House of Commons Hansard #122 of the 45th Parliament, 1st session. (The original version is on Parliament's site.) The word of the day was prices.
This summary is computer-generated. Usually it’s accurate, but every now and then it’ll contain inaccuracies or total fabrications.
Opposition Motion—Cancellation of Federal Taxes on Gas and Diesel and the Clean Fuel Standard Members debate a Conservative motion to eliminate federal gas and diesel taxes for the remainder of the year and repeal the Clean Fuel Standard. Conservatives argue this provides necessary relief for families facing inflation. Liberals defend their approach, citing targeted benefits for lower-income Canadians as more effective. The Bloc Québécois opposes the motion, contending that tax cuts primarily benefit the wealthy and oil corporations, arguing for measures that instead address the underlying cost of living. 50500 words, 6 hours in 2 segments: 1 2.
An Act to repeal certain restrictions on shipping Second reading of Bill C-264. The bill, Bill C-264, is a private member's motion by Conservative David McKenzie to repeal the Oil Tanker Moratorium Act, aiming to expand export potential for Canadian energy by allowing tanker shipments off the British Columbia coast. While supporters argue this will boost economic prosperity and energy security, opponents from the Liberal and Bloc parties contend it threatens vital ecosystems and harms Indigenous relationships and reconciliation. 8200 words, 1 hour.
Adjournment Debate - The Economy Jacob Mantle questions the inclusion of pension assets in government debt calculations. Ali Ehsassi defends the government's economic approach. Grant Jackson critiques the lack of specific initiatives to increase domestic food production, while Ehsassi asserts that the government’s comprehensive support measures and structural investments are adequately addressing affordability. 2400 words, 15 minutes.
Department of Finance—Main Estimates, 2026-27 Members debate the Department of Finance’s main estimates in a committee of the whole. The Conservative Opposition repeatedly challenges the Minister of Finance on fiscal management, including rising debt, the debt-to-GDP ratio, and infrastructure, arguing the government has failed to meet its own fiscal targets. The Minister defends the government’s record, highlighting generational investments in housing, infrastructure, and the economy, citing expert projections of Canada's strong fiscal position compared to other G7 nations. 37100 words, 4 hours.
Department of Finance—Main Estimates, 2026-27Business of SupplyGovernment Orders
Conservative
Gérard Deltell Conservative Louis-Saint-Laurent—Akiawenhrahk, QC
Madam Chair, I would like to say to everyone listening to us right now that not every cent they are paying in GST is going to federal services. It is paying down the interest on the debt that the man with a trillion-dollar debt has racked up over the last 10 years.
I have one final question about the Quebec City region. When will the federal government provide the funding promised for the tramway?
François-Philippe Champagne Liberal Saint-Maurice—Champlain, QC
Madam Chair, I am pleased to tell everyone in Quebec City who is listening that this Minister of Finance, together with the Prime Minister, has managed to reduce the deficit by $11 billion for the current year. I think people understand that we have adopted a fiscal stance that is reasonable, disciplined and as rigorous as the current situation demands. This should give confidence to all Canadians, including, of course, the people of Quebec City.
The Deputy Chair Liberal Alexandra Mendes
Unfortunately, that is all the time we have.
The hon. member for Calgary East.
Department of Finance—Main Estimates, 2026-27Business of SupplyGovernment Orders
Conservative
Jasraj Singh Hallan Conservative Calgary East, AB
Madam Chair, it has been 965 days since the finance minister said that the price of food would go down within weeks. It has gone up 20% since then. Why?
Department of Finance—Main Estimates, 2026-27Business of SupplyGovernment Orders
Saint-Maurice—Champlain Québec
Liberal
François-Philippe Champagne LiberalMinister of Finance and National Revenue
Madam Chair, the member is a very experienced member of this House. He would probably know that there have been a number of challenges with respect to the supply chain and that we are living through the most important energy crisis we have seen. Therefore, we have seen inflation, not only in Canada, in food prices, but—
Department of Finance—Main Estimates, 2026-27Business of SupplyGovernment Orders
Conservative
Jasraj Singh Hallan Conservative Calgary East, AB
Madam Chair, it was three years ago that the finance minister himself promised that.
Does the minister understand that Liberal taxes, including the industrial carbon tax and the clean fuel standard, make the cost of food go up, yes or no?
François-Philippe Champagne Liberal Saint-Maurice—Champlain, QC
Madam Chair, my colleague will be happy to report to his constituents that on June 5 the Canada groceries and essentials benefit will be helping 12 million Canadians. I am sure that among these 12 million Canadians there are constituents of my colleague's.
This is the kind of boost that families need, and I expect my colleague will vote for Bill C-30 to put that measure in place.
Department of Finance—Main Estimates, 2026-27Business of SupplyGovernment Orders
Conservative
Jasraj Singh Hallan Conservative Calgary East, AB
Madam Chair, does the minister understand that Liberal taxes put onto the cost of fuel, including on the trucker, the farmer and the people who sell the food, end up getting paid by the person buying the food, yes or no?
François-Philippe Champagne Liberal Saint-Maurice—Champlain, QC
Madam Chair, my colleague would understand that this is exactly why we suspended the excise fuel tax of 10¢, and four cents for diesel. We understand, obviously, that this is going to have an impact for consumers. That is the kind of measure that the International Monetary Fund has been calling very targeted and time-limited in the way that we have proposed it.
Department of Finance—Main Estimates, 2026-27Business of SupplyGovernment Orders
Conservative
Jasraj Singh Hallan Conservative Calgary East, AB
Madam Chair, the minister acknowledges that removing the excise tax makes the cost of fuel and food go down. Would he agree that removing the clean fuel standard and the industrial carbon tax would also make the cost of food go down, yes or no?
François-Philippe Champagne Liberal Saint-Maurice—Champlain, QC
Madam Chair, I assume the member will be very happy to vote for Bill C-30.
For those who are watching, this is the bill that will, in effect, put in law the suspension of the excise fuel tax, which is going to be very relevant for Canadians across the country as we walk into summer.
Department of Finance—Main Estimates, 2026-27Business of SupplyGovernment Orders
Conservative
Jasraj Singh Hallan Conservative Calgary East, AB
Madam Chair, the Liberals promised to build 500,000 homes this year. Their own housing agency says they will only build 280,000 homes. When will they build 500,000 homes?
François-Philippe Champagne Liberal Saint-Maurice—Champlain, QC
Madam Chair, my colleague will be happy to hear that we have made generational investments in housing, and in particular with respect to affordable housing. He will know about Build Canada Homes. This is the agency that is going to build more affordable homes in this country, and that is going to be a key pillar of affordability for families.
Department of Finance—Main Estimates, 2026-27Business of SupplyGovernment Orders
Conservative
Jasraj Singh Hallan Conservative Calgary East, AB
Madam Chair, the PBO says that Build Canada Homes will only build 5,200 homes per year. Is that close to the 500,000 homes they promised, yes or no?
François-Philippe Champagne Liberal Saint-Maurice—Champlain, QC
Madam Chair, my colleague will be happy to hear that Build Canada Homes, this new agency, has been tasked to build all the affordable homes that are going to be needed in this country. This is a game-changer for Canadians. It is a pillar of affordability, and we have made generational investments in housing.
Department of Finance—Main Estimates, 2026-27Business of SupplyGovernment Orders
Conservative
Jasraj Singh Hallan Conservative Calgary East, AB
Madam Chair, the minister's own housing agency says that 480,000 homes need to be built per year, over the next few years, to restore home affordability. The Liberals promised 500,000 homes per year. Their own housing agency says that home starts will decrease over the next few years, with a max of 280,000 homes per year.
When will the Liberals build 500,000 homes per year?
François-Philippe Champagne Liberal Saint-Maurice—Champlain, QC
Madam Chair, the member will be happy to hear that the housing measures from 2026 to 2030‑31 will total $56 billion. This is probably one of the largest investments in housing that we have seen in this country. This is going to help families, because we know that housing is a pillar of affordability.
Department of Finance—Main Estimates, 2026-27Business of SupplyGovernment Orders
Conservative
Jasraj Singh Hallan Conservative Calgary East, AB
Madam Chair, the minister has not answered a single question tonight.
The Liberals promised 500,000 homes per year. When will they deliver 500,000 homes per year, just the date?
François-Philippe Champagne Liberal Saint-Maurice—Champlain, QC
Madam Chair, my colleague may not like my answer, but I know Canadians would like to know that housing is a priority for the government. We have made generational investments, and $56 billion will be invested during this fiscal framework to support housing in this country. As we understand, it is a pillar of affordability.
Department of Finance—Main Estimates, 2026-27Business of SupplyGovernment Orders
Conservative
Jasraj Singh Hallan Conservative Calgary East, AB
Madam Chair, does the minister agree with the Prime Minister that affordability is the best it has been in a decade, even though grocery prices are up by $1,000 this year and 2.2 million Canadians are going to a food bank?
François-Philippe Champagne Liberal Saint-Maurice—Champlain, QC
Madam Chair, what I would say is that affordability is top of mind for the government, and it is top of mind for Canadians. We understand. That is why we are acting on the price of homes, the price of food and the price of gas.
Department of Finance—Main Estimates, 2026-27Business of SupplyGovernment Orders
Saint-Maurice—Champlain Québec
Liberal
François-Philippe Champagne LiberalMinister of Finance and National Revenue
Madam Chair, I have the opportunity to speak before you tonight, which I would say is a great privilege.
I want to thank my colleagues for being here this evening and for taking the time to debate important issues, because we are talking about the budget, after all. We are talking about Canada's public finances.
I also want to thank the deputy chair, who plays a very important role in Canada's democracy. I thank the Chair for giving me the opportunity to speak this evening.
Needless to say, as some members have mentioned, Canada, like many other countries, is going through a time of tremendous upheaval.
From new geopolitical dynamics to supply chain disruptions to rapid technological breakthroughs, including in artificial intelligence, the world is changing at an unprecedented speed, scope and scale. Canada, quite simply, must adapt to thrive. That is exactly why the government presented generational investments in budget 2020, and we have continued the work in the spring economic update. We understand that this is the time to be bold. This is the time to build at a speed and scale not seen in generations. This is a time to build Canada strong, and that is exactly what we are proposing to Canadians.
Last year, as the Chair will recall, because she and my colleagues were here, I was honoured to rise in the House to present budget 2025, which laid out our government's ambitious plan to act swiftly to make and unlock generational investments to foster vibrant communities, empower Canadians, protect our country and build the strongest economy in the G7. I am happy to report that we are on track to build the strongest economy in the G7.
Last month, we built upon that progress with the 2026 spring economic update, which further outlined our plan to build a stronger and more resilient Canadian economy, purpose-built to meet the unique challenges of the 21st century and the very challenging times that we are facing in the world. Many of these initiatives were, of course, reflected in the main estimates tabled this year. I am honoured to join you today to discuss the main estimates and our bold plan to build a stronger, more independent, more resilient Canada, to deliver for Canadians and to ensure that growth is felt by Canadians across the country. This is about building a Canada for all.
Today, thanks to the 2026 spring economic update, we are staying on the right track. We are building homes and carrying out major projects across the country quickly and sustainably. We are creating more opportunities for our workers and for young Canadians. We are promoting stronger, safer communities. Together, we can build a stronger Canada for all. I see that my colleagues are smiling. I understand why, because everyone in this place wants to work to build a stronger, more resilient Canada.
First, I want to highlight the Canada strong fund, Canada's own sovereign wealth fund designed to deliver generational infrastructure and nation-building projects and ultimately to grow wealth for future generations. This new fund will invest in key strategic Canadian projects and companies alongside the private sector, creating jobs, supporting innovation and making Canada more competitive.
What is more, Canadians themselves will have the opportunity to invest in the fund, sharing in its success. I was pleased to see the international press say that Canada was creating its own sovereign wealth fund, but that, in a very Canadian way, people would be able to invest and share in the growth that we will see in this country. Like us, Canadians believe in Canadian workers and in the Canadian economy. By taking part directly in our shared successes by investing in the fund, Canadians will be given the opportunity to share in our growth and contribute to the country we are building together.
Because we know that Canadian workers will be the ones who ultimately build the strongest economy in the G7, our government is also launching team Canada strong, a nationwide effort to recruit, train and hire 80,000 to 100,000 new Red Seal skilled trade workers across the country. This innovative program will provide young people in this country with a clear path into the skilled trades and related careers in housing, infrastructure and defence.
We are offering Canadians pursuing apprenticeships up to $16,000 in weekly top-ups during the training, a $5,000 completion bonus and direct incentives for employers, including up to $10,000 in wage subsidies per apprentice. That is what I would call a win-win-win approach, and that is why we are proud to announce this to Canadians.
To support young people, our government is making education more affordable by extending the increase in Canada student grants and interest-free Canada student loans for another year. This will benefit thousands of students across the country.
The goal is not just to create jobs, but to create new opportunities for young Canadians to serve their country, build a fulfilling life and shape their collective future.
Second, I would like to note that the spring economic statement of 2026 highlights many measures to support Canadians at a time when global cost pressures are weighing heavily on households here in the country and among our G7 partners. From permanently removing the consumer carbon price and suspending the fuel excise tax until Labour Day and making groceries and essentials more affordable to getting 6.5 million Canadians dental coverage, our government has been relentlessly focused on making life more affordable for Canadians and providing relief where people need it most.
That includes significant progress in making housing more affordable. Colleagues were asking questions and we are on track to make housing more affordable, which is indeed a key pillar of overall cost-of-living stability. Home prices in Canada are now down 21%, and rents are down 8% nationally. For many families, this is starting to translate into real relief.
The spring economic update builds on the progress made through Build Canada Homes and even includes new investments aimed at increasing the housing supply, reducing costs and helping more Canadians access safe and affordable housing. This includes cutting red tape to build homes faster, supporting innovation in construction, accelerating over $7 billion in low-cost financing, boosting the housing supply, and protecting construction jobs across Canada in partnership with the provinces and territories.
Our government is helping those most in need by expanding support for people experiencing homelessness and ensuring that survivors of domestic violence have access to safe housing.
The government is also continuing to strengthen Canada's independence in key sectors and working more closely with our trusted partners to protect our security and our resilience.
In 2025-26, we invested more than $63 billion in the Canadian Armed Forces, the single largest year-on-year increase in defence investments in this country, as part of our ambitious plan to rebuild, rearm and reinvest in our armed forces. I want to say that we want to thank them. I think I can speak on behalf of all my colleagues in the House tonight. We want to thank the men and women in uniform for their service to this country. I think they deserve a big round of applause.
Thanks to these investments, Canada is now on a path to meet the NATO defence investment pledge of investing 5% of GDP in defence by 2035. These and future investments in Canada's sovereignty will be guided by Canada's first-ever defence industrial strategy and support the more timely and transparent acquisition of military goods through the new Defence Investment Agency.
Obviously, I have a lot to say this evening, because what we are presenting to Canadians is an ambitious plan. Our plan addresses the most pressing issue of the moment, the urgent need for action. I attended a G7 meeting last week, and I can say that the G7 countries are united in their desire to take action. We sometimes hear about the fog of uncertainty that has descended on the world. What I can say is that Canada is like a beacon in that fog, with strong institutions, a generational plan and investments that will grow the economy.
I can report to Canadians that Canada is on the right path. We will build Canada strong. We will be protecting our communities. We will empower Canadians. The best thing is that we are just getting started to work, and we will continue to fight for Canadians every single day.
Department of Finance—Main Estimates, 2026-27Business of SupplyGovernment Orders
Winnipeg North Manitoba
Liberal
Kevin Lamoureux LiberalParliamentary Secretary to the Leader of the Government in the House of Commons
Madam Chair, I appreciate many of the words the Minister of Finance has put on the record this evening.
I want to pick up on a couple of points. As a government and as the Minister of Finance, we have seen action on two fronts. One is in terms of building Canada strong, a Canada that is there for all Canadians, and there are many examples, some of which the Minister of Finance has referenced. The other issue is, of course, taking a look at the issue of affordability. We all know that affordability is a very important issue for Canadians. Again, what we have seen through the Department of Finance is some very specific action to support Canadians on the issue of affordability. I would like to expand very quickly on those two points.
When I think of the affordability issue, I think of the groceries and essentials benefit. It is an excellent example. In the month of June, there is going to be substantial payments going to, I believe, somewhere around 11 million Canadians. I think that will help on the affordability issue. Also, there has been a great deal of discussion, and the government has come forward on the excise tax on gasoline with what is about a 10¢-a-litre break for Canadians. The minister made reference to the summer months. We are going to see a lot of Canadians staying in Canada, touring and taking a look at the different regions of the country by vehicle. The 10¢ reduction is very helpful on the issue of affordability.
As we provide affordability programs, and I should have also mentioned the national school nutritional program for 400,000 children, at the same time we are investing in building a stronger Canada by looking at the national sovereign wealth fund, which is something the minister has made reference to. It is a fund that is going to assist with billions of dollars of investment and growth.
I am wondering if the minister can provide his perspective in terms of supporting Canadians on the affordability file alongside building that stronger Canada.