FOR IMMEDIATE RELEASE
OTTAWA – November 5, 2026
WARKENTIN OPPOSES MARK CARNEY’S CREDIT CARD BUDGET THAT WILL DRIVE UP INFLATION TODAY, AND TAXES TO PAY FOR DEBT INTEREST TOMORROW
Today, the Liberal government tabled its budget. The budget adds a massive $765 billion in new debt. This means higher inflation and more interest on Canada’s debt. This represents an unprecedented explosion in government borrowing – in fact, it’s the largest borrowing spree in Canadian history.
Conservatives asked Carney to remove gas taxes to save Canadians 20 cents-a-litre and $1200 per family. Instead, there’s no gas tax relief, as Liberals plan to hike the fuel tax early next year.
Conservatives asked Carney to cut waste. Instead, the Liberals increased spending, with Budget 2026 adding a further $151.5 billion.
Conservatives asked Carney to keep his promise to reduce the debt as a share of GDP. Instead, he’s growing it.
Mark Carney has also changed Canada’s standard accounting practices in a way that isn’t recognized anywhere in the world or in the private sector. By cooking the books, he is keeping $476 billion in borrowing off the budget. This will make no difference in the end. Carney is still borrowing, and Canadians will still have to foot the bill.
The deficit is going to grow $62.3 billion this year, $62.5 billion next year, $57.6 billion the year after, $53.4 billion the following year, and another $52.9 billion the year after that. This is staggering. It’s no surprise that the fastest-growing item in the budget is debt interest.
“The goal of this budget should have been to save Canadians money,” said Warkentin. “Instead, it’s just more spending that will drive up the price of food, fuel, and housing.”
Warkentin added, “The Liberals have absolutely no plan to balance the budget. Mark Carney is pushing the burden of his spending onto our children and grandchildren. It is shameful, and my Conservative colleagues and I will not stand for it.”