"If Carney Doesn't Change This, Canada Will Be In Trouble"

Añadido: 2026-05-06

[00:00:00]After 11 years of this liberal government, everything costs more.

[00:00:05]Work doesn't pay, housing costs have doubled and our food bank lineups go around the block.

[00:00:10]That is because the liberals were elected on the illusion that they could spend money we did not have without consequence and that they could borrow and print endlessly to pay for it.

[00:00:18]Central bankers like Mark Carney made the appalling and embarrassing error of saying, "If you run out of money, just print more. It's free." Well, it wasn't free. Carney's advice gave both the UK and Canada the worst inflation in 40 years. Of course, Brookfield's profits were expanded and inflated, but so was the cost of living for everyone else.

[00:00:38]Doubling the national debt in the last 10 years as the liberals have done simultaneously doubled housing costs and food bank lineups. It gave higher inflation and more pain. Bankers, billionaires, and bureaucracies got rich off all the printed money and everyone else got poor.

[00:00:55]Printed money for liberal deficits bid up the cost of everything. The more they spend, the more things cost. Most of the spending went to welfare for the well-connected and the well-off while workers, small businesses, and seniors paid the price.

[00:01:08]Tomorrow, the Carney liberals will double down on the costly credit card budgeting that got us into this mess in the first place. They will pay for their uncontrolled spending on the national credit card driving up the cost of living and forcing Canadians to pay for their expenses on their personal credit cards.

[00:01:24]When Mark Carney became Prime Minister, last year's deficit was projected to be $42 billion.

[00:01:32]Now, we expect it to be as much as $60 billion. When he became Prime Minister last year, this year's deficit was projected to be $31 billion.

[00:01:43]Now, it could be well over $50 billion.

[00:01:46]So, tomorrow we will learn how much higher it is under Carney than it was under Trudeau, but expect an illusion.

[00:01:54]Carney will ask you to shower him with praise because with a little help from accounting revisions and inflated revenues, he will report that he grew the deficit a little bit less than he first expected. Either way, he's running bigger deficits than Justin Trudeau. No one thought it was possible for anyone to be more reckless than Trudeau until this Prime Minister came along and said, "Hold my champagne."

[00:02:21]The growing deficit is not the result of tariffs but of the $90 billion of net new spending Mr. Carney has brought in above and beyond promised savings and above and beyond the spending Trudeau was already doing.

[00:02:34]2/3 of that new spending is going to day-to-day operations, not investments.

[00:02:38]Operating spending is up 9.1% according to the February fiscal monitor. That's just in 11 months, by the way.

[00:02:47]And so, the money's not going to investment. What we're seeing with Carney's costly credit card budgeting is more debt, more costs, more taxes, more of the same. Mark Carney is just another liberal.

[00:02:58]He's driving investment out of our country and don't ask me to prove it.

[00:03:03]Just read the Financial Times, which issued a damning piece on Mark Carney's economic record one year in. I'm quoting, "Canada's leading industry groups say Prime Minister Mark Carney's efforts to cut red tape is floundering, costing the economy billions more in trade losses than President Trump's tariffs." Derek Nighbor, president of the Forest Products Association, said, "Quote, over the past decade, overlapping government policies, mostly environmental regulations, have chilled strategic investments and become a productivity and a competitive competitiveness killer, driving away investment." Quote, "I've heard of resource projects that require hundreds of permits due to federal, provincial, and municipal governments," said David Pearce, the Canadian Chamber of Commerce vice vice president of government relations. Dan Kelly, the Federation Canadian Federation of Independent Business President, said, "The regular regulatory reform agenda, quote, remains stalled. Ottawa is focused on helping a few big players while with every other unwatched business owner stuck in the old unworkable system." He cites $51 billion in annual compliance costs in Carney's Canada. And then there's Carney's illusion. Let me quote here, "There's there's been a disconnect between statements and implementation," said Brian Kingston, president of the Canadian Vehicle Manufacturers Association.

[00:04:31]The most damning part of the article is this, "Quote, this week, Rogers Communications, one of Canada's top two telecommunications companies, announced approximately a billion dollars worth of spending cuts or 30%, blaming it on punitive regulatory environment."

[00:04:47]Another Carney failure, also reported by the Financial Times. Good to see the the the overseas media is willing to cover the reality here. In November of last year, Saskatchewan-based Nutrien, the world's largest potash fertilizer producer, announced plans to build a 1.

[00:05:04]a $1 billion port in Longview, Washington over Canada's west coast, citing regulations as a key factor.

[00:05:13]Finally, Financial Times says a mine in Canada takes 20 years to build according to S&P Global.

[00:05:20]Oh, they also point out that a tentative agreement signed in November between Ottawa and Alberta to build a million barrel a day pipeline missed an April deadline. Industry blames regulatory hurdles, a costly decarbonization requirement, and the lack of clarity around carbon pricing.

[00:05:37]Some of the countries around the world, you will note, have sovereign wealth funds.

[00:05:42]You need to have wealth for those funds.

[00:05:45]Norway, Singapore, and Saudi Arabia run big budget surpluses, which they accumulate and then put in to their sovereign wealth funds.

[00:05:57]Carney has no surplus and therefore no wealth to put in such a fund. He's talking about a sovereign debt fund.

[00:06:07]He wants to put another $25 billion on the national credit card to gamble on a liberal slush fund that will enrich liberal insiders at the expense of hardworking Canadians.

[00:06:18]How many corporate welfare agencies do the Trudeau-Carney liberals need to create before they learn that it doesn't work?

[00:06:25]They have the Canada Infrastructure Fund. Remember the Infrastructure Bank?

[00:06:29]Remember that was going to invest in all these projects? What happened with that?

[00:06:33]There's a new Defense Industry Bank.

[00:06:34]There's the Canada Growth Fund and countless sub-departmental agencies that liberals have created and grown over the last decade to give us the worst investment and growth in the G7. And here we are.

[00:06:46]It's déjà vu all over again.

[00:06:50]Borrowing yet another $25 billion out of the economy to subsidize projects that the the government still cannot figure out how to approve will only cost hardworking Canadians. Multinational corporations get the profit, taxpayers will get the loss. Let's ask some basic questions. Who will get the money? Small and medium-sized businesses? Of course not. It will be the billionaires and bankers that will go to Mark Carney's elite summit coming up in September.

[00:07:18]They will again get rich making everyone else poor.

[00:07:21]That guarantees small businesses and entrepreneurs get shut out and politically powerful corporations get carve-outs, handouts, and bailouts.

[00:07:31]And here's another question. If a project has a business case, why would the government need to fund it?

[00:07:37]If it doesn't have a business case, why would the government want to fund it?

[00:07:42]And why can't projects get funding now?

[00:07:44]Is it because investment doesn't exist?

[00:07:46]Of course not. There's a trillion dollars of investment from Canada now invested outside of Canada according to Royal Bank. In fact, Statistics Canada reported in Q3 of last year that trusteed Canadian pension funds held 1.33 trillion dollars in foreign assets. That is a majority of Canadian pension funds are now invested outside of Canada. There are more Canadians opening businesses out of Canada than in Canada. The investment exists. It comes from our country. It just can't get a return in our country.

[00:08:25]Putting another $25 billion on the national credit card to pad a liberal slush fund will not change that. What we need is for the liberal government to get out of the way.

[00:08:36]Get out of the way and repeal the anti-resource law C-69. Get out of the way and repeal the ban on shipping oil off the BC coast. Get out of the way and scrap the industrial liberal carbon tax.

[00:08:48]Get out of the way and approve a pipeline to the Pacific by this summer.

[00:08:52]Get out of the way and unlock and unblock our economy. That is how we will make Canada the richest, most affordable country anywhere on Earth. That is how we will make Canada affordable at home, safe at home, and strong at home. Thank you very much.