There’s No Growth

February 27, 2026

February 27, 2026
FOR IMMEDIATE RELEASE

Ottawa, ON – Mark Carney promised Canadians that he would deliver the fastest-growing economy in the G7. Today, Statistics Canada reported on the results: Canada is the only country in the G7 with a shrinking economy, contracting by 0.2 per cent in the last quarter of 2025. 

The Liberals’ hollowing out of the economy is having a real impact, with 35,400 fewer Canadians earning a paycheque in the final month of last year. Since Carney took office, 32,800 Canadians lost their jobs in manufacturing, alongside 24,651 in trade and 15,271 in goods-producing industries.

The weak job market is also seen in the 12.9 per cent jump in the number of EI beneficiaries, as 65,000 more Canadians are on EI since Carney became Prime Minister. British Columbia has seen a 17.7 per cent spike, while Alberta experienced a 16.2 per cent leap, Ontario witnessed a 14.2 per cent growth and Quebec had a 14.1 per cent increase in the number of beneficiaries.

Even those who have a job still face the smallest increase in wages since 2016 (outside the pandemic). This has led to StatsCan finding that household disposable income ended the year growing at a slower pace, weakening Canadians’ ability to save, with the household savings rate falling to 4.4 per cent in the final quarter compared to 5.2 in Q3.

It’s happening as investment flees Canada. In the three quarters since Carney became Prime Minister, there has been a net foreign direct investment outflow of nearly $6.1 billion. The fourth quarter, meanwhile, saw almost 65 per cent of the foreign direct investment being foreign takeovers of Canadian firms, primarily by the United States.

Conservatives want to remove the internal barriers that block Canada’s growth and production. By cutting taxes, permitting major projects and repealing anti-development laws, Canada can become stronger at home, delivering higher take-home pay, affordable energy and stronger purchasing power while building leverage abroad.