SoVote

Decentralized Democracy

House Hansard - 57

44th Parl. 1st Sess.
April 25, 2022 11:00AM
Context: House Hansard - 57 - Apr/25/22
Hon. Mark Holland (Leader of the Government in the House of Commons, Lib.)
  • Apr/25/22 2:26:46 p.m.
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Mr. Speaker, at a time when we are seeing in Canada incredible economic progress, in fact 110% beyond where we were at prepandemic levels; when we see our GDP exceeding where we were at prepandemic levels; and when we see the challenges that are faced by Canadians here in Canada and around the world, I would expect that in question period we would—
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Context: House Hansard - 57 - Apr/25/22
Hon. Chrystia Freeland (Deputy Prime Minister and Minister of Finance, Lib.)
  • Apr/25/22 2:44:52 p.m.
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Mr. Speaker, the Conservatives continue to talk down the Canadian economy, but the truth is that Canada is very well placed to weather the storms caused by COVID and by Vladimir Putin. According to the IMF, we will have the fastest growing economy in the G7 this year and next year. We have the lowest debt-to-GDP ratio in the G7, and we have recovered 115% of the jobs lost to COVID, compared to just 93% in the U.S.
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Context: House Hansard - 57 - Apr/25/22
Mr. Mark Gerretsen (Parliamentary Secretary to the Leader of the Government in the House of Commons (Senate), Lib.)
  • Apr/25/22 6:09:57 p.m.
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Mr. Speaker, I listened attentively to the speech from my colleague from across the way, and she particularly talked about the debt-to-GDP ratio in Canada. I think what she misses is the bigger picture, and in the bigger picture we have the second lowest debt-to-GDP ratio among the G7 countries, at least for 2021. We have prepared ourselves in a way that allows us to benefit from the investments we made in Canadians during the pandemic by coming out stronger on the other end of the pandemic. We are seeing that with the levels of employment and we are seeing that with the economic growth in Canada. I realize that Conservatives will quite often say, “Do not worry about what other countries are doing; just worry about what is happening in Canada.” The reality of this situation is that in a global economy and with a global market, where we are continually interchanging goods and services throughout the world, we cannot look at one country in isolation. I am wondering this. Can the member at least comment on the fact that we do have the second-lowest debt-to-GDP ratio in the G7 countries, and does she think that is a good thing?
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Context: House Hansard - 57 - Apr/25/22
Ms. Melissa Lantsman
  • Apr/25/22 6:11:12 p.m.
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Mr. Speaker, if the member is explaining to someone in his riding who is telling him that the cost of groceries is going up, that the cost of gas is going up, that the cost of rent is unaffordable or that their kids cannot move out of their basement, I am wondering if he states the debt-to-GDP ratio as a statistic for his support.
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