Mr. Speaker, the Parliamentary Budget Officer released four reports on the Liberals' costly credit card budget this morning, and the picture they painted, in our briefing with Annette Ryan, was deeply concerning.
Here is what she confirmed. We still do not have clear definitions of what counts as capital versus operating spending, so she cannot verify whether the government is meeting its own fiscal anchors. The trillion‑dollar investment plan still has no timeline, no performance metrics and no real reporting. The housing plan will not meet targets. The defence plan is a massive unfunded risk. The tens of billions in new spending has no clear governance, no updated costing and no transparency on delivery. The money for the $25‑billion sovereign debt fund will be coming from the Bank of Canada issuing bonds to finance it. Who is buying our debt? An IMF report in April flagged that volatile foreign hedge funds now make up a large share of investors, which puts Canada at serious risk.
This morning's briefing was alarming, to say the least. When will the Prime Minister get serious, stop the credit-card budgeting and let Canadians—