44th Parl. 1st Sess.
April 8, 2022 10:00AM
- Apr/8/22 11:23:59 a.m.
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Mr. Speaker, I have to commend the Minister of Finance for her sense of humour, for being able to say the following yesterday with a straight face: “Canada has a proud tradition of fiscal responsibility. It is my duty to maintain it and I will”.
Does the Minister of Finance realize that her government has done absolutely nothing in the past seven years to control spending? Spending has doubled since this government came to power, and Canada's debt has doubled along with it, currently sitting at $1.2 trillion.
That is the reality. Our debt is costing us $145 million a day, and after four years with this government, it will have cost us $43 billion a year. Why does the government refuse to do what any responsible government should do and control its spending?
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- Apr/8/22 11:33:39 a.m.
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Mr. Speaker, the government asked young people to lock down for two years and they complied. Their reward is a housing market that they cannot buy into and being saddled with a ton of debt to keep them down. Debt is keeping housing unaffordable and the government keeps spending.
Why are millennials being shut out of the housing market for the Prime Minister's vanity projects?
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- Apr/8/22 11:35:37 a.m.
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Mr. Speaker, this budget adds about $1,400 in debt for every person in the country. Why is the answer to the government's problems always to add spending and debt? Canadians are waking up today without relief from higher food or gas prices, and to find out they owe $1,400 more per person.
Why do the Liberals want to saddle the future generation with this extra debt?
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- Apr/8/22 11:36:03 a.m.
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Mr. Speaker, the leader of the Conservative Party has already admitted that the extraordinary investments made over the course of the pandemic were necessary to protect Canadian families and Canadian workers. Our plan has worked. In fact, we have maintained the lowest net debt-to-GDP ratio in the G7, while growing the economy and recovering 115% of jobs lost due to COVID-19. Canada was able to do this because of our prudent fiscal management. It is now time to unwind the pandemic deficits and continue to grow our economy while reducing our debt-to-GDP ratio. This is what good fiscal managers do.
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- Apr/8/22 11:37:06 a.m.
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Mr. Speaker, before the pandemic, it took only two Conservative governments to accrue more than 70% of Canada's prepandemic debt. That is because their fiscal ideology is to cut taxes for the wealthy and cut services for everyone else. In stark contrast, our last Liberal government paid down our national debt significantly.
We have demonstrated that we can be good fiscal managers while investing in Canadians, growing the economy and continuing to fight poverty and climate change. Budget 2022 will lower our debt-to-GDP ratio and help build a Canada where no one is left behind.
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- Apr/8/22 11:49:09 a.m.
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Mr. Speaker, it is all talk and very little action. The goal for many young Canadians is home ownership. What was once considered a common occurrence for young Canadians is now completely out of reach for many. For months, the current government told young Canadians they were being listened to. This is clearly not the case. Instead it introduced bloated bureaucratic programs wrapped up in red tape.
Why is its only solution to give another $1,400 of debt per person and fail to get results?
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- Apr/8/22 11:51:12 a.m.
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Mr. Speaker, we are lowering the debt. Our net debt-to-GDP ratio is consistently declining, as evidenced by this budget. We continue to have the best fiscal balance sheet among countries right across the G7. I would remind my colleague, when she talks about growth, that she is actually downplaying the incredible growth Canadians are creating in our country. There was 6.7% growth in Q4. I would like the members opposite to acknowledge the importance of our incredible fiscal track. What my colleague is doing is denying—
Some hon. members: Oh, oh!
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