QUESTION PERIOD — Finance
Economic Growth
November 25, 2025
Honourable senators, my question is for the Leader of the Government in the Senate.
Senator Moreau, the Bank of Canada announced that Canada is currently caught in a vicious circle of weak productivity that is impoverishing Canadians and weakening our economy. Nicolas Vincent, the external Deputy Governor of the Bank of Canada, has openly criticized your government’s track record, which involves over-regulation, long approval processes and a lack of competition in key sectors. This comes as no surprise: That is what happens when a government over-regulates, over-taxes and causes businesses to lose confidence.
Senator Moreau, after 10 years in office, why has your government still not managed to create an investment climate and the right conditions for real economic growth?
Thank you for the question. Last week in Question Period, I reminded senators that a new government was elected in April and that the first bill it introduced was one that seeks to promote major projects by removing the barriers inherent in implementing such projects.
I think that the government is extremely aware of the importance of expediting projects, investing in the economy and investing more and spending less to grow the Canadian economy, increase funding for infrastructure and affordable housing and create jobs for all Canadians in all sectors.
What we need to understand about the Bank of Canada is that it is basically an economic watchdog. The government is very aware of its obligations and the direction that it needs to take.
It’s the former Liberal government with a new Prime Minister, but the result is the same.
Leader, the Nutrien company’s decision to move billions of dollars to the United States clearly shows what investors think about Canada’s business climate. Canadians can’t afford to listen to lip service any longer; they need action. Does the Prime Minister really want to build a more competitive, affordable economy, or is he as indifferent as he seems about repairing our trade relations with the United States?
The new Liberal government replaced the former Liberal government, and that’s the decision that Canadians made during the last election, Senator Housakos. I understand that it’s not the outcome you wanted, but it’s the democratic choice of Canadians.
The government is committed to ensuring that Canada has a strong and resilient economy, which is why this government, all of its departments and the Prime Minister are investing so much effort in the process.
