Debates of Nov. 18th, 2025

Finance

[Dominique Vien, Conservative, Bellechasse—Les Etchemins—Lévis, QC]

Mr. Speaker, is the minister telling us that Fitch and the Parliamentary Budget Officer are liars? In fact, the Liberals want to fire the Parliamentary Budget Officer. In his recent report, he confirmed that the government has abandoned the fiscal anchor to reduce the debt. He warned that this poses a direct threat to Canada's credit rating and investor confidence.

I have a straightforward question. How many more alarming reports from the Parliamentary Budget Officer will it take for the Prime Minister to end this financial mess?

[Joël Lightbound, Liberal, Minister of Government Transformation]

Mr. Speaker, it is important to note that Canada has the best fiscal position in the G7, with the lowest debt-to-GDP ratio among G7 countries. The situation we are currently facing, given the changing world economic order, requires us to be ambitious and serious for the country's future. That is exactly what budget 2025 does, with investments in infrastructure and defence. It is aiming for greater affordability with a tax cut for the middle class, and it is investing in productivity and innovation.

That is budget 2025.

[Billy Morin, Conservative, Edmonton Northwest, AB]

Mr. Speaker, after 10 years of Liberal deficits, Canadians are having to put nearly 50% more of their expenses on credit cards. Fitch Ratings, the agency that gives the Liberal government its credit score, says that the Liberal government frequently blows through fiscal anchors. On top of this, the Parliamentary Budget Officer is also ringing the alarm bells: “With Budget 2025 the Government abandoned the previous fiscal anchor to reduce the federal debt-to-GDP ratio over the medium term.”

How many more fiscal watchdog reports is it going to take for the Prime Minister to rein in his costly credit card spending?

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

Mr. Speaker, let us look at some facts. I know the party opposite does not really like to talk about facts. We have the best credit rating in the world and the lowest net debt-to-GDP in the G7. The IMF has projected Canada to have one of the fastest-growing economies in the G7. We are laser-focused on building the strongest economy in the G7.

The party opposite talks slogans, rhetoric and outdated slogans, but we are focused on building the strongest economy. We will deliver for Canadians because that is what Canadians expect from a serious government.

Forestry Industry

[Mario Simard, Bloc, Jonquière, QC]

Mr. Speaker, here is the proof that this budget fails to meet the needs of Quebeckers. Yesterday, the same day that the budget was passed, the Arbec forestry company laid off nearly 100 workers in Amos.

However, just three weeks ago industry representatives, including representatives from Arbec, were in Ottawa pleading for support. They were asking the federal government to advance them 50% of all future countervailing and anti-dumping duties payable. They also asked for a wage subsidy so that they would not have to lay off workers.

There was nothing for them in the budget and what happened? One hundred workers are losing their livelihoods. What is the government waiting for? When will it take action?

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

Mr. Speaker, we will always be there for forestry workers. We have a fund specifically designed to help businesses.

Yesterday, in a dramatic turn of events, the Bloc Québécois voted against projects in Quebec. The Bloc Québécois voted against the Port of Saguenay expansion, against the Port of Montreal expansion and against Exploramer and its shark pavilion. The Bloc Québécois is opposed to the shark pavilion, Espace Hubert-Reeves, the Forillon shipyard and the Montreal North sports centre.

Today, Quebeckers are dumbfounded. Where was the Bloc Québécois yesterday?

[Sébastien Lemire, Bloc, Abitibi—Témiscamingue, QC]

Mr. Speaker, our hearts go out to the 100 or so workers at Arbec, in Amos, who have been laid off.

The company had no choice, because Ottawa ignored the needs that the industry and the Bloc Québécois have been hammering home for weeks. We need a wage subsidy, specifically in order to avoid layoffs like these.

For the industry in general, the federal government must offer 50% of the Americans' countervailing and anti-dumping duties. The Liberals did nothing in the budget, and 100 families in my riding are finding out that they will be struggling to make ends meet this holiday season.

Now, what is the government going to do for them?

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

Mr. Speaker, members of the Bloc Québécois are a little late to this situation. They must have been busy yesterday voting against the budget and against projects in Quebec. Still, I have some news for them.

We are already in contact with Arbec. We are already negotiating a line of credit. We are prepared to support them, to help them pivot.

Instead of focusing on voting against projects in Quebec, the members of the Bloc Québécois should look at how they can support the government so we can move our country forward together.

Finance

[Rob Moore, Conservative, Fundy Royal, NB]

Mr. Speaker, the Prime Minister's costly credit card budget puts today's reckless spending onto tomorrow's taxpayers.

After 10 years of the Liberals, Canadians are having to put nearly 50% more of their expenses on their credit cards. Fitch Ratings says, “federal finances run a high risk of further deterioration” since the government frequently blows through its fiscal anchors.

How many more fiscal watchdog reports is it going to take for the Prime Minister to rein in his costly credit card spending?

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

Mr. Speaker, as a proud member from southern New Brunswick like the member opposite, I believe in the budget we passed last night. The budget has transformational, generational investments in defence and infrastructure. There is a $5-billion trade corridors fund, which will mean an amazing amount of dollars for Port Saint John and the port of Belledune.

On this side of the House, we listen to Canadians, we believe in our budget and we know our budget will transform Canada. It is too bad the members opposite did not support us last night. I know Canadians stand with us. We will—

[The Speaker, Francis Scarpaleggia]

The hon. member for Fundy Royal.

[Rob Moore, Conservative, Fundy Royal, NB]

Mr. Speaker, the member knows that his constituents and mine are struggling to make ends meet, and it is the government's reckless spending that is making matters worse.

Not only is Fitch Ratings warning that Canada's economic position is at risk of getting worse, but thanks to the Liberals' disregard for sticking to their own fiscal anchors, the Parliamentary Budget Officer is also warning that this deterioration is already taking place, and Canadians are the ones paying the price. It is no wonder the Prime Minister wants to fire the Parliamentary Budget Officer, because he is actually telling Canadians the truth and the truth hurts.

I will ask this again: How many more fiscal—

[The Speaker, Francis Scarpaleggia]

The hon. government House leader.

[Steven MacKinnon, Liberal, Minister of Transport and Leader of the Government in the House of Commons]

Mr. Speaker, the member is an experienced member, so experienced, in fact, that he was here for the 10-year river of Harper red ink, with the biggest budget deficits on record in the history of the country. It is funny; he was not talking about that then. What he has done is vote against a budget that creates opportunity right throughout Atlantic Canada and right throughout the province of New Brunswick and that creates opportunity for young people in New Brunswick in energy and infrastructure.

We are going to keep building this country despite the member, his history of red ink and his negativism.

[Bernard Généreux, Conservative, Côte-du-Sud—Rivière-du-Loup—Kataskomiq—Témiscouata, QC]

Mr. Speaker, the Prime Minister's deficit budget passes the bill on to current and future taxpayers. Meanwhile, Canadians are being forced to put almost 50% more of their expenses on their credit cards.

The Fitch credit rating agency has warned that federal finances run a high risk of further deterioration. The Parliamentary Budget Officer says that borrowing costs are going to rise.

How many more reports from financial watchdogs will it take for the Prime Minister to stop this irresponsible spending?

[Anna Gainey, Liberal, Secretary of State (Children and Youth)]

Mr. Speaker, on this side of the House, we are investing to build strong families and communities. The budget investments will create good jobs and careers for young people. It will protect the supports that help families get ahead.

Our new government is delivering a budget that will build, protect and strengthen Canada. I encourage the members opposite to vote for the budget this afternoon.

[John Williamson, Conservative, Saint John—St. Croix, NB]

Mr. Speaker, after 10 years of Liberal mismanagement, Canadian families are putting 50% more of their household bills on credit cards than they did just 10 short years ago because of Liberal inflationary spending.

Fitch Ratings warns that government overspending puts finances at “high risk of further deterioration”. The budget watchdog warns that the Liberals have abandoned their own debt-to-GDP anchor, which is key to preserving Canada's AAA credit rating. It is no wonder this costly Prime Minister is trying to fire anyone who can use a calculator in this place.

When will the Prime Minister stop maxing out Canada's credit card and get back to basics?

[Dominic LeBlanc, Liberal, President of the King’s Privy Council for Canada and Minister responsible for Canada-U.S. Trade]

Mr. Speaker, like his colleague from Fundy Royal, the member would remember very well the time he served in Prime Minister Harper's office. They were overrun with credit card spending and government cutbacks. The Conservatives pretend to be interested in things now, like the fight against crime, but they were cutting CBSA officers and underfunding the RCMP. What did they do yesterday? They voted against investments in his province, in my province of New Brunswick and in infrastructure that will build the strongest economy.

We have no lessons to take, as the finance minister said, from the member.

[Cathay Wagantall, Conservative, Yorkton—Melville, SK]

Mr. Speaker, the Prime Minister's costly credit card budget loads today's reckless spending on tomorrow's taxpayers, while Canadians are having to put nearly 50% more of their expenses on their credit cards, fearing the potential loss of their homes and businesses and facing the threat of bankruptcy. If only the government was concerned.

The warnings from Fitch and the parliamentary fiscal watchdog are ringing alarm bells. Abandoning one fiscal anchor and replacing it with another is already failing to build investor confidence in Canada.

How many more fiscal watchdog reports will it take for the Prime Minister to rein in his costly credit card spending?

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

Mr. Speaker, yesterday in this House, the Conservative Party voted against budget 2025—

[Some hon. members]

Oh, oh!

[The Speaker, Francis Scarpaleggia]

Not from the top, but the member can continue.

[Stephanie McLean, Liberal, Esquimalt—Saanich—Sooke, BC]

Mr. Speaker, the Conservatives voted against food in schools for children. They voted against an income tax cut for the middle class. They voted against $75 million in apprenticeship training. They voted against a refundable credit for personal support workers. They voted against $45 million to address violence against women, and they voted against crucial support for seniors, like old age security.

Canadians want to know who—

[The Speaker, Francis Scarpaleggia]

The hon. member for Sudbury.

Natural Resources

[Viviane LaPointe, Liberal, Sudbury, ON]

Mr. Speaker, northern Ontario has a proud mining legacy. We are known across the globe as a mining powerhouse, and we are ready to lead in the clean economy.

The Minister of Energy and Natural Resources visited our region last week, where he saw first-hand the real opportunities that northern Ontario offers to our government's plan to grow our economy. Having major projects from northern Ontario included on the list sends a clear signal that northern Ontario is at the centre of Canada's critical mineral future.

Can the minister tell us what this means for the workers and local communities of our region?