Mr. Speaker, Canada is in a recession. It is a distinction no other G7 nation shares. Despite facing the same international pressures as our allies, including American tariffs and global energy constraints, Canada stands alone in this regard. The government needs to take a hard look at why.
In fact, the Liberal government routinely claims that Canada has the best tariff deal in the world with the U.S. Just last week, appearing before a committee, the Minister of Finance stated that Canada has one of the lowest tariff rates overall, so why is Canada in a recession?
Poor domestic policy has driven a $20-billion loss in net investment over the past year, the loss of more than 100,000 jobs in the last three months alone and inflationary spending that continues to drive up the cost of living. I urge the Liberal government to recognize the gravity of the situation and take the necessary steps to pull Canada back from the brink of economic calamity.