The House resumed consideration of the motion that Bill , be read the second time and referred to a committee, and of the amendment.
:
Mr. Speaker, it is always an honour to rise in the chamber to fight for the great residents of Oxford County.
There was a promise in this country that if someone worked hard and played by the rules, they could achieve anything. People made sacrifices, but they knew those sacrifices would one day pay off. They knew that if they worked hard and sacrificed with time away from their families, they could retire in peace, build a beautiful life and pass something on to the next generation. Every generation would be better than the one previous.
However, what we have seen in the last 10 years from the Liberal government is fiscal carnage and fiscal irresponsibility. The last Liberal prime minister literally doubled the national debt. The new guy came in during the last election, just eight months ago, and he promised Canadians he would be different. He promised Canadians he was the man with a plan. He has banking experience, but we are looking at his banking results right now, and we see that he is cooking the books.
The budget that the Liberal government presented is going to spend a record amount of Canadian taxpayers' hard-earned money. The Liberals used slogans and said they were going to spend less and invest more, but they are actually spending record amounts, and Canadians are getting so much more of less for all the money they are spending. They said that the budget was going to be generational, but it is generational debt, which Canadians are going to struggle to pay.
The Liberals' budget is putting an extra cost of $5,400 on every Canadian family. They cannot afford that. The Parliamentary Budget Officer, an independent officer whom the Liberals are now trying to fire, is also raising the alarm bells, saying that there are no fiscal anchors. The numbers on the Liberals' spreadsheet are just banker accounting to hide the real numbers in the deficit.
Oxford County is a strong community, but even there we are starting to see cracks in the foundation. There are lots of great charities that do amazing work. Just last week, Operation Sharing, which is one of the largest supports in Woodstock, put out a Facebook post showing the empty shelves at its food bank. The shelves are empty because demand has skyrocketed, not just from people who are on the streets but also from Canadians who are now considered the working poor. These are people who work extremely hard, including those who work double shifts, but who are struggling to get by because of the Liberals' fiscal irresponsibility.
There are stories from my riding I want to share with the House. The Liberals may say that this is all made up, but it is not. Their actions are having real consequences in the lives of Canadians. Nicole is a hard-working mother who works two jobs, 70 hours a week, and barely sees her autistic child. She has $1,500 coming in every two weeks. Her rent costs $2,500, and she is losing her home despite being in what is called the middle class. She said to me that she is now part of the working poor.
There is Shane, a trucker who has been on the road for 28 years. The tariffs, the trade wars, the industrial carbon tax and the cost of living crisis have all forced him to sell his personal belongings just to survive, not to live a luxurious lifestyle. Truckers sacrifice so much. They spend days on the road away from their family, moving our goods and making sure our supply chain is intact. They are sacrificing, yet they are barely moving up in life.
Denise, an auto worker from my riding, was just laid off permanently right before Christmas. She describes the plant closure as a gut punch.
A week and a half ago, we had Remembrance Day ceremonies in our ridings, and many members attended. I was at a Legion lunch after a ceremony, and one of the veterans, Connie, asked me if I could drop her off at her home, so she jumped in. As we were driving, she shared that her story is like that of many other seniors: She is struggling to pay rent, and for the first time, this month, she does not know how she will make up the difference. Our veterans are struggling as well.
Oxford County's industry and community are looking at truckers and suppliers who are losing their jobs because of plant closures and tariff impacts through Toyota, Vuteq and others. They are now all in jeopardy. These are real-life stories; they are not just numbers.
When we have two and a half million food bank visits in a single month, that does not show a strong, vibrant country. That does not show that the Liberals' plan is working. They often talk about the food program for kids. A sign of a healthy country and democracy is when parents, families and workers can feed their own children, save money and not rely on governments. For the Liberals, it is all about control and taking away power from our citizens.
This budget did absolutely nothing to help relieve the anxiety and tension that Canadians not only in my riding but across the country are facing. They looked at this budget and wanted something. Seniors wanted something, and youth wanted to know that one day their sacrifice would pay off, but this budget has absolutely nothing to help them get by every single day.
This came from the guy who said he was the man with the plan. He promised this stuff. He made these big promises in the campaign, and now Canadians are learning they are having buyer's remorse. They know that those were just empty words to win over their trust.
It does not have to be this way. The Conservatives voted against this budget because we did not see any real relief for Canadians, but there is a better path forward where we unleash Canada's advantage and look to develop our natural resources. We can be one of the richest countries in the world if we get our energy moving to the rest of the world. We can cut taxes for hard-working Canadians and for businesses so they can innovate, take risks and help create jobs in our country. We can cut the red tape.
Under the Liberals' watch, red tape has skyrocketed, strangling any growth in our country. We have seen investment going down south and record numbers of folks moving out of the country because the Canadian promise that I spoke about earlier is no longer there.
There is a better path forward: a Conservative plan where we unleash Canada's natural resources, cut taxes and stand up for families. Every family could provide for themselves, and people's sacrifices would actually mean something. If they spent time away from their kids, they would know they could provide for their kids' sports games or soccer during the summer. It would be a country where it would not matter where people come from, what language they speak or what industry they work in, a united country that is successful.
I know that Canadians are some of the hardest-working people in the world, including our auto workers, farmers, machinists, servers and those in hospitality. When Canadians get down to business, everything is possible. The Liberals just have to get out of the way.
:
Mr. Speaker, it is an honour to rise today in support of budget 2025. We are building Canada strong. This is a plan that would protect our communities, empower Canadians with better careers and make life more affordable. We are creating an economy by Canadians for Canadians.
[Translation]
Our government is cutting spending, building more and honouring our commitments, because that is how we are investing in Canada's future. Our government is focused on strengthening Canada's economic resilience. Today, however, I want to talk about a different kind of resilience, one that keeps our communities safe and ready to take on the challenges of a changing world.
[English]
As we all know, the nature of emergencies is changing. Extreme weather events are more frequent and more severe. Our government recognizes that our work does not stop once the flames are out or the flood waters recede. Emergency management continues long after any disaster occurs. It also begins long before any disaster happens, with smart planning and investments.
Emergency management and community resilience are a priority for this government. That is why budget 2025 contains several proposals that will further enhance our country's emergency preparedness and response.
[Translation]
The national public alerting system saves lives. It warns the public about natural disasters, which saves precious time and plays a key role. It also warns about child abductions through Amber alerts and helps keep children safe.
[English]
The budget proposes an investment of over $55.4 million over four years, $13.4 million a year on a continual basis, to renew the national public alerting system. This investment ensures that this critical tool remains active in keeping Canadians safe.
An updated alert system responds to recommendations from the Mass Casualty Commission, which examined the 2020 Nova Scotia mass shooting. It recommended transformative change to better prevent and respond to critical incidents and mass casualty events in the future, to help make Canadian communities safer. The renewal of the national public alerting system will ensure Canadians continue to receive amber alerts and warnings of imminent natural disasters, extreme weather events and security threats so they can take action to protect themselves and their communities.
[Translation]
The year is drawing to a close. The 2025 wildfire season has been the second-worst in Canadian history. One thing has become clear: The impacts of wildfires are growing and we need to be better prepared for them. Our government responded to 17 requests for assistance throughout this wildfire season. That is a significant number.
Although the active season is over, some regions are still fighting forest fires.
[English]
Here are some numbers. There were more than 6,000 wildfires in nearly every province and territory, impacting communities across the country and burning over 8.3 million hectares. Since April, the heightened risk and impacts have forced evacuations of more than 85,000 people, including over 45,000 people from 73 first nations communities.
These numbers represent the lived experience of thousands of people, including families forced to leave their home, communities rallying together and responders working tirelessly to protect lives and property. I want to express my deep appreciation and gratitude to the first responders, volunteers and local leaders who work tirelessly and demonstrate immense bravery to help keep Canadians safe.
While provinces and territories manage on-the-ground firefighting, the increasing scale and frequency of wildfires have made this a national issue that deserves a national response. To boost Canada's aerial firefighting capacity, budget 2025 will provide $257.6 million to lease water bombers. This will make the federal government an even stronger partner in emergency response and builds on our other accomplishments to date.
One of our pivotal accomplishments has been the modernization of our financial assistance mechanisms. We recognize that recovery costs from large-scale disasters are a substantial burden on provinces and territories, and that is why we revamped the disaster financial assistance arrangements.
[Translation]
In April, we launched a modernized program designed not only to accelerate and improve funding, but also to encourage proactive risk-reduction efforts across all levels of government to build back better.
[English]
Collaboration has been a cornerstone of our success. Through the humanitarian workforce program, we have funded and built capacity within non-governmental organizations like the Canadian Red Cross, which enables them to deploy resources quickly in response to large-scale emergencies. This civilian response capacity reduces the strain on the Canadian Armed Forces and allows for more tailored community-based responses.
I am particularly excited that budget 2025 creates a youth climate corps that will provide paid skills training for young Canadians. They will be trained to quickly respond to climate emergencies, support recovery and strengthen resilience in communities across the country. This initiative will support reducing youth unemployment, will increase innovation and will strengthen adaptation and mitigation projects.
With the investments we are making in budget 2025, we will be able to build further on these efforts to make a real difference in Canadians' lives. When a wildfire rages through a town, the cost is not just the price of the fire trucks and the water bombers. It is the cost of rebuilding homes and businesses that took generations to build. It is the psychological toll on families that lose their cherished memories and their sense of security. It is the billions in insured and uninsured damages that put immense strain on our economy and our social safety net.
[Translation]
Every dollar we choose not to spend today on climate change mitigation, climate change adaptation and infrastructure resilience will result in exponential recovery costs tomorrow. This is not a matter of political ideology; it is a matter of financial responsibility and public safety.
[English]
The path ahead requires bold action and investment, yes, but let us be clear that it is an investment in the safety of our children to strengthen our economy and the enduring success of our country.
I know many of my hon. colleagues across the House, from all parties, have discussed the impact of climate change in their communities. In fact, they have called on the government to step up capacity and play a larger role in emergency management. With this budget, that is exactly what we are doing. Budget 2025 is our plan to take control and build the future we want for ourselves, as a people and as a country. It is our plan to build Canada strong.
:
Mr. Speaker, it is an honour to rise in the House to speak on behalf of the good people of Medicine Hat—Cardston—Warner. Today it is to discuss budget 2025.
This fall, before the budget was tabled, my office sent out a survey across my riding to hear directly from constituents about their priorities and expectations for the 2025 budget. An overwhelming 76% of respondents listed the cost of living as their top concern, and nearly 80% of business owners said rising costs are hurting their operations. Of the respondents, 85% said that they are concerned about their financial future, and 88% said they do not believe that Canada's economic situation will improve in the near future.
Conservatives have heard these concerns echoed by families, individuals and businesses across the country, which is why, before the budget was tabled, we presented the with a common-sense plan that laid out our expectations for an affordable budget. In our pre-budget meetings, Conservatives demanded the Liberals include measures in their budget to address the cost of living crisis by scrapping hidden taxes on groceries and gas, cutting taxes on work and homebuilding, and ending the reckless deficits that fuel inflation.
Sadly, the November 4 budget missed that mark. It would fail to provide any meaningful relief for Canadians struggling to make ends meet. Budget 2025 would add nearly $80 billion to our national debt this year alone, the highest amount in Canadian history outside of COVID, all the while keeping Liberal taxes on groceries, work, energy and homebuilding. This budget would add $10 million to our debt every hour, and the Liberals intend to add another $321 billion to Canada's debt over the next five years.
What many Canadians may not know is that, as a direct result of the Liberal reckless spending, our national debt is now at $1.35 trillion. This means that every Canadian, infant to senior, owes $33,000 as their share of Canada's federal debt, and as our debt rises, so too does the interest burden on that debt. Budget 2025 revealed that $55.6 billion will be required to debt service or interest charges this fiscal year alone. What this unbelievable amount really means is that the federal government is spending more on annual debt interest costs than it is on federal health transfers to the provinces or than is collected in GST revenues.
This level of spending is not just reckless; it is dangerous and puts the future of our nation at risk. It is not just Conservatives who are concerned about this reckless spending. Experts from across the country have spoken out against this record-breaking Liberal deficit. Fitch Ratings, one of Canada's top credit rating agencies, warned that rising fiscal spending and debt burden have weakened the country's credit profile, putting Canada's AAA credit rating at risk.
Even more shocking was the report released by the Parliamentary Budget Officer, Parliament's neutral, non-partisan official responsible for providing economic and fiscal analysis to parliamentarians and Canadians. The report found that Canada's traditional fiscal anchor, the debt-to-GDP ratio, “is no longer projected to be on a declining path”. This long-standing fiscal anchor is important not only for fiscal sustainability but also for preserving Canada's AAA credit rating.
This fall, to avoid accountability, the Liberals quietly replaced Canada's long-standing debt-to-GDP fiscal anchor with a new one, maintaining not a declining debt-to-GDP, but rather a deficit-to-GDP, ratio. This one-word change effectively dismantled the fiscal anchor that has existed for more than 30 years in a process that was certainly far from transparent.
Despite changing the goalposts, the PBO's report found that “it is unlikely that the Government’s declining deficit-to-GDP fiscal anchor will be respected.” It is disappointing, though not surprising, that the Liberals have resorted to accounting tricks to create confusion instead of working to get their deficit under control and stop their reckless spending.
On top of these shifting targets, the Liberals are trying to distract from their record-breaking deficit by differentiating between operating and capital spending, despite the bottom line of Canada's debt remaining unchanged. Their fiscal anchor of balancing the operating budget by 2028 gives the illusion of fiscal stability while allowing the government to rack up huge deficit spending on the capital side of the books.
In his report, the PBO found the Liberals' definition of capital investment to be “overly expansive”, going way beyond the internationally accepted definition adopted in other countries. Using a more accepted definition, the PBO found $94 billion in spending misclassified as capital and said, “based on our definition, the operating balance in Budget 2025 would remain in a deficit position”. This report by the impartial budget watchdog lays out a clear fiscal outlook for Canadians. Not a single fiscal anchor is likely to be met, and these dangerous deficits will continue to drive up the cost of essentials and make life even more unaffordable.
In light of this analysis, the Liberals are now trying to get rid of this PBO, looking for a new officer who has “tact and discretion”. The Liberals have only themselves to blame for Canada's fiscal outlook, their poor fiscal outlook, yet instead of bringing down the deficit, they are attempting to silence those who hold them accountable. While typical of the government's record of avoiding accountability and transparency, it is nonetheless completely unacceptable. Despite these accounting tricks, the Liberals cannot hide from the fact that every dollar they spend comes out of the pockets of hard-working Canadians, causing higher prices, lower paycheques and bigger bills.
In addition to massively increasing Canada's debt, budget 2025 fails to address the housing crisis so many Canadians are facing. Since the Liberals took office, housing prices have risen 32% faster than incomes in this country, turning Canada into the most unaffordable housing market in the G7. Despite the 's promise to build 500,000 homes annually at speeds not seen for generations, his own agency confirmed that new home construction dropped 17% this past October alone, falling to less than half of his target. The president of the Building Industry and Land Development Association revealed the Liberals' misleading claims in the budget.
He reported:
This budget relies on backward-looking data that provides false reassurances that Canada’s housing sector is prospering and that affordability is improving. But these are stale statistics. The latest figures show that new home sales have evaporated across all housing types in every major city across Canada – and a hundred thousand jobs are at risk.
It is not just industry leaders who are concerned about the Liberal housing plan; the Liberal member for , the 's former minister of housing, said that the housing measures in budget 2025 are, unfortunately, very “unlikely to move the needle on development”. To use his own phrasing, budget 2025 “falls well short” of addressing the Liberal housing promises and “does not live up to its promise of generational investments.” If the Liberals want to get serious about restoring housing affordability, they should get out of the way and scrap the red tape and taxes that make it impossible to build.
The promise of Canada has always been that every person, no matter where they are from, can work hard and build a life with a stable job, an affordable home and a strong future in the freest country on earth. Unfortunately, after 10 years of Liberal mismanagement, that promise has become increasingly out of reach. When the Liberals took office in 2015, Canada ranked number nine on the global quality of life index. After 10 years of reckless Liberal spending and mismanagement, Canada has fallen to 27th place, the largest drop of any of the top 30 countries.
Therefore, on behalf of the Canadians who can no longer afford to eat, heat or house themselves because of Liberal inflation, Conservatives do not support any aspect of this costly budget. We will continue to put forward amendments to improve Canada's quality of life by cutting taxes on groceries, work, energy and homebuilding. We will fight to restore the promise of Canada. My hope is that all parties in the House will work with us to deliver a positive, hopeful and affordable future.
:
Mr. Speaker, I rise today to speak in support of Bill , the budget implementation act.
The legislation is more than a collection of policies and tax changes; it is a blueprint for building a stronger, more resilient Canada at a time when we face major global and economic challenges.
For decades, our prosperity has relied on stable international trade rules and open markets. However, today, the rules-based system and long-time trade relationships, including with our closest partner, the United States, are being disrupted. Canadian firms are facing new barriers. Supply chains are under pressure. Jobs and livelihoods depend on our ability to adapt.
This means that Canada must build a bigger, more innovative economy here at home, faster than ever before. We must diversify our markets, mobilize investment and unleash the full potential of Canadian workers and businesses.
Bill moves us decisively in that direction. It would grow our economy, build homes people can afford, make life more affordable and protect the environment while opening the door to a new generation of clean economic growth.
Budget 2025 is unapologetically an investment budget. We are making generational investments in infrastructure, clean technology, housing and the skills Canadians need to thrive. We must do so while maintaining higher environmental standards.
The legislation helps unlock the goal of catalyzing $1 trillion of investment over five years from provinces, municipalities, indigenous partners and the private sector. We are attracting capital by creating certainty, providing incentives and fast-tracking the infrastructure that will power our economy for decades to come. We are doing it responsibly.
Canada enters this moment with the strongest credit rating in the world, the lowest long-term interest rates in the G7 and the lowest net debt-to-GDP ratio of any major economy. International experts, including from the IMF, have said that Canada is pursuing strategic progrowth investment, and they project that we will have the second-strongest economic growth in the G7 in 2026.
In a changing world, we cannot rely on any single market. That is why the government is launching a trade diversification strategy that will double Canadian exports beyond the U.S. within a decade. Bill supports that goal by aligning our tax system with global competitiveness, boosting innovation and giving businesses the tools they need to grow and survive. The bill would support small- and medium-sized businesses, the backbone of our economy. This is an economy built by Canadians for Canadians.
Budget 2025 delivers the support our communities have been asking for through the new build communities strong fund, a $51 billion investment in local infrastructure over the next decade. This fund will help municipalities build the roads, water systems, community centres and, importantly, the health care facilities that growing communities desperately need.
Within this fund is a dedicated health infrastructure fund, providing $5 billion over three years to upgrade and expand hospitals and urgent care services. In Scarborough Centre—Don Valley East, residents rely on nearby hospital systems, such as the Scarborough Health Network and the Toronto East Health Network. These systems often depend on extensive community fundraising just to modernize the emergency departments or to replace aging equipment. That model is not sustainable on its own. This fund will help ensure frontline care is not dependent on charity but backed by strong federal partnership.
We cannot build a strong economy without building homes people can afford. Housing is not just a social need; it is an economic necessity. Businesses will not invest if workers cannot live near where their jobs are. I have spoken to many families in my riding of Scarborough Centre—Don Valley East for whom home ownership seems to be a dream that is increasingly out of reach and for whom finding sustainable and affordable rental housing is difficult, if not impossible.
Bill would tackle this head-on. It would provide an accelerated capital cost allowance for purpose-built rentals, would make new investments through Build Canada Homes and would extend the enhanced GST rental rebate to co-operative housing and student residences. These measures would help get shovels in the ground faster.
Through budget 2025 and this legislation, we would create pathways for major housing investments and unlock municipal partnerships. We would support agricultural co-operatives, indigenous communities, students and working families.
We know Canadians are feeling squeezed. Bill would bring relief. It would extend eligibility for charitable donations, would expand the disability supports deduction and would exempt the Canada disability benefit from taxable income. Many of my constituents have asked for this and have told me how important it is that we strengthen and safeguard the Canada disability benefit from provincial clawbacks. Bill C-15 would also introduce a temporary tax credit for individuals whose non-refundable tax credits exceed the first income bracket, putting more money back in the pockets of lower- and middle-income Canadians.
Affordability is not just about taxes; it is also about care. That is why I will push to ensure that our work does not stop with respect to child care. We must continue to expand access, improve wages and workplace standards in this sector, and ensure that families in every region benefit from $10-a-day child care.
We must also protect and expand pharmacare. Canadians should never have to choose between groceries and prescriptions. Bill would lay the groundwork to ensure pharmaceutical manufacturing here at home in Canada and ensure better access to essential medicines. I will fight to make sure this momentum continues because health care must include pharmacare.
Climate action is not just a moral duty; it is an economic strategy. Countries that lead the clean economy will lead the 21st century. Canada already has an 85% clean electricity grid and some of the world's richest critical mineral deposits. The clean economy should be Canada's economic advantage, and this bill would help to make that vision a reality.
We would extend investment tax credits for clean technology until 2035, support clean electricity generation from waste biomass and create incentives for polymetallic manufacturing. This would power a clean economy while cutting emissions and protecting our environment. We must do this responsibly. We must build, but build right.
That is why I will continue to insist that every major project meets the highest environmental standards. We can and must have economic growth and environmental protection together. We would accelerate nation-building infrastructure. The high-speed rail network act would move forward faster rail transportation between Quebec and Ontario under full Impact Assessment Act oversight, ensuring transparency, consultation and strong environmental protection.
This legislation is the foundation for a new era of nation building. It supports child care and pharmacare. It would build clean-energy projects. It would fast-track critical infrastructure, and it would protect Canadians from consumer fraud, environmental risk and financial instability. Bill would also establish the consumer-driven banking act, giving Canadians secure control over their own financial data and making our banks more competitive and responsive to consumer needs.
Across this bill, the message is clear: Canada will depend less on others and build more at home. We will build projects faster, train workers better, attract investment earlier and open more markets for Canadian goods and services. We are not seeking to simply weather the uncertainty that surrounds us; we are choosing to meet it with confidence, resilience and ambition.
This is our moment to build. We cannot wait for the world to settle. We must build Canada's strength now by investing in our people, our infrastructure, our innovation and our environment.
Bill would build housing Canadians can afford. It would make life more affordable. It would protect health care and move us toward stronger pharmacare and child care. It would put workers first, and it would turn climate action into a competitive advantage for Canadians.
In the face of global uncertainty, this government is focused on what we can control. What we can control is our ability to build an economy that is more independent, more innovative, more inclusive and more resilient than ever before.
:
Mr. Speaker, less than a year ago, Canadians went to the polls, and we all know what was top of mind for voters: It was affordability. For 10 years, under these same Liberals, affordability was thrown to the side. Our country's spending was mismanaged. They spent all the money they could and took no responsibility for the public purse.
Then came the current . During the election, he told Canadians he would be different and would not be like his predecessor, Justin Trudeau. He said that he would be responsible. The Prime Minister persuaded Canadians that they could judge him by the cost at the grocery store.
Many Canadians were not fooled. They knew, after 10 years, who the Liberals were. They voted for common-sense Conservatives, and now we have the largest opposition in years, with 25 new seats. I am proud to be one of the new MPs in this House. I was elected by the common-sense people of Edmonton Southeast, who wanted to fix this budget.
I recently met with one of my constituents who is from the U.K. She made it clear why our , the former governor of the Bank of England, should not be the Prime Minister of Canada after what he did to that country. She was not misled, but many Canadians were misled. They believed the Prime Minister would be different from his predecessor, Justin Trudeau.
With this first budget, which is the first real test of the , he proved that he is no different from Justin Trudeau. Like Liberals often do, they say one thing to Canadians and do the other. They misled voters. This is the same budget, if not worse, that we saw during the 10 years of Justin Trudeau.
Here are some of the promises the new Liberal broke. The Prime Minister promised a deficit no bigger than $62 billion, but what we got is a deficit of nearly $80 billion. This is $16 billion more than he promised and twice the size of the deficit left by Justin Trudeau. Who would have believed it was possible to spend more than Justin Trudeau?
I am sure someone told the when he took office that he had big shoes to fill, but I do not believe this is what was meant. He is spending the most in Canadian history outside of the pandemic and is doing so with a smile. Every hour, $10 million is being added to the national debt. This is proof that he is no different than the Liberals have been in the past 10 years.
The also promised to lower the debt-to-GDP ratio, but the analysis provided by the Parliamentary Budget Officer says otherwise. The PBO found that the debt-to-GDP ratio will be even higher than it was in the last economic update, and Canada is no longer projected to be on a declining path over the medium term.
In last fall's economic statement, it was noted that a declining debt-to-GDP ratio was “key not only for fiscal sustainability, but also to preserve Canada's AAA credit rating, which helps maintain investors' confidence and keeps Canada's borrowing costs as low as possible.” By allowing the debt-to-GDP ratio to get higher, the is not only adding debt; he is also making our debt expensive.
If it continues down this road, Canada will be unable to handle a lower credit rating and increased borrowing costs. The amount being paid on borrowing costs is already higher than the revenue brought in from the GST. Yes, the 5% levy on almost everything we buy in Canada is essentially only covering our debt servicing cost.
Think about where all the money could go if we were fiscally responsible and started reducing the amount of debt and debt servicing we have to pay. Our health care system is in shambles. Millions of Canadians cannot get a doctor or specialist and often go to emergency rooms. Imagine if more of our dollars could go to doctors, nurses and hospitals instead of just paying off old debt. By creating more debt, we are making this problem worse. The future generation will pay more.
Look at the system now. It is already overloaded. What do people think the system will be like for our children? They will be paying off the ridiculous spending of the lost Liberal decade for much longer than we will be alive.
The Liberal also promised he would invest more. “Spend less...invest more” has been the tag line of the budget, but in the budget itself, at page 38, there is a graph showing that in every quarter of this year, private sector business investment will fall. Who would have thought that the Prime Minister, an investor, banker and economist by trade, would see private sector investment fall under his watch?
Even before he was the current , he was Trudeau's economic adviser. He is responsible for the problem, which is proven by the fact that he would not invest in Canada. It was not that long ago that the Prime Minister was moving his Brookfield operations to the United States. It is only with taxpayer dollars that the Prime Minister is interested in investing in Canada. Even then, with our money, he is misleading about the investment in Canada. It has become clear that he has cooked the books.
The Parliamentary Budget Officer has confirmed this, saying that the 's definition of capital spending in the budget was “overly expansive”. It defies international accounting standards. In the budget, the Liberals lumped corporate tax breaks and subsidies in with capital spending. Within international public accounting norms, we cannot consider this to be real capital formation. According to the PBO, the government's real capital spending is 30% lower than it claimed. That is a $94-billion difference. The Liberals cooked the books and are getting caught. It is no wonder they want to get rid of the Parliamentary Budget Officer.
The PBO also found that the budget will not even balance the government's operating budget over the next five years, abandoning what has been a key fiscal anchor. Very quickly, Canadians have learned that “spend less...invest more” really means otherwise; it means spending more and investing less.
Let me recap the broken promises. The broke his promise on the deficit. He broke his promise on the debt-to-GDP ratio. He broke his promise on investing more. In less than a year, the Prime Minister is showing us very quickly that the government is the same old Liberal government we have had for 10 years, maybe even worse. It is not what Canadians voted for. It is not what they want.
Conservatives could not support the budget. I am very proud of my vote against it. I am proud because my constituents voted for affordability. They are struggling.
Let me remind the House of the cost of living crisis due to 10 years of Liberal spending. Over the past year, the price of coffee has gone up 34%. Carrots are up 11%; beef, 17%; oranges, 7%; baby formula, 6%, telephone services, 8%; rent, over 5% and new vehicles, 4.5%. Do members know what is not going up this year? Paycheques, home ownership and the standard of living are not.
The people of Edmonton Southeast are fed up with Liberal spending. Conservatives will continue to stand up for Canadians and affordability. There must be no more cooked Liberal books.
:
Mr. Speaker, I am pleased to be here speaking to budget 2025, a Canada strong budget, and, specifically, elaborating on actions the Government of Canada has proposed to take on housing and infrastructure. I will share how the government is building on previous investments in housing by introducing more options for Canadians who need housing they can attain.
Federal efforts require construction and funding that can deliver. In response, the Government of Canada has outlined a comprehensive framework for moving forward, one that would accelerate the construction of affordable housing at scale. On September 14, 2025, the Government of Canada launched Build Canada Homes with an initial capitalization of $13 billion.
Build Canada Homes has a mandate to move quickly, marked by the 's announcement of its first four investments and initiatives. It complements measures the government has introduced to remove local barriers, reduce development costs, fund essential infrastructure and incentivize purpose-built rentals. It leverages programs like the Canada housing infrastructure fund, the Canada community-building fund, the Canada public transit fund and the Canada Mortgage and Housing Corporation's housing programs, such as the apartment construction loan program and mortgage loan insurance products, to make projects viable.
Build Canada Homes is Canada's new federal agency, with the mandate to scale up the supply of affordable housing across Canada. By leveraging public lands and acting as a catalyst for modern methods of construction, Build Canada Homes is driving a more productive and innovative homebuilding sector. Build Canada Homes works differently than previous government entities by combining flexible financial tools, including low-interest loans, equity investments, contributions and guarantees. With land access and development expertise under one roof, it will make large-scale mixed-market developments financially viable and attract private capital and safeguard long-term affordability. The agency will work in partnership to reduce risk, address barriers and guide projects through the development phases.
By prioritizing modern methods of construction such as factory-built housing, Build Canada Homes will spark a more productive homebuilding industry, creating a steady demand for factory-built housing, which is expected to speed up delivery, reduce costs and improve sustainability. Working in partnership with non-profits, indigenous organizations, private developers and all orders of government, Build Canada Homes is accelerating the delivery of housing that Canadians need: faster, smarter and more affordable.
On November 22, 2025, Build Canada Homes released its investment policy framework, marking a significant milestone in its mission to accelerate the delivery of affordable housing across Canada. The investment policy framework establishes clear investment priorities, guiding principles and eligibility criteria, creating a more flexible, strategic and outcome-driven approach to housing development.
Under the investment policy framework, Build Canada Homes will prioritize projects that are ready to build, affordable and collaborative, with a strong emphasis on partnerships. Projects will leverage modern construction methods like modular and factory-built housing to cut costs and speed up delivery. Projects will also use Canadian materials to strengthen supply chains and support local manufacturing.
Through this framework, Build Canada Homes will leverage public capital to unlock stalled projects, will attract private and philanthropic investment, and will scale up innovative construction methods that reduce costs and accelerate delivery. The initial focus will be on shovel-ready projects that are financially sustainable and capable of generating long-term community impact, with particular emphasis on housing for low- and moderate-income households.
To support projects that deliver long-term affordability, sustainability and community benefit, Build Canada Homes will offer a suite of flexible financial options, including low-interest loans, equity investments, contributions and guarantees. Proposals will be evaluated on affordability outcomes, speed of delivery, financial viability and long-term community impact. The Canada Infrastructure Bank gets infrastructure projects built by leveraging private and institutional capital. The government will continue to leverage its expertise to find key strategic investments on a national scale.
In budget 2025, the “Canada Strong” budget, the Government of Canada announced its intention to amend the Canada Infrastructure Bank to increase the Canada Infrastructure Bank's statutory capital envelope from $35 billion to $45 billion. With this amount, the Canadian Infrastructure Bank will be able to invest more and more rapidly across its established sectors as well as in projects that have been referred to the Major Projects Office, regardless of sector or asset class, as long as they fall within the bank's legal mandate. This will unlock more projects with the partnership of private investment.
Budget 2025 also announced that the Canada Infrastructure Bank's target for investments in indigenous infrastructure that benefits first nations, Inuit and Métis communities across its priority sectors will increase from at least $1 billion to at least $3 billion. The government will work with first nations, Inuit and Métis partners to identify and support indigenous housing needs and priorities.
Richmond, my hometown, is one of Canada's most desirable housing markets. To help address affordability, the government created the housing accelerator fund to expedite construction. That fund is supporting the construction of at least 220 affordable rental units in Richmond, and the rapid housing initiative added another 25 units for women and women with children. I am working closely with the city to deliver more.
To streamline federal efforts and leverage development expertise, responsibility for Canada Lands Company has been transferred under the portfolio of the . As part of the federal government's bold response to Canada's housing crisis, Canada Lands Company's land and development expertise is transferring under the newly launched Build Canada Homes. This marks a strategic shift in how federal lands and development expertise are mobilized to accelerate affordable housing delivery across the country.
Build Canada Homes will apply a direct build approach to oversee and lead the construction of affordable, mixed-income communities. The direct build approach is one example of how Build Canada Homes will work to improve the availability of affordable housing for those who have been priced out of the market.
The Government of Canada has set out a long-term, comprehensive and flexible plan to make housing more affordable and accessible for Canadians. Build Canada Homes will change the way we build homes in this country. Bringing forward ambitious and practical solutions, the agency will not act alone. It will work in close partnership with developers, investors, manufacturers, provinces, municipalities and territories, as well as indigenous partners, to get housing financed and built. Build Canada Homes is an integral part of a broader range of Government of Canada measures to increase the supply of housing, make housing more affordable and accessible, and lead to transformative change in Canada's housing system. Its model exemplifies the work our government is doing to accelerate growth and help make Canada the strongest economy in the G7.
:
Mr. Speaker, the Bloc Québécois voted against the budget speech. In fact, 22 Bloc members stood up and remained true to their values and their word.
A month before the budget, we made it clear to the government what our expectations were. The government refused to discuss anything, negotiate or speak with us. It refused to listen to Quebeckers' concerns. The day we voted against the budget, the and the used the word "mystified". They were mystified that we had voted against the budget. It was even La Presse's word of the week. Those folks are so out of touch that, for a month, they refused to speak with the opposition parties so, in the end, they governed by mystification. That is how it played out.
Not only did we vote against the budget, but now we have no doubt that we made the right choice. Following the vote on the speech, the budget implementation bill was introduced. We realized that this government's lack of transparency went much further than we originally thought.
In the spring, and with the support of the Conservatives, they passed Bill under closure, claiming that it was urgent for their major projects of national interest. We knew there was no urgency, that they did not even need to use it. Today, however, the 603-page budget bill reveals on page 301 how far this government is willing to go to circumvent Parliament and flout laws, regulations, and democracy.
Proposed section 12 states on page 301 that as soon as a minister thinks it might be good for innovation, they can suspend any provision of a federal law or federal regulation other than the Criminal Code. This is no joke. According to the budget bill, what was hidden from the public in the budget is that, if this measure is adopted, a minister could wake up one morning and decide to suspend environmental laws, transportation safety laws, and foreign policy laws. A minister can do whatever they want. It was not even in the budget speech. Reading the implementation bill, we realize that voting against it was absolutely the right thing to do.
Why did we vote against it? Allow me to give a few reasons. Quebec and the provinces asked for $100 billion in infrastructure over 10 years. That represents $10 billion a year, or $2.2 billion a year for Quebec. That is not a lot. When we look at the budget, how much new money is there for infrastructure over five years? Over five years, we have $9 billion. We need to take $5 billion out of that to build hospitals. As my colleague from said earlier today, how can we build hospitals from coast to coast to coast with only $5 billion? That is what it costs for a single hospital.
In fact, new infrastructure investment is $4 billion. The Government of Quebec has done its own calculations and estimates the projected amount to be $22 billion over 10 years, which is consistent with our own calculation. Today, at the Standing Committee on Finance, we asked the Parliamentary Budget Officer how much new funding was planned for infrastructure. He replied that the government had not yet given him enough information to come up with an exact number. However, he clarified that this amount falls far short of the $115 billion requested.
It is one thing for the to make the rounds of every TV network in Canada, exaggerating, indulging in hyperbole and putting on a show. However, the reality is that people were not heard. That is one reason to vote against this bill.
The same goes for health transfers. The one-off agreements with the provinces that the Trudeau government signed are about to expire. As a result, health transfers are going to decrease starting next year and grow at a slower rate than system spending. That means today, the federal government is telling Quebeckers that they have to choose between paying more Quebec taxes, making do with reduced services and increasing Quebec's debt.
The keeps telling the House that Canada has the best debt-to-GDP ratio in the G7, yet he neglects to include provincial debt. He counts the federal debt and ignores the provincial debt.
Under the Maastricht treaty, a country's debt includes the debts of its non-central entities. By no international standard does the government's math make any sense, but that does not stop it from boasting.
The government is telling the provinces that they should incur debt on Ottawa's behalf so that it can maintain a good debt-to-GDP ratio.
There is not a penny for the rapid housing initiative, even though Quebec is the only province with permanent social and community housing construction programs. What is more, Quebec generally does not receive its share of the Canada Mortgage and Housing Corporation's programs, which is 22% of the envelope. We had asked that this envelope, which works for housing, to be refinanced, but there is nothing in the budget.
Instead, the government chose to create a new entity, a new bureaucracy, known as Build Canada Homes. The Canada Infrastructure Bank is going to be in on it, yet it is not even a bank and has never actually built infrastructure. The only good thing about its name is that it is Canadian. They are trying to tell us that this will result in faster housing construction, even though the solution already exists.
We called for the $814 million stolen from Quebec to be paid back to Quebeckers, but that is not in the budget. That is another reason to vote against the budget. The Liberals bought votes by using the consolidated revenue fund in Ottawa to pay people in seven provinces for carbon tax rebates that no one ever paid. Quebeckers contributed $814 million to the vote-buying in provinces other than Quebec, and the told Quebeckers to take a hike. In the same breath, he said he was mystified that the Bloc Québécois was voting against the budget.
The 125 members of the National Assembly unanimously called for that money to be paid back. This included their Liberal friend Pablo Rodriguez, who voted with the Liberals when he was a minister, but then began voting with the Bloc Québécois when he became an independent member because he realized that he had never defended the interests of Quebec. There are 42 Liberal members across the aisle who are voting against Quebec and against the National Assembly, because they are getting their voting instructions from Toronto and Saskatchewan. That is another reason to vote against the budget.
There is nothing for seniors. The Liberals are the ones who created two classes of seniors. The legal age of retirement in Canada is 65. The Liberals boast about having brought the age back to 65. However, between 65 and 74, it is not good to be retired. People have to wait until they reach 75 to be treated the same as other retirees. This weekend, Le Journal de Montréal published a comprehensive report on poverty among retirees. We were asking for fairness. We asked that the OAS benefit be the same for seniors aged 65 to 74 as it is for seniors aged 75 and over, but the Liberals are mystified that we voted against the budget.
There is nothing for first-time home buyers who do not have a mommy or daddy or grandma or grandpa to max their tax-free savings account for first-time home buyers to fuel bidding wars in the real estate market. There is nothing. Our proposal would have cost about $200 million to implement from coast to coast. That is another reason to vote against the budget.
On top of that, we have to add in the Liberals' creative accounting. They are saying that FIFA games count as an investment. They are saying that recruiting military personnel is a capital investment and that expanding an early retirement program at CBSA counts as capital. They are saying that tax credits for carbon capture count as capital. I have studied economics my entire life. Either the Liberals are out to lunch, or there is not a single economist in Canada who knows what capital is. These are examples of current expenditures.
Furthermore, the Liberals are telling us that there will be a $78.5-billion deficit. However, the Parliamentary Budget Officer estimates that there is a 7% chance that they will reach that target, because they would need to cut $60 billion over five years to achieve it. They have identified $10 billion, but some people do not even think they will even be able to achieve half of that amount. That means that the $78-billion deficit is a minimum.
If anyone needed reasons for voting down the budget, there are a few. Now, we know the Liberals' answers, written down on little cards by the Prime Minister's Office for Liberal members to read out to us like broken records. They say they are giving the Magdalen Islands a runway and building a shark pavilion, and then they want to know how we would dare vote against the budget.
That is why we, as an opposition party, worked out our priorities. The government had our priorities a month in advance but no constructive phone calls were made. The government has another chance, also known as the Standing Committee on Finance. We have six requests. If the government wants the Bloc Québécois's support, the committee stage offers another opportunity to include the demands of Quebeckers and the Bloc Québécois.
:
Mr. Speaker, as I rise today, I would like to start by stating a fact: We live in a world of uncertainty.
All of the decisions that we are going to make, whether they are departmental decisions or decisions taken as part of a budget or government strategy, are really decisions that we have to make against the backdrop of a changing world. I speak of change, but I could also use the word “disruption”. We are truly experiencing disruptions, whether in our relationship with our neighbours to the south, at the economic level or in everything we have experienced recently. That is what I mean by the word “disruption”.
That is why I am rising today to discuss the 2025 budget implementation act.
I want to reiterate, as the has reiterated several times, that this budget will chart a clear path to build, protect and empower our country, Canada. I have said it before, I will say it again, and I cannot say it enough: We are living in uncertain times. As we know, Canadians are going through tough times, with geopolitical turbulence, supply disruptions and, above all, tariffs imposed by our neighbours to the south. All of this is obviously putting real pressure on businesses, families and workers.
In this context, our government will not give in to fear or isolationism. On the contrary, our government made a choice. It chose to act—to act ambitiously, to act clearly and, above all, to act responsibly. Our goal could not be simpler or more important: We want to build the strongest economy in the G7 by protecting Canadians' purchasing power and boosting our capacity to innovate and prosper. We want to invest, but what do we want to invest in?
I will now talk about innovation, research and development. This is a key pillar of the strategy to modernize our tax incentive program for scientific research and experimental development, the much-talked-about SR&ED program. Why? It is because innovation is not a luxury. It is the very foundation of our future prosperity.
I am not speaking in a vacuum. I myself come from an academic background. I come from the field of research, of technological innovation. We know very well that it is essential for any country that truly wants to address the technological challenges that we are facing to respect research and development and to be forward thinking in that regard. I repeat, innovation is not a luxury; it is essential to our future prosperity.
Science fuels innovation, innovation fuels productivity, and productivity is what grows our economy long-term. The SR&ED program is already the most powerful federal tool for encouraging businesses to invest in research. It represents $4.2 billion per year and primarily benefits small businesses, which account for 64% of all claims filed.
Budget 2025 takes us further. We are enhancing the program by increasing the enhanced rate expenditure limit. This strategic move will help more innovative businesses grow, scale up and invest in Canada rather than investing in other countries. The additional $440 million injected each year as a result of this enhanced tax credit is expected to generate an economic output of $1.2 billion. That is a 300% return on investment for our economy. That is a smart investment. That is a responsible investment.
We hear people across the way talking about spending, but they clearly do not understand the economic situation we are in. This is the most critical time, a time to invest. These are investments with a 300% return for our economy. That is a smart and responsible investment.
Now, let us talk about the clean economy investment tax credits. The Bloc Québécois voted against a budget that reinforces the importance of investing in the clean economy, so it cannot stand up now and say that it is the authority on clean energy. That is far from the case, since the Bloc Québécois members voted against a budget that directly helps provide clean energy for all. I think that was irresponsible of them.
The government wants to have a strong economy within the G7, and that means investing in sectors that will shape the world of today and tomorrow. To support population growth, the electrification of transportation, and the increased development of artificial intelligence, a substantial increase in our energy supply is required.
Yesterday I heard the president and CEO of Hydro-Québec say that electricity use will increase significantly everywhere, in all households and organizations, and we have heard this in other provinces too. When we see a smart government acting proactively, as our government is doing, it is a credit to our country and to our government, and for that, we should all be proud. That is why tax credits for investment in the clean economy related to electricity are a welcome and essential measure for attracting major industrial projects to the country.
We are also extending by five years the full value of the carbon capture, utilization and storage investment tax credit, a technology that is essential to achieving net zero while maintaining our competitiveness. Finally, we are expanding the list of critical minerals eligible for the clean technology manufacturing investment tax credit. When we talk about clean technologies, we must consider the major components.
During my speech, I spoke about research and development. All the research clearly shows that certain minerals are critical. Antimony, indium, gallium, germanium, scandium are just a few of the critical minerals eligible for the tax credit. The government clearly knows what it is talking about and understands critical minerals. This reflection cannot be done independently, but rather systemically, with interest, and obviously, it needs to go the right way. As I said, these metals are rare, strategic and critical for batteries, telecommunications, semiconductors and the green economy. By recognizing their importance and supporting their extraction, processing and recycling, we strengthen Canada's economic sovereignty and create jobs across the country, including jobs in our beloved province of Quebec.
In conclusion, this budget is not an accounting exercise, but a societal choice. We are making historic investments while preserving Canada's fiscal advantage. We are unleashing Canada's capacity for innovation. We are building a clean, productive and resilient economy. Most importantly, we are giving Canadian businesses the tools they need to succeed and create well-paying jobs—emphasis on “well-paying”.
I am proud to support this bill. I invite all my colleagues to do the same for the good of the economy, innovation, research and development and, most of all, for the future of our country and of Canadians.
I would not want to end my speech without mentioning the sports centre that the people of Bourassa have been waiting for for years. This budget will not only build infrastructure and concrete, but it is also building the future of these young people and the future of the citizens of Bourassa. I thank the for this budget and I thank everyone who contributed to it.
:
Mr. Speaker, it is always an honour to rise in the House and speak on behalf of the great, smart, hard-working people of Flamborough—Glanbrook—Brant North.
Tonight we are debating budget 2025, the costliest budget in Canadian history outside COVID.
An hon. member: Best budget ever.
Dan Muys: Well, Mr. Speaker, I would disagree, and I will tell members why for the next 10 minutes.
The first budget presented by the new promised discipline, responsibility and a new direction. However, every single one of those promises was broken.
Six months ago, the promised Canadians a deficit of $62 billion. In the budget that was presented a couple of weeks ago, it was $78 billion. He promised a declining debt-to-GDP ratio, but it is rising. In fact, Fitch, the government's own credit rating agency, and the independent Parliamentary Budget Officer, until he is replaced because the does not like to hear challenges to his authority, have warned of credit downgrades. This would add billions more in interest costs. This is alarming.
He promised to spend less and, instead, the budget spends $90 billion more. That is $5,400 of extra inflationary spending per household, and that has consequences. He promised help for municipalities, to get Ottawa support in cutting the homebuilding taxes in half. Instead, that promise is gone, and higher housing costs for young people desperate to enter the market are the price of the .
He promised more investment, but the budget itself admits the truth, that private sector investment in Canada is collapsing.
The most alarming number of all is that Canada will spend $55.6 billion on interest on the debt next year. That is more than all the transfers from the federal government to the provinces for health and more than is collected in GST by the government. To put that in perspective, every single dollar of GST paid by Canadians is not going to doctors, to nurses or to hospitals; it is going to bankers and bondholders. This is not fiscal responsibility. This is not economic leadership. It is certainly not what the promised Canadians.
When I first rose in the House four years ago to speak on the fall economic statement of 2021, I warned about the dangerous trend that was already appearing: declining investment, falling productivity and a shrinking standard of living. Every year since, when I have spoken on the budget, usually in the spring, I have raised the same warnings. Every year, under the Liberal government, the situation has gotten worse.
Today, Canada's standard of living is in its steepest decline in 40 years. According to the OECD, Canada is on track to have the worst economic growth of all 38 advanced economies over the next four decades, right through to 2060. The productivity gap with the United States is now at its widest since the 1950s, and business investment per worker has fallen to half of what it currently is in the U.S. Since 2014, business investment in Canada has dropped 20%, while in the United States, it has grown by over 70%. This is not a momentary blip. It is a structural decline that is directly tied to policy choices made by the Liberals over the past decade.
I will talk about what this means to the people of Flamborough—Glanbrook—Brant North, who live in the fast-growing suburban communities of Paris, St. George, Waterdown, Binbrook and Mount Hope. Families are already struggling to make ends meet because they have seen their mortgages increase as they go to renew them.
The Bank of Canada has warned that with millions of mortgages still coming due in 2025 and 2026, some people are facing a 20%, 30% or even 60% increase in payments. That can be $1,000 or $1,500 added on to a mortgage payment each month in our region and across Canada. That is really a gut punch to household budgets.
The other thing that they are being squeezed with is grocery prices. They remain painfully expensive. In fact, there was a report last week out of Dalhousie University, which said that 80.6% of Canadians, that is four in five, identify food as the biggest, most pressing expense they are facing.
This is in a country where we grow so much food and can export it around the world. Of course, if we had trade deals with certain countries and were not facing the impediments that have resulted since the took office, we would export more. How sad is that? We know that gas and home heating are still higher because the industrial carbon tax remains. We also know that Canadians are working harder but are falling further behind. Affordability is not just a talking point; it is a crisis at kitchen tables.
What worries me are the long-term consequences of this budget, because the would add $321.7 billion to the national debt over the next five years. This is more than double what his predecessor would have added, and it would add $10 million to our debt every hour. These costs are being passed on to Canadian taxpayers, and this inflationary pressure is causing grocery prices to rise and the interest rates on mortgages to be impacted.
The federal debt is now $1.35 trillion, and what do Canadians get for all of this? It is a GDP growth of 1.1%, which is the second-lowest in the G7. Ten years ago, at the end of a decade of Conservative government, we were the best-performing economy in the G7, but we are no longer today. Unemployment is rising an average of 6.4%. Investments are falling, and as a result, living standards are declining. This is not a plan for prosperity; this budget gambles away Canadian futures.
Across the great riding of Flamborough—Glanbrook—Brant North, there are four fall fairs and there are two summer festivals. I had a booth at each of them this year, as I do every year. My team and I spoke to thousands of people over the course of the 24 days of those fairs and festivals, and two themes were entirely consistent and top of mind among constituents. One was affordability, and the second was the increasing concern that a middle-class life in Canada is no longer possible. I assured them it was not this way 10 years ago, and it will not be this way once the government is replaced
It does not have to be this way. My parents came as the children of immigrants to Canada. They worked hard. They saved up. They had the belief that every generation should get more and should be stronger. We were not born with a silver spoon in our mouths, but they passed on the middle-class dream of Canada to my brothers and me.
Owning a home was an achievable goal. Building a future was achievable, but for young people today, it is simply out of reach after 10 years of Liberal budgets. Families are feeling squeezed. Young people see no path to home ownership. Entrepreneurs are facing barriers at every turn, and seniors worry about the price of groceries. A senior came into my constituency office during the break week and said they no longer buy beef because it was out of reach for them at the current price. This is someone who had a reasonable pension income from their work in the private sector previously.
Canada should be a place where hard work is rewarded, investment is welcomed and opportunity is rising, not shrinking. Canadians are not asking for perfection, but they are desperately asking for affordability and for a plan that respects their sacrifices, and this budget does not meet that expectation. That is why Conservatives will oppose this costly, reckless budget if the government will not deliver a budget that helps Canadians.
Conservatives will continue to champion letting workers keep more of every dollar of their paycheque by cutting taxes, making homes affordable by clearing the bureaucracy that blocks building, bringing down food prices by cutting hidden taxes, restoring fiscal responsibility that reins in runaway deficits and rebuilding confidence in our economy so we are attracting investment and rewarding innovators in the Canadian economy. We would open Canada up to those economic opportunities again, not choke it with red tape and debt, as the government has been doing for 10 years. We would build a positive, hopeful future for every Canadian.
Budget 2025 does not meet the moment. It raises the deficit, it raises the debt, it raises inflation, it raises the cost of living on every household in the country, it ignores warnings and it leaves Canadians paying more and getting less. Canadians deserve better than this. They deserve leadership that respects their struggles, listens to their concerns and delivers real results. We will continue to fight for accountability, and we will continue to fight for affordability.
:
Mr. Speaker, I appreciate the opportunity to lend my voice in support of Bill , the budget 2025 implementation act.
Our new government has been focused on bringing down costs and creating new opportunities for Canadians. We have cut taxes for 22 million middle-class Canadians, saving two-income families up to $840 per year. Through budget 2025, we are creating opportunities for young Canadians to transition into the workforce and launch successful careers by launching a youth climate corps and providing 175,000 placements through Canada summer jobs, the horizontal youth employment and skills strategy, and the student work placement program in 2026-27.
Bill is another important milestone in delivering measures to make life more affordable for Canadians. The bill recognizes that Canadians are concerned about affordability. Paying for essentials depends on having the funds to pay the bills, but also on the timing of when we receive those funds. We know, for example, that digitalization in the financial sector has brought many benefits for consumers, including the immediate transfer of funds. However, at the same time, we know that consumers who remain reliant on legacy financial products and services, including cheques, may be missing out on these benefits and getting left behind.
Access to cheque fund rules are now over a decade old and have not kept pace with cost of living increases or technological advances. That is why budget 2025 proposes to amend the Bank Act to raise the first amount of immediately available deposited funds from $100 to $150; remove the timing distinction between funds deposited in person or via other means; make regulations to reduce the number of days banks may hold deposited cheque funds; raise the current value threshold of $1,500, below which shorter cheque hold periods apply; and apply the changes to trust and loan companies. Once again, Bill would make this change a reality.
However, that is not the only way the bill would help improve financial services to help Canadians manage their money. Consumer-driven banking, also known as open banking, refers to a secure framework that lets Canadian individuals and businesses share their financial data with the approved service providers of their choice. This framework would give consumers greater control over their data while promoting a competitive and innovative financial sector that strengthens Canada's position in the global digital economy.
In short, the goal of Canada's consumer-driven banking framework is to promote competition and innovation in the financial sector, improve financial outcomes for Canadians and ensure that consumers can share their data securely. In other countries, regulated frameworks have proven effective at achieving these policy goals by empowering consumers, enhancing data accessibility and supporting new financial service providers and business models.
At the same time, we know that the absence of such a secure framework means that about nine million Canadians currently share their financial data by providing their confidential banking credentials in a process known as screen scraping. These consumers face increased security, liability and privacy risks that may be left without recourse if something goes wrong. Our consumer-driven banking framework would address these risks by using application programming interfaces, or APIs, to provide more secure communications between entities.
Giving Canadians greater control over their financial data opens the door to financial products and greater choice between providers, fostering a more dynamic financial sector and productive economy. Unlocking these new opportunities would lead to improved financial decision-making, lower costs and more tailored products and services for consumers. Bill would be fundamental in achieving this, as it proposes legislative changes that would complete the consumer-driven banking framework by transferring its governance to the Bank of Canada and by making a legislative amendment to the Personal Information Protection and Electronic Documents Act that would grant Canadians a right to data mobility, supporting an economy-wide approach to data sharing.
All Canadians would be expected to benefit from the consumer-driven banking framework as it would promote competition and reduce risks in the financial services industry by regulating financial data sharing. For consumers, this could mean greater financial inclusion, more informed financial decisions and better management and mitigation of financial stressors. For businesses, it could mean improved access to new forms of financing and reduced administrative burden from better integration and automation of key functions, but lower-income and financially stressed households are expected to benefit the most through access to lower-cost products, clearer choices, and tools to manage debt and reduce financial stress.
What is more is that this is not the only way that Bill would help Canadian financial consumers save and manage their money. We know, for example, that all Canadians would benefit from improvements to the federal credit union framework, since allowing more financial institutions like credit unions to grow would create more competition in the financial sector. Competition drives down fees, improves interest rates on deposits and leads to better customer services, bringing benefits to the diverse regions across Canada that credit unions currently serve. Competition in the sector could also drive efficiency and support economic development and productivity as financial institutions are driven to allocate capital to their most productive uses.
That is why budget 2025 proposes to amend the Bank Act, the Canada Deposit Insurance Corporation Act and the Financial Consumer Agency of Canada Act to support federal credit unions' growth via amalgamation or asset acquisitions, and to make it easier for credit unions to enter the federal framework, including by providing the flexibility for them to continue their existing auto-leasing business on a permanent basis. With these changes included in Bill , we have yet another way it would bring down costs for Canadians and yet another reason to support the bill.
The also includes provisions that would exempt the Canada disability benefit from being treated as income under the Income Tax Act, helping ensure that Canada disability benefit recipients would keep the full value of their benefits, including other federal income-tested benefits and programs, such as the Canada child benefit. Helping to reduce poverty and increase the financial well-being of low-income persons with disabilities is a key priority in our government's work to build a fairer Canada, and it is yet another reason for parliamentarians to lend their support to Bill C-15.
However, it does not stop there. The even includes new financial support for those who provide help to those who need help. Personal support workers help Canadians live and age with dignity, and they helped us to get through the COVID-19 pandemic. We as a country owe them a tremendous debt of gratitude. That is why we would introduce a temporary personal support workers tax credit, under which eligible personal support workers employed in the provinces and territories that are not already covered by a bilateral agreement with the federal government, to increase wages for personal support workers. They could claim a refundable tax credit equal to 5% of their eligible earnings, providing support of up to $1,100 per year.
This measure to support frontline health care workers would be available for the 2026 to 2030 taxation years and is estimated to cost $1.48 billion over six years, starting in 2025-26. Of this amount, $1.17 billion would be sourced from funding previously committed, but unutilized, to support wage increases for personal support workers. The bottom line is that this tax credit would empower the personal support workers who care for us by putting more of their hard-earned money back in their pockets.
That is what this bill is all about. Our government remains focused on empowering Canadians by lowering costs, increasing competition and expanding opportunities—
:
Mr. Speaker, it is always an honour and a privilege to rise in the House of Commons and speak on behalf of the great people of southwest and west-central Saskatchewan. It was a nice weekend back home, but it looks as though, this week, winter is going to be settling in for the long haul. Unfortunately, there is some snow on the forecast, so I just want to wish everyone well back home as we get ready for winter to settle in.
I want to start by saying what the national debt was during question period. It was $1,281,213,600,467. I am ballparking those last six figures because the debt clock moves really fast, and I cannot even see what the numbers are because it is reeling at such a great speed. Since then, the national debt has increased by over $15 million on just the interest that has accrued. Right now, we are sitting at $1,281,228,741,000, now 42,000, now 43,000. Again, I cannot even read the hundreds column because it is going way too fast.
I wanted to bring that up for people so that they can understand what we are talking about when we say that the government needs to exercise fiscal constraint and that it needs to be responsible with the budget. What does it mean when those numbers go high? When government spends way more money than it brings in, that leads to inflation in what people pay for goods. When we talk about many of the issues we face as a country, particularly the next generation of youngsters, the government sets the tone with its own finances. Youngsters are looking to figure out how they are going to build a home and how they will afford groceries or go to university, things like that. The current budget is a terrible example for the next generation of how to set a budget, follow a budget and stick to a goal in terms of what one is going to do.
The said that he was never going to go higher than Justin Trudeau's debt number. That was $42.2 billion. We are at $78.3 billion. In fact, the member of Parliament for was the finance minister. She actually resigned her position because of what Justin Trudeau was doing with the budget, which precipitated the whole process through which the current Prime Minister became the leader of the Liberal Party and, therefore, the Prime Minister of Canada.
Why does all this matter? I was comparing the budget to the 2024 budget, which had “fairness for every generation”. The projections the Liberals had for the 2024 budget and in relation to the fall economic statement were that the projected deficit for this fiscal year was going to be only $38.9 billion. When we look at the budget, right now, we are sitting at $78.3 billion, so there is a discrepancy of almost $40 billion.
The Liberals are probably going to get up, and someone is going to say that it is Donald Trump's fault and so on and so forth. There is a bit of blame that can maybe go there, but there is another promise that was broken. The said that he was the man who was fit to deal with a crisis and that he knew how to manage a crisis. As we saw in the media today, “whatever, so what?” was his whole response to how things have been going with Donald Trump.
We know that the has been a failure on trade and with the current budget. Something else that caught my attention, and I do not think that it caught the attention of too many other people, is that the debt ceiling for Canada was also increased. It has actually increased three times in the last four years. Most people do not know that. It is another small fact that slides on through without anybody really talking about it. Let us compare and contrast that with how things go in the United States: If the government has to increase the debt ceiling, it is a big process that gets national attention and makes the news. It even makes it on to CBC, which is supposed to be the Canadian Broadcasting Corporation, but it spends more time covering American than Canadian politics.
Anyway, the debt ceiling has increased three times in the last four years. It has been increased to somewhere around $2.3 trillion. It makes one wonder what the government's plan and projection is going forward if it is already increasing the debt ceiling that high above what the current debt already is.
Going forward, let us go out the next four or five years, because the budget actually does that. It forecasts what the year-over-year deficit is going to be, and it also projects what the cost to service the debt is going to be. It is going to cost about $76 billion to $78 billion just to pay the interest on the national debt three or four years from now.
Why is that significant? I am going to give people back home a specific example. Everybody in Saskatchewan remembers when, in the 1990s, the federal government's debt got out of control. Jean Chrétien tried to borrow more money and was told that he could not. He ended up rolling back health care transfers to the Province of Saskatchewan. In Saskatchewan, 52 hospitals that had eight beds or less were closed or were repurposed and had their service delivery changed. That was the impact that this had all across Saskatchewan. I am sure other provinces went through the same thing.
In Saskatchewan, that was devastating. Our health care services have now become so heavily centralized. In some cases we have to drive three or four hours just to be able to see a doctor, when there used to be a hospital or a health clinic only half an hour or even 20 minutes down the road. That is no longer the case. For example, someone living on a farm or in a rural community who wants to start a young family has to go two hours to get to the hospital to be able to deliver their child.
Things like that have had a dramatic impact and have been a change over the years. With the Liberal government's budget running such a massive deficit, people in Saskatchewan always remember what the ripple effect of that was and how it happened.
Pierre Elliott Trudeau had done exactly what Justin Trudeau did. Interest rates were low, so they locked in crazy spending. Pierre Elliott Trudeau, in the 1970s, ran a deficit of an equivalent of, I think, $72 billion when we factor in the value of today's dollars. The way that the borrowing happened at that point in time, when that all came to be renewed in the late 1980s and into the 1990s, interest rate percentages were in the high teens and into the 20s. There is a reason why the government could no longer borrow more money.
That was why, when Jean Chrétien tried to borrow more money and he could not, he had to massively slash government spending, which meant that he slashed the transfers to the provinces. That is what took one of the biggest hits.
That is the track record of out-of-control Liberal spending. Canadians do not want those results again.
Let us talk about the fiscal anchors. The fiscal anchors from the previous budget have all been completely abandoned. Those included not spending over $42 billion, and also making sure that the debt-to-GDP ratio did not go over a certain level. We have blown way past that level. The government has now switched to a declining deficit-to-GDP ratio and also to the balancing of the operating budget. The Parliamentary Budget Officer, the independent PBO, did a fantastic study. He said that there is only a 7.5% chance that the deficit-to-GDP ratio will decline. There is a 92.5% chance that the government is going to fail on that fiscal anchor as well.
Let us talk about a few other things. There are a couple of things the government has said that we will give it credit for. It wanted to repeal the carbon tax. The Conservatives opposed the tax for a very long time, and the Liberals repealed it. We opposed the emissions cap, which they are repealing because, they cited, it would have marginal value on actually accomplishing any emissions reduction. We all know that it was actually a production cap all along.
There is a section in the budget that I was looking at earlier, called “Improving the Efficiency of the Tax System”. It does not even get half a page. All it does is remove the luxury tax from airplanes and yachts. It also repeals the underused housing tax. That is it for improving the tax system.
During tax season, so many people came in to talk about their issues with CRA, how the tax system was unfair and how it needed to be massively overhauled and reformed. The government could have chosen to, for example, change how the livestock tax deferral works for our ranchers when they go through drought. It would have had a massive impact if that livestock tax deferral were to have been extended. That would have been a positive measure and a step in the right direction, but no.
The gun buyback program is in the budget: $742 million to take property away from law-abiding Canadians. That is shameful.
They are spending $362 million on farmers overseas, not on farmers here in Canada or in Saskatchewan. With the trade issues that we are seeing going on, I can think of lots of great places where that money could have been used instead.
Maybe in questions, we will get to that.
:
Mr. Speaker, I rise today on behalf of the good people of Milton East—Halton Hills South to bring reflections on our government's 2025 budget and Bill , the budget implementation act. This is a budget that lays the blueprint to address a new paradigm of economic development, nation-building and generational investment. This is a budget that believes in Canada. This budget is historic, and it comes at a historic time, but is also a time of challenges.
We know that Canada is grappling with recent economic hardships as a result of the unfair tariffs the United States has thrust upon us. These tariffs have contributed to a global disruption of economic conventions and to unaffordability around the world. It is not just a Canadian problem. In fact, we saw recently that unaffordability in the United States is so critical that the American President has actually reversed course on his prized tariff policy, reversing tariffs on food items that Americans were struggling to afford, and they still do.
However, Canadians know that times of challenge are also times of opportunity. Now is the time for us to re-evaluate and recommit to our own destiny. We do not need to rely on anyone to be prosperous. We have much of what we need right here: an educated, hard-working and patriotic population; vast natural resources that the world wants; and a philosophy of co-operation, quality and responsibility that makes us a desired partner for trade, investment and collaboration the world over.
The broad shifting tides of the global economic landscape are being felt in the daily lives of Canadians. As a government, it is our duty to address this. Our 2025 budget is the foundation of our answer to this challenge. Here, in the people's House, we all hear it and feel it. Affordability, housing, employment, our young people, crime and defence all need and deserve our collective attention.
It is the right of every Canadian to feel secure in their daily needs and endeavours. We understand the importance of investing in resources for a safer community, and that is why budget 2025 would invest $1.7 billion over four years into public safety and border security by hiring 1,000 new RCMP officers and 1,000 new border security agents. Safety in our communities is also top of mind. By investing in law enforcement and justice reform, we would tackle organized crime, gun violence, auto theft and many other crimes. Safety is the first pillar of prosperity.
I have four young adult children. As a mother, their struggles are my struggles. Youth unemployment rates are not acceptable. Over the next two years, $594 million will develop 100,000 summer jobs under our Canada summer jobs program. Investing over $300 million over two years in our youth employment and skills strategy would provide employment and support to 20,000 young people facing employment barriers, and we would create 55,000 work-integrated learning opportunities for post-secondary students by investing $635 million in our student work placement program.
This new government has also committed $40 million to create a youth climate corps that will provide paid skills training to young Canadians to quickly respond to environmental emergencies, support recovery and create a resilient Canada for generations to come.
Hand in hand with employment is the pride and accomplishment of a home to call one's own. We have been facing a steep housing supply gap. To combat this, our government has allotted $13 billion over five years to our Build Canada Homes initiative, supercharging the housing industry and catalyzing private sector partnerships to build homes at a rate unseen since the postwar period. We would also expand transitional and supportive housing for the most vulnerable among us, working with our provinces, territories, municipalities and indigenous communities.
In the short term, we are providing relief by bringing down house purchase costs through our elimination of the GST for first-time homebuyers, allowing them to recover up to $50,000 of the GST paid toward a new home, money that would go directly back into their pockets. We are also protecting existing affordable housing through launching the $1.5-billion Canada rental protection fund under Build Canada Homes to ensure that affordable rent is not being lost to increases.
To provide quick relief to nearly 22 million Canadians, our government has implemented a middle-class tax cut aimed to specifically target Canadians in the lower and middle tax brackets. In hand with this, our government is transitioning to automated federal benefits for Canadians through simplifying the filing of tax returns. This would result in approximately five and a half million Canadians receiving the benefits they are entitled to but are not currently collecting simply because they are not filing tax returns. These benefits belong to the people, and our government is removing obstacles so the people can benefit.
Canadians are not afraid of hard work, and the government is implementing a new re-skilling package for workers. By providing $570 million, we would support training and employment assistance to workers who have been affected by tariffs and global market shifts.
Guaranteed in our charter is security of the person, and this is a foundational tenet in Canada's health care system, a system that is envied the world over and that every Canadian can look to with pride. The government would invest $5 billion over three years to our dedicated health infrastructure fund. We recognize that hospitals, urgent care centres, emergency rooms and medical schools need to be at the forefront of our investment to serve Canadians.
In my riding of Milton East—Halton Hills South, plans are under way for a new hospital in Georgetown and a palliative care hospice, each facing significant capital costs. Budget 2025's health infrastructure proposal is the type of plan that will support such projects. Our municipalities and our people need this support.
My history as a municipal councillor in Milton gives me an insightful perspective in this sphere. So much of our municipal planning depends on investing in core public infrastructure. Municipalities have limited ways to raise revenue and cannot run budget deficits, yet they are burdened with increasing responsibilities, typically without the corresponding financial support.
I am so proud to stand up for this budget, which commits $54 billion to core public infrastructure over the next five years through our build communities strong fund. This infrastructure is imperative to supporting municipalities as they work to facilitate homebuilding in our communities.
Of course, with development, we must be mindful of our impact on our natural environment. Our budget outlines the path to supporting a green future while providing prosperity by becoming an energy superpower in both clean and conventional energy. Lowering our emissions is a necessity to protect the competitiveness of our oil, gas and steel sectors. By placing emission reduction first, we are securing access to markets that prioritize sustainability.
The world economy is undergoing historical transformations in clean technology, and we are ready to lead. Canada's power sector has a clear emissions advantage compared to those of our peers, and we will capitalize on it. With this budget, we will build new infrastructure that places Canada as a clean energy superpower. This will include renewable energy projects, high-speed rail and investments in low-carbon fuels.
Budget 2025 strengthens industrial carbon pricing, supports critical mineral projects and boosts clean economy investments with tax credits. As we plant the seeds to invest in Canada, we will be doing it with a green thumb.
Our has been clear: Canada's new government will spend less so we can invest more. At a time when Canadians are facing economic pressures in their daily lives, this government recognizes its duties in solidarity with all Canadians. That is why this budget demands $60 billion in savings, and we have done this while still protecting the vital services Canadians rely on: child care, dental care, pharmacare and our national school food program.
It is our duty to guard tax dollars and reduce inefficiencies. Our comprehensive expenditure review will focus on investments that meet program objectives, that complement, rather than duplicate, services delivered by other levels of government and that cut red tape while creating efficiencies.
I am so proud to be a Canadian and a member of a government that is unafraid of taking bold action and meeting challenges head-on. It is at times of adversity that leadership is tested, and this government under this is leading this moment.
Canada is remarkably poised to lead through the shifting sands of global trade and embark on a new era of nation building. We are among the top producers of critical minerals and a world leader in artificial intelligence. We have unmatched market access as the only country in the G7 with comprehensive free trade agreements with all other G7 members.
We have the people, the resources and the stability necessary to prosper, compete and lead in the new economy being shaped before us, and to contribute to its formation in a way that benefits Canadians. Our mission is clear: protect, build and invest. This moment is a time for reflection, for honesty and for taking our place as a nation of builders and innovators. This moment is a turning point for economic prosperity and nation building in Canada.
We are taking control of our own future. We will achieve this by capturing all the promise and potential of our great nation and ourselves. For everything, there is a time, and this is a time to believe in ourselves, to believe in Canada.
:
Mr. Speaker, when Canadians opened the budget, they were shocked. They were shocked because the promised he would be different from Justin Trudeau. He promised fiscal responsibility. He promised to reduce spending. He promised to lower the debt-to-GDP ratio. However, it was all show.
Canadians now see the truth. Instead, the has delivered the largest deficit outside COVID, at a staggering $78 billion, but there are some people celebrating. I could almost hear the bankers and bondholders clinking their champagne glasses, thrilled about higher inflation and interest rates that will put more money in their pockets. The global elites are grinning too, because the Prime Minister quietly removed the luxury tax on yachts and private jets. However, the middle class are the ones who were fooled. As the saying goes, “Fool me once, shame on you; fool me twice, shame on me.”
As I read through the pages of the budget, I was struck by what was not there. There was not a single meaningful measure to confront the drug and addictions crisis devastating our communities. For a decade, the Liberals have normalized drug use. They have promoted the consumption of illegal drugs, such as crack cocaine, meth and fentanyl, under the guise of safe supply. There is nothing safe about fentanyl. There is nothing safe about enabling someone to slowly poison themselves to death, yet the continues to make drugs more accessible and treatment harder to find. If it sounds insane, that is because it is.
Let us look at the facts. The Liberals approved the decriminalization of hard drugs in British Columbia. The then associate health minister signed an exemption under the Controlled Drugs and Substances Act that legalized drug use across the province. What has this experiment produced? If the minister walked down East Hastings Street in Vancouver as I did this last month, she would see what happens when government enables drug use. It is not just crime and chaos; it is costing lives too.
Some hon. members: Oh, oh!
Dan Mazier: I cannot believe what I am hearing across the aisle, Mr. Speaker, but last year alone, over 2,200 British Columbians died from toxic drugs, which is more than six lives every single day. The Liberals could have used the budget to shut down the failed experiment, but, for some unknown reason, they did not; instead, they let it continue while Canadians keep dying.
However, it does not end in B.C. The is approving supervised drug consumption sites across the country, including next to day cares, schools and playgrounds. Parents should never have to walk their children past people smoking fentanyl in broad daylight. Children should never find used needles in their playgrounds. Health Canada's own data shows that the most used substance at these federally approved sites is fentanyl. Nearly every second visit consists of fentanyl use.
How is this safe? It is unbelievable that the Liberals actually consider this safe.
It is not just the Conservatives who are saying this, but law enforcement is sounding the alarm as well. In a letter sent to the Liberal government earlier this year, the chief of the Ottawa Police warned that a federally approved supervised drug site in downtown Ottawa has become the focal point of community safety concerns. He reported an escalation in open drug use, aggressive behaviour and public intoxication in the neighbourhood. This is right in the middle of a community.
I walked down those streets as well, and it is unbelievable, yet the Liberal government consistently turns a blind eye to this. Law enforcement warned that the impacts have become so serious that nearby child care centres have been shut down over safety concerns.