Mr. Speaker, I just said “Deloitte”. I think that is pretty reputable, as are Farm Credit Canada and the CEO of Food, Health & Consumer Products of Canada. The Liberals do not like to hear the numbers. They do not like to hear those stats because they are a direct result of punishing policies being implemented by the Liberal government.
However, my colleague across the way is going to love it, because the Liberals are not done yet. The Liberal government wants to reduce fertilizer use by 30% and crop protection products by 50%. These losses would lead to losses for farmers exceeding $50 billion and to a reduction of crop yields by 14 million tonnes.
Last, the impact of the Liberals' inflationary spending and regulations is taking a toll on the economic viability of Canadian farmers. I know that my colleague from Winnipeg North is going to hate this, but it comes from Statistics Canada and Farm Credit Canada: Last year was the most expensive crop in Canadian history. The results that just came out show that in 2024, Canadian farmers experienced a 25% decline in realized net income, a total loss of $3.3 billion. Farmers are losing about $3,000 every single month. This is the worst loss in realized net income since 2018.
In 2024, total farm operating expenses in Canada increased to $78.3 billion, a 2.4% increase from the previous year. These increases are coming from fertilizer, feed and machinery. Fertilizer prices soared by more than 50%. Feed costs are up 20%. Machinery expenses and fuel are up by 53%. I cannot stress this enough. These are very real consequences of ideological and punishing policies by the Liberal government that are putting the economic viability of our farmers at risk and driving up food costs for Canadians. Every single month we are seeing this.
I have to ask whether the discussion in Alberta next week at the G7 will be whether Canada actually belongs in the G7, when we are a partner that is punishing our farmers and putting food security, not only here at home but also globally, at risk. We are ignoring our most important allies, who have come to us wanting cheap, affordable and sustainable Canadian LNG, but the Liberal government has said there is no business case. We are eroding our reputation as a trusted partner to our G7 allies.
However, a lot of these things could be resolved if the Liberal government repealed its ideological policies and tabled a budget so Canadians can actually see the financial picture they are facing. If the government is not willing to do it, I suggest it steps aside, because the Conservatives are ready to do just that.