Mr. Speaker, the sad reality is that Canada is in a recession.
While the Liberals refuse to acknowledge this and continue to play with words, Canadians are facing very real hardships. A total of 2.2 million Canadians, a third of whom are children, rely on food banks. Canada has the worst food inflation in the G7. Housing is no longer affordable, and young people are giving up on the dream of home ownership. The overall economy is not doing any better. Productivity is tanking, businesses are investing less, and this marks the fifth negative quarter. The Parliamentary Budget Officer says that the labour market has weakened and that businesses are postponing their investment plans because of increased uncertainty.
Banks are forecasting dismal growth of 0.8% according to Scotiabank and 0.5% according to BMO. That is the reality for all Canadians. Since the Prime Minister took office, we have had three negative quarters. Unfortunately, yes, Canada is in a recession. When will we see real results for all Canadians?