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Liberal Mismanagement: Canada’s Economy on the Brink

Despite the Liberal government’s claims of a strong fiscal record, Canada’s growth rate is a dismal 1.2% per year, far below the OECD average of 3.8%. This highlights a severe productivity crisis. While the U.S. GDP per capita increased by 3.6% between 2022 and 2023, Canada’s GDP per capita plummeted by over 5%.

Canadian government debt is now 107% of GDP, and household debt per capita is 132%. This mounting debt will inevitably burden Canadians.”

Greg McLean, M.P. – House of Commons – October 8, 2024

This decline is a direct result of the Liberal government’s failed economic policies and the influx of 2.4 million new Canadians, which artificially inflated GDP figures without improving per capita productivity. Over the past decade, Canada’s GDP per capita has nosedived from 98% to 66% of the U.S. level, marking a catastrophic decline.

Looking ahead, Canada must urgently improve its productivity and economic standing. Under the Liberals, Canada ranks 26th out of 35 countries in projected growth over the next decade, primarily due to excessive debt and inadequate education funding.

The Liberal government must curb its reckless spending and address inflation to prevent further economic harm. The Bank of Canada has been forced to lower interest rates three times consecutively, a clear indication of the government’s mismanagement and the country’s struggling economy, which is teetering on the brink of recession. Economic growth remains stalled at a mere 1.2%.

Canadian government debt has skyrocketed to 107% of GDP, with household debt per capita at 132%. This mounting debt will inevitably burden Canadians. The Liberal government must tackle this debt crisis and stop increasing the financial load on hardworking Canadians.

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Consult the official Hansard transcript.