Mr. Speaker, it is an honour to rise in the House today on behalf of the people of Long Range Mountains in Newfoundland and Labrador, some of the most industrious and self-reliant individuals, who are asking for fairness and economic stability, not just for themselves and this generation, but also for their children and grandchildren so they can thrive at home.
I rise today to speak in support of our Conservative opposition day motion, which addresses the cold, hard reality facing our nation. The Liberals have officially driven Canada into a recession, and the latest data shows that for everyday Canadians, it is only going to get worse.
The Liberal Prime Minister is the only leader in the G7 and the wider G20 to plunge his country into a recession, after driving the Canadian economy into decline in three of the last four quarters. The Liberals want to label this a technical recession, but there is nothing technical about an empty stomach or someone coming home from work and telling their kids they no longer have a job. Hard-working, everyday Canadians are being forced to pay the price. This means that, in communities across my province, families are making choices they never imagined they would have to make. They are putting groceries on credit cards. They are postponing starting a family, delaying retirement and wondering whether they can afford to keep the house they worked so hard to buy.
The Liberals love to blame global factors for Canada's economic misery. They point to international tariffs and to geopolitical conflict, but every single country in the G7 faces those exact same global headwinds, international tariffs and global challenges, yet none of them, not one, is in a recession, only Canada. Under this Prime Minister's watch, his inflationary spending, his layers of red tape and his antidevelopment laws, our economy has stalled and Canadian productivity has been choked out. Canada now officially holds the highest household debt in the G7, the worst housing costs in the G7 and the second-highest unemployment rate in the G7. This is not a sign of success, and Canadians are not doing well as a result.
Affordability has deteriorated so badly that working families are falling behind. What frustrates people back home is hearing Liberal ministers stand in the House and tell them that this is affordability, not loose slogans. They hear them say that government programs are working, that announcements are resonating and that Canadians are better off because of Liberal policies, but families back home are asking me a very simple question: If things are going so well, why are so many people struggling?
The Parliamentary Budget Officer reports that the likelihood of this costly Liberal government meeting its own fiscal anchor to reduce the deficit-to-GDP ratio is less than 1%. Worse yet, the Liberals are already borrowing way over their own budget. In their spring economic update, they claimed the deficit would be $65.3 billion this year, but the PBO predicts a deficit of $71.8 billion. Where does that leave the taxpayers? It leaves them buried under mountains of Liberal debt. Federal debt charges are projected to skyrocket by 46%. By 2030-31, 13.1¢ of every single dollar of federal revenue will go directly to pay the interest charges on this costly credit card Liberal government.
While everyday Canadians are being forced to tighten their belt and make sacrifices, the devastating impacts are evident. Consumer insolvencies across Canada have reached their highest levels since 2009. Newfoundland and Labrador continues to see rising insolvencies, and behind every insolvency is a family that has reached its breaking point. These are Canadians who worked hard, paid their bills and tried to get ahead, but they are falling behind because groceries cost more, fuel costs more, home heating oil costs more, housing costs more, rent costs more, and this has increased the pressure on household budgets in a way many families simply cannot absorb.
While everyday Canadians are struggling, the Prime Minister's luxury inflight catering costs reached nearly $195,000 for just three trips, including premium meals and expensive hospitality at taxpayers' expense. The Liberal environment minister took a recent trip to Brazil and burned through $467,000 on luxury accommodations and another $650,000 just to rent, design and operate a single promotional pavilion. That is over $1 million spent on a single overseas trip for Liberal elites. This is all occurring under a Prime Minister who recently stated in New York that “a country that cannot feed, fuel, or defend itself is not truly sovereign”, yet he has created a reality where millions of hard-working, everyday Canadians are relying on food banks while he dines on luxury catering in the clouds and his minister stays in luxury accommodations. We cannot run an economy on expensive Liberal bureaucrats and elite menus; we need real private sector growth.
Under the Liberal Prime Minister, we are in an entrepreneurial drought, with more small businesses closing than starting up. Business investment has dropped for five consecutive quarters. Capital investment fell by another 0.7% in the first quarter of this year alone, and over $20 billion in net investment has fled our economy since the Liberal Prime Minister took office.
When capital flees, productivity dies. Labour productivity has fallen in three of the four quarters, and this directly impacts our labour market. The PBO noted, “The labour market has softened in line with the broader slowdown.” In Newfoundland and Labrador, we have the highest provincial rate of unemployment in the entire country. In the first three months of this year, 1.5 million Canadians missed a debt payment, while mortgage delinquency rates climbed 32% year over year.
These numbers represent real human suffering. Consistently, I hear from people right across Long Range Mountains who are telling us heartbreaking stories. Clayton from Corner Brook reached out to our office. He is a senior and requires home care but is considering cancelling because, with the rising cost of heating, rent and food, he just cannot afford it anymore.
I consistently hear about young people leaving. For generations, Newfoundlanders and Labradorians have watched sons, daughters, brothers, sisters and friends leave home for opportunity elsewhere in Canada. We know the pain of saying goodbye at the airport. We know what it means to miss birthdays, anniversaries, Christmas dinners and family milestones because opportunity exists somewhere else. A recent study examining migration patterns across Canada found that Newfoundland and Labrador experienced the highest rate of net out-migration in the country, losing the equivalent of more than 10% of our population to other provinces. No province in Canada lost more people proportionally than Newfoundland and Labrador. We are the only province in Canada to experience a net migration loss to every other province in the country.
Among young adults aged 18 to 24, Newfoundland and Labrador experienced net losses equivalent to nearly our entire current population in that age group over the last three decades. When our young people believe they can build a better life somewhere else, they move. When the Liberals fail to create the conditions for growth, investment and opportunity, families make difficult choices, and this has been the heartbreaking reality in Newfoundland and Labrador, a province rich in natural resources and untapped potential and opportunity.
Squashed opportunity is not the only pressure. Grocery costs are up year over year, and 53% of employed Canadians report that food affordability has drastically worsened over the past year. More than one in three employed Canadians are now forced to use debt just to buy groceries. Some families are spending an unbelievable 120% of their total income on food and rent alone. Food bank demand nationwide has doubled since 2019, reaching a heartbreaking record of 2.2 million monthly visits. More than 137,000 Newfoundlanders and Labradorians live in food-insecure households. More than one-third of children in our province live in households struggling to consistently put food on the table. That is not a statistic that should exist in a country as prosperous as Canada.
We cannot borrow our way out of a Liberal debt crisis. We cannot tax our way into economic prosperity, and we certainly cannot spend our way out of a recession that was manufactured by out-of-touch Liberal spending in the first place.
For months, Conservatives have warned that this inflationary agenda would weaken growth, drive out business investment and leave working families to hold the bag and pay the bill. Today, the data has proven us right. The people of Long Range Mountains and all Canadians deserve an immediate turnaround. They deserve a Prime Minister who will tell them the truth and present a real plan to reverse these failed Liberal policies.
It is time to end the Liberal recession. It is time to cap costly Liberal spending, scrap the inflationary Liberal carbon tax, cut the red tape and unleash the potential of our natural resources and our workforce.
Conservatives understand the immense pressure that everyday Canadians are under, and we will continue to stand with them to rebuild hope, reward hard work, restore the dream of home ownership and empower the private sector to grow and thrive so Canadians can once again believe in the future of this great country.