QUESTION PERIOD — Finance
Fiscal Accountability
March 11, 2026
Government leader, your government claims to be fiscally responsible, promising $60 billion in savings over the next three years, but these so-called savings are already spent and then some. Budget 2025 still projects deficits of $78.3 billion this year, $65.4 billion next year and $63.5 billion in the following year. Why is your government misleading Canadians by claiming fiscal prudence when your own budget shows no real intention to restrain spending or to reduce debt?
It is clear that we will always disagree on the way the government is handling the budget. However, the mandate of the government is quite clear, and the government is acting according to the mandate it received to spend less and to invest more, to create jobs for Canadians, to bring affordability to all Canadian families and to ensure that Canada continues, despite the world economic situation, to have a very strong economy.
So far, in the G7, Canada is among the best with regard to many of these issues. Earlier, I answered your colleague, saying that we probably have one of the strongest economies in the G7. That is because of the current government and governments over the last 10 years. You like to refer to the last 10 years —
Thank you, Senator Moreau.
Leader, the numbers just do not add up if we do basic arithmetic.
Senator Moreau, no sane person would claim to their spouse that they’re improving the family’s finances by finding a few savings while still overspending and adding to the family debt. So why should Canadians believe your $60 billion in savings is fiscal discipline when all your budget delivers is deficit and rising debt?
I will repeat what I said to Senator Smith earlier: It’s worth noting that S&P Global recently affirmed Canada’s Triple-A rating.
Do you know how many Triple-A ratings there are among the G7? Just two, and Canada is one of them. We have this rating despite trade uncertainty. They specifically pointed to our strong institutions, monetary policy and moderate government debt level. I think it speaks for itself.
