English transcript

In Q3 2025, the economy grew at an annualized rate by 2.6 percent.

We have economists saying that today's numbers are so nominal they could be forecasted away

and revised away.

So, aren't you jumping the gun a little bit, calling this a full-blown recession?

Right.

So, I know that there's a lot of excuses being made for Mark Carney today, and I'm not surprised.

By the way, which outlet are you with?

The Hilltimes.

Is 2.6 percent economy growth an excuse, or is that just the numbers?

It's actually, there's no 2.6 percent economic growth.

The economy, if I could, if I could.

So you're having to go back?

How many quarters are you having to go back now?

Two quarters.

So you're having to go back.

Okay, so let's get this straight.

There's been four quarters since Mark Carney became Prime Minister.

The economy shrunk in three of those four quarters.

Canada is the only G7 country for which that is the case.

There's now been an entire year of Mark Carney that is recorded in economic data, and the

GDP is smaller today than when he took office.

That is only true of Canada among G7 countries.

And now there are two back-to-back quarters where the economy shrunk, which is the literal

definition of a recession.

Canada, and by the way, it's not just that our economy is shrinking quarter after quarter.

It's that we have the second highest unemployment in the G7.

You think that the 120,000 people that lost their jobs since the beginning of this year

call this just a technical recession?

No, they call this real job loss.

And then you have the delinquency rate that is up 32 percent year over year at 17-year highs.

We have the highest household debt of any country in the G7.

The worst housing costs of any country in the G7.

For most of the last year, the worst food price inflation of any country in the G7.

So yes, you are making excuses and trying to hide from the reality that Mark Carney

has given Canada the worst economy in the G7.

And it's time to stop making excuses, not for political reasons.

It's time to stop making those excuses because this is people's lives.

Behind these statistics are empty stomachs, empty fridges, and empty bank accounts.

Behind these numbers are 120,000 people who have come home to their kids saying,

we can't have you registered for hockey this year.

We have to sell our home.

I don't know what we're going to do.

That is the reality of Mark Carney's economy, and it's time to stop covering it up with illusions.