QUESTION PERIOD — Finance
State of the Economy
February 4, 2026
My question is for the government leader.
Government leader, even CTV is now reporting that Canada’s economy is on life-support and heading into a recession. After a decade of Liberal rule and nearly a year under the new Liberal rule, Canada is facing soaring debt, collapsing productivity and an exodus of investment approaching $1 trillion.
The result is clear: According to Statistics Canada’s latest real GDP figures, Canadians are on track to be poorer than the year before for the third consecutive year.
Senator Moreau, instead of doubling down on the failed Liberal record and more Band-Aid solutions, why won’t the Prime Minister join the Conservatives in legalizing rapid resource development, repeal job-killing laws and finally restore investment productivity and prosperity for Canadians? You copied our program just a few hours before the last election, which put you on that side. Why don’t you take this good advice, and maybe you might stay on that side?
We have been on the same side for quite a long time, and I think it is because we have good ideas. We are open to other ideas, as well, to stay on the same side, Senator Housakos.
As far as the economy is concerned, the Prime Minister is opening 2.2 billion new customers for Canada through strategic partnerships with the European Union, China and Qatar and new free trade deals with Ecuador and Indonesia. And for almost two years now, inflation has remained within the Bank of Canada’s target. It was at 2.4% recently, and interest rates are stabilizing at 2.25%.
The government is putting more money in the pockets of Canadians for their costliest expenses: housing and groceries. That is why we’re at the place where we are — and the place where you are, as well.
Government leader, stealing our ideas at five minutes to midnight before the last election is hardly a success story. In between elections, you go back to your regular line, and what did it do? It led to your previous leader being shown the door. We’re trying to save your current leader the same embarrassment by saying to stop waxing poetic about trying to spend your way out of the problems that your government has created through the years and start taking fiscally responsible steps.
Senator Batters says that those were Band‑Aids. I think that Canadians like Band-Aids, because they were voting for all of the measures the government was putting forward during the last election.
Again, I know that you don’t like the numbers, but inflation has remained within the Bank of Canada’s target for the last two years, and interest rates are stabilized. I think those are good economic measures and since —
Thank you, Senator Moreau.
