Conservative Leader Pierre Poilievre delivered a scathing critique of the federal Liberal government's 2025-26 fiscal plan during a press conference in Calgary, labeling it a "credit card budget" that will plunge Canada deeper into debt.
Budget Deficits and Economic Concerns
Speaking at the Delta Hotel in downtown Calgary on Wednesday, November 12, 2025, Poilievre argued that the Liberal government under Prime Minister Mark Carney has broken every promise made during the election campaign. "No one thought anyone could spend more money than Justin Trudeau," Poilievre stated, "but Mark Carney said, 'hold my beer' and he came along with a deficit that is twice the size of the one that Justin Trudeau left behind."
The Liberal government tabled its 2025-26 budget in the House of Commons last week, marking their first fiscal plan under Carney's leadership. Despite passing two confidence votes, the budget still requires final approval when Parliament reconvenes next week. The minority government needs support from at least two opposition MPs to avoid triggering a snap election.
Spending Increases and Service Cuts
The proposed budget includes $141 billion in new spending over the next five years, with $51 billion allocated specifically for infrastructure projects. To partially offset these expenditures, the government plans $50 billion in cuts affecting 40,000 civil service positions.
Despite these cuts, the budget still projects a $78.3-billion deficit - a fiscal shortfall that Poilievre warns will burden future generations. "After 10 years of Liberal inflation, they've doubled housing costs and doubled line-ups at food banks," he argued during his 15-minute address.
Housing and Economic Impacts
Poilievre specifically targeted housing affordability and food inflation, arguing that the Carney government has failed to deliver on key election promises despite being in power for eight months. "When you borrow and print money, you drive up the cost of everything and destroy the working class," he asserted.
The Conservative leader emphasized that "for the first time in the history of Canada, our young people cannot afford homes" - a situation he attributes to Liberal economic policies. While acknowledging that Carney's government repealed the consumer carbon tax and approved Bill C-5 to fast-track infrastructure projects, Poilievre criticized the Liberals for maintaining what he called "nine bad laws" that hinder oil and gas production and pipeline construction.
Among the legislation Poilievre referenced was the ban on oil tankers off the west coast of British Columbia, which remains in place despite Conservative calls for its removal. The press conference marked Poilievre's first public comments since the budget was introduced last week.
