COLUMN: On Parliament Hill – Why Conservatives could not support the budget

By now, most of you would be aware of the nail-biting vote that took place this past week. As you know, the budget passed—meaning we will not head into a Christmas election. But its passage should not reassure anyone. In fact, this budget raises serious concerns for Canadians, and for the future generations who will follow. Tax Guru Kim G. C. Moody tweeted bluntly calling it “a horrible budget that will cripple our future generations.”

In the days leading up to the vote, I received several letters urging me—and the Conservatives— to support the Liberal government budget. Their reasoning was simple: avoid an election at all costs, regardless of direction, vision or lack of accountability. The writers of these letters were encouraging blind support. Blind support that would gravely impact Canadians, driving up costs and inflation even more. In good conscience, I could not do that. Conservatives did not vote for this budget.

Make no mistake, this budget represents the costliest deficit outside of the COVID era. Released 570 days after the last budget, it projects a $78 billion deficit – $16 billion more than Prime Minister Carney promised during the election and double the deficit that his predecessor, Justin Trudeau left behind. For clarity, a deficit is the amount the government spends beyond its annual revenue; debt is the accumulated total of all past deficits. The current federal debt is at $1.35 trillion and interest alone for 2025-26 will be $55.6 billion. To put that in perspective, we will spend more on interest than we collect in GST revenue, which totals $54.4 billion annually – or $3,360 per Canadian household. In effect, every dollar the Liberals collect from GST, goes to bankers and bondholders instead of doctors, nurses and essential services. We are also paying more to carry our debt than the $54.7 billion that is transferred to the provinces for health. And still, this Liberal budget adds $10 million to our debt every single hour.

Conservatives pressed for a responsible budget. That is why Conservatives provided the Prime Minister with a clear list of priorities we would like to see addressed. We called on the Liberal government to present an affordable budget that cuts taxes and restores fiscal discipline. Our plan is simple: stop waste, cut taxes, and grow the economy so Canadians can get ahead. Yet, every recommendation was ignored, and the Prime Minister instead proceeded with his unaffordable budget that offers no relief for families.

Over the past couple weeks, Canadians heard the non-partisan “interim” parliamentary budget officer (PBO) use words like “stupefying,” “shocking” and “unsustainable” to describe Ottawa’s spending. This past Friday, the PBO released another report specific to the budget itself. It raised serious concerns about the government’s lack of fiscal anchors and criticized its “overly expansive” definition of capital spending, pointing to a $94-billion discrepancy.

Equally troubling was the warning issued by Fitch Ratings, one of the world’s top credit agencies, which highlighted the threat this budget poses to Canada’s credit profile and the ongoing erosion of federal finances. Today, Canada’s total government deficit is more than eight times higher than the pre-pandemic average.

Sadly, this budget will make life harder for Canadians.

But I want to assure you, Conservatives are not giving up. We will continue to call on the Prime Minister to work with us to support a positive, hopeful, and affordable future for all Canadians. My commitment remains unchanged-bringing hope back to Canadians.