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
Melissa Lantsman Conservative Thornhill, ON
Mr. Chair, does the finance minister know that the single biggest hurtle to investment decisions in this country right now is not tariffs? His own business council, the Business Council of Canada, says it is Canada's own domestic regulatory burden that is in the way. It is government that is in the way of those investment dollars.
Does he agree with any of that?
François-Philippe Champagne Liberal Saint-Maurice—Champlain, QC
Mr. Chair, I would say global investors see Canada as the place to invest. I would remind my colleague of the International Energy Agency, which mentioned that Canada is playing a big role in the new energy architecture. It is a good thing that Canada is seen as an energy superpower in conventional, renewable and nuclear energy. We are going to build Canada strong together.
Department of Finance—Main Estimates, 2026-27Business of SupplyGovernment Orders
Conservative
Greg McLean Conservative Calgary Centre, AB
Mr. Chair, attracting private investment and advancing major projects is critical to economic growth and government revenues.
Will the minister agree with that?
Department of Finance—Main Estimates, 2026-27Business of SupplyGovernment Orders
Saint-Maurice—Champlain Québec
Liberal
François-Philippe Champagne LiberalMinister of Finance and National Revenue
Mr. Chair, I would agree that we have put the conditions in place to attract investment in this country, and the numbers speak for themselves.
Department of Finance—Main Estimates, 2026-27Business of SupplyGovernment Orders
Conservative
Greg McLean Conservative Calgary Centre, AB
Mr. Chair, can the minister tell us how long it took for the government to get the TMX pipeline built?
François-Philippe Champagne Liberal Saint-Maurice—Champlain, QC
Mr. Chair, my colleague will be pleased to know that the International Energy Agency and international commentators see Canada playing a bigger role when it comes to energy security around the world and that we have taken a number of measures to support the energy industry in this country.
Department of Finance—Main Estimates, 2026-27Business of SupplyGovernment Orders
Conservative
Greg McLean Conservative Calgary Centre, AB
Mr. Chair, TMX took five years and went over budget five times, by $28 billion Canadian taxpayer dollars, to triple the size of a pipe on a pathway that already had a pipeline. That means no new pipe and no new land.
Where did the $28 billion go?
François-Philippe Champagne Liberal Saint-Maurice—Champlain, QC
Mr. Chair, I am trying to understand my colleague's question. He is saying that Canada needs to build more. I agree with him. We need to build more to make sure we can bring our energy resources to market. I would say our Asian partners and European partners are counting on Canada to play a bigger role when it comes to energy.
Department of Finance—Main Estimates, 2026-27Business of SupplyGovernment Orders
Conservative
Greg McLean Conservative Calgary Centre, AB
Mr. Chair, it took five years for TMX to get built, and it was $28 billion over budget. The Liberals just announced a memorandum of understanding with the Government of Alberta to build a pipeline that is going to be a projected deliverable seven years from now.
Why is that going to take so long if there is an energy emergency around the world?
François-Philippe Champagne Liberal Saint-Maurice—Champlain, QC
Mr. Chair, my colleague would know, because he is a very learned colleague, that the energy ecosystem is being redesigned in the world. Like I said, the crisis in the Middle East is calling for countries to redesign their energy ecosystems. That is what we have heard. In that context, Canada is being called on to play a bigger role in terms of energy security.
Department of Finance—Main Estimates, 2026-27Business of SupplyGovernment Orders
Conservative
Greg McLean Conservative Calgary Centre, AB
Mr. Chair, is it the minister's view that investment in Canada's resource sector has increased or decreased since 2015?
François-Philippe Champagne Liberal Saint-Maurice—Champlain, QC
Mr. Chair, it is certainly my view that we will see more investment in the energy sector in Canada. We can just look at the recent investment of Shell, which made one of its largest investments in Canada. We have also seen LNG Canada, which is one of the largest of its kind. There are a number of LNG projects that we are seeing, and more will be coming because people—
Department of Finance—Main Estimates, 2026-27Business of SupplyGovernment Orders
Conservative
Department of Finance—Main Estimates, 2026-27Business of SupplyGovernment Orders
Conservative
Greg McLean Conservative Calgary Centre, AB
Mr. Chair, Shell made an acquisition, not an investment. I will make the minister cite that difference.
How much private sector capital has left Canada for U.S. projects over the past five years?
François-Philippe Champagne Liberal Saint-Maurice—Champlain, QC
Mr. Chair, I am happy to say that the foreign direct investment inflow in Canada in 2025 was $97 billion. Investors around the world see what Canada has to offer. We have one of the most educated workforces. We have very strong industry. We have critical minerals. We have energy, and we are the only country in the G7 with free trade with all other G7 nations. We have what we need to succeed.
Department of Finance—Main Estimates, 2026-27Business of SupplyGovernment Orders
Conservative
Greg McLean Conservative Calgary Centre, AB
Mr. Chair, does the minister know how long it actually takes, on average, to approve a major energy or infrastructure project in Canada?
François-Philippe Champagne Liberal Saint-Maurice—Champlain, QC
Mr. Chair, my colleague will have the opportunity to vote on legislation that would certainly help to build more in this country, and I think that is what we want to see. We are united in wanting to see more infrastructure and more investment in this country, and it is a great thing for international investors. Like I said, in 2025, FDI inflow was $97 billion. That is a record.
Department of Finance—Main Estimates, 2026-27Business of SupplyGovernment Orders
Conservative
Greg McLean Conservative Calgary Centre, AB
Mr. Chair, it takes five, six or seven years. These tracks keep getting longer, and the minister does not seem to recognize that this is the problem.
Is that timeline shorter than it is in the United States?
François-Philippe Champagne Liberal Saint-Maurice—Champlain, QC
Mr. Chair, I would invite my colleague to speak to global CEOs. He would be pleased to hear that they very much value investments in Canada. When I travel and speak to global CEOs, they see why Canada is the place to invest in. We just have to follow the dollars, and we are seeing large investments, like the one Shell made recently. They speak with their dollars.
Department of Finance—Main Estimates, 2026-27Business of SupplyGovernment Orders
Conservative
Greg McLean Conservative Calgary Centre, AB
Mr. Chair, that is interesting, because most global CEOs are investing in the U.S. and Mexico, including in infrastructure, where it takes about one-third of the time to get a project built than it does here in Canada.
Does the minister believe legislation like the Impact Assessment Act has made it easier or harder to build major projects in Canada?
François-Philippe Champagne Liberal Saint-Maurice—Champlain, QC
Mr. Chair, the global CEOs I talk to around the world, and there are many, value investments in Canada. They value predictability, stability and the rule of law. I just have to look at the recent investment of Shell as an example. It sees Canada as playing a big role as an energy superpower.
Department of Finance—Main Estimates, 2026-27Business of SupplyGovernment Orders
Conservative
Melissa Lantsman Conservative Thornhill, ON
Mr. Chair, I am going to start off where I left off. The Prime Minister announced a plan to attract $1 trillion of new investment after that former industry minister watched $1 trillion leave this country on his watch.
Can the minister admit to Canadians that this is not ambition, but damage control? He is trying to replace what his last government lost. Is that true?
François-Philippe Champagne Liberal Saint-Maurice—Champlain, QC
Mr. Chair, I would be pleased to quote something that I know my colleague would like: “Canada Leads the G7 in Direct Investment Inflows Per Capita”. We are way ahead of the United States, and the investments we are making are going to attract even more investment.
Department of Finance—Main Estimates, 2026-27Business of SupplyGovernment Orders
Conservative
Melissa Lantsman Conservative Thornhill, ON
Mr. Chair, I can see that the minister does not want to admit it or answer my question, so I will talk about foreign direct investment. The minister frequently celebrates Canada's foreign direct investment numbers, but he knows, as finance minister, that all of those numbers are not created equal.
Can he tell the House what share of Canada's inbound foreign direct investment over the last decade came from mergers and acquisitions, from foreign firms buying Canadian firms?
François-Philippe Champagne Liberal Saint-Maurice—Champlain, QC
Mr. Chair, I would be happy to quote this again: “Canada Leads the G7 in Direct Investment Inflows Per Capita”. In fact, it is nearly double that of the United States on a per capita basis. Investors, like my colleague, understand that Canada is the place to invest. That is why we have seen record investment in 2025, and that is why we are seeing more and more firms looking to invest in Canada. That is why we are going to have an investment summit in September, to attract capital to our country.
