Debates of June 2nd, 2026

Opposition Motion—Economic Policies

[Serge Cormier, Liberal, Acadie—Bathurst, NB]

Mr. Speaker, in his speech, my colleague talked a bit about diversification. In their speeches, Conservative MPs like to talk a lot about market diversification to help our economy, but the only market diversification deal the Conservatives were able to strike was when they exported their leader from a riding in Ontario to a riding in Alberta.

Can my colleague talk about the investments the Prime Minister was able to bring to this country that will help his riding and our country?

[Taleeb Noormohamed, Liberal, Vancouver Granville, BC]

Mr. Speaker, if we look at the number of trade agreements we now have with countries around the world, we can see that countries are seeking to invest in Canada. Whether they are countries in the Middle East or Europe, or our partners in the EU, more and more countries are looking at Canada with confidence as the place to invest. Why? It is because there is a government they can trust and rely on. There are Canadian workers who have talent and are the best in the world. We have research and researchers in this country coming up with the ideas of the future today.

They see the convergence of those three things as a recipe for success and a place where they can place a bet, and they know our word means something.

[Xavier Barsalou-Duval, Bloc, Pierre-Boucher—Les Patriotes—Verchères, QC]

Mr. Speaker, I would like to congratulate my colleague on his speech. While we do not necessarily agree with everything in the Conservative motion before us today, we do believe it raises an interesting and relevant question to which I do not feel the government has provided an answer.

Essentially, what the Conservatives are saying is that Canada is in a technical recession, that things are going badly and that the Liberals are to blame. The fact is I cannot say that they are not at least partly to blame. They are the ones in charge, after all. The Prime Minister, who was elected nearly a year ago, promised us he would resolve the tariff crisis with a wave of a magic wand.

Here we are a year later, and nothing has changed. Now, today, the government is engaging in rhetoric by trying to contrast having agreements with our southern neighbour with having agreements with other countries around the world.

Given the difficult situation, might it not be time for the government to sit down at the negotiating table with our southern neighbour?

It might be time for the government to realize that we cannot really get by without doing business with them either.

[Taleeb Noormohamed, Liberal, Vancouver Granville, BC]

Mr. Speaker, in English, we say we should be able to walk and chew gum at the same time.

We believe we need to work toward resolving the issue of U.S. tariffs. That is what we are doing. At the same time, we believe it is important to diversify our trade with other countries. That is why we have succeeded in establishing agreements with other countries for Canadian products, thereby creating opportunities for Canada to diversify—

[The Assistant Deputy Speaker, John Nater]

I have to interrupt the hon. member.

The hon. member for Madawaska—Restigouche.

[Guillaume Deschênes-Thériault, Liberal, Madawaska—Restigouche, NB]

Mr. Speaker, today's motion is on a serious topic. However, it is written in a very unserious way.

As we know, the United States has fundamentally changed its approach to trade with countries around the world, not just with Canada. However, given our geographic proximity to the United States and given the fact that it is our main trading partner, this tariff dispute, which we did not initiate, is having specific repercussions on the Canadian economy, our workers and our businesses. At the same time, conflicts around the world, particularly in the Middle East and Europe, are having significant impacts on supply chains, which in turn affect the global economy.

In light of today's challenges, Canadians do not need political theatrics. They need a serious plan to strengthen our economy and make it more resilient. In last year's general election, Canadians had a choice between a team offering empty slogans and divisive politics, and a team with a plan to strengthen our economy. That is exactly what they chose.

Since our election, we have been working to diversify the Canadian economy, facilitate the implementation of major projects of national interest, strengthen domestic demand, and support our workers and businesses.

When we look at the motion tabled today, it is clear that the official opposition is not taking the current challenges seriously enough. Once again, it is presenting us with a motion that seems designed more to fuel social media content and generate sound bites than to propose concrete solutions and work with us for the benefit of the Canadian public.

I can list a few examples to illustrate our work and the results we are achieving. When it comes to economic diversification, we have been working for over a year to strengthen our trade partnerships around the world. This enables our businesses to access new markets and, at the same time, attract foreign investment to Canada.

In fact, over the last 12 months, we have made significant progress in this regard. We have signed more than 20 new economic and defence partnerships and secured nearly $97 billion in foreign investment commitment. These are concrete results. They have an impact on the Canadian economy as well as on the ground, in our ridings.

For example, agriculture is an important sector of the economy in Madawaska—Restigouche, where many farmers grow potatoes. The new agreement with Mexico will give Canadian potato farmers access to a market of over 130 million consumers. I have talked to business owners in my riding about this, and they are very excited about the benefits of this new agreement. That is how we build a strong economy: by providing new markets and new opportunities for Canadian businesses.

I also want to mention that, in our work to strengthen the Canadian economy, we are also looking to develop new sectors and build capacity in areas where we may be less competitive right now. I will use the commercial space industry as an example. Right now, Canada is the only G7 country without sovereign space launch capabilities. That means that our country, our businesses and our institutions have to rely on foreign countries, particularly the United States, to launch their satellites into orbit.

This reliance has real-world consequences. It is diverting investment to other countries. Naturally, since we lack sovereign space launch capabilities, investors turn to other countries. This leads to costly delays for our companies, since they need to launch their satellites through other countries. In addition, our critical infrastructure is at the mercy of decisions that are beyond our control.

In an increasingly uncertain and competitive world, Canada can no longer rely on others to guarantee its access to space. That is why we introduced a bill on Canadian space launches. This legislation will be a real game-changer by establishing the framework needed to build Canada's own space launch capabilities. The idea is to boost Canada's commercial space launch industry.

These changes will have real benefits for the Canadian economy. They will help develop a new commercial space industry in Canada and create numerous opportunities, particularly in the telecommunications sector. This is a particularly promising area. We often hear about connectivity problems in rural areas. Certain emerging technologies like low-earth orbit satellites show a lot of potential for improving connectivity in regions that are currently underserved by cellular networks. However, if we want a seat at the table, we need to have the capacity to develop these technologies in Canada and then be able to launch our own satellites. This also opens up all sorts of interesting opportunities in navigation and natural resource development in remote regions, as well as in the defence sector.

This will also help reduce costly delays for Canadian businesses. We also expect it to attract billions of dollars in investment to Canada. In fact, since the announcement of this bill, several Canadian and foreign space launch companies, as well as foreign governments, have approached our government to signal interest in doing business in Canada for satellite launches. This is creating new partnership opportunities with our NATO allies and strengthening Canadian sovereignty. It is a concrete example of how our plan to strengthen the economy also helps strengthen our defence capabilities and our sovereignty. Moreover, as a member from an Atlantic riding, I am pleased to note that this potential is particularly significant in the Atlantic provinces, where several spaceports are under development, including the Maritime Launch Services spaceport in Nova Scotia and NordSpace's Atlantic Spaceport Complex in Newfoundland and Labrador.

When we talk about investments that will strengthen the domestic market, when we talk about investing in infrastructure, building housing and delivering major projects of national interest, we have to start by investing in our workforce and our workers. In last month's economic update, we announced a plan to increase the number of workers in the country's Red Seal trades. For starters, apprentices attending technical training can get up to $400 in financial support per week—$16,000 per year—plus a $5,000 bonus when they obtain their certification. We want to give them a financial incentive to help them complete their training from A to Z. We will also provide financial support to small and medium-sized businesses that offer on-the-job training because apprentices have to accumulate a certain number of hours to get certified. Specifically, we will provide up to $10,000 in wage subsidies to small and medium-sized businesses that take on apprentices. This is an effective way to increase the number of welders, electricians, plumbers and carpenters, to name just a few. These workers are essential to achieving our ambitious goal to build more in Canada.

When we talk about providing employment opportunities, we also need to talk about youth. In budget 2025, we announced increased funding for the Canada summer jobs program. In my riding, it amounts to an investment of over $1.5 million this summer to support more than 400 jobs. These jobs provide practical work experience for young people in Madawaska—Restigouche. They will have an opportunity to work for community organizations, municipalities, day camps, the construction sector or SMEs. This wide range of employment opportunities might not have been available without this funding. For employers, SMEs, community organizations and municipalities, this is a game-changer. Over the past few weeks, I have called over 200 different employers in my riding to let them know the good news that they are going to receive funding this summer through this program. Based on the feedback I received, the program is making a real difference to them. I would like to take this opportunity to wish all the young people in my region who get jobs through the Canada summer jobs program a terrific summer.

When we talk about building a stronger Canadian economy, we must also ensure that we build a fair and equitable system and that we are there for those who need it most. That is why all our efforts to strengthen the Canadian economy are accompanied by a social safety net. I am thinking of all the programs we have put in place over the years, including the Canada child benefit, the Canada disability benefit, the Canadian dental care plan, the affordable child care programs and the Canada groceries and essentials benefit. These programs make a huge difference to those who need them most. Unfortunately, when the official opposition is presented with measures that genuinely help people, their instinct is usually to oppose them.

In closing, I think that we can see a contrast between this side of the House and the other side. The motion that is before us today is a joke. It was written in such a way that it cannot be supported. It seems to have been designed to generate sound bites for social media. It proposes very little in the way of concrete measures. On our side of the House, we do not let ourselves get distracted by this sort of grandstanding. From day one, we have remained focused on our work. Canadians gave us a clear mandate: to strengthen the Canadian economy and make it more resilient. That is what we are doing to deliver the results the public expects.

[Pierre Paul-Hus, Conservative, Charlesbourg—Haute-Saint-Charles, QC]

Mr. Speaker, I love hearing my colleague accuse the Conservatives of being people who just want sound bites for social media. The point is that we are not making things up when we present the facts, when we talk about the loss of 113,400 jobs in Canada and when we talk about how people are struggling to put food on the table. We have the statistics to back up what we are saying.

Statistics Canada has said that two consecutive quarters of negative growth mean we are headed for a recession. We are not making that up. I would like the member to provide further clarification on his way of thinking rather than attacking us in such a strange way.

[Guillaume Deschênes-Thériault, Liberal, Madawaska—Restigouche, NB]

Mr. Speaker, I would invite my colleague to reread all the opposition motions that have been put forward in the past year.

When it comes to the Conservatives, there is rarely anything substantive. It is always couched in hyperbole and exaggeration. There is little substance in their motions, and criticism comes easily. They are drafted in such a way that it is clear they cannot be supported.

Personally, I would like to see more substance and more solutions in Conservative opposition day motions.

We were talking about results, and we want results. Canada is expected to have the second-strongest growth in the G7 this year. Exports to non-U.S. markets are expected to double over the next decade. Foreign direct investment in Canada is up. We have signed more than 20 trade and partnership agreements around the world.

These are concrete results that are making a real difference for the people we represent.

[Alexis Deschênes, Bloc, Gaspésie—Les Îles-de-la-Madeleine—Listuguj, QC]

Mr. Speaker, I thank my riding neighbour for his speech. He and I represent ridings where seasonal work is a reality.

According to the IMF, Canada's household debt is one of the highest in the world right now. Those most often affected are low-income earners, our seasonal workers, the very people who are indispensable in economic sectors that serve as pillars of our regions, such as the fishing industry.

I recently met Lise Lapierre of E. Gagnon & Fils, in Sainte-Thérèse-de-Gaspé. She spends long hours pushing carts full of crabs and lobsters. In spite of everything, she is dealing with the EI spring gap. This year, it lasted from March through mid-April.

Does my colleague not think that, to address the economic situation, this government needs to wake up and quickly reform employment insurance to put an end to the spring gap for seasonal workers?

[Guillaume Deschênes-Thériault, Liberal, Madawaska—Restigouche, NB]

Mr. Speaker, in our most recent economic update, we announced a funding extension for the pilot project providing five additional weeks of benefits in 13 economic regions, including the two regions in my riding. I believe my colleague's riding is also included in this pilot project. This will provide five additional weeks of regular EI benefits to help bridge what is commonly referred to as the “spring gap”.

This is in addition to other measures we have implemented, such as eliminating the one-week waiting period for EI benefits.

[Serge Cormier, Liberal, Acadie—Bathurst, NB]

Mr. Speaker, I too want to thank my riding neighbour for his speech.

He talked a lot about infrastructure. There is an infrastructure fund that has been very useful for his riding and mine. The Conservatives voted against that fund. It is the rural transit solutions fund.

My riding and my colleague's riding are now connected by a public transit system, which is something our ridings did not have before. My colleagues can imagine how hard it was not having public transit. Now we do have public transit in our ridings thanks to the programs that the government implemented.

Could my colleague tell us how this program has helped people in his region get to other regions?

Could he also tell us how even tourists to our region are now able to benefit from this new service?

[Guillaume Deschênes-Thériault, Liberal, Madawaska—Restigouche, NB]

Mr. Speaker, our federal funding covered a substantial portion of the capital costs of providing a public transit service that is truly tailored to rural regional realities. FlexGo is providing affordable service that meets the needs of our seniors, workers and post-secondary students.

Since this service was launched, it has made a huge difference on the ground and in people's lives. This is an investment that is contributing to the economic vitality of our communities while providing an essential service for people who may not have any other way to get around. It has been a resounding success from the start. Ridership has been even higher than predicted.

This is a concrete example of how we are contributing to our rural regions.

[Warren Steinley, Conservative, Regina—Lewvan, SK]

Mr. Speaker, when the Prime Minister was asked about the recession he created, he ran away like a scared jackrabbit.

Can the member tell me where the Prime Minister is?

[Guillaume Deschênes-Thériault, Liberal, Madawaska—Restigouche, NB]

Mr. Speaker, the Prime Minister works every day to implement our plan to build the Canadian economy.

One need only look at the results; they speak for themselves. More than twenty new partnerships have been launched around the world. We have attracted foreign investment to Canada. We have the second-strongest economic growth among G7 countries—

[The Assistant Deputy Speaker, John Nater]

The member's time is up.

I will just remind members, we are getting close to that thin line in mentioning the presence or absence of members of this place; we are not going to go down that road.

Resuming debate, the hon. Leader of the Opposition.

[Pierre Poilievre, Conservative, Leader of the Opposition]

Mr. Speaker, on Friday morning, we learned that Canada is the only G7 country in a recession. This is the topic the member for Edmonton West will address, as I will be sharing my time with him. As he will explain, we are the only G7 country in a recession. For the past five days, we have been waiting for a response from the Prime Minister, a man who has portrayed himself as a brilliant economist and crisis manager. For five days, we have been in crisis due to the revelation that our economy is the only one in decline, for two consecutive quarters. We are the only country in North America that is in a recession.

What does the Prime Minister have to say about this?

First, he said nothing. It took four days before he spoke to reporters. Last night, he approached a reporter. He thought she might ask him a nice question, perhaps give him a compliment. He was very happy. When she got to the microphone, the reporter asked him a question about the recession. Suddenly, he was unable to speak. He turned around and dodged the question. That is quite a response from a great economist.

This morning, we asked him the question: Is Canada in a recession?

He did not answer, other than to say that the economy is weak. Yes, it is weak. It is not the biggest and fastest-growing economy in the G7, as he had promised. It is a weak economy. Then he started making up excuses.

Today, we are going to deal with the excuses that the Prime Minister is coming up with to justify having the only recession in the G7. Today, he says it is purely accidental and that if we take a closer look at the data, we will see that the investment component of GDP is up.

Let us look at the report that Statistics Canada released on May 29, 2026. What does it say about investment?

Allow me to quote a line from that report:

Business capital investment fell 0.7% in the first quarter of 2026, the fifth consecutive quarterly decline.

Investment has been down for five straight quarters. One of the causes of this recession is the dearth of investment. Based on the numbers since this Prime Minister took office, there has been a net decline of $20 billion in investment. In fact, we have the worst investment numbers in the G7, and we can see that the only economic aspects that went up last quarter are government spending and consumption, not investment.

The Liberals' second excuse is that this is just a technical recession.

There is no such thing as a technical recession. Two consecutive quarters of negative growth is, by definition, a recession. The Liberals and their friends say we cannot just look at a single data point, so, okay, let us look at more data points.

In the first three months of this year, 112,000 jobs were lost. The net number of jobs lost since the Prime Minister took office a year ago is 45,000.

Canada's unemployment rate is the second-highest in the G7. It is one-third higher than in the United States. The economy contracted in three of the last four quarters since the Prime Minister came to power. Our economy has bled more than $20 billion in net investment. A total of $109 billion drained out of the Canadian economy, and only $89 billion flowed in. Most of that foreign investment has been used by foreign corporations to take control of Canadian businesses. There has been no real, material investment.

Canada has by far the highest level of household debt in the G7. This may be why Equifax reported that the number of insolvency cases had reached levels not seen since 2019, with a 19% increase over the previous year. In fact, 1.5 million Canadians missed a minimum payment on their debts. The mortgage delinquency rate rose by 32% compared to the previous year.

When we look at the numbers in Canada, it is clear that we are in a recession because of the Liberal policies that have been imposed. No, they cannot use the usual excuse of tariffs or global factors. Every other country in the world is facing these challenges, but no other G7 country except Canada is in a recession. Mexico is part of North America and shares a border with the United States, but it is not in a recession. Canada is the only one in a recession.

That is why we need to reverse the Liberal policies that caused the recession. The recession was caused by taxes, anti-development laws, government red tape and the doubling of the deficit. We, the Conservatives, are proposing to cut taxes on labour, energy, investment and housing construction. To reduce the cost and size of government, we are proposing to cut red tape, consultants, business support, foreign aid, handouts for bogus refugees and so on. The free enterprise system will enable us to grow our economy and cut costs. That is a real solution and that is what we are proposing today.

I rise today to address the news from Friday that Canada is the only G7 country in a recession. Five days have gone by, and the Prime Minister has not bothered to answer a single question in the House of Commons addressing this terrible news. He said he was a man with a plan, a guy who could handle a crisis, and yet for four days, he would not even take media questions on the fact that Canada was the only G7 country in a recession.

Yesterday, while walking out from a speech, a journalist called him over. He had a big smile on his face, expecting that the media was going to again throw rose petals at him. When he arrived and found that the question was about the recession, he said oh, ah, and he turned around and walked away, that being his first response after four days of learning that Canada is in a recession, the only country in the G7 in a recession.

Today, he finally took a few questions from the media but refused to answer whether we were in a recession. He did make a number of excuses. He claimed that it was just that some aspects of GDP shrunk. In reality, he said, investment, is up.

What does Statistics Canada say about that? The report that broke the news of the recession said, “Business capital investment fell 0.7% in the first quarter of 2026, the fifth consecutive quarterly decline.”

It is not true, Mr. Prime Minister, that investment is up. In fact, the only things that were up were government spending and consumption, meaning that Canadians had to spend more just to survive. The things one would want to be up, like the net exports, were down. We have a trade deficit. Investment was also down.

He went on to claim that, in fact, it was just a technical recession. In what sense is it technical? The textbook definition of a recession is two back-to-back quarters of negative growth. That definition is met.

Liberals then say, as the Prime Minister said today, that we cannot focus just on one thing. I agree. Let us focus on the other data points.

In the first three months of the year, 112,000 jobs were lost. Since the Prime Minister took office, on a net basis, there are 45,000 more Canadians unemployed. We have the second-highest unemployment in the G7, a third higher than in the United States. Of the last four quarters under the Prime Minister, the economy has shrunk in three of them. Business investment is down 0.7%. Over $20 billion of net investment has fled since he took office. Equifax reported that insolvency rates have increased to levels not seen since 2009, up 19% year over year, and 1.5 million Canadians have missed a debt payment in the first three months of this year alone, with mortgage delinquency rates up 32% year over year. Canada has the biggest household debt load of any country in the G7. The CEO of the Daily Bread Food Bank in Toronto said that one-tenth of Toronto is now eating at a food bank. That is the real cost.

This is not technical. Hunger in the bellies of Canadians who cannot pay their bills is not technical. Canadians need a reversal in the Liberal policies, and that is what we are fighting for today. Let us have a strong, affordable and safe Canada.

[Kevin Lamoureux, Liberal, Parliamentary Secretary to the Leader of the Government in the House of Commons]

Mr. Speaker, I have a great deal more confidence in the Bank of Canada than I have in the leader of the Conservative Party. The Bank of Canada has indicated that the Conservative Party might be a little off on this. Conservatives might be glad that Canada, from their point of view, is in a recession, but, in reality, it is one of a number of factors. GDP has to be taken into consideration. Even though they might be gleeful on the other side, we on this side of the House will continue to work to build a stronger, healthier Canada and economy.

Does the leader of the Conservative Party have anything positive to say about Canada and how Canada is going to lead in growth in different areas?

[Pierre Poilievre, Conservative, Battle River—Crowfoot, AB]

Mr. Speaker, the member asked two questions.

Do I have anything positive to say about Canada? I have plenty of positive things to say about Canada, particularly the resilience of the Canadian people who, because of their hardiness, are able to endure the punishment that the Liberal government continues to mete out.

Do I have anything to say about the growth that the government claims the economy is going to lead on? I cannot say anything about that because the government and the economy it leads are not leading the G7 in any metric, other than the most household debt, the most expensive housing and the fastest-increasing food costs. In all of those areas, the economy is leading under the Liberal government and, of course, the first economy to go into a recession. That is not the type of leadership we want for our economy.

[Xavier Barsalou-Duval, Bloc, Pierre-Boucher—Les Patriotes—Verchères, QC]

Mr. Speaker, my question is for my colleague, the Leader of the Opposition.

I have been fortunate to sit in Parliament for a little over 10 years. For a little over 10 years, I have had the opportunity to listen to his excellent speeches. They tend to be very good.

However, every time my colleague rises in the House, ever since I first had the opportunity to listen to his speeches, I get a sense that they always boil down to much the same thing. To hear him speak, anyone would think we are constantly on the verge of an apocalypse.

Obviously, I am not saying that the economic situation is positive; far from it. However, I wonder if he should perhaps change his approach; furthermore, in his criticism today, he said that the Liberal plan is bad for the economy.

However, if we look at the Liberal government's record over the past year, we see that it has implemented measures essentially proposed by the Conservative Party. He says himself that the Liberals spend their time stealing his ideas.

Is he telling us that Conservative ideas are partly responsible for this apocalypse?

[Pierre Poilievre, Conservative, Battle River—Crowfoot, AB]

Mr. Speaker, I would love to say that the Liberals have stolen our ideas. They have done so in words, but not in action. They have not put those ideas into practice.

Over the Liberals' 10 years in government, they have increased the cost of government, doubled the national debt, expanded the bureaucracy and public spending, and blocked the development of our natural resources.

In the last election, they promised to turn things around, but nothing has happened. It was nothing more than an illusion.

The Liberal Prime Minister has kept all the anti-development laws in place. He has doubled Justin Trudeau's deficit. He has increased the cost of the bureaucracy. The government now accounts for a larger share of the economy than at any time in the past 30 years. All the anti-development taxes are still in place.

I wish the Liberals would actually implement the ideas they steal from us, not just pay lip service to them.

[Warren Steinley, Conservative, Regina—Lewvan, SK]

Mr. Speaker, on Friday, it was announced Canada had entered a recession and it is no coincidence that shortly thereafter, Food Banks Canada brought out its poverty report. Perhaps Liberals will not believe what we are saying about their reckless policies that are harming Canadians. The Food Bank report gave Canada an overall grade of a D+, an F for employment rate and an F for food security. Right now, one in four or 25% of Canadians are food-insecure.

Can the leader talk about Conservative policies that will bring back a Canada that will work for all Canadians?

[Pierre Poilievre, Conservative, Battle River—Crowfoot, AB]

Yes, Mr. Speaker, this is the human cost of the Liberal recession. Canadians cannot afford to eat. In fact, yesterday's report demonstrated that about 25% of Canadians are food-insecure and 25% of food banks at some point last year actually ran out of food. Imagine being that single mother at the checkout, her bank account empties and when she tries to pay with her debit card, it is rejected. She looks at the lineup of people who all just saw her get rejected. She gets into her car humiliated, makes her way to the food bank and it is empty. What does she do now?

Liberals say that this is just a technical recession. I ask them to look that mother in the eye and say that her children's hunger is technical. There is nothing technical about it. There are real human costs for the Liberal government's failures, and if the Prime Minister cared at all about those costs and the people paying them, he would come into the House of Commons and answer a question about it, for once.

[Kelly McCauley, Conservative, Edmonton West, AB]

Mr. Speaker, I am very pleased to rise today on our motion.

Food Banks Canada had a stark warning, and this is a stark quote from its most recent report: “Something fundamental has shifted in Canada.” It goes on to further say that, in Canada, “a job is no longer enough to ensure a reliable pathway to stability.” One in four Canadians is facing food insecurity, and 20% of the 2.2 million lining up every month at food banks are employed. I am going to read again that line from the report: in Canada, “a job is no longer enough to ensure a reliable pathway to stability.” That is what over a decade of the Liberal government has inflicted upon Canada. Something has fundamentally changed in this country, and it has fundamentally changed for the worse because of the government.

In Edmonton alone, we have two separate food banks just serving veterans. Those who have served our country in the military, but also RCMP, have two separate food banks to serve them, just for them to get by. At the same time, we have the Prime Minister spending close to $200,000 for gourmet meals on his jet just for three trips, while the Liberals are spending $200 million for Liberal insiders for a concrete pad, a cement pad, in Nova Scotia.

Canada has entered recession territory. The Liberals will quibble and say that it is only a technical recession and really does not count, but the economy is shrinking: not just the last two quarters, but three of the last four quarters. We are the only G7 country with a shrinking economy. In fact, even basket cases like France and Italy do not have shrinking economies. We are in fact the only economy that has shrunk in the last four quarters in the G7. No one else has: not the U.S., not Germany, which continues on its path to net-zero economic suicide, and not Italy, without all the oil resources we have, but just us. Again, think of the old world, the G7, and all the issues they are having with the Ukraine war and being cut off from their natural gas resources, and yet somehow they have avoided a recession like ours.

This GDP issue reflects our stagnating standard of living and anemic productivity growth and highlights our weakness in business investments. According to the Fraser Institute, investment in plants, machinery equipment and IP has fallen 20% as a share of the economy in the last 10 years. I wonder what happened 10 years ago that would cause us to be on such a decline. Further, the last four years have seen this decline accelerate, matching about four years ago when the current Prime Minister started helping the government as a special economic adviser. What a coincidence, I know.

More sobering news is from the Bank of Canada monetary policy report. The member for Winnipeg North just previously was saying that the Liberals believe in the Bank of Canada and that the Bank of Canada has all the information, and he asked if we did not believe in the Bank of Canada. Well, I believe in the Bank of Canada monetary policy report, which actually shows that the government is misleading Canadians on growth. The Bank of Canada is predicting, next year, a 16% lower GDP growth than the government just did in its spring budget. The year after that, it is predicting a 13% lower growth. I ask the member for Winnipeg North whom he believes. Does he believe the Bank of Canada, as he just stated he does, or does he not now, when it is not convenient for him?

Even the Bank of Canada does not believe the government when it says that we are the fastest-growing economy in the G7. We are not.

Further, which is even more sobering, for 2026, of the anemic growth that we have under the Liberal government, the Bank of Canada is saying 75% is from added government spending. It is not from exporting oil, perhaps, and not from IP or investment, but from government spending. In 2027, 44% of the growth in the forecast is government spending. The year after, 25% of all the growth that the Bank of Canada is seeing in GDP is coming from government spending. This is not a way to grow out of the troubles we are in, by just simply borrowing more money and spending more money. Over the next five years, we are going to have almost $400 billion just in interest payments. What are we getting for it? We are not getting growth, like the one we see in the other countries. We are seeing a shrinking economy.

What do we do about this? Well, apart from joining Marty McFly and Doc Brown, getting into a DeLorean and going back to 2015 to ensure that Trudeau does not get elected, we can change the policies now. We can start undoing the Liberal policies that are wrecking the economy.

The Chamber of Commerce, just recently in a submission to the finance committee, said that the government needs to focus on competitiveness, and that we cannot compete globally because of a regulatory and red tape regime that is seen as cumbersome and anti-investment. We have well over 300,000 different rules and regulations, over 450 different acts, sometimes with thousands of regulations per act that are tying up and slowing our economic growth. What does the government do? Well, normal governments around the world would perhaps say, “Well, let us reduce red tape. Let us cut some of the red tape.”

We know defence procurement is a mess, but instead of actually addressing it, the government created another bureaucracy to work around its own rules that it created. For major projects, it is same thing, adding more bureaucracy to work around the other bureaucracy it created. Further, the government created another bureaucracy for red tape reduction, and 34 full-time equivalents were added to the bureaucracy to cut red tape.

We submitted an Order Paper question asking what the government managed to cut for regulations. With 34 full-time employees, we ended up with 29 regulations repealed. Here are some of them. They repealed UN regulations regarding Sierra Leone. Wow, that is going to grow the economy. They cut regulations on corded window covering products. They cut regulations regarding board elections for the Wheat Board, years after the Wheat Board went away. This is what 34 full-time employees managed to do over a period of a couple of years to cut red tape. They changed regulations on the Wheat Board elections for the board of directors of a Wheat Board that does not exist anymore.

How are we going to grow the economy if this is the best the government can do? We could get our energy products to market. We could build pipelines. We could get rid of the oil and gas emissions cap. The government will say that we do not have that anymore, but it has not come out and said that the cap is dead. We could get rid of the anti-Alberta tanker ban, Bill C-48. We have a private member's bill before this House right now to eliminate the tanker ban, and Liberals are opposing it. It is perfectly fine to have Saudi Arabia oil come up the St. Lawrence, but we cannot have Alberta oil off the north B.C. coast. We could get rid of the costly industrial carbon tax and the unconstitutional “no new pipelines” bill, Bill C-69.

If we want northern gateway to get built, which could add tens of billions of dollars of added growth to the economy, the government needs to get out of the way. It needs to kill Bill C-48, the anti-Alberta tanker ban. It needs to kill Bill C-69. It needs to get rid of the oil and gas emissions cap. We need to get rid of the government's determination to wreck our economy.

[Kevin Lamoureux, Liberal, Parliamentary Secretary to the Leader of the Government in the House of Commons]

Mr. Speaker, it has been just over one year since Canadians went to the polls and elected a new government. Some of the tangible actions we have seen in that one year include the fact that international exports beyond the United States have significantly increased. We can talk about rents, which have been going down. We can talk about the average household net worth, which has actually improved. We can talk about Canada's AAA credit rating and the fact that we have the best financial position of the G7 countries. We are still providing the types of programs that deal with the issue of affordability, like the groceries and essentials rebate, and providing assurances in regard to other social programs, like our child care program.

Would the member not agree that this is very much a holistic approach to building a stronger and healthier economy?

[Kelly McCauley, Conservative, Edmonton West, AB]

Mr. Speaker, I would like to thank my colleague from Winnipeg North for fiction hour in the House of Commons. What has the government delivered in over 10 years? It is not a new government. It is the same old, tired Liberal government. It has delivered rising unemployment, record debt, record deficit and record Canadians at food banks. The government has delivered an economy that requires us to have two food banks just to serve veterans in Edmonton. That is what this 10-year-old tired, corrupt Liberal government has delivered for Canadians.