Debates of May 1st, 2026

Finance

[Carlos Leitão, Liberal, Parliamentary Secretary to the Minister of Industry]

Madam Speaker, I am proud to be part of a government that is investing heavily in our families. We have social programs. We have programs that our American neighbours do not have. We are proud to be able to preserve, maintain and build upon these programs. That is what sets Canada apart. It is what makes Canada Canada. We support one another. It is not every person for themselves. It is not survival of the fittest. We know that by working together, we will go further.

The Economy

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

Madam Speaker, how can a G7 country brag when families are cutting back on groceries and skipping meals just to make ends meet?

The Dalhousie University report states in no uncertain terms that Canadians are buying what they can afford, not what they need to eat. It is always the same old story with the Liberals, the same old tune on repeat. They pull out the credit card and spend without a second thought, and the bill always ends up on Canadians' plates.

How are the Liberals going to make life more affordable for Canadians?

[Caroline Desrochers, Liberal, Parliamentary Secretary to the Minister of Housing and Infrastructure]

Madam Speaker, the Conservatives have always been very clear about their austerity agenda, but we are still waiting to find out which projects they intend to cut and in which communities.

Would you make cuts in your constituency, which I visited a few weeks ago for the opening of affordable housing projects for seniors and students? Would you cut the infrastructure agreement with the Government of Quebec, involving an investment of nearly $1 billion? Would you cut the 865 units we announced with Quebec three weeks ago for affordable housing, transitional housing and vulnerable people?

What are you going to cut? Please, tell us.

[Alexandra Mendes, Liberal, The Assistant Deputy Speaker]

The hon. parliamentary secretary knows that I am not going to do anything.

The hon. member for Côte-du-Sud—Rivière-du-Loup—Kataskomiq—Témiscouata.

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

Madam Speaker, with all due respect to my colleague, she is taking us for fools. I hope I do not look like a puppet. Canadians are not stupid. Everything the Liberals are doing is going on the credit card.

The reality on the ground is clear. Groceries are getting more and more expensive, household debt is rising and food banks across the country are overwhelmed.

How can the Liberal government claim that everything is fine when more and more people are having to cut back on food and turn to food banks to put food on the table?

[Sophie Chatel, Liberal, Parliamentary Secretary to the Minister of Agriculture and Agri-Food]

Madam Speaker, as we know, economic turmoil is making life more expensive for Canadians and Quebeckers.

In the economic update, we are investing to develop a very important manufacturing sector in Canada. I am talking about the agri-food system. Following the superdeductions we announced in the last budget, we are now announcing a strategic Canada Strong fund that will allow us to invest in our agri-food system to produce more goods here in Canada and lower grocery prices.

That is what building Canada is about.

Industry

[Harb Gill, Conservative, Windsor West, ON]

Madam Speaker, Windsor workers and manufacturers are already feeling the pressure from the section 232 tariffs, and 150,000 Windsor families are worried about what comes next. They think that the Prime Minister is just another costly Liberal. He has doubled Justin Trudeau's deficit, while Canadians continue to face an affordability crisis alone. If the Prime Minister likes to gamble, he can come visit a casino in Windsor but leave the Canadians' credit card at home.

There is no targeted relief and no meaningful support for the workers and businesses that carry this country—

[The Assistant Deputy Speaker (Alexandra Mendès), Alexandra Mendes]

The hon. Parliamentary Secretary to the Minister of Industry.

[Karim Bardeesy, Liberal, Parliamentary Secretary to the Minister of Industry]

Madam Speaker, when the Conservative Party was in power in the 1990s, Canada was a fiscal basket case, with a debt-to-revenue ratio of over 30%.

By contrast, we have the lowest debt-to-GDP ratio in the G7. We have the second-best growth rate in the G7. We are responding, but when it comes to tariffs, we know that a bad deal is worse than no deal, and that manufacturing needs some help.

The Prime Minister and the Minister of Industry have been very clear that help is on the way.

The Economy

[Dominique O'Rourke, Liberal, Guelph, ON]

Madam Speaker, economic growth is truly transformational only when everyone has the chance to participate in and benefit from it.

The spring economic update will empower workers through the historic team Canada strong program, Canada's largest-ever investment in workers, by making education more affordable and by advancing the labour mobility deduction. Our government has also made permanent the employee ownership trust tax exemption. The former MP for Guelph, Lloyd Longfield, and I are huge advocates.

Can the Parliamentary Secretary to the Minister of Finance please explain how this strengthens the economy for all?

[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)]

Madam Speaker, I want to thank the member for her advocacy.

Making the employee ownership trust tax exemption permanent will help more workers share in the success of the businesses they help build. This change allows employers long-term certainty when succession planning, and it allows employees the opportunity to access wealth-building opportunities through collective ownership.

We will continue to build a stronger economy and protect our sovereignty. Making this tax exemption permanent will allow more workers to directly participate in the strength and prosperity that we are building across Canada.

Finance

[Shannon Stubbs, Conservative, Lakeland, AB]

Madam Speaker, the Liberals' costly credit card budget plans a deficit of over $65 billion. That is more debt, more costs, more spending and more of the same.

I would say that the Prime Minister is just like the last one, but he is twice as bad. He doubled Trudeau's deficit. The debt costs each Canadian $33,000 a year. Who can afford it? Debt interest charges alone are over $55 billion, more than transfers for health care to all the provinces combined.

While young Canadians face a jobs crisis and food bank use skyrockets, how can the PM tell Canadians they should foot his costly credit card bill?

[Sean Fraser, Liberal, Minister of Justice and Attorney General of Canada and Minister responsible for the Atlantic Canada Opportunities Agency]

Madam Speaker, my hon. colleague knows well that we have a smaller-than-projected deficit because we are managing the nation's fiscal capacity with responsibility. We have the lowest debt-to-GDP ratio in the G7. The member will know that we have the second-fastest growing economy in the G7.

The path ahead for Canada, despite the challenges we face, is bright. We are launching major projects and investing in the skilled trades to add 100,000 new workers to the economy. We are making massive investments in the Canadian Armed Forces in the defence industrial strategy, which is going to create jobs in every part of this country.

We need to invest in Canada and invest in Canadians to grow this economy.

[Shannon Stubbs, Conservative, Lakeland, AB]

Madam Speaker, here is the Liberal record: spending up, food inflation up, debt up and photo ops way up, but investments down, no trade deal with the U.S., and zero Major Projects Office approvals.

The Liberals landlocked Canada with costly red tape and shifting rules. That is why Canada now has the most unaffordable housing and the lowest investment in the G7. Canada is rich in natural and human resources. No business should be driven out. No family on fixed income should choose between heating and eating.

Why will the PM double Trudeau's deficit, double down on costly credit card budgets and force Canadians to pay more for gas, groceries and homes?

[Sean Fraser, Liberal, Minister of Justice and Attorney General of Canada and Minister responsible for the Atlantic Canada Opportunities Agency]

Madam Speaker, Oscar Wilde once described a “cynic” as someone who knows the cost of everything but the value of nothing. Do the Conservatives not see the value in investing in making sure families have money to support the cost of living through the Canada child benefit and the groceries and essentials benefit? Do they not see value in investing in the national school food program? Do they not see value in advancing major projects to put people to work in this country, and do they not see value in giving a raise to the men and women who serve in the Canadian Armed Forces?

We are building an economy that can stand on its own two feet, diversifying our trading relationships and using our fiscal capacities to support people in need. If that makes me just another Liberal, I am damn proud to be one.

[Jonathan Rowe, Conservative, Terra Nova—The Peninsulas, NL]

Madam Speaker, there is nothing worse than going to the post office and looking forward to a friendly letter but getting nothing but a dreaded credit card bill. That is exactly how the federal budget went. Canadians thought they were going to get a responsible budget from a new government. Instead, they were hit with a costly credit card bill. The only thing new was that they doubled Justin Trudeau's deficit. Canadians do not want a double-double deficit. They want to be able to afford a double-double coffee.

When will the Liberals get spending under control?

[Ernie Klassen, Liberal, Parliamentary Secretary to the Minister of Fisheries]

Madam Speaker, last week the minister was pleased to publish the “What We Heard” report from the food fishery survey. This was the largest survey done by DFO, with over 9,500 participants. We want to thank everyone who responded to the survey in order to allow us to work better for the people of the member across the aisle's statement.

Our government knows how important the food fishery is in the province of Newfoundland and Labrador. We need to get this—

[The Assistant Deputy Speaker (Alexandra Mendès), Alexandra Mendes]

The hon. member for Terra Nova—The Peninsulas.

[Jonathan Rowe, Conservative, Terra Nova—The Peninsulas, NL]

Madam Speaker, I was talking about deficits, not fish, but spend, spend, spend is all the Liberals want to do. They cannot spend their way out of inflation. We would think the Prime Minister would have learned that when he wrongfully predicted that COVID spending would actually lead to deflation, but reports are showing that households are still spending more, year over year, on food. Rent is going up year over year. Everything in this country has doubled in the costly Liberal decade.

How many more reports do the Liberals need to see before they realize they cannot build a country, an affordable economy, on credit card debt?

[Caroline Desrochers, Liberal, Parliamentary Secretary to the Minister of Housing and Infrastructure]

Madam Speaker, it is very rich to hear this debate today. The Conservatives are still refusing to come clean with Canadians about where it is they plan to cut.

The member is from Newfoundland and Labrador. Will he say what project the Conservatives are going to pull the plug on and tell workers to go home? Is it the Marina Redmond Centre in Corner Brook? Is it the Build Canada Homes announcement of 130 secure, affordable units for seniors in St. John's, the water infrastructure through the western coast, or the Tors Cove Hall that our government is providing funding for? Please, can they just tell us? We have been asking.

[Michael Kram, Conservative, Regina—Wascana, SK]

Madam Speaker, after 11 years of the Liberals, they continue to spend like drunken sailors, with a deficit of $65 billion, debt servicing at $59 billion and the total debt a staggering $1.7 trillion. The costly credit card budget means more debt, more costs, more spending, more taxes and more of the same.

Why have the Liberals doubled Justin Trudeau's deficit and doubled down on costly credit card budgeting, forcing Canadians to pay more for gas, groceries and housing?

[Kevin Lamoureux, Liberal, Parliamentary Secretary to the Leader of the Government in the House of Commons]

Madam Speaker, how depressing it must be to be a Conservative member of Parliament.

Let me give members some good advice. Canada is not broken. There are a lot of good things that are taking place. All they need to do is open their eyes and open their mind. If we believe in Canada, we need to invest in Canada. That means building on infrastructure. It means investing in Canadians.

The Conservatives have a choice. They can either get on board and be part of a team Canada approach to build a stronger Canada, or continue to be a depressed group of people.

[Some hon. members]

Oh, oh!

[The Assistant Deputy Speaker (Alexandra Mendès), Alexandra Mendes]

Does the concept of politeness resonate with the members? When someone is speaking, someone else should be listening.

The hon. member for Regina—Wascana.

[Michael Kram, Conservative, Regina—Wascana, SK]

Madam Speaker, it is depressing to have to line up at a food bank when 10 years ago someone used to be able to afford groceries, but Canadians are starting to see that the Liberal promises are just an illusion. To quote an editorial in The Globe and Mail, “In the upside-down land of the Liberals, a spending spree is a spending cut, blowing a windfall of billions of dollars is prudent and failing to prepare for a fiscal storm is, well, just good management.”

When will the Prime Minister end his costly credit card budgeting so Canadians can afford to live?