44th Parl. 1st Sess.
October 16, 2023 11:00AM
- Oct/16/23 2:26:28 p.m.
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Mr. Speaker, our government will be providing an update on our debt and deficit figures and on our revenues in the fall economic statement in due course.
When it comes to Canada's fiscal position, let me be very clear: Canadians should listen to the independent ratings agencies whose job it is to evaluate Canada's position and not the partisan talking-Canada-down attacks of the opposition. Canada's AAA rating has been reaffirmed by ratings agencies since the budget. We are fiscally strong.
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- Oct/16/23 2:27:59 p.m.
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Mr. Speaker, let me again bring some independent, non-partisan facts to this conversation. It is the job of the ratings agencies to determine the sustainability of every country's fiscal position, and ratings agencies have reaffirmed Canada's AAA rating. Why did they do that? It is because we have the lowest deficit and the lowest debt-to-GDP ratio in the G7.
We believe in fiscal responsibility, and the numbers show it.
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- Oct/16/23 2:36:22 p.m.
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Mr. Speaker, in due course, our government will provide an update on the fiscal picture, both expenses and revenues, in the fall economic update.
Let me be clear, because I do not want Canadians to be misled by alarmist, partisan talking points from the opposition. The reality is that Canada's position is fiscally responsible. We have the lowest debt and deficit in the G7. Our AAA credit rating has been reaffirmed by our ratings agencies.
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- Oct/16/23 2:37:46 p.m.
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Mr. Speaker, our government will provide an update on our fiscal position, expenses and revenues in due course, in this fall's economic update.
I want to be very clear on Canada's fiscal position. I was at the IMF World Bank finance ministers meeting just last week. That is where it was so clear that Canada has the lowest deficit, the lowest debt-to-GDP ratio in the G7. Our position is enviable.
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- Oct/16/23 2:41:37 p.m.
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Mr. Speaker, our government will state Canada's fiscal position, revenues and costs clearly in the fall economic statement in due course this fall.
What the opposition clearly does not want to admit is that Canada's fiscal position is responsible. Indeed, it is enviable compared to our peer countries. This was reaffirmed by the independent ratings agency, DBRS Morningstar, which recently reaffirmed our AAA rating, and by S&P, which reaffirmed it after the budget.
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- Oct/16/23 2:42:53 p.m.
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Mr. Speaker, our government will confirm the budget figures in the November economic statement.
Today, however, I can point out a very important reality, a reality that should be reassuring for all Canadians: Canada's fiscal position is very strong. We have the lowest deficit and debt-to-GDP ratio in the entire G7, and our AAA credit rating has been reconfirmed by credit agencies.
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