Sandra Cobena
Newmarket—Aurora, Ontario · Conservative · Canada
“Mr. Speaker, 100 years is a century of memories, service and stories. In Newmarket—Aurora, we are preparing to celebrate a very special milestone as our friend and local Second World War veteran Mr. Jeffrey Reynolds turns 100 years old on June 29.”
“Turning 100 years old is an extraordinary achievement, but it also carries even greater meaning when that life was dedicated to serving others before it had fully begun. I ask all members of the House to join me in wishing Jeffrey Reynolds a very happy 100th birthday.”
“They felt that they were the passengers, because the government was driving them into incredible amounts of debt that they would eventually inherit.”
“I heard from a small business owner on Davis Drive who is watching her customer base shrink because people simply do not have money left over at the end of the month. I heard from a senior on a fixed income who never thought he would have to choose between his bills and groceries.”
“However, the government members stand here and ask Canadians to trust them with the national finances, with a 1% chance of keeping their own promises. Let us not forget they revised this fiscal anchor after they already failed to meet their last one. I should mention I am splitting my time.”
“Even Mexico, which also shares a border with the U.S. and has been significantly impacted by tariffs, has managed to steer clear of a recession. When we are the only country in the world's 20 largest economies to be in a recession, that is a local policy problem.”
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“Mr. Chair, Canadians are struggling to buy groceries, and the CEO of the Canada Infrastructure Bank is getting paid close to $1 million. It is not delivering. Now the Prime Minister and the minister want to recreate this whole scenario with yet another bureaucracy and another set of executives who will get paid millions of dollars as well. Let us be transparent. How much will the minister pay the new CEO and board of this sovereign wealth fund?”
“Mr. Chair, I am not talking down anything. I am actually asking very simple questions, and I am getting zero answers. The transport committee has recommended that the Canada Infrastructure Bank be abolished because it benefited Liberal-appointed insiders and, in fact, failed to fill infrastructure gaps. Why are the Liberals doubling down on a failed policy and refusing to follow the gold standard practices of other sovereign wealth funds?”
“Mr. Chair, we actually have an example. The Liberals established the Canada Infrastructure Bank. It was supposed to support infrastructure projects that are in the public interest, and it cannot even deploy the $35 billion it was given because of regulatory roadblocks that the government creates. How can the minister pretend that this fund will be able to deploy the funds it will be given?”
“Mr. Chair, there are incredibly successful sovereign wealth funds around the world. The minister is choosing not to follow the example and is, in fact, doing the opposite. That is basic research. Why is the minister choosing to do that?”
“Mr. Chair, the reality is that the Liberal government will appoint a Liberal board. This fund will have borrowed money, no diversification and full political interference. Those are the characteristics of a political slush fund, so how can the minister call this a sovereign wealth fund?”
“Mr. Chair, on the one hand, the minister is saying it will not have political influence, but then, in the same sentence, he says “we” will ensure that it will be in the national interest, and “we” will decide which projects those will be. The reality is that Norway has zero political influence, and here the fund will have tons. My question to the minister is this. If the fund does not follow any of the traditional pillars of a traditional sovereign wealth fund, why did the minister tell Canadians that in fact it is one?”
“Mr. Chair, my question was about diversifying investments. I did not receive an answer. Norway does not, in fact, invest the funds domestically. The minister is proposing exactly the opposite, to invest only in Canada. My next question is this: Norway, which is the best-in-class example, ensures that the fund is free from political interference, so how can the fund be independent if it is prioritizing public interests selected by politicians like himself?”
“Mr. Chair, the minister did not answer the question. They will be borrowed funds, $25 billion in borrowed funds, whereas Norway funds it by surpluses. My next question is this: Norway also ensures diversified global investments, so how is this fund expecting the best-in-class returns without global diversification?”
“Mr. Chair, I will be splitting my time with the member for Calgary East . Norway's sovereign wealth fund is considered the gold standard, and its success is driven by reinvested budget surpluses and oil and gas revenue. Where is the $25-billion seed money coming from for Canada's fund?”
“Mr. Speaker, we can follow the money and we will know what the Liberal government really cares about. It has wasted $750 million on a failed gun grab, $300 million on the PrescribeIT scandal, $80 billion on interest payments for bankers and bondholders and over half a million dollars on the Prime Minister 's catering on flights. What was he having, gold flakes on his cappuccinos? Why will the Liberals not cut all taxes on gas for the rest of the year? Is it because they care more about Liberal insiders than everyday Canadians?”
“Mr. Speaker, the Liberal Prime Minister 's $1-trillion debt means more taxes, more costs and more of the same. After 11 years of Liberals, Canadians are now paying more on interest on our national debt than the government collects on GST and spends on health care. Why will the Liberals not follow our Conservative plan to cut all gas taxes for the rest of the year? Is it because they have lost control of their spending, or is it because they simply do not care?”
“Madam Speaker, the comparison to the Canada Infrastructure Bank is interesting. There was an entire study done on the Canada Infrastructure Bank at a committee, and it was recommended that it be closed down. We see by the statistics that it took seven years to be able to generate sufficient funds to even cover its operating costs—”
“Mr. Speaker, the reality is that we do not have a lot of details on the fund, yet we know that it will resort to borrowed money to fund the seed capital at first. We know that this makes no sense, because sovereign wealth funds function under an environment where they draw on real surpluses, where there is fiscal responsibility and where they are independent of political influence. Here, we would have the power concentrated on the prime minister because he would hand-pick the projects. There is no clear mandate on these projects. There is no fiscal transparency or discipline in the government. The fund will not work.”
“Mr. Speaker, I do not rely on theory. I rely on the examples that entrepreneurs tell me about. Here is just one. An entrepreneur in my riding applied for a permit to expand operations. He had a contract in hand. The permit took so long that he was at risk of losing the contract. He decided to fly down to the U.S. Within days, he got permits and grants. He walked across the street and got financing. He came back, and he still did not have an update on his Canadian permit. That is what is driving investments out of our country. We do not need announcements. We do not need a forum. We do not need thousands of trips around the world. We need to fix the fundamentals.”
“That should concern every one of us, because when entrepreneurs stop believing, growth stops, momentum stops and jobs leave. Here is some good news: Canada has everything it needs. It has talent, resources, ideas and people. However, what it needs is for the Liberal government to just get out of the way. That means lower barriers, faster approvals, a system that rewards hard work, and a country where investment flows, not because it is forced but because it makes sense. Canada is not a country in decline. It is a country being held back by the Liberal government. The moment we remove the barriers I have spoken about, and the moment we restore confidence, this country will grow, will build and will lead. Let us start by building wealth, because Canada has everything it needs to create it.”
“It is one where everyone has a chance, not just the people who are politically connected, not the friends of the politicians and not the individuals or corporations that are hand-picked by the government at the time. Success should be earned, not granted or hand-picked. Canada works best when it is open, when it is fair and when it is free. When that happens, Canadians do not just compete; Canadians lead. We have seen it before. Canada does not have a funding problem. It has a confidence problem. The Canadian Federation of Independent Business calls it the “entrepreneurial drought”, because for six quarters in a row now, more businesses have been closing than opening. Only 18% say that it is a good time to start a business.”
“Everything flows back to the prime minister. That is not how we attract investment. That is how we discourage it, because investors do not want more politics. They want certainty. They want clear rules. They want a fair process and equal opportunity. This is the bigger issue. Instead of unlocking Canada's potential, the Prime Minister has created 13 new government entities in just one year. That is more bureaucracy, more layers and more distance between Canadians and opportunity. Canadians are not asking for more government. They are asking for a government that unlocks our resources and unlocks our people. The best economy is not one where a few are chosen.”
“It is a bank that cannot sustain itself, but I will talk about what did deliver: $8 million in bonuses to executives in one year. Canadians are lining up at food banks, and insiders are lining up for bonuses. That is not investment. That is misaligned priorities. We can do better than this. Canada does not need more experiments. It does not need more bureaucracies, Crown corporations or transition offices. We need to get back to the basics. When we do, confidence in investment will come back. Here is a simple question: If a project is good enough to be supported, why not just approve it? Instead, the Liberal government wants another Crown corporation, another transition office and another layer where companies must seek political approval. This time it is even more centralized, because there is no truly independent investment board.”
“We do not need more bureaucracies or layers of complication. We need a country that believes in itself again. When we do, there is no limit to what Canadians can build. We have seen this movie before, and Canadians know how it ends. The Canada Infrastructure Bank, the Canada Growth Fund and the green slush fund or Sustainable Development Technology Canada, all have different names but the same promise, to trust them and they will unlock investment. After all that, Canada now has the worst investment record in the G7. Nearly $1 trillion has left our country since 2015, as per RBC. (1650) Let us consider the Canada Infrastructure Bank, for example. It was supposed to deploy $35 billion, but it is billions of dollars behind. After years in operation, it could not even cover its own operating costs for the first seven years.”
“Sovereign wealth funds like those in Norway or Saudi Arabia are built on surpluses. They unlock the resources. They generate wealth. They then invest it. In Canada, the Liberal government has been blocking our resources and delaying projects. We are losing investment. The Liberals then borrow money and they are trying to call it wealth. Canadians understand something simple, that we cannot tax and spend our way to affordability. They also understand that a government that cannot live within its means will never make life affordable for those who must live within theirs. They also understand something hopeful, that when Canada builds, Canada wins. We win when we say yes to projects, yes to energy and yes to innovation. When a government gets out of the way, opportunity, investment and prosperity follow. We do not need more illusions.”
“Let us look at the record: $1.3 trillion in debt, the worst housing affordability in the G7, the lowest investment per worker, food prices rising faster than anywhere else and, now, interest payments climbing to nearly $81 billion a year by 2030. That is over $3,400 per household just to service debt. This is not a foundation for wealth. Canada should be the wealthiest country in the world, but it starts with honesty. It starts with discipline. It starts with calling things by the proper name. This is not wealth, and Canadians deserve better. This plan reminds me of something. It is like someone maxing out their credit card and then calling their bank and saying that they did not spend it; they invested it in themselves. That does not work with one's bank and it certainly does not work for our economy.”
“Mr. Speaker, we cannot build wealth by going further into debt. A sovereign wealth fund requires one thing above everything else, wealth, and yet, after 11 years, the Liberal government wants to create a sovereign wealth fund using $25 billion of borrowed money on top of the $1.3 trillion of national debt. Let us call it what it is. This is not a sovereign wealth fund. This is a sovereign debt fund, and Canadians are the ones being handed the bill. Ask Canadians how wealthy they feel. Ask the 2.2 million Canadians relying on food banks. Ask the young families who have quietly given up on home ownership. Ask the parents who are trying to stretch every dollar to put food on the kitchen table. This is not what wealth feels like.”
“Mr. Speaker, we have seen the statistics. We in Canada now have had six consecutive quarters of more businesses shutting down than opening up. It is an entrepreneurial drought. Of course, these are the Canadians who have been grinding it out, opening early, closing late and making personal sacrifices. They cite regulatory uncertainty, delays in permitting and overtaxation. These are the Canadian dollars that are actually leaving the country. My question for the member is, does he think this fund will fix those issues?”
“Mr. Speaker, we have a contradiction today. We have a Liberal government that is celebrating bigger deficits while Canadians continue to struggle under them. Canadians are now staring down a $67-billion deficit that, two years ago, would have been unthinkable because, even under Justin Trudeau, the projection was half of that. This, of course, is not even the full picture because it does not include the $100 billion for submarines, which is the largest military procurement in our history. My question for the member is simple: Does he think that the Liberals will ever balance the budget?”
“Mr. Speaker, we have quite the contradiction. We have a Liberal government celebrating bigger deficits and an entire country struggling under them. Canada now faces the worst grocery inflation in the G7, the worst household debt and the highest housing costs, and lineups at the food banks are surging. There is nothing to celebrate about that. When will the Liberal Prime Minister commit to capping the deficit at no more than the already reckless $31 billion that the last guy left behind?”
“Mr. Speaker, we are seeing more debt, more spending, more taxes and more of the same. That is what the Liberals are toasting champagne to today. While Canadians are tightening their belts, the Liberals are celebrating massive deficits. This is the inflationary spending that will force Canadians to take on more debt and make real sacrifices just to get by. Will the Liberal Prime Minister end his costly credit card budgeting so Canadians can afford to live?”
“Mr. Speaker, entrepreneurs need a direct and clear answer. The CFIB estimates that the total regulatory cost of government is $52 billion. Businesses are burning through a collective 768 million hours annually on paperwork. Just this week, I met with businesses that have heard Liberal promises for almost a decade. They are asking if the Liberals could just leave the starting line and do something. Will the Liberals commit today to cutting their red tape taxes and government spending, so that businesses can actually thrive in our country?”
“Mr. Speaker, the CFIB has sounded the alarm on the entrepreneurial drought in Canada for six consecutive quarters. More businesses have shut down than opened up. The Montreal Economic Institute has said that “the heartbeat of innovation, job creation and economic growth...is in sharp decline”. Small businesses spend about 250 hours per year on red tape that could be eliminated, and it would not even cost the government a single dollar. Will the minister admit that the Liberals' tax-and-spend approach has failed and get out of the way so that our businesses can thrive?”
“Mr. Speaker, one month ago I introduced the stand on guard act, and yet today we still have no response from the Liberal government. Not a yes, not a no, just silence. Is silence really the best response that the Liberals can muster for victims of home invasions? Our Conservative bill is simple. If someone knowingly and unlawfully enters a person's home, the force used to defend their family should be deemed to be reasonable. A person's home is their safe place. It is where their children sleep, and it deserves special protection under our laws. After a decade of catch-and-release Liberal bail, Canadians are telling us that sense of safety is gone. They are asking for something simple: for the law to stand with them. They have received silence, and silence in this moment is not neutral but an answer in itself.”
“Mr. Speaker, every dollar that the Liberals hand out to fraudsters was first a dollar earned by and taken from a hard-working Canadian, but the Liberals do not want to answer questions on this matter. Shame on them, because in the past 10 years, $37 million has been paid out in the gold mine scandal, and there has been $40 million in bogus claims in 2023 and another $6 million in 2024. However, if a Canadian misses $100, the CRA comes down hard on them, and it takes months to correct. How can anyone have any confidence in the Liberal government if this is how—”
“Mr. Speaker, the CRA paid out a $5-million return to a fraudster who typically earns $50,000, despite its having identified clear red flags. Even more concerning is that this happened six months after the finance minister appeared before committee to testify on the CRA's history of issuing millions of dollars of payments to fraudsters. He assured Canadians that the safeguards would be in place. Did the CRA, once again, issue a $5-million return on a clearly fraudulent claim under the Liberal government's watch, yes or no?”
“Mr. Speaker, when it comes to the budget, I do not believe that the government should be benefiting from a surge in prices and taking in this tax revenue at the cost of Canadians. The government had the opportunity to budget properly, to lower expenses and to attempt to balance the budget in that way, not at the cost of Canadians.”
“Mr. Speaker, we are in a time when Canada has big problems, and we need to address them immediately and thoroughly. With our proposal today, we are outlining a wholesome proposal to address the affordability problem and the rising cost of gas that every Canadian across our country feels. As I mentioned, Canadians feel it at the grocery store and then feel it again at the pump. It follows Canadians who do not have a choice but to go to work and drop off the kids at school. These costs impact Canadians all day, every day.”
“Mr. Speaker, we are calling for long-term, permanent solutions to affordability. Programs and handouts do not address long-term affordability issues. They do not target the cost of living. A handout will not address the cost of living. This is something the member must understand. What Conservatives are calling for are permanent, long-term solutions, removing the taxes that are driving up the cost of everything, encouraging hard work and encouraging Canadians to actually keep their money, to be responsible, to open up businesses and to create wealth. That is how we grow the economy permanently, not through short-term programs. The reality with the program the member opposite mentioned is that only one out of 20 kids benefits from it.”
“Give Canadians a real break at the pump, cut all taxes on gas and diesel for the rest of the year and start putting money back where it belongs, which is in the pockets of the people who earned it first, because in this country, the Liberal government should not profit from the hardship of its people.”
“Today, a simple trip to the grocery store can cost $300 for two bags of food, then we go to the pump and get hit again. Canadians are tired of being squeezed, of being told this is normal and of being told to trust the Liberals to restore affordability. Whom is this affordability for? Where are the homes the Liberals promised? Very few people in my riding benefit from the grocery credit, while everyone pays more at the pump and for groceries. My neighbours want the government to have the humility to understand one simple truth: It cannot spend its way to affordability. Each dollar spent by the Liberal government was first a dollar belonging to and taken from hard-working Canadians. Let us do the right thing.”
“There was a time in this country when seniors could retire with dignity, when they could trust that what they had saved was enough and that their government would protect, not erode, their standard of living. However, today inflation is eating away at those savings, and rising costs are forcing impossible choices. Do seniors fill the tank, or do they fill the fridge? Do they visit their grandchildren, or do they stay at home to save gas? This is not the Canada they built. It is not just our seniors. Young families are feeling it too. Parents are looking at their children, and they asking what kind of country they are leaving behind, because they remember a different Canada, a Canada where we could afford groceries, we could afford gas and we could afford a life.”
“The Liberal government, of course, is raking in billions in profits. Canadians are left paying for the Liberal government's reckless fiscal irresponsibility. This weekend, I spoke with a couple in my community whom I have known for nearly 20 years. They are seniors, and they still live in the same home that I used to visit when I was in high school. They told me that they needed to return to work, as their pensions are no longer enough to cover basic essentials. Their pensions do not go as far. Their grocery bills have doubled. Their gas bills keep climbing. After a lifetime of work, they have had to go back to work, not because they want to but because they have to.”
“They are saying clearly and firmly to stop taking so much in the first place, because affordability does not come from handouts. It comes from letting people keep what they earn and from building an economy that actually works. The Prime Minister has doubled the deficit run by Trudeau. Now, with gas prices soaring, he is clinging onto the expected billions of dollars in additional revenue to make a tiny dent in his projected $80-billion deficit. The Liberals' announcement affects only a third of the taxes on fuel they collect, for a third of the year. The unchanged impact is the GST on fuel costs of seven cents per litre and other taxes. While the Liberal government could have budgeted but did not, Canadians are paying higher gas prices for which they could not have budgeted.”
“That is because for years the Liberal government has blocked development, discouraged investment and choked growth in our energy sector. It continues to do so. Basic economics tells us that when costs go up, prices go up, and when supply is constrained, prices go up as well. Canadians are living that reality every single day. If we layer on the years of excessive spending, the deficits piled on deficits, and a dollar that does not stretch the same way it used to, what is the result? It is higher fuel costs, higher food costs and lower purchasing power. (1200) The Liberal government says, “Trust us. We will take your money but will give it back at some point.” Canadians do not want a middleman taking a cut. Canadians do not want affordability filtered through Liberal bureaucracy.”
“While it stands to take billions of dollars in additional revenue from higher gas prices it did not budget for, Canadians are being crushed by increasing grocery bills and gas prices they have not budgeted for. The Liberals respond by saying that this is a global problem and that it is sort of out of their control, but Canadians know better. When we look at the facts, we see that this is not just a global problem. It is a made-in-Canada problem as well. Canada has the highest food inflation in the G7, in a country with some of the most fertile land on earth. We have the highest food inflation among our peers. The same is true for energy. Canada is one of the most resource-rich countries in the world. We have massive oil and gas reserves, yet Canadians are paying some of the highest prices.”
“Other countries, such as Australia, Spain, Ireland, Italy, Germany and Austria have already moved to provide direct relief at the pump. They immediately lowered fuel taxes. They stepped back and gave their people breathing room, because in extraordinary times, government should take less, not more. Therefore, I reiterate our entire ask for the rest of the year: Give Canadians a break, drop all federal taxes on gas and diesel, and let Canadians keep more of what they earn, because they need it now more than ever. The government promises its programs can deliver affordability, but it is an economic truth that a government cannot spend its way to affordability. Each dollar spent by the Liberal government was first a dollar that belonged to and was taken from a hard-working Canadian.”
“Therefore, when Canadians walk into the grocery store, they are paying not just for groceries but also for failed Liberal government policy, which continues today. Conservatives are happy we were able to force the government to cut some of the the taxes on fuel, but these measures hardly satisfy even a quarter of the affordability measures we have demanded. Not only that, but these half-baked measures are only for the summer. Clearly the Prime Minister is buying a short-term political win while leaving Canadians with a long-term affordability crisis. We have all known for some time that the Liberal affordability crisis is not seasonal, so Canadians are asking a simple question: Why is the Liberal government profiting while Canadian families are struggling?”
“Mr. Speaker, right now Canadians are being hit twice, first at the grocery store and then at the gas pump. Canadians are paying close to two dollars a litre for gas, a 35% increase that follows them everywhere: to work, to school and to the people they love. Here is what makes it worse: While Canadians are paying more, the Liberal government is profiting more. Because of rising gas prices, the federal government is expected to take in billions of dollars in additional tax revenue, which is money it never budgeted for. While it rakes in the profits, Canadians are left with higher bills they did not budget for. Let us be clear. This does not stop at the pump. Higher fuel costs ripple through everything. They raise the cost of shipping. They raise the cost of farming. They raise the cost of food.”
“Mr. Speaker, there was no acknowledgement of two dollars per litre gas and no solutions to address it. What we hear is, “We are looking into it, we are following the issue or we are just patting ourselves on the back for something.” While the Liberals are raking in the profits, families are paying more at the pumps, at the grocery store and just to get by. When will the Prime Minister start acting by immediately adopting our Conservative plan to drop federal taxes on gas and diesel for the remainder of the year so Canadians can have a break at the pump?”
“Mr. Speaker, with gas prices soaring, the Liberal government is now expected to receive up to $9 billion more in revenue from higher oil and gas prices. This is revenue it never budgeted for, but for Canadians, these are higher costs they never budgeted for. It means higher prices at the pump, at the grocery store or just to get by. Will the Liberal government commit today to dropping the 25¢ per litre tax on gas for the remainder of the year, so Canadians are not being punished while the Liberal government profits?”
“Mr. Speaker, when it comes to taking responsibility, the Liberal government has a long record of making excuses and getting very few results. After 10 years, Canadians are carrying record household debt, they are facing the highest food inflation in the G7 and they are living in the only shrinking economy in the G7. These are the consequences of policy choices that have driven up costs and made it harder for businesses to grow and create those jobs. When will the Prime Minister cut his taxes, slash red tape and empower our businesses so that Canadians can get back to work?”
“Mr. Speaker, according to Statistics Canada, over 100,000 jobs were lost in the first two months of this year. Today, Algoma Steel will be laying off 1,000 workers. These are families who are now left wondering how they are going to pay their bills and put food on their tables. After years of warning signs, the Liberal government continues to impose policies that weaken our competitiveness and cost Canadian jobs. Will the Liberals explain why they have given Canada the second-worst unemployment and the only shrinking economy in the G7?”
“The Liberals have failed to provide a plan to combat the regime in Tehran and their predations in Canada, so we have done the work for them because Conservatives believe that Canadians deserve to feel safe here at home.”
“Mr. Speaker, there have always been conflicts abroad, but we have never seen them spill onto our streets the way they have under the Liberal government. Last week, three synagogues were shot at in the GTA, and now an Iranian dissident has gone missing, which is being investigated as a homicide. Today we are calling on the Liberals to table a plan within one week to do the following: enforce deportation orders for regime officials and close the loopholes that allow them to stay here in Canada, coordinate Canada's Iranian sanctions to ensure effective compliance, end the regime's money laundering efforts here in Canada, evaluate Canada's terrorism threat level, identify any gaps in Canada's national security legislation and, finally, complete Canada's foreign influence registry.”