Canada's Economic Contraction Sparks Political Debate
Statistics Canada reported two consecutive quarters of GDP contraction, with Q4 2025 down 1% and Q1 2026 down 0.1%, meeting the technical recession definition.
Poilievre cited financial distress indicators, including a 19% year-over-year rise in insolvency volumes from Equifax and 10% of Greater Toronto Area residents using food banks per Daily Bread report.
Finance Minister François-Philippe Champagne defended the government's economic record, highlighting planned generational investments in housing, infrastructure, and innovation.
Projections suggest the Bank of Canada will keep interest rates steady, with some economists arguing a recession term is premature due to marginal GDP declines.
2 hours ago