Carney’s Costly Budget Mortgages the Future and Drives Up the Cost of Living

Ottawa, ON – Grant Jackson, Member of Parliament for Brandon–Souris, says the federal budget delivered by Mark Carney and the Liberal government is another blow to hardworking Canadians who are already struggling to afford food, housing, and everyday essentials.

“This budget will drive up the cost of living on every Canadian — on food, on homes, and on everything else Canadians buy,” said MP Jackson. “Mark Carney promised a ‘generational investment,’ but all he’s delivered is a generational burden.”

In his first budget, Mark Carney broke every promise he made just six months ago:

• He promised to keep the deficit at $62 billion — it’s now $78 billion.

• He promised to lower the debt-to-GDP ratio — instead, both debt and inflation are rising.

• He promised to spend less — but is spending $90 billion more, equal to $5,400 in additional inflationary spending per household.

• He promised to help municipalities cut homebuilding taxes in half — this budget breaks that promise, guaranteeing higher housing costs.

• He promised more investment — yet the budget shows that investment is collapsing.

Under this plan, Canadians will spend more on debt interest than the federal government will send to provinces for health care. Interest payments will reach $55.6 billion this year — more than both the Canada Health Transfer ($54.7 billion) and total GST revenue ($54.4 billion).

“Every dollar this government collects in the GST goes to bankers and bondholders instead of doctors and nurses,” added Jackson. “That’s not leadership — that’s failure.”

Over the next five years, Carney’s budget will add $321.7 billion to the national debt, more than double the $154.4 billion that Justin Trudeau would have added in the same period. Canada’s total federal debt now sits at $1.35 trillion, with the budget adding $10 million every hour.

“Under this Liberal government, Canada’s economy is stagnating — real GDP growth is just 1.1%, the second lowest in the G7, and unemployment is expected to average 6.4% over the next five years,” said Jackson. “Meanwhile, the Industrial Carbon Tax remains in place, driving up the cost of food, fuel, and fertilizer.”

Conservatives will oppose this costly, deficit-driven budget and present an amendment to:

• Boost take-home pay and make life affordable;

• End hidden taxes on food, fuel, and farming;

• Cut wasteful spending and open Canada up to new opportunities; and

• Get rid of red tape so we can build affordable homes faster.

“Canadians don’t need more taxes or more bureaucrats,” Jackson said. “They need a government that works for them — one that restores hope, builds opportunity, and delivers an affordable life for every Canadian.”

“We call on the Prime Minister to work with Conservatives to support a positive, hopeful, and affordable future for all Canadians.”

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