Bonnie Crombie

[Resumption of debate on Address in Reply, November 20th, 2008]

Mr. Speaker, I want to thank the voters of Mississauga--Streetsville for their support. I promised them that I would restore trust and I have already begun to do so.

The fundamentals of our economy are not strong. The global situation has only been exacerbated by the fiscal mismanagement and failed policies of the Conservative government. It burned through the $3 billion contingency fund. It squandered $13 billion. The Conservatives have proven that they are poor fiscal managers.

Two hundred thousand jobs have been lost in the manufacturing sector. There has been a loss of business and consumer confidence. Canada has the slowest growth rate in the G-8, the lowest productivity in 18 years and yet the government increased spending 13.8% in the past two years.

Today alone the TSX dropped 9%, 765 points. That is a five year low. It is the second largest drop in history. Oil is now below $50. Every commodity price is down.

Will the government pledge to protect seniors on fixed incomes, jobs in the manufacturing sector, working families and new Canadians? Will the Conservatives reverse their dangerous policies?

[Resumption of debate on Address in Reply, November 20th, 2008]

Mr. Speaker, I extend congratulations to my colleague, the hon. member for Don Valley East, on her comments today and on her re-election.

It seems that the government is blaming our economic downturn on global factors and is suggesting it began in the U.S.

Would she care to comment on how those policies have affected us, and does she have a solution that is distinctly our own?

[Address in Reply, November 19th, 2008]

I apologize, Mr. Speaker.

--noting they cut some rainy-day cushions and drove program spending up 13.8 per cent in their first two years.

The government has failed to anticipate the impact on working families, seniors on fixed incomes, and new Canadians. Instead, it has delivered a throne speech that is long on rhetoric and short on specifics.

Will the government finally admit it was ill prepared, and through its mismanagement, created a made in Canada, distinctly Conservative deficit? Will it commit to returning Canada to the fiscally prudent and socially responsible practices which have served us so well in the past?

[Address in Reply, November 19th, 2008]

Decorum, please.

While experts argued against its policies, the government failed to listen. Conservatives ignored the warnings: slowest growth in the G8; loss of 200,000 manufacturing jobs; lowest productivity in 18 years; loss of business and consumer confidence. And the government has made no effort to put money away for a rainy day.

An article in today's Globe and Mail states:

IHS Global Insight Canada managing director Dale Orr said Mr. Flaherty and the Conservatives should have taken better precautions against a deficit--

[Address in Reply, November 19th, 2008]

Mr. Speaker, first let me offer my congratulations to the member for Portage—Lisgar on her maiden speech.

The government now admits that despite the Conservative rhetoric on the campaign trail, Canada is back into a financial deficit. It did not have to be that way. No, we cannot blame it on the failed policies of George W. Bush. In three short years Conservatives led the highest spending government on record. They squandered a $12 billion surplus and they burned through the $3 billion contingency fund. The government had been warned of an economic slowdown--