moved:
That the House recognize that the Liberal Prime Minister has given Canada the:
(i) only economy in recession in the G7,
(ii) worst household debt in the G7,
(iii) worst housing costs in the G7,
(iv) second highest unemployment in the G7, a third higher than in the United States;
accordingly, the House call on the Liberal Prime Minister to immediately present a plan to reverse all the economic policies of the Liberal government which have given Canada the G7's worst economy.
Mr. Speaker, I am going to be splitting my time with my great friend, and a decent hockey player, the member for Swift Current—Grasslands—Kindersley.
Where is this Prime Minister? He has been hiding, ducking and dodging since Friday morning. This is the guy who was supposed to be a master negotiator, the guy who would get a deal done. He said he was the guy who would get Canada back on track, and he said he was the man with the plan. However, it all turned out to be a sham at the end of the day because on Friday morning, Canadians got the devastating news of something that they have already been feeling in the last 10 years under the incompetent Liberal government: Canada is in a full-blown Liberal recession.
In fact, this Liberal Prime Minister is the only leader in the entire G7 to drive the economy into a full-blown recession. All of the other G7 countries face the exact same external pressures and the exact same tariffs. Why is it that this Prime Minister, who was supposed to be the guy, plunged our economy into a recession? In fact, in the entire OECD, Canada is one of only two countries that are in a recession now.
Liberal pundits and their paid media keep saying this is just a technical recession. What is a technical recession? This full-blown Liberal recession meets the criteria with two consecutive quarters in a shrinking economy, but let us look at the time since this Prime Minister took power. In three out of the four quarters since he became Prime Minister, the economy has shrunk. Business investment has declined for five straight quarters and $20 billion of net investment has fled the country since he became Prime Minister. Just in the first three months of this year, 120,000 jobs are gone and 48,000 of those people are still looking for work.
This Prime Minister delivered to Canada the second-worst unemployment rate in the entire G7. He is the worst when it comes to housing costs. In the entire G7, Canada, under this Prime Minister, is the worst when it comes to household debt. Let us dig into that a bit. What does this recession mean? It may be technical to the paid media, but in Canadian terms, it is the single mom who has to put groceries back because she cannot afford them or she has to buy in portions every week because the cost of living has skyrocketed under the Liberals. Including food costs and housing costs, everyday life is more expensive because of Liberal taxes and the failure of Liberal policies.
It is the dad in Windsor who has lost his job. He is one of the 120,000 people who, in the first three months of this year under the Liberal government, lost their job. He has to sit around the dinner table explaining to the kids how many things they cannot do over the summer and how many vacations they cannot have because he is more worried about how he is going to pay the bills, pay the mortgage or rent and put food on that table. It is the mom who just got laid off and was barely hanging on. It could be one of the majority of Canadians who are just $200 away from insolvency. It could be one of those 2.2 million Canadians who are waiting in a food bank line every single month, and that number might even go up now because of the job losses under the current government.
This Prime Minister sold himself to be something different. He said he would not be like the previous guy. He is actually worse, so he is right in one sense. Not only is he spending more, if one can believe that. He doubled the deficit that Justin Trudeau left. Then, he corrected himself in the update and became the second-worst as well, having the second-worst deficit in Canadian history outside COVID. That means more costs, more debt and more taxes on Canadians. It is more of the same and it is all on the Canadian credit card. He does not care. This guy is better at going around and shaking a lot of hands, signing a bunch of fake papers and jet-setting around the world. However, it does not just stop at jet-setting around the world. He makes sure he has the finest meals on those planes. In fact, he just recently spent $200,000 on fine dining on those plane rides.
While Canadians are lining up in record numbers at food banks, and the food banks are even running out of food now, the Prime Minister gets to live lavishly, jet-setting around the world, pretending he is doing something. After all that showboating and all of that show, at the end of the day, he has plunged Canada's economy into a full-blown Liberal recession. There are families who are affected and who had been affected before.
In fact, in the business community, for consecutive quarters, there are more businesses closing in Canada than are opening. Business insolvencies are up. People are starting to miss their mortgage and credit card payments. The cost of everyday life has only gotten worse under the incompetent Liberal Prime Minister. In fact, if we look at debt loads, Canada has the highest debt load in the entire G7. Because of Liberal policies, the costs of food and housing are way up, and just those two pieces alone now make up about 120% of one person's income. That means someone's entire paycheque gets eaten up and then they have to either borrow, or put on credit, for food or other essentials. Then, that just piles up, and they start missing payments, which is exactly what is happening now.
The number of defaults, delinquencies and insolvencies are all up. We have not seen some of these numbers since 2009, when we literally had a global financial crisis, and the difference back then was that we had a really responsible Conservative government that knew where to spend money and that knew how to create jobs at the time. We never saw an inflation crisis the last time this happened. I do not remember an inflation crisis. I do not remember interest rates spiking at the highest and fastest rate in Canadian history. That medal goes to the incompetent Liberal government, because all it does is spend, spend, spend, because it does not mean anything to the government.
The Prime Minister is more concerned about his banker, bondholder and Brookfield buddies than he is about the average everyday Canadian. In fact, he is the same Prime Minister who sold the illusion that he was the guy who was going to deal with Donald Trump. He was all “elbows up”. Now everything is down, including our economy. We are in a recession, and now the Prime Minister is on team Trump. In fact, now he is parroting Donald Trump. Now it is “make America great again”. However, I ask, “What about Canada?” We might as well get the Prime Minister a MAGA hat.
What we are asking for today is that the incompetent Liberal Prime Minister present a plan, stop hiding and come out of the witness protection program. He is supposed to be leading this G7 country, the same one that he has driven into a recession. He must tell Canadians what his plan is.
Conservatives have a plan. If the Liberals want a plan that will help us get out of this mess that they created, they can take our plan and take credit for it. They can put their stamp on it, and at least Canadians would have a future that is more safe and more affordable. Conservatives would end the antidevelopment laws that the Liberals passed, like Bill C-69 and Bill C-48, which does not let our product leave the west coast and does not let pipelines get built. We would get rid of the industrial carbon tax, which makes the cost of everything more expensive. We would lower taxes for individuals, small businesses and corporations, so we can create the business environment that we need. We would introduce a law so that, any time a Canadian company reinvests its capital gains in Canada, they would not have to pay those capital gains taxes. They could defer them, so we could create better jobs and a better economy right here in Canada.
Of course, we would put an end to all the Liberal waste: the billions and billions of dollars that go to Liberal-connected insiders in consultant fees because the Liberal ministers are too incompetent to create plans of their own, and the boondoggle of a project that is Alto. The government, for a project that has not even started yet, has already shovelled out millions in bonuses. We would put an end to this Liberal corruption.
The Liberals can take our plan. Let us get working for Canadians together. It is time for the Prime Minister to come out of hiding and present a plan.