Mr. Speaker, I am pleased to rise on behalf of the constituents struggling to make ends meet.
I want to begin by congratulating the Parliamentary Secretary to the Minister of Finance for responding to my question without engaging in personal insults or cheap partisan attacks. This is a significant improvement over his last response, yet he declined to answer the actual question. Still, the response to my question was illuminating.
Given the Prime Minister's central pitch to voters was that he alone could save the Canadian economy, the news that economic growth is near zero is devastating to his brand. Canadians thought they were getting a technocratic central banker. Instead, we got an investment banker using taxpayers' pensions as leverage to catalyze a growing debt crisis.
The parliamentary secretary's answer reveals the dilemma the Liberals find themselves in. Unlike some of the more fanatical colleagues who describe the economy with unrealistic exuberance, the parliamentary secretary spoke about “signs of progress” and “building foundations”. A shrinking economy destroys the Prime Minister's brand. A booming economy destroys the justification for deficit spending. An anemic economy is just what the Liberals want. It was Justin Trudeau's justification for turning Canada back into a deficit country. It is this Prime Minister's justification for doubling Trudeau's deficit.
Unfortunately, as the Parliamentary Budget Officer made clear in June, there is just a 1% chance Canada's debt-to-GDP ratio will go down. This public debt is being used for the largest corporate welfare spending spree in Canadian history. This debt binge is happening at the exact same time investors are demanding higher interest rates for government debt.
The Liberals want us to ignore the slow growth, the job losses and the debt spiral. At the same time, they accuse us of ignoring the May jobs report. I looked at the jobs report, and it is not as rosy a picture as the Liberals would have us believe. The headline claims 88,000 jobs were created, yet Stats Canada hired 33,000 people to conduct the census in May, and 17,000 of the remaining jobs were in construction, which sounds great until you realize this is Canada, where we build more in the spring and summer and less in the winter.
When compared year over year, there has been no job growth in construction. We cannot say the same for retail. In May, 35,000 Canadians lost jobs in the retail sector. In fact, since May 2025, over 61,000 retail jobs have been lost. Despite what the Liberals would have us believe, Donald Trump cannot put a tariff on the mall.
The other big sector with job gains was in culture and recreation, because camps, resorts and other seasonal tourist businesses began hiring for the summer season. I know Liberals think they can control the weather with taxes, but they cannot claim credit when the sun shines. For 11 long years, the Liberals have been promising their deficit spending would turbocharge growth and investment. It has not.
Recently, the Prime Minister said that they are investing tremendous amounts of money in the country like we have never seen before. Oh, my apologies, that was a quote from President Trump. Here is the Prime Minister's quote: “We’ve secured new investment in the country of a size not seen, arguably, before.” Well, set aside the hyperbole and the Prime Minister's narcissism, Canadians can see the truth for themselves. Liberals love low growth. Only Conservatives are fighting for a strong economy.