Mr. Speaker, I am pleased to share my time with my dear colleague from Prince George—Peace River—Northern Rockies.
It is always very interesting and very important to rise in the House, especially during the budget debate, because as we know, the tabling of the budget is a crucial moment in the history of any parliament.
I have received a lot of comments and talked a lot with people in Bellechasse—Les Etchemins—Lévis. I will not be telling members anything new when I say that my constituents are extremely worried. They have concerns, and they are also disappointed by what the Liberal government has presented. The only new thing about this government is the name of the Prime Minister. Everyone can see that it is the same government using the same approach, with the same people who were there under Mr. Trudeau.
The dynamic is still the same as it was during the past 10 years of out-of-control spending and not being able to table a balanced budget. Quite frankly, given the context and the situation Canada is in right now, the Conservative members were keeping an open mind and were paying very close attention. We were also worried about the current geopolitical situation, and we still are. We were eager to see what the current government was going to table.
All I can say is that what was tabled is totally contradictory and incompatible with the Conservatives' DNA, which is why we could not support this budget. I personally find it troubling that the members opposite did not rely on the wisdom of the member for Marc-Aurèle-Fortin, currently the parliamentary secretary to the Minister of Industry. He is one of my former colleagues from when I was in the Quebec cabinet. He once said that a balanced budget is a way to establish the government's credibility and financial stability.
Perhaps he should have been the one preparing the budget that was just tabled in the House. As members will recall, this budget was 18 months overdue. Canada was flying blind because it did not have a budget. The Liberals have used big adjectives to describe this budget, including the word “generational”. I would say that the only generational thing about this budget is the debt it places on our children's shoulders.
I want to talk about the deficit. The member for Winnipeg North said that the Liberals did what they said they would do. That is false. That is completely false. They said the deficit would be $40 billion. That was under the former finance minister, Ms. Freeland.
During the election campaign, they announced that the deficit would be $62 billion. Even that was unacceptable to us. Now they have tabled a budget with a $78‑billion deficit. That is an extra $16 billion. Can someone explain to me how we got to this point? That is not all. They are tabling a budget with $90 billion in new spending. Does anyone know how much that represents per family? That is an additional $5,400 per household.
This government's reflex to constantly spend money it does not have is detestable. In contrast, we Conservatives always remember where the government's money comes from. It comes from taxpayers' pockets.
If Mr. Trudeau's Liberals had not spent money like it grows on trees, we would have money right now, money that could be allocated to national defence to keep our country safe. A member asked a question earlier: Is it possible to spend more than Mr. Trudeau's government did? We never thought we would be able answer yes, but it is possible and it is happening now.
Now let us talk about the debt. Those of us on this side of the House are very concerned about the debt, as are our constituents. We hear a lot about it in our ridings. Under the Liberals, the debt has more than doubled. It went from $687 billion to $1.35 trillion. I do not even know how many zeroes that is. It is a very big number; it is huge. That is our current debt.
Debt servicing is a simple concept. It is the interest we pay on money we borrow. We certainly are borrowing a lot these days, because Canada is spending like there is no tomorrow. Debt servicing costs $50 billion. Believe it or not, that is more than the provincial health transfers.
Earlier on, the member for Winnipeg North was yelling about health care services and infrastructure. He said that his government was going to make investments. The $60 billion that will be spent on servicing the debt in 2026-27, which is just a few weeks away, is money that will not be spent on health care. It is money that will not be spent on services for Canadians. It is $60 billion flung out the window. That is more money than the provinces receive in health transfers. It is more than all of us combined pay in GST.
Every time we go to the pharmacy or buy a pair of winter boots, we pay GST. Every dollar of that is going toward paying down the debt. From the moment they let out their first cry, every newborn owes $30,000 in debt servicing charges. That is today's reality; it is as simple as that. The Liberals are the ones who got us into this mess. They spent money they did not have. For 10 years, they spent like there was no tomorrow.
One would have thought that the member for Marc-Aurèle-Fortin, who is a conscientious Liberal member, could have influenced the Minister of Finance and National Revenue. They did not listen to common sense. They did not listen to the people. That is how they operate. Today, we are left without one penny to defend our borders. On top of that, they have to borrow on the markets at exorbitant rates.
Despite the criticism, the Liberals have convinced themselves that everything is fine, that life is beautiful, and that everyone is in a good mood. That is not true. The criticism against them is unanimous, whether it comes from the English-language press or the French-language press, from Fitch Ratings or the Parliamentary Budget Officer. Is there anyone in this country more credible than that? Fitch Ratings in New York said that Canada's financial situation is poor, that the overspending is too high, and that it is not certain if it can maintain the current rating. The Liberal member spoke earlier about the AAA rating. Honestly, that is laughable; it is impossible. That is not coming from me; it is coming from the rating agencies. The Parliamentary Budget Officer told the truth so much that they started writing a job posting to replace him, because he is not on their side. Is that true or false?
We on this side of the House are disappointed. We are the voices of our communities. The Conservatives are not the only ones on our side. There are also people who think critically and who are able to provide important and credible analysis. These people are telling us that this makes no sense. That is why we did not vote in favour of this budget.