Mr. Speaker, under the Liberal Prime Minister, Canada is the only G20 country to fall into a recession. Now the Liberals want Canadians arguing over labels: technical recession, marginal recession, full recession. Even the Prime Minister himself admitted a technical recession and a recession are the same thing.
Families are not sitting around the kitchen table debating definitions. They are looking at higher mortgage payments, grocery bills that keep climbing and paycheques that are not keeping up. Our economy has shrunk in three of the last four quarters. The Parliamentary Budget Officer says there is less than a 1% chance that this government meets its own fiscal anchor. Meanwhile, the Bank of Canada is warning that one in 10 Torontonians may not be able to renew their mortgages next year.
Canadians have worked hard, played by the rules and done everything asked of them. They should not be falling further behind because the government cannot control its spending. Canadians need a serious plan to restore growth, protect paycheques and bring hope back to the Canadian economy.