget 2025 to stimulate growth in Canada, respond to a change in the global economic order and increase the sovereignty and resilience of the Canadian economy.

I urge my colleague to reconsider and support budget 2025.

[Dan Muys, Conservative, Flamborough—Glanbrook—Brant North, ON]

Mr. Speaker, the Prime Minister's costly credit card budget piles today's reckless spending on tomorrow's taxpayers, and the warnings keep getting louder.

Fitch, the government's own credit rater, says that the Liberals routinely blow through their fiscal anchors and that federal finances run a high risk of further deterioration. Now the budget watchdog is sounding the alarm, noting that the government has abandoned its debt-to-GDP anchor, which is the very metric the Liberals said was key to protecting the AAA rating. No wonder the Prime Minister wants to fire him.

How many more damning watchdog reports will it take for the Prime Minister to rein in spending?

[Wayne Long, Liberal, Secretary of State (Canada Revenue Agency and Financial Institutions)]

Mr. Speaker, on November 4 we introduced a historic budget to build Canada into the strongest economy in the G7 and to build an economy by Canadians for Canadians so we will never be reliant on one country again. We are making generational investments in infrastructure, in housing and in defence, and we will build our economy into the strongest economy in the G7.

The members opposite have a decision to make: Will they stand with us and support this budget, or will they force a Christmas election?

Climate Change

[Elizabeth May, Green, Saanich—Gulf Islands, BC]

Mr. Speaker, my question is for the Prime Minister.

Can the Prime Minister agree that it is a deficiency in the budget that our legally binding Paris commitments are not mentioned? Can he confirm here on the floor of the House that in passing this budget, the government is committed to holding to as far below the 2°C limit as possible, to funding climate adaptation, to delivering on the nature strategy and to continuing to engage in meaningful indigenous reconciliation?

[Mark Carney, Liberal, Prime Minister]

Mr. Speaker, I would like to thank—

[Some hon. members]

Oh, oh!

[The Speaker, Francis Scarpaleggia]

I will have to ask the Prime Minister to start from the top.