Madam Speaker, under the Liberal Prime Minister, Canada is the only G20 country in a recession. This was reported last Friday, based on Statistics Canada's negative growth data.
Then, yesterday, the Parliamentary Budget Officer reported that there is only a 1% chance that the Liberal government's fiscal anchor will hold. The PBO also said that the Liberals are borrowing $72 billion this year, not $65 billion as they budgeted. Yesterday, the Montreal Economic Institute said that the deficit is on track to “hit $117 billion by 2035”, even if they do not add any new spending programs. Scotiabank and the Bank of Montreal both released dismal economic growth projections. Stats Canada also reported labour productivity is falling.
The Prime Minister promised fiscal restraint. He promised competent management. He promised Canadians that he was the man for this moment of crisis, but under his leadership, Canada is in a Liberal recession. His budgets have no credibility, and it is Canadians who have to pay for it.