44th Parl. 1st Sess.
November 21, 2022 11:00AM
Madam Speaker, it is a pleasure to rise and take part in this conversation. I had the opportunity last week to engage in some of the questions and answers. It was interesting to see emotions rise a little on the Liberal side when I talked about the Trudeau legacy.
In our part of the world, when we talk about the Trudeau legacy, emotions rise as well. Of course I was talking about the Pierre Trudeau legacy, but confusion arose because, when we are talking about incompetent Liberal governments, it is hard to distinguish one from the other. I think that was the difficulty on the Liberal side.
When I made those comments, it was interesting because the Liberal MP to whom I was asking a question actually answered or responded. There are not a lot of answers coming from over there these days. The member responded, clearly reading from the Prime Minister's Office talking points.
I will read a couple of quotes from her answer. She said that Canada is the third-largest triple economy in the world. I am not sure exactly what that means. She referred to the Moody; she said that the Moody has reaffirmed, just after the statement, the AAA rating deficit.
Certainly the government's recent deficits deserve a AAA rating. I think she might have been misreading the PMO talking points she had. However, it is an important point.
Credit ratings are AAA until the time that they are not, and when they are not, governments and countries get in trouble. We saw that with the Trudeau legacy. It is important to talk a little about that legacy, as it seems that many members of the Liberal Party today have virtually no understanding, no recollection, of what happened during those years.
During the 15 years that Pierre Trudeau was the prime minister of this country, Canada ran deficits in 14 of those 15 years. Coming into that time frame, there was almost no debt in Canada, very low debt. The Trudeau government ran deficits in 14 out of 15 years.
Then we came to 1984 and a Conservative government. The Liberals like to point out that the Mulroney deficits were, at the time, the highest in Canadian history, but what they do not point out is that because of rising interest rates, because of inflation similar to what we are seeing right now, the deficits the Mulroney government ran were basically interest on the Trudeau government debt, the debt that Trudeau ran up in 14 of the 15 years he was here.
If we fast-forward about 15 years, we get to another Liberal government, and that is where the lesson on credit ratings comes in. We get to the Chrétien-Martin government in the mid to late 1990s, and suddenly Canada's credit rating was lowered. The government was faced with a really difficult decision. Of course at the time, it had to slash $35 billion from transfers to the provinces for things like health care, social services and education, $35 billion slashed because the Trudeau government had run up deficits or debt in 14 out of its 15 years over time.
This is exactly the situation we are facing right now. If I were to talk about the Trudeau legacy of an inflation crisis, a housing crisis, an energy crisis, there would be lots of confusion. Lots of members on the other side would stand up and say, “Quit talking about us.” I would be talking about the Pierre Trudeau government when I am talking about the Trudeau legacy; however, it is almost indistinguishable from the Liberal government we have right now.
Let us take a look at the interest right now on our debt. We are going to spend almost $20 billion more in interest alone in 2023-24 than we were spending in 2021-22, just two years earlier. It is almost $20 billion more. We are going to be spending almost as much on interest as we spend on the Canada health transfer, and we all know the challenges the health system is having in Canada. We cannot afford to be spending that much on interest, but we are going to be because of decisions the government has taken over the past few years.
We stand up in question period day after day and talk about the fiscal crisis facing the country. What we get in terms of responses is absolutely meaningless language, mind-numbing references to having Canadians' backs as Liberals talk about spending money as though the current Prime Minister is writing cheques from his own personal bank account. However, that is not the case. That money all comes from Canadians. It does not just come from Canadians now; it is actually coming from Canadians in the future. There is a mind-numbing reference to that.
There is a reference to tax refunds and tax rebates, which is basically that the government is collecting tax and then it is blessing Canadians by giving back to them their own tax dollars that the Liberals have spent.
There are references and a lot of criticism from the other side. When we talk about the amount of spending the government is doing and the lack of fiscal responsibility, there is a lot of criticism from the other side. The Liberals will list off yet another new spend the government is doing and then demand why Conservatives cannot support it.
I will tell them why Conservatives cannot support that. It is because, right now, in 2022, if we look back seven years and talk to our constituents, and I am sure those on the other side who were here in 2015 talk to their constituents as well, it is very rare, almost non-existent, to have a conversation with a constituent who says, “My life is better off today than it was in 2015 from a financial standpoint.”
We are facing crisis after crisis, and when we take a look at program expenditures from the government, in 2022-23, post-COVID, which is our hope, at least post-COVID massive spending, we are going to be looking at 72% more in program expenditures than the 2014-15 budget put forward by our Conservative government, a budget in which we balanced the finances of the country. Now we are spending 70% more and we are obtaining fewer results. Conservatives are just not going to give a blank cheque to this government to spend even more with the results it has gotten over time.
I am really looking forward to hearing questions from the other side. It is questions and comments, so maybe folks might decide to comment on how they have come to a realization. Maybe they will make a commitment to go back and take a look at the record of the Pierre Trudeau government of the 1970s and 1980s. Maybe they will go back and ask their government, with all of the spending they are doing and the fiscal situation we are in right now, how they cannot even find the $4.5 billion the Liberals promised in their election campaign for a Canada mental health transfer. Where is that $4.5 billion? With all of this spending, the Liberals cannot even find the money to pay for things they promised in their election platform a year ago.
I will conclude with that. I really look forward to hearing some thoughtful questions from the government side, hopefully.
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Madam Speaker, I love the opportunity to stand up and talk about the Harper legacy, if we want to talk about that.
First of all, we cut virtually every tax Canadians could pay. I think over 60 different taxes were cut under our government. We dealt with a global economic meltdown in a world-leading way—
Some hon. members: Oh, oh!
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Madam Speaker, I get as equally excited as they do talking about the Harper record.
When the world dealt with the global economic meltdown, we laid out a seven-year plan, we followed that plan to a tee, and by 2015, we balanced the budget. In contrast, as this government faced a significant global challenge, what it did was bring out the chequebook and responded by just cutting cheques with no eye toward and no signal in any way that we would ever talk about getting back to balance. In fact, the Prime Minister talked about it being an opportunity, and the Liberals have experimented with all sorts of new things that they never ran on as we went through that.
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Madam Speaker, I have a couple of comments. First of all, during the Harper era, we increased health transfers by about 6% per year for almost every year that we were in government.
In the plan that our leader has laid out, he has simply said that, after a 70% increase in program spending over the last eight years, and an endless succession of spending plans and massive deficits, we would have a sensible plan that, for every dollar spent, we would find a dollar of savings.
We did that when we were in government. I sat on a cabinet committee charged with looking at ways we could find efficiencies so we could get back to balance in 2015, and that is a sensible way for a government to approach fiscal planning.
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Madam Speaker, I am not familiar with the specific study the member is talking about. I would be glad to talk to him afterward.
I would reiterate that, during our time in government, we cut virtually every tax that Canadians pay, and I think that is a plan that is prudent for this country, as we take a look at responsible spending moving forward.
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