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Member of Parliament

Bernard Généreux

  • Member of Parliament
  • Member of Parliament
  • Conservative
  • Montmagny—L'Islet—Kamouraska—Rivière-du-Loup
  • Quebec
  • Voting Attendance: 68%
  • Expenses Last Quarter: $143,434.52

  • Government Page
Context: House Hansard - 50 - Mar/31/22
Mr. Bernard Généreux (Montmagny—L'Islet—Kamouraska—Rivière-du-Loup, CPC)
  • Mar/31/22 5:25:51 p.m.
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Madam Speaker, I am very happy to have five minutes to talk about a very important issue: this government's approach to spending. It is 2022, but we need to look back in time a little. Back in 2015, the sunny ways era, this government made a campaign promise to run three small $10‑billion deficits and said that the budget would then balance itself. Surprise, surprise, in 2019, the deficit was over $80 billion. History has made it very clear that budgets do not balance themselves. Quite the contrary. That has been this Liberal government's track record ever since. With the arrival of COVID‑19, it has added over $600 billion to our existing debt. Our debt now represents approximately 47% of our gross domestic product, our GDP. When the Liberal government took office back in the 1980s, it was about 25% or 28%. This is an extremely important matter. The budget will be tabled next week, on April 7. By the way, that is a Thursday. The following day, April 8, is a Friday and the last sitting day before members are away for two weeks. I remember the years when the Liberals accused the Conservative government of disrespecting the House of Commons. Today, I believe it is the Liberals who are disrespecting this chamber with their decision to present a budget before a Friday, on the eve of a break that we will spend in our ridings. Of course, I am going to come back to the GDP. We have a debt-to-GDP ratio of 47%, and I am wondering how much more the Liberals will add to the deficit in the coming years. The two words “balanced budget” are not part of the Liberals' vocabulary. That is absolutely unconscionable and unacceptable. In a country such as ours, a balanced budget is extremely important. I used to be the mayor of La Pocatière, and in Quebec, we were required by law to balance our budget. I do not see why this could not apply to a federal government that should be mindful of its spending. The problem with this government is that it spends money hand over fist, without considering the medium-term effects and especially not the long-term effects. Interest rates are going to increase, and in fact, it has already started. The Bank of Canada predicts that interest rates will increase to at least 1.5%, maybe 2%, within a year. We can imagine what impact that will have on Canadian households that have gone into debt because of the cost of living and because inflation is at 5.7%, nearly three times the Bank of Canada target of 2%. House prices keep going up and have doubled in the span of 10 years in Canada. For last year alone, that represents 30%. Let us not forget the price of gas. When I bought my car in 2009, it cost me $32 to fill up the tank. Last week, a full tank cost me $120, a fourfold increase in the span of 11 years. All these things end up having an adverse effect on people's quality of life, especially for the most vulnerable, whose expenses far outweigh their income. I will stop there because I could go on for hours. I often have people in my riding call our offices to tell us about the trouble they are in because of this government.
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