"This Debate Changed Once the Facts Came Out"

Added: 2026-05-27

[00:00:00]Prime Minister's fond of blaming the rest of the world for the terrible economy he has created here at home, but the other G7 countries face tariffs and high oil prices, and none of them have anywhere near the level of household debt here in Canada. By far, Canadian households, with a buck 77 a debt of debt for every dollar of income, are far more indebted than any other country. In fact, a third higher than the second worst. I quote Equifax, "The mispayment levels highlight severe financial strain markets with mortgage delinquencies up 52% in Ontario, 36% in BC." If people are doing so well, under his leadership, why are they missing their mortgage payments?

[00:00:42]The [applause] honorable Secretary of State for Financial Institutions.

[00:00:47]Mr. Speaker, while that leader is focused on podcasts, fitness videos, and empty parking lot press conferences, on this side of the house, we're focused on delivering affordability for Canadians.

[00:00:58]WE JUST PAUSED the federal excise tax on gas, 10 cents a liter. We canceled the consumer carbon tax. That is 18 cents a liter. Combined, that is 28 cents a liter savings for Canadians. Time for that leader to put down the kettle bells, help us build Canada strong.

[00:01:15]Thank you, Mr. Speaker.

[00:01:17]The honorable leader of the opposition.

[00:01:20]Well, the Prime Minister could have done better than that.

[00:01:25]We're going to get If he's going to hide under his desk and get someone else to speak in his favor, got to get something better than that. That's about as good as his economic policies, Mr. Speaker.

[00:01:35]He owes Canadians answers. The reality is that we have the highest household debt of any G7 country by far, and we've seen that in the first quarter of this year, there's been a 19% increase in year-over-year delinquencies. Canadians cannot make their minimum payments. Instead of smirking and hiding behind his back bench, will the Prime Minister stand up and ask him to reverse course so Canadians can PAY THEIR BILLS.

[00:02:04]THE HONORABLE MINISTER OF JOBS and Families.

[00:02:10]One moment. We'll wait. We'll wait.

[00:02:11]Okay, the honorable Minister of Jobs and Families.

[00:02:15]Mr. Speaker, this afternoon I had lunch with Sean Strickland from the Canadian Guild All right, I couldn't hear who the Minister had lunch with. So So so so so she can start from the top.

[00:02:27]She can start from the top. I didn't hear who the Minister had lunch with because it was too much noise on this side.

[00:02:35]Matters to me. I'd like to know. The honorable Minister of Jobs and Families.

[00:02:40]Well, since those guys don't know how to pick up a check. In fact, I paid for lunch and I TOOK SEAN STRICKLAND, PRESIDENT OF THE CANADIAN Building Trades Union out for lunch. YOU KNOW WHY, MR. SPEAKER? Because we want TO HEAR THEIR IDEAS ABOUT HOW WE MAKE SURE THAT THESE GOOD UNION JOBS BUT THAT BY THE WAY EMPLOYERS NEED ALL ACROSS THE COUNTRY come to fruition. And Mr. Speaker, the Canadian Building Trades Union, the Operating Engineers who are here IN OTTAWA TODAY ARE ALL SO EXCITED ABOUT THE PLAN TO BUILD CANADA STRONG, TO get major PROJECTS OFF THE GROUND USING GOOD UNION LABOR THAT PROVIDES GREAT PAYING JOBS, SOMETHING THAT I KNOW THEY'RE GOING TO THE honorable Leader OF THE OPPOSITION.

[00:03:21]>> [applause] >> CANADIANS ARE skipping lunch because they can't afford to pay their bills while this Prime Minister and the Brookfield class skip their tax bills.

[00:03:32]Meanwhile, here at home, Mr. Speaker, here's the reality. Equifax is out this week with a new report. This is the organization that checks the check the credit scores of individual Canadians saying the insolvency volumes have increased to levels not seen since 2019, 18 years ago, Mr. Speaker.

[00:03:50]Will the Prime Minister announce that he will reverse the inflationary, debt-ridden policies so that Canadians do not go bankrupt?

[00:03:59]>> The honorable uh Minister.

[00:04:01]>> [applause] >> Mr. Speaker, last week I was in Marathon, Ontario to talk about mining.

[00:04:06]There's a mining boom in northern Ontario, something I think these guys are not aware of. And you know what came up over and over and over again? The gratitude for a government that's taking seriously the investment into natural resource extraction in northern Ontario that's helping provinces and uh in in the country get natural resource projects off the ground and the need to invest in the skilled trades workers that, by the way, create the great jobs with pensions in hard-working environments, something I think that member doesn't really understand.

[00:04:35]Honorable Leader of the Opposition.

[00:04:37]>> [applause] >> Mr. Speaker, we have 3.1 million Canadians will renew their mortgages over the next 2 year into much higher rates after this Liberal government, in particular this Liberal Prime Minister, advising people to take on extra debt with the promise that rates would be low for long. Now, the uh the chickens are coming home to roost with with rights with rate increases that threaten more and more people with the loss of their homes. In the first 3 months of this year, 1.5 million Canadians missed a payment on a credit card or a mortgage.

[00:05:10]Will the Prime Minister announce that he's reversing the inflationary, high-tax policies so Canadians keep their homes?

[00:05:17]The honorable uh Minister of Energy and the Natural Resources. Mr. Speaker, instead of the Leader of the Opposition lifting kettlebells, maybe he should come to [laughter] Kitimat and see where we're building new LNG facilities. Maybe he should come to Dease Lake where we're building the biggest mines in the world.

[00:05:33]Maybe he should come to Darlington where we're building new nuclear reactors.

[00:05:37]Maybe he should come to Nova Scotia where we're building new projects. Maybe instead of talking down Canada, he should start coming to see how we're building Canada. You're right.

[00:05:47]The honorable Leader of the opposition.

[00:05:49]Bringing [applause] down Canada, Mr. Speaker. It doesn't help the Canadians who can't pay their bills for the pri- for that minister to get up and take credit for projects that were approved 14 years ago, Mr. Speaker. Nor does it help when when the Prime Minister of Canada refuses to even stand on his feet and defend his disastrous economic record at a time when our households are by far the most indebted anywhere in the G7. Why? Because they block projects, because they've raised taxes, because they've caused inflation, and the highest housing costs in the entire group of seven nations. Will the Prime Minister reverse these inflationary policies before Canadians lose their homes?

[00:06:28]The honorable government house leader.

[00:06:30]Well, you know, Mr. Speaker, we know that while while this member asks all the questions, it's to save him writing the questions out for all of the other members of the bench that don't get to ask the questions. But while we're asking questions, when is that going to member going to answer why he would refuse saving thousands of dollars for Canadians on child care? When is he going to justify his opposition to reducing taxes for Canadians? When is he going to justify his opposition to creating the Canada Child Benefit? All of these things save Canadians thousands of dollars. Why is he against them?

[00:07:08]The honorable leader of the opposition.

[00:07:11]Mr. Speaker, the reason I'm asking you extra questions is cuz the Prime Minister only shows up once a week, and he won't get out of his chair and he answers them.

[00:07:18]Didn't like that. Didn't like that.

[00:07:19]Didn't like that.

[00:07:20]>> [applause] >> I would just ask the I would ask the opposition leader to be careful of that. We're getting very close to the edge there. You make the member may continue.

[00:07:42]Mr. Speaker, I know he's very fragile.

[00:07:44]He's not used to taking any difficult questions. But the reality is that Canadians cannot pay their bills. In the first year in office, he has driven up delinquencies, household delinquencies by 18%.

[00:07:58]He's given Canadians the worst household debt in the G7. Delinquencies have climbed by 32% year-over-year. And in Q1, we saw a 17-year high due to financial strains in Canadian household finances. Will he get off the backs of Canadians so they can pay their bills?

[00:08:16]The honorable government house leader.

[00:08:18]>> [applause and cheering] >> In the In the In the first year of this Prime Minister's tenure, we have the number one leading economy in the G7 for foreign investment. In the this Prime Minister's first year, we have approved major projects. We have approved mines.

[00:08:37]We have approved building. WE ARE TRAINING YOUNG CANADIANS. WE ARE BUILDING THIS COUNTRY BRICK by brick by brick by brick. AND THE BLAME CANADA BRIGADE CAN SIT OUT AND TAKE A SEAT, MR. SPEAKER.

[00:08:49]>> [cheering] [applause] >> THE HONORABLE leader of the opposition.

[00:08:55]>> [applause] >> Mr. Speaker, number one economy in terms of debt for households. Number one economy in the cost of housing. Number one economy in the cost of food inflation. Those are the only metrics on which the this government is leading.

[00:09:10]And they are number two when it comes to unemployment with that unemployment rate being a third higher than in the United States. And now, we see the delinquencies and the missed payments leading to a potential bankruptcy crisis while the Prime Minister sits and hides behind his backbench. Will he stand up, own up, take responsibility, and announce a reverse policy so Canadians can pay their bills?