Conservative MP presses Liberals on deficit spending as debt interest costs climb

A Conservative MP challenged the Liberal government Thursday over what he called 11 consecutive years of deficit budgets, citing a Bank of Canada statement that inflation is rising and economic growth is slowing, and a Parliamentary Budget Officer finding that interest on the national debt is the fastest-growing federal expense.

Calgary Crowfoot MP Pat Kelly pressed the government to end what he described as "inflationary deficit spending," telling the House of Commons that the rising cost of government was driving up the cost of living for Canadians. Whitby MP Ryan Turnbull, parliamentary secretary to the minister of finance and national revenue, responded by defending the government's affordability record and attributing inflation partly to the war in the Middle East.

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"The cost of government is driving up the cost of living, and these Liberals have broken every fiscal promise, smashed through every fiscal guardrail, and cut loose every fiscal anchor they've ever set," Kelly said. "So for 11 straight years, they have tabled deficits. When will this government finally stop its inflationary deficit spending?"

Turnbull, who represents the Ontario riding of Whitby, did not directly answer Kelly's question about when deficit spending would end.

Instead, Turnbull said the government believes in the independence of the Bank of Canada and its monetary policy, and said inflation is "being driven by the war in the Middle East." He said the government has cut taxes on income, housing, fuel and new business investment, and has expanded federal benefits including the Groceries and Essentials Benefit.

"We're stepping up every single day in this House to offer more affordability supports for Canadians when they need it most," Turnbull said. "That's how you build Canada strong. That's how you support Canadians."

The exchange reflects a long-running dispute in the House over federal fiscal management.