Debates of Oct. 30th, 2026

The Economy

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

Mr. Speaker, my Liberal colleague does not seem to know what is actually happening on the ground.

Can I tell him one thing that people have no control over, that families have no control over? The cost of groceries. When they get to the cash register, they have no control over how much things will cost. They have to pay whatever it costs. Inflation has just gone up. The Bank of Canada is saying that it is going to be even higher next year, and families are the ones paying the price. While the Liberals are talking about the big things they are doing across the country, Canadians are the ones paying the price.

I have a question. Next week, will the Prime Minister present a budget that will inflate spending or one that will save Canadians money?

[Daniel Gobeil, Liberal, Parliamentary Secretary to the Minister of Agriculture and Agri-Food]

Mr. Speaker, I thank my colleague for his question.

I do not know where he has been these last few months when our government was making decisions to make life more affordable for Canadians. The Canada groceries and essentials benefit, tax breaks on fuel and diesel and the Canadian dental care plan are all measures that help Canadians and Quebeckers every day.

That is just the beginning. The upcoming budget will continue to focus on affordability.

Finance

[Philip Lawrence, Conservative, Northumberland—Clarke, ON]

Mr. Speaker, the Bank of Canada raised its interest rates for the first time since 2023. The government is claiming that inflation and interest rates are like the weather and are completely beyond its control, but we know that is not the truth. We know that sovereign debt accelerates inflation.

Canada now spends more on interest than it does on health care or on the military. The interest rate hike means that millions of Canadians will be forced to the financial brink.

Will the government commit to achieving its own fiscal anchor of a declining deficit-to-GDP ratio?

[Ryan Turnbull, Liberal, Parliamentary Secretary to the Minister of Finance and National Revenue and to the Secretary of State (Canada Revenue Agency and Financial Institutions)]

Mr. Speaker, Conservatives this Halloween are handing out tricks and calling them treats. Nobody is fooled by this.

Let me ask the members opposite to tell us how feeding hungry kids is inflationary, tell us how investing in our defence capabilities is inflationary and tell us how cutting taxes on income, housing and fuel is inflationary. Maybe they need a basic economics tutorial over in the Conservative caucus. It is clear that their leader has no economic credentials. If they need a lesson, please let us know.

[Philip Lawrence, Conservative, Northumberland—Clarke, ON]

Mr. Speaker, the Governor of the Bank of Canada was quite clear: He has raised interest rates because of increasing inflationary pressure. All experts agree that expansive fiscal policy accelerates inflation. In effect, the Governor of the Bank of Canada is hitting the brakes hard while the Minister of Finance continues to accelerate faster and faster.

Will the minister commit to some fiscal restraint in the upcoming budget so that Canadians are not pushed over the inflationary cliff?

[Ryan Turnbull, Liberal, Parliamentary Secretary to the Minister of Finance and National Revenue and to the Secretary of State (Canada Revenue Agency and Financial Institutions)]

Mr. Speaker, it is not news to us that the country is facing headwinds and that Canadians are being impacted. That is exactly why we stepped up with a plan to support them.

We introduced the groceries and essentials benefit, and it delivered 12 million Canadians a cheque to help with the cost of living. We cut taxes on new business investment and saw an immediate spike of 8.9% in activity. We rapidly signed 20 new trade and security agreements, and we saw the highest level of non-U.S. trade this last summer. We streamlined permitting processes, and we have seen more jobs and shovels in the ground. Those are the results of this government.

Pensions

[Sandra Cobena, Conservative, Newmarket—Aurora, ON]

Mr. Speaker, there is something very dangerous about how the Prime Minister is defending the outrageous amount of debt he has taken on. He says that it is not so bad because of Canada's net debt position, but what he does not tell Canadians is that that calculation subtracts over $1 trillion of Canadians' pension assets.

I have a very simple question for the Prime Minister: Does he intend to use Canadians' pensions to pay his Liberal debt, yes or no?

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

Mr. Speaker, that is not true. Do members want to know what is dangerous? What is dangerous is the Conservative Party leader's advice to Canadians about how to manage inflation. What did he say to Canadians? He said they can opt out of inflation by buying Bitcoin. After they bought Bitcoin, Bitcoin divided by half its value.

Then the Conservatives voted against every affordability measure that this government has put forth, like child care, dental care and the groceries and essentials benefit. They voted against them. They claim they are for affordability, but they are not.

[Sandra Cobena, Conservative, Newmarket—Aurora, ON]

Mr. Speaker, if the Prime Minister has no intention of touching Canadians' pension funds, then why does his government use those very same pension assets to make Canada's debt look smaller? He cannot have it both ways. Either he intends to use the pensions to repay his debt, or those savings are not available to repay it.

Why is he using Canadians' retirement savings to assure Canadians about the national debt? When will the Prime Minister stop hiding behind pensions and tell them how he intends to repay the debt?

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

Mr. Speaker, is the Conservative Party's official position on inflation to buy Bitcoin, yes or no?

Canada has the best fiscal position in the G7. We have a AAA credit rating. What does that allow us to do? That allows us to invest in this country. It allows us to build projects in the national interest using Canadian lumber, Canadian steel and Canadian unionized workers.

We are going to continue to build this country. I hope the Conservatives get on board.

Parks Canada

[Yves Perron, Bloc, Berthier—Maskinongé, QC]

Mr. Speaker, we stand in solidarity with Parks Canada workers. According to the union, it is no longer 500 positions, as the government claimed last week, but 742 positions that will be cut. These are good regional jobs, including in La Mauricie National Park. All of this is being done to save $145 million, even as the Prime Minister gave away $150 million in free park passes for his Canada strong agenda since taking office.

Does his idea of a strong Canada involve firing over 700 people to cover his own spending?

[Yasir Naqvi, Liberal, Parliamentary Secretary to the Minister of International Trade and to the Secretary of State (International Development)]

Mr. Speaker, we thank our federal public servants for their dedication, and we deeply appreciate the critical role they play in ensuring our safety and protecting Canadians and our environment.

We must continue to protect nature and the environment while strengthening Canada's emergency preparedness. While we are streamlining expenditures, those priorities will not be compromised. All the changes we are making are aimed at strengthening the system that Canadians rely on.

[Alexis Deschênes, Bloc, Gaspésie—Les Îles-de-la-Madeleine—Listuguj, QC]

Mr. Speaker, staff cuts at Parks Canada are an insult to the history of the Gaspé Peninsula: Ninety-five full-time workers are facing possible layoffs in Forillon and Restigouche. These parks are vital to our tourism industry. The insult is all the more egregious considering that 225 Forillon families were expropriated to create the park, causing wounds that have yet to heal. Imagine, Liberals expropriated these people only for other Liberals to come along and cut jobs and services.

Is the government going to reverse this reprehensible decision?

[Yasir Naqvi, Liberal, Parliamentary Secretary to the Minister of International Trade and to the Secretary of State (International Development)]

Mr. Speaker, Parks Canada is currently modernizing its programs and services to ensure their long-term sustainability and provide the best value to Canadians.

This transition period will result in adjustments. Parks Canada will continue to deliver on its mandate for conservation, visitor services and the protection of sites under its care. Parks Canada will continue to work with its partners, including those in the Gaspé, to advance initiatives that are important to the region, particularly the project—

[The Assistant Deputy Speaker, John Nater]

The hon. member for Côte-Nord—Kawawachikamach—Nitassinan.

[Marilène Gill, Bloc, Côte-Nord—Kawawachikamach—Nitassinan, QC]

Mr. Speaker, the job cuts at Parks Canada will transform our protected areas. Imagine no longer having park wardens in the Mingan Archipelago. The closest ones will be 650 kilometres away. No one will be there to protect nature or stop poaching. Our hearts go out to the workers who are devastated by this news. They deserve transparency and time, not the Prime Minister's bulldozer. The government needs to stop taking this penny-wise and pound-foolish approach, just to save a few bucks on the backs of these folks.

Will he stop this injustice?

[Yasir Naqvi, Liberal, Parliamentary Secretary to the Minister of International Trade and to the Secretary of State (International Development)]

Mr. Speaker, Parks Canada is going through a process of modernization. We are making sure that the services provided by Parks Canada are available for all Canadians. That is why we will continue to make sure that Parks Canada remains viable.

It is an important part of our institution. It is something that, all across the country, we get to enjoy. We will make sure that Parks Canada remains a source of pride for all Canadians.

International Trade

[Stephanie Kusie, Conservative, Calgary Midnapore, AB]

Mr. Speaker, Canada's trade agreement with the EU was signed 10 years ago by the Conservatives, yet under this Liberal government, nine nations have to be ratified into the agreement, and that includes both France and Poland, two nations the Prime Minister has engaged with heavily.

Why is the Prime Minister so fixated upon associate membership when he should be focusing on getting the other nine nations to ratify the agreement so we can get our Canadian beef and pork to the European market?

[Yasir Naqvi, Liberal, Parliamentary Secretary to the Minister of International Trade and to the Secretary of State (International Development)]

Mr. Speaker, I want to thank the member opposite for this very important question, because in the last 10 years since we signed the free trade agreement with Europe, the trade between our two economies has grown by 75%. In fact, trade with France has gone up 63%, trade with Italy is up 77%, and trade with Poland is up 110%. Imagine what more we can do when we have a deeper alliance with Europe, which the Prime Minister is working on as we speak.

[Stephanie Kusie, Conservative, Calgary Midnapore, AB]

Mr. Speaker, the Liberal government is failing on trade. It has been reported that Canada will face a carbon tariff next year from the European Union, which will affect up to three billion dollars' worth of Canadian exports, yet the Prime Minister is fixated on this associate membership, trying to distract Canadians from the pain he has caused them.

When the summit concludes today with the EU, will the Prime Minister announce that he has fixed the potential carbon tariff, or will he announce that he is going to raise the Liberal industrial carbon tax to compensate for the new European Union tariff?

[Yasir Naqvi, Liberal, Parliamentary Secretary to the Minister of International Trade and to the Secretary of State (International Development)]

Mr. Speaker, what we are focused on is making sure that we diversify trade for all Canadians and that we create opportunities for Canadian companies to be able to do business all around the world. The European Union is the second-largest economy in the world, and having a deeper, closer relationship with the European Union is going to mean more business for Canadian businesses and more jobs for Canadians. That is our focus. We will continue to build those relationships so that we can create good opportunities for Canadian businesses and for Canadian workers.

Finance

[Kelly McCauley, Conservative, Edmonton West, AB]

Mr. Speaker, in September 2025, the Prime Minister stood in the House and stated, “We are going to have a declining level of debt”, yet the Parliamentary Budget Officer is projecting debt to climb from $1.5 trillion to $2.3 trillion over the next four years.

Would the Prime Minister like to explain how debt going from $1.5 trillion to $2.3 trillion is, in his own words, a declining level of debt, or is he using the same math that he used to conclude that affordability is the best it has been in a decade?

[Ryan Turnbull, Liberal, Parliamentary Secretary to the Minister of Finance and National Revenue and to the Secretary of State (Canada Revenue Agency and Financial Institutions)]

Mr. Speaker, this Halloween, Conservatives are doing their very best to try to spook Canadians, but Canadians know that Canada has the strongest fiscal position in the G7. We have a stable democracy and a government that cares about them, a government that is investing in them, is supporting them through affordability challenges, is investing in a stronger economy, is diversifying trade and is laser focused on building the strongest, most resilient economy in the G7.

All this member can do is cast doubt on that plan. Every moment of every day in the House, that is all we hear from the Conservatives. When will they start celebrating all that Canada has to offer?

[Kelly McCauley, Conservative, Edmonton West, AB]

Mr. Speaker, also casting doubt on their plan is the Bank of Canada. The Bank of Canada's monetary policy report states that there is slack in the labour market. It states that businesses have excess capacity. Normally, this would lead to lower interest rates, yet the Bank of Canada increased interest rates due to persistent inflation.

The Prime Minister says the Liberals will focus on what they can control. Will the Prime Minister focus on what he can control, his inflationary spending binge, and do what he promised and deliver a declining level of debt?

[Ryan Turnbull, Liberal, Parliamentary Secretary to the Minister of Finance and National Revenue and to the Secretary of State (Canada Revenue Agency and Financial Institutions)]

Mr. Speaker, the Conservatives are always short on details. They keep saying that somehow government spending and investments in the Canadian economy are inflationary, but they never indicate what specifically is inflationary about that spending. Is it inflationary to feed hungry children? Is it inflationary to cut taxes for 22 million Canadians on their income? Is it inflationary to help with the cost of fuel? Is it inflationary to invest in our defence or get major projects built in this country? What is inflationary about those investments in a growing, prosperous Canadian economy?