QUESTION PERIOD — Finance
Federal Deficit
November 28, 2023
My question is for the government leader.
Leader, the 2023 Fall Economic Statement states the following, and I quote:
Over the past three years, despite a volatile global economic environment, the government’s responsible economic plan has enabled year-end financial results to consistently better annual deficit targets.
However, according to the economic statement, deficits in the coming years will be nearly double those projected in last March’s budget. In fact, the deficit will reach $27.1 billion in 2026-27 and $23.8 billion in 2027-28, whereas eight months ago the forecasts were $15.8 billion and $14 billion for those same years.
Leader, did the minister reread her economic statement before delivering it?
In this phase of the plan it has implemented, the government continues to ensure that our economic development is benefiting everyone. I am told it is working well. Over 10 million Canadians are working right now, in contrast to the period before the pandemic. Inflation continues to fall, and pay gains for workers are outpacing the rate of inflation. According to private-sector economists, it is quite possible, if not probable, that we will avoid the recession that was predicted not so long ago.
Leader, you did not answer my question.
The minister mentioned in her economic statement that she is still hitting her targets and even exceeding them. However, the economic statement says that the deficit will be twice the amount she announced.
My question was simple: Did the minister reread her speech before delivering it?
The statement highlights the government’s priorities. There are two major challenges the statement responds to: action to support Canadians, and action to address the housing crisis.
