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QUESTION PERIOD — Finance

2024 Fall Economic Statement

December 17, 2024


Hon. Donald Neil Plett (Leader of the Opposition) [ - ]

Leader, the shambolic and incompetent NDP-Liberal government must come to an end as quickly as possible. The Fall Economic Statement says your government has no plans to ever balance the budget. The guardrail of a $40-billion deficit will be exceeded both this fiscal year and next.

Anyone who thinks next year’s deficit will be only $48.3 billion is living in a fantasyland, Senator Cardozo.

The Prime Minister dropped this mess on Canadians yesterday and then had absolutely nothing to say about it. In fact, after the statement was tabled in the House, not a single cabinet minister was willing to speak about it. What leadership? They all need to go, don’t they?

Hon. Marc Gold (Government Representative in the Senate) [ - ]

Senator, you spend 99% of your questions making a speech and then you simply ask me a partisan question that I’m not going to answer. What I am going to say is that with regard to the Fall Economic Statement, I’m happy to stand here and provide some facts to this chamber as I think is my responsibility and our responsibility to consider. Notwithstanding the increase in spending — and the lines are there for all to read and study — the fact remains that we are continuing to have our debt-to-GDP ratio decline, with deficits forecasted to shrink from 1.6% of GDP today to just 0.6% in some few short years. This will help preserve our AAA credit rating and help maintain our ability to sustain whatever —

Thank you, Senator Gold.

Senator Plett [ - ]

Well, after the next election, Senator Gold, you can teach us all how to ask questions when you ask questions of the Leader of the Government.

The deficit is out of control, Senator Gold. The cost of living is out of control, Senator Gold. Our immigration system is out of control, Senator Gold. The border is out of control, Senator Gold. Crime is out of control, Senator Gold. Canadians deserve better than this chaos, don’t they, Senator Gold? When will there be a carbon tax election, Senator Gold?

Senator Gold [ - ]

Well, I know we both went to grade school and learned the difference between declarative sentences and questions, but there was a question at the end. I don’t know when there will be an election. For the moment, the government has the confidence of the House and therefore remains the government, and so long as it remains the government, it will continue to govern in the best interests of Canadians.

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