Canada is the only G7 country currently experiencing a recession, with the economy contracting for three of the last four quarters, unemployment at the second highest level in the G7, and over $20 billion in net investment fleeing the country, raising questions about the effectiveness of current economic policies and the impact of global trade dynamics on Canada's economy.
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"Carney Has Some Serious Questions to Answer"Added:
The group of seven industrialized nations, they all face tariffs and global economic forces, but Japan is not in recession. The United States is not in recession. The United Kingdom's not in recession. France is not in recession. Germany is not in recession. Italy is not in recession.
The only G7 country in recession is Canada. Why is it that Canada under this liberal Prime Minister is the only G7 country in a recession today?
>> Hear, hear.
The honorable Minister of Energy and Natural [cheering] Resources. [applause] >> Mr. Speaker, the honorable member should do his economic homework. He should understand that Canada is the most integrated country in the world with the United States. They have declared a trade war on us. This side of the house understands that. We will control what we can control. That's why we're building new mines at Red Chris. That's why we're building new pipelines on Sunrise. That's why we're building four new mines in Saskatchewan, a uranium mine, a potash mine, and a copper mine. They should start to understand economics and try to help build this country instead of tear it down.
>> The honorable Leader of the Opposition.
>> [applause] >> Mexico shares a border with the United States and is as integrated with the US as as we are and Mexico is not in a recession. Only Canada in the or in all of North America, only Canada is in recession.
Not only that, since this for liberal Prime Minister took office, he's lost 46,000 jobs, 112,000 in the last three months alone. We have the second highest unemployment in the G7, a third higher than the US. The economy has contracted three of the last four quarters. Over $20 billion of net investment has fled the country. Five consecutive quarters of investment dropping. Mortgage delinquencies up a third, a high. Why are we the only country in a recession?
>> [applause] >> The honorable Minister of National Defense.
Mr. Speaker, the leader of the opposition should take notice of some of the facts.
For example, 3 and 1/2 thousand jobs annually being created with our joint support ships contract.
2,300 jobs to produce our AOP ships.
1,800 jobs for our fixed-wing search and rescue.
700 jobs for our remotely piloted aircraft system.
5,300 direct jobs for our River-class destroyers, Mr. Speaker. The list is very long.
The leader of the opposition should stop running down Canada and join us. Join us in our efforts.
>> [applause] >> The honor- The honorable leader of the opposition.
>> It's the Liberal Prime Minister that's running down our economy and then running away from accountability for it.
Where is he anyway? [applause] It's known now, it's been 4 days since Statistics Canada reported that Canada's the only G7 country in a recession and the Prime Minister has not answered one question. Not in this house, not from the media, not from anyone. The guy who said you hire him in a crisis, well now he's made a crisis. He's created the only G7 economy that's in a recession.
Instead of running away from accountability, why doesn't he run in here and do his job?
>> [applause] >> That That I think broke a rule. I mean, we're implying that somebody is not in the house when they could be.
Um I would just warn I would warn I would warn members against doing that because at some point I might have to dock questions.
Uh the Minister of Jobs and Families >> Thank you, Mr. Speaker. In fact, when the global winds of uncertainty were blowing, what did this government do? We took immediate action to put things into place to protect workers. In fact, if their jobs were threatened, if their economies were threatened, if their sector was threatened. And Mr. Speaker, every time we take action for workers to protect workers, these guys vote against it. Just recently, Mr. Speaker, $6 billion to skilled trades workers including apprentices in the pipeline right now to help make sure that they can complete their training and get those fantastic paying jobs. These guys are ignoring >> The honorable leader of the opposition.
>> [applause] >> Mr. Speaker, with Canada being the only G7 country in a recession, there are very real human cost. Today, they came to light as Food Banks Canada published a report giving this government a failing grade, indicating that 1/4 of all Canadians now live in food security.
A quarter of food banks have actually run out of food in the last year. Mr. Speaker, what is a single mother who can't afford groceries supposed to do when she gets to an empty food bank?
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