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Decentralized Democracy

House Hansard - 310

44th Parl. 1st Sess.
May 7, 2024 10:00AM
Context: House Hansard - 310 - May/7/24
Mr. Dan Albas (Central Okanagan—Similkameen—Nicola, CPC)
  • May/7/24 11:50:26 a.m.
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Mr. Speaker, it is an honour to rise on behalf of the good people of Central Okanagan—Similkameen—Nicola. I will inform the House that I will be splitting my time with the incredible member of Parliament for Prince Albert. I have been around this place long enough to see a clear pattern of what a Liberal budget is. What exactly is the pattern of a Liberal budget? We have to go back to 2015 for a moment. What happened back in 2015? The Liberal Prime Minister promised three years of modest deficit-spending budgets before he made a cast in stone promise to return to a balanced budget in 2019. What happened to that promise? In each of those three years, the Prime Minister spent much more than he had promised. In 2019, he did not even try to keep his cast in stone promise about returning Canada to a balanced budget. In other words, this Liberal Prime Minister did not even try to do what he had promised. Why even promise to return Canada to a balanced budget when he had no intention of ever doing so? Of course, we all know the answer. The Prime Minister is willing to say literally anything if he thinks it will get him votes and help him gain voters' confidence. That is the real problem with what has become the trend in the libertarian budgets tabled by the Liberals and the Prime Minister, because Canadians have lost confidence in this Liberal government. Let me provide yet another example of this. To do this, we have to go back to the 2022 Liberal budget. Back in 2022, following the pandemic, the Prime Minister and his finance minister introduced what his Liberal government called the return to fiscal responsibility budget. That begs the question of what fiscally responsible spending was, according to the Liberal government in 2022. The answer is that the Liberals' 2022 budget proposed total federal government spending of $434 billion. This is an interesting amount of money because it represented a $90-billion spending increase over the Liberals' very own prepandemic spending in the 2019-20 fiscal year, which had a budget of $338 billion. Now, here we are with the latest Liberal 2024 budget, which proposes total spending of $535 billion for the 2024-25 fiscal year. Let us pause for a moment to recap. The 2022 return to fiscal responsibility budget was $434 billion. Now, here we are in 2024 with the current budget, and the proposed spending is $535 billion. This means that the latest Liberal budget for the 2024-25 fiscal year proposes to spend $100 billion more than what the Liberals themselves labelled a return to fiscal responsibility budget just a short time ago. Let us look at the bigger picture for a moment. Before the pandemic began, in 2019-20, the Liberals were spending $338 billion. Today, the Liberals now propose to spend $535 billion. That is an increase of almost $200 billion a year in annual spending, and let us not kid ourselves. Everyone knows the Liberals will spend more than the $535 billion they are proposing in this budget. If anyone is in doubt of that, I will recall what the finance minister told us in April of last year during her 2023 budget. In that 2023 budget, the Liberals told us that projected total spending would be $497 billion in 2023-24. That self-same Liberal budget projected spending would reach $556 billion in 2027-28. Now, here we are in 2024-25, and already the Liberals are proposing to spend $535 billion. Can we all not see the clear pattern here? Every year, what we are told will happen never actually happens. The forecasts, the promises and everything the Liberals promise us end up being completely false. They do not even try to live within the fiscal limits they propose for themselves. This particular Liberal budget follows the pattern that once again demonstrates that every commitment of a so-called fiscal guardrail made in previous Liberal budgets was a sham. Most offensive of all is that the Prime Minister's Office has the audacity to label this budget as the “Fairness for Every Generation” budget. I am literally aghast by this. The 2024 “Fairness for Every Generation” budget proposes a $40-billion deficit for this fiscal year alone. This is noteworthy because the Liberals' previous debt forecast was $35 billion for 2024-25 and $27 billion for 2025-26. In the Liberals' mini budget last fall, their fiscal update increased the deficits projected for 2024-25 and 2025-26 to $38 billion and $38 billion respectively. Now, why is this new debt significant? Given the current interest rates, the cost of servicing on the national debt has now exceeded federal spending on health care, and this problem only gets worse. There is an entire generation of young Canadians who are now entirely left out despite all the Liberal spending, and this is today. Literally, this problem is so bad that even the Prime Minister himself now openly admits that young people now feel like they cannot get ahead in the same way their parents or their grandparents could. However, it is much worse than that. The Prime Minister is leaving future generations of Canadians with record levels of debt and no plan whatsoever to return to a balanced budget, ever. The Prime Minister has failed in every single budget to do what he promised he would do in the budget the year previous, and I have established that with several examples in my comments today. Let us ask the Prime Minister, who thinks he is pretty awesome, if, in the past nine years he has massively and completely failed to even come close to balancing the budget, what is he expecting future generations of Canadians to do because they are the ones who will be inheriting all of this Liberal debt? What Canadians see is a desperate Prime Minister's Office trying to shovel as much money out the door as quickly and as recklessly as they can as they are hoping that something, anything, will stick as they try desperately to buy their way to remain in power because power is the one thing that the Prime Minister and his group of insiders really care about. I would submit that they will and, in fact, they are, willing to spend any amount of money in their quest to retain power. I believe the way they see it in the Prime Minister's Office is that this ends in one of two different ways for them. Either they will be successful and remain in power or, if they are unsuccessful, well, they do not care about the fiscal mess they will leave behind because it will be future generations of Canadians, but more importantly not them, who will have to clean the mess up and pay for it. I submit that this is really what is occurring here. Members can imagine leaving our kids behind a prepaid Visa, but in reality, that prepaid Visa card has a negative balance of $10,000 owing on it. The joke is on them. In the real world, no one would actually do that, but the Prime Minister is doing exactly that, and he has the audacity to pretend to call it fairness for every generation. There is nothing fair about racking up huge debts in an attempt to buy votes and leaving future Canadians to foot the bill. It is the most unfair thing that the government can do to young Canadians, but that is precisely what the Liberal government is doing. Rather than accept and respect the fact that many Canadians see and oppose what the government is doing, the Prime Minister's Office is doubling down and proposing more of the same. This is a budget, yes, but it follows a dangerous pattern. The Liberals continue to say whatever it takes to stay in power. They have no intention of following through on their promises. They do not care. They just care about power. That is not good enough for this chamber. It is definitely not good enough for Canadians, and I will not be going along with this plan to again spend whatever it takes, to throw that money at the wall, to see how long they can stay in power.
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Context: House Hansard - 310 - May/7/24
Hon. Chrystia Freeland (Deputy Prime Minister and Minister of Finance, Lib.)
  • May/7/24 2:35:06 p.m.
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Mr. Speaker, yet again, this is just basic disinformation from the Conservatives. What the Governor of the Bank of Canada said to the finance committee last week, speaking about our budget, was “I don't expect that it's going to have a significant macro impact relative to our previous [fiscal] forecast.” He said that meeting the fiscal guardrails is helpful. Moody's has reaffirmed our AAA rating. These are not partisans. Our budget is fiscally responsible. Conservatives are simply not telling the truth.
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